再现“一日售磬”！这一赛道，迎来资金弹药

Core Viewpoint - The launch of the first batch of AI-themed ETFs, particularly the Yongying CSI Innovation and Entrepreneurship AI ETF, has seen significant investor interest, with subscription amounts nearing the upper limit of 1 billion yuan, indicating strong market demand for AI investments [1][3]. Fundraising and Market Response - On November 28, the Yongying CSI Innovation and Entrepreneurship AI ETF was launched, with a subscription scale exceeding 900 million yuan on its first day, prompting an early closure of fundraising due to high demand [1][3]. - Other public funds also launched AI ETFs, with varying fundraising limits, indicating a competitive environment in the AI investment space [2]. Stock Performance and Index Composition - The top five weighted stocks in the CSI Innovation and Entrepreneurship AI Index are Xinyi Sheng, Zhongji Xuchuang, Hanwujing, Lanketech, and Kingsoft, collectively accounting for 58% of the index, highlighting a high concentration of "star stocks" in the AI sector [4]. - The index has shown impressive historical performance, with a cumulative return of 165.3% from December 31, 2019, to November 28, 2025, significantly outperforming other indices [5]. Investment Landscape and Future Outlook - The approval and successful launch of the AI ETFs represent a significant step for the capital market in supporting technological innovation, particularly in the fields of chips and AI, which are seen as core areas for new productive forces [6]. - The technology sector is currently viewed as being at a historically reasonable valuation, with expectations for dual growth in performance and valuation for companies mastering core technologies as application scenarios expand [6].