11月24日，A股市场午后反弹，AI产业链异动拉升，云计算、AIGC、Kimi等概念表现活跃。截止13点 50分，云计算50ETF（516630）涨超2%，持仓股易点天下、数据港、石基信息、汉得信息等表现居 前；创业板人工智能ETF华夏（159381）涨超1.3%。 近日，工业部印发《云计算综合标准化体系建设指南（2025版）》，提出到2027年，新制定云计算国家 标准和行业标准30项以上，开展标准宣贯和实施推广的企业超过1000家，以标准赋能企业数字化转型升 级的成效更加凸显。加快云计算领域国际标准供给，促进产业全球化发展。 云计算50ETF（516630）跟踪云计算指数（930851）。该指数的AI算力含量较高，覆盖了光模块&光器 件、算力租赁、数据中心、AI服务器、液冷等热门算力概念。云计算50ETF（516630）为跟踪该指数合 计费率最低的ETF。场外联接（A类：019868；C类：019869）。 创业板人工智能ETF华夏（159381），跟踪创业板人工智能指数（970070.CNI），精准布局创业板人工 智能主业公司。光模块CPO权重占比超54%，同时覆盖国产软件+AI应用企业，具备较高弹性。其 ...

人工智能AIETF（515070）跟踪CS人工智能主题指数（930713），成分股选取为人工智能提供技术、 基础资源以及应用端个股，聚集人工智能产业链上中游，俗称"机器人"大脑"缔造者"，万物互联"地 基"。前十大权重股包括中际旭创、新易盛、寒武纪-U、中科曙光、科大讯飞、豪威集团、海康威视、 澜起科技、金山办公、紫光股份等国内科技龙头。 相关产品：人工智能AIETF（515070）、创业板人工智能ETF华夏（159381）、科创人工智能ETF华夏 （589010） 11月24日，A股三大指数午后全面翻红，AI赛道表现强势，智谱AI、AI语料等板块涨幅居前，AI应用端 涨势扩大，截至13：45，人工智能AIETF（515070）涨0.87%，其持仓股三六零涨停，昆仑万维涨超 7%，用友网络、光迅科技、神州泰岳等股纷纷异动走强。 消息面上，谷歌公布算力扩容计划，核心目标为每6个月将算力容量翻倍，并计划在未来4至5年内实现 1000倍的总体能力提升。谷歌强调此次扩张并非单纯比拼资本投入，而是在控制成本和能耗的前提下， 致力于构建更可靠、高性能且可扩展的基础设施。为支撑此目标，谷歌母公司Alphabet已在年内第二 ...

11月24日，三大股指早盘窄幅震荡，其中创业板人工智能指数小幅拉升。截至上午9:37，创业板人工智能ETF华夏(159381)涨1.12%，相关持仓股 方面，中际旭创涨2.71%、新易盛涨2.65%、天孚通信涨1.15%，中科创达、全志科技、协创数据等小幅跟涨。 消息面上，谷歌于2025年11月正式发布Gemini3，新一代大模型在多项基准测试中实现了断层式领先，展现出跨越式的性能提升。基础思考能力： Gemini3Pro在衡量AI能否解决人类顶尖难题的Humanity'sLastExam中得分37.5%(无工具)和45.8%(带工具)，超过GPT-5.1的26.5%与ClaudeSonnet4.5 的13.7%。Gemini3在开发者工具领域实现了显著突破，重新定义了AI辅助编程的能力边界：在开发者社区运营的实战编码竞技场DesignArena中， Gemini3Pro在整体排名中位列第一 中信建投证券认为，近期，算力板块波动加大。复盘2023年以来的算力板块，三季报后调整比较常见，考虑到AI带动的算力需求依然非常旺盛， 我们认为调整是机会。目前，世界正处于AI产业革命中，类比工业革命，影响深远，不能简单对 ...

