芯片ETF（512760）跟踪的是中华半导体芯片指数（990001），该指数从沪深市场中选取涉及半导体芯 片材料、设备、设计、制造、封装和测试等环节的上市公司证券作为指数样本，以反映半导体芯片行业 相关上市公司证券的整体表现。 长江证券表示，10月的GTC2025上，英伟达发布Blackwell与Rubin架构机柜方案，首代RubinNVL144性 能较GB300NVL72性能提升约3.3倍，第二代RubinUltra576性能提升约14倍，将于2027年下半年推出。 大会还首次亮相VeraRubinSuperchip，采用88核ArmCPU、双RubinGPU与2TB内存，算力达到 100PFLOPS；同时展示CPX计算板，支持超百万Token的上下文加速，面向大模型推理场景。英伟达预 计未来五个季度GPU销售额预计超5000亿美元，Blackwell与Rubin生命周期出货量预计达2000万颗，显 著高于Hopper的400万颗。英伟达将与甲骨文及美国能源部共建Solstice与Equinox超算系统，分别部署 10万和1万颗BlackwellGPU，总算力约2200EFLOPS，预计2026年上半年启用 ...

Group 1 - The semiconductor industry exhibits a typical "bull long, bear short" characteristic, with an average mid-cycle of 4-5 years, indicating that investors should focus on performance realization and valuation switching windows [1] - "Technology first" is the main theme of the current bull market, with the electronic semiconductor sector possessing three long-term advantages: relative profitability, overseas mapping, and global cycle resonance [1] Group 2 - The Chip ETF (512760) tracks the China Semiconductor Chip Index (990001), which selects listed companies involved in semiconductor chip materials, equipment, design, manufacturing, packaging, and testing from the Shanghai and Shenzhen markets to reflect the overall performance of the semiconductor chip industry [1]

Group 1 - The AI wave is driving a surge in demand for computing power, significantly increasing the value in sectors such as servers, AI chips, optical chips, storage, and PCB boards [1] - Micron Technology anticipates that the DRAM market will remain extremely tight until 2026, with supply-demand imbalance worsening; the wafer demand for high bandwidth memory (HBM) required for AI applications is approximately three times that of standard DRAM [1] - The rising costs of new factory construction and extended production cycles are exacerbating supply tightness in the semiconductor industry [1] Group 2 - Lam Research is assisting clients in addressing the challenges of semiconductor manufacturing transformation driven by AI, with "advanced process expansion" becoming a key focus over the next three years [1] - CoWoS and HBM are positioned to capitalize on AI industry trends, highlighting the growing importance of advanced packaging [1] - The Chip ETF (512760) tracks the China Semiconductor Index (990001), which focuses on the core semiconductor industry chain in China, selecting listed companies involved in semiconductor materials, equipment, and end applications [1]