Mei Ri Jing Ji Xin Wen·2026-02-10 01:17Market Performance - The Shanghai Composite Index rose by 1.41% to close at 4123.09 points, while the Shenzhen Component Index increased by 2.17% to 14208.44 points, and the ChiNext Index surged by 2.98% to 3332.77 points [1] - The semiconductor ETFs, including the Kweichow Moutai Semiconductor ETF (588170), rose by 2.25%, and the Huaxia Semiconductor Equipment ETF (562590) increased by 2.24% [1] - In the overnight U.S. market, the Dow Jones Industrial Average rose by 0.04%, the Nasdaq Composite increased by 0.90%, and the S&P 500 rose by 0.47% [1] Industry Insights - According to Counterpoint's February memory price tracking report, memory prices are expected to rise by 80%-90% quarter-on-quarter in Q1 2026, driven primarily by a significant increase in general server DRAM prices [2] - The price of 64GB RDIMM contracts has surged from $450 in Q4 to over $900 in Q1, with expectations to exceed $1000 in Q2 [2] - NVIDIA's CEO Jensen Huang stated that the growing capital expenditure in AI infrastructure by tech giants like Microsoft, Amazon, Meta, Oracle, and Alphabet, which plan to invest over $600 billion in 2026, is reasonable and sustainable [2] - Huang emphasized that this represents the largest infrastructure build-up in human history, driven by an extreme demand for computing power [2] Corporate Actions - Alphabet Inc. plans to issue $20 billion in dollar-denominated bonds, exceeding the initial expectation of $15 billion, due to a surge in demand for AI-related bonds, attracting over $100 billion in subscriptions [3] - The longest maturity bonds, due in 2066, were priced at a yield 0.95 percentage points above U.S. Treasury rates, down from an earlier spread of 1.2 percentage points [3] - The capital expenditure of the four major U.S. cloud service providers is expected to exceed $670 billion in 2026, representing a year-on-year growth of over 60% [3] Related ETFs - The Kweichow Moutai Semiconductor ETF (588170) and its linked funds focus on semiconductor materials and equipment, capturing companies in the semiconductor sector that are benefiting from the AI revolution and domestic substitution trends [3][4] - The Huaxia Semiconductor Equipment ETF (562590) also emphasizes semiconductor equipment and materials, with a significant focus on the upstream semiconductor industry [4]