Venture(US:VEMLY) Xin Lang Ji Jin·2026-01-16 11:20Core Viewpoint - The AI sector in the ChiNext market is experiencing a significant influx of capital, despite a recent 2% decline in the ChiNext AI index, with notable fluctuations in AI application stocks and continued strength in computing power-related stocks [1][3]. Group 1: Market Performance - The ChiNext AI ETF (159363) has shown strong performance, achieving an eight-week consecutive increase with a cumulative gain of 34.66%, outperforming similar AI-themed indices [1][3]. - The ETF recorded a daily net subscription of 436 million units, with a total weekly inflow of approximately 1.678 billion yuan, indicating robust investor interest [1][3]. Group 2: Sector Analysis - The light module industry is in a high prosperity cycle, driven by the explosive demand for AI computing power, with supply becoming a core issue [3]. - Major manufacturers in the light module sector are accelerating capacity expansion, with expectations of a significant release of production capacity in Q1 2026, which could drive a new performance growth phase [3]. Group 3: Fund Characteristics - The ChiNext AI ETF (159363) has reached a record size of 5.527 billion yuan, with an average daily trading volume of nearly 800 million yuan over the past six months, leading among eight ETFs tracking the ChiNext AI index [3]. - The ETF has been included in the Stock Connect program, effective January 19, which is expected to enhance its trading activity and attract northbound capital [3]. Group 4: Investment Strategy - The current trend in AI development is shifting from computing power construction to application implementation, making the ChiNext AI ETF a direct beneficiary of the commercialization of AI technology [5]. - The ETF's portfolio consists of approximately 60% in computing power (primarily light modules) and 40% in AI applications, representing both core computing and true AI application sectors [5].