A股市场上午高开高走，截至午间收盘，上证指数涨1.17%，深证成指涨2.07%；创业板指猛涨100.57点，涨幅为3.11%。 | P | | مسر | | ﻣﺴﺮ | | --- | --- | --- | --- | --- | | 4113.28 | 14194.23 | | 3337.03 | | | 上证指数 +1.17% - | 深证成指 +2.07% | | 创业板指 +3.11% | | 全市场半日成交额达1.5万亿元，较前一交易日同期略有放量；全市场超4400只个股上涨，其中84只涨停。 盘面上，上午通信、传媒、电子等板块走强，算力产业链大爆发，光电路交换机、光模块、太空光伏、短剧游戏等概念股火热；石油石化板块略有回调。 【导读】创业板指半日大涨3%；算力产业链大爆发，太空光伏概念股持续活跃，传媒板块大面积涨停 大家好！节前最后一周交易日开始了，来一起关注上午的市场行情和最新资讯～ 2月9日上午，亚太市场普遍活跃：日韩股市双双大涨，恒生指数、澳洲标普200指数亦有一定涨幅。 | 亚太市场 区 | | | | --- | --- | --- | | 日轻225 | 韩国综合 | 新加坡海峡 ...

【导读】创业板指半日大涨3%；算力产业链大爆发，太空光伏概念股持续活跃，传媒板块大面积涨停 中国基金报记者 晨曦 2月9日上午，亚太市场普遍活跃：日韩股市双双大涨，恒生指数、澳洲标普200指数亦有一定涨幅。 | 亚太市场 区 | | | | --- | --- | --- | | 日经225 | 韩国综合 | 新加坡海峡 | | 56663.85 | 5304.72 | 4972.92 | | +2410.17 +4.44% +215.58 +4.24% +38.51 +0.78% | | | | 澳洲标普200 | 印度 | MSCI台湾 | | 8878.80 | 0.00 | 1299.99 | | +67.90 | | | | 上证 | 深证成指 | | | 4113.28 14194.23 26989.26 | | | | +47.70 +1.17% +287.50 +2.07% +429.31 +1.62% | | | A股市场上午高开高走，截至午间收盘，上证指数涨1.17%，深证成指涨2.07%；创业板指猛涨100.57点，涨幅为3.11%。 | | | | | D | | | | --- | ...

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Market Overview - A-shares have recently experienced a rare switch, with the previously surging non-ferrous metals sector suddenly halting, while traditional heavyweight assets like liquor stocks have shown collective recovery [1] - The broad market indices reflect this change, with the Shanghai Stock Exchange 50 and CSI 300 indices turning positive last week, while other indices remained in the red [1] Precious Metals Performance - Precious metals have faced extreme volatility, with spot silver plunging approximately 26% on a single day, and silver futures dropping as much as 31.4%, marking the worst single-day performance since March 1980 [1][2] - Gold and silver prices continued to decline, with COMEX gold falling below $4500 per ounce and spot silver experiencing a daily drop exceeding 13%, erasing nearly a month of gains [1] Market Sentiment and Influences - The abrupt market shift from a "short squeeze" rally to a "liquidation" sell-off was triggered by the unexpected news of President Trump's nomination of Kevin Warsh as the next Federal Reserve Chair, who is perceived as a hawkish candidate [3] - Concerns have arisen regarding the potential impact on risk assets and precious metals due to a lack of synchronized interest rate cuts and balance sheet expansion, leading to a breakdown of previously unified bullish trading [3] Investment Perspectives - A prominent private equity figure, Dan Bin, has expressed skepticism about the sustainability of the current gold and silver bull market, citing historical instances of sharp declines following significant price increases [4][7] - Despite the recent surge in gold and silver prices, Bin emphasizes the inevitability of corrections after such rallies, which he believes is ingrained in market behavior [7] Personal Investment Strategy - Bin has indicated a preference for income-generating assets over gold, suggesting that gold may not outperform assets that consistently generate returns [9] - He has acknowledged his past misjudgments regarding the A-share market, admitting that he has missed several opportunities due to a mindset focused on rebounds rather than reversals [12]

Group 1 - The technology sector experienced fluctuations in early trading due to the overnight decline in US stocks, while the AI industry chain showed resilience with a low rebound [1] - Alibaba is considering increasing its investment in AI infrastructure and cloud computing from 380 billion to 480 billion yuan over the next three years [1] - ByteDance plans to launch the official version of its Doubao mobile assistant by the end of 2025, with a new device expected to be released in late Q2 2026 [1] Group 2 - Microsoft and Meta reported that the tight supply of AI computing power will persist through 2026, with both companies exceeding market expectations for Q4 capital expenditures: Microsoft at 37.5 billion and Meta at 22.137 billion [1] - Meta has raised its full-year capital expenditure forecast for 2026 to 125 billion, a 73% year-on-year increase [1] - Research institutions predict that the demand for computing power will continue to rise in the next 3-6 months due to the intensive catalysts from AI applications and ongoing model iterations [1] Group 3 - As of January 30, 2026, the Shanghai Stock Exchange Science and Technology Innovation Board 100 Index showed mixed performance among its constituent stocks, with Shijia Photon leading at an increase of 8.56% [1] - The Science and Technology Innovation Board 100 ETF (588220) was quoted at 1.55 yuan [1] - The Science and Technology Innovation Board 100 ETF has a turnover rate of 4.66% and a transaction volume of 492 million yuan during the trading session [2]

截至2026年1月30日 11:08，中证人工智能主题指数(930713)上涨0.01%，成分股协创数据上涨5.80%，北 京君正上涨4.87%，芯原股份上涨4.25%，新易盛上涨4.06%，中际旭创上涨3.30%。AI人工智能 ETF(512930)下跌0.21%，最新报价2.35元。 流动性方面，AI人工智能ETF盘中换手3.76%，成交1.27亿元。拉长时间看，截至1月29日，AI人工智能 ETF近1月日均成交2.47亿元。 受隔夜美股影响，AI板块今日震荡调整，长期来看，产业链依然催化不断，阿里明确"云+AI+芯片"战 略，平头哥真武PPU累计出货量已达数十万片，并服务了国家电网、小鹏汽车等400多家客户。此外， 阿里正考虑将未来三年投入到AI基建与云计算上的3800亿元提升至4800亿。字节也已于2025年底开启 豆包手机助手正式版项目，新机预计将于2026年Q2中晚期发布。海外方面，微软与Meta在最新财报中 均表示，AI算力供应紧张态势贯穿2026年。两家公司四季度资本支出均高于市场预期：微软为375亿美 元，Meta为221.37亿美元。同时，Meta将2026年全年资本支出预期上调至1250 ...

Core Viewpoint - Recent demand for inference and training computing power is strong, leading to price increases from both Amazon Web Services (AWS) and Google Cloud [1][2] Group 1: Demand for Computing Power - The demand for computing resources for inference and training has significantly increased, supporting the need for training computing power [1] - AWS raised prices by approximately 15% for EC2 machine learning capacity blocks on January 23, 2026, followed by Google Cloud announcing price hikes for its cloud network transmission services, with North America seeing a doubling of prices [2] Group 2: Inference Side - The rapid emergence of AI agents, such as MoltBot, is expected to support the demand for inference computing power, as these agents can perform more complex tasks and require more computing resources [3] - Anthropic has raised its revenue expectations for 2026 and 2027 to $18 billion and $55 billion, respectively, indicating a strong upward trend in inference demand [3] Group 3: Training Side - The industrial sector is continuously exploring scaling limits, which supports the demand for training computing power, with new models expected to be released in Q1 2026 [8] - Models like Grok-5 and GPT-6 are anticipated to utilize larger datasets and parameter scales, increasing the demand for training computing power [8] Group 4: Financial Reporting Catalyst - The upcoming earnings reports from major cloud service providers (CSPs) will be critical in confirming the demand for computing power and capital expenditure continuity [9] - Key earnings dates include Microsoft and Meta on January 29, 2026, followed by Google on February 5 and Amazon on February 6, with NVIDIA's report on February 26 expected to further influence market sentiment [9][10]

Group 1 - Beijing plans to increase computing power resources, aiming for a cumulative capacity of around 200,000 P by 2027 [1] - Since 2025, both Chinese and US tech stocks have performed well, with the computing power sector leading the market [1] - Domestic chip manufacturers are exploring solutions like multi-card clusters to overcome performance limitations of single cards, creating investment opportunities in related components [1] Group 2 - AI computing power is seen as a major growth engine in the communications industry, with a focus on investment opportunities in the computing power supply chain [2] - Major overseas companies like Microsoft, Google, Meta, and Amazon have optimistic capital expenditure guidance for 2026, with expected total capital expenditures of $406.5 billion and $596.4 billion for 2025 and 2026 respectively, reflecting significant year-on-year growth [2] - The proportion of capital expenditure allocated to AI computing power and infrastructure is expected to continue increasing [2]

Core Viewpoint - The performance expectations in the optical module CPO sector are driving the rise of the AI sector in the ChiNext market, with significant gains in stocks like Tianfu Communication and AI application companies like Deepin Technology [1] Group 1: Market Performance - The ChiNext AI sector rose over 1%, with Tianfu Communication up 6%, Zhongji Xuchuang up over 2%, and Xinyi Sheng up over 1% [1] - The ChiNext AI ETF (159363) saw a 2% increase, with real-time transactions exceeding 150 million yuan and over 1 billion yuan added in the past five days [1] Group 2: Company Performance - Tianfu Communication announced a profit forecast for 2025, expecting net profit attributable to shareholders to be between 1.881 billion yuan and 2.150 billion yuan, representing a year-on-year growth of 40% to 60% [1] - The growth is attributed to the accelerated development of the AI industry and the ongoing global data center construction, which has driven stable demand for high-speed optical device products [1] Group 3: Industry Insights - Tianfeng Securities expresses optimism about investment opportunities in the core players of the computing power supply chain, driven by AI-related demand [2] - The communication industry has seen a low increase in stock prices despite strong earnings forecasts, indicating potential for capital inflow during the earnings disclosure period [2] - The ChiNext AI ETF is positioned to benefit directly from the commercialization of AI technology, with approximately 60% of its portfolio in computing power and 40% in AI applications [2]

Group 1 - The core viewpoint of the news highlights the positive performance of the AI sector, particularly driven by the optical module CPO segment, with notable stock increases such as Tianfu Communication rising by 6% and Deepin Technology leading with a 7% gain [1][5] - The AI application sector is showing active performance, with multiple stocks, including Chinese Online and BlueFocus, experiencing gains of over 2% [1][5] - The entrepreneurial board AI ETF (159363) has seen a 2% increase in trading, with real-time transactions exceeding 150 million CNY and over 1 billion CNY added in the past five days [1][5] Group 2 - Tianfu Communication has released a profit forecast for 2025, estimating net profits attributable to shareholders between 1.881 billion CNY and 2.150 billion CNY, representing a year-on-year growth of 40% to 60% [1][5] - The growth is attributed to the accelerated development of the AI industry and the ongoing construction of global data centers, which have driven stable demand for high-speed optical device products [1][5] - The company’s continuous cost reduction and efficiency improvement in smart manufacturing have also contributed to revenue growth across its active and passive product lines [1][5] Group 3 - Tianfeng Securities expresses a strong outlook on investment opportunities within the core segments of the computing power supply chain, driven by AI, indicating potential for significant business growth [2][6] - The report emphasizes the high prosperity of the overseas computing power supply chain, with ongoing financial reports reflecting strong AI-related demand [2][6] - Industrial chain fundamentals are resonating strongly, particularly in the optical module sector, which is expected to attract more attention during the earnings disclosure period [2][6] Group 4 - The entrepreneurial board AI ETF is structured with approximately 60% of its portfolio focused on computing power (primarily optical modules) and about 40% on AI applications, representing both core computing power and true AI application sectors [7]