Core Insights - The A-share market experienced a morning surge followed by a decline in the afternoon, while the AI computing sector remained strong, showing resilience with upward trends in related ETFs [1] - NVIDIA's latest earnings report exceeded expectations, countering market skepticism regarding "peak growth" and "AI bubble" claims, with CEO Jensen Huang emphasizing the continuous and exponential growth in computing demand for AI applications [1] - NVIDIA provided a robust sales forecast for Q4, projecting revenue of $65 billion, surpassing the general expectation of $62 billion, indicating sustained growth momentum even at high baseline levels [1] ETF Overview - The Huaxia ChiNext AI ETF (159381) tracks the ChiNext AI Index, focusing on companies in the AI sector, with over 54% weight in optical modules and coverage of domestic software and AI application firms, showcasing high elasticity [2] - The top three holdings in the Huaxia ChiNext AI ETF are Zhongji Xuchuang (24.78%), Xinyi Sheng (19.40%), and Tianfu Communication (5.11%), with a low comprehensive fee rate of 0.20% [2] - The 5G Communication ETF (515050) tracks the CSI 5G Communication Theme Index, with a scale exceeding 9 billion, focusing on the supply chains of NVIDIA, Apple, and Huawei, and its top five holdings include Zhongji Xuchuang, Xinyi Sheng, Luxshare Precision, Industrial Fulian, and Zhaoyi Innovation [2]

（文章来源：每日经济新闻） 有分析认为，英伟达强劲的业绩指引证实了AI基础设施需求的韧性，极大提振了科技股及全球股市的 多头情绪，扭转了此前因估值担忧引发的抛售。美股盘后，英伟达股价一度涨超5%。 11月20日，AI算力产业链早盘高开，中际旭创盘中一度涨超5%逼近前高，新易盛、长芯博创等红盘向 上，光模块CPO概念股权重占比超54%、同类费率最低的创业板人工智能ETF华夏（159381）强势站 上60日均线，冲击四连涨。5G通信ETF（515050）站上5日均线。 美东时间11月19日，英伟达（NVDA.US）2026财年第三财季财报重磅发布，"业绩超预期并上调指 引"的时刻再度上演。财报显示， 英伟达2025年第三季度（截至10月26日）营收570.1亿美元，高于市场 普遍预期的约550亿美元，创下历史新高，环比增长22%，同比增幅达62%。其中，公司三季度数据中 心营收达512亿美元，同比增长66%。业绩指引方面，公司预计四季度营收将达到650亿美元，上下浮动 2%，即637亿至663亿美元，分析师预期中值为619.8亿美元。 ...

创业板人工智能ETF华夏（159381），跟踪创业板人工智能指数（970070.CNI），精准布局创业板人工 智能主业公司。光模块CPO权重占比超54%，同时覆盖国产软件+AI应用企业，具备较高弹性。其中前 三大权重股为中际旭创（24.78%）、新易盛（19.40%）、天孚通信（5.11%）。场内综合费率仅 0.20%。场外联接（A类：025505；C类：025506） 华泰证券表示，资本创新重塑算力建设模式，开启新一轮扩张周期。传统重资产自建模式正被多元化融 资结构取代，"算力租赁""算力债务融资"等新模式快速兴起，缓解了前期巨额投入与长周期收益错配问 题，也使算力资产具备证券化与规模复制的基础，推动算力集群建设加速。我们认为，资本与技术的双 轮驱动使得算力建设进入正反馈周期，需求端的高增长与供给端的扩产共振，推动全球算力基础设施进 入新一轮繁荣周期。 相关ETF： 11月19日，算力产业链反复活跃。截止14:52，创业板人工智能ETF华夏（159381）上涨0.70%，冲击三 连阳；5G通信ETF（515050）午后成功翻红，上涨0.41%。光模块CPO表现活跃，联特科技涨超14%， 光模块龙头中际旭创、 ...

Group 1 - The A-share market opened lower but the TMT sector showed resilience, with concepts like Kimi, Douyin Doubao, multimodal models, and virtual humans becoming active [1] - The AI-focused ETF, Huaxia (159381), saw a positive performance, with its constituent stock BlueFocus rising over 10%, and other stocks like Yidian Tianxia, Zhongwen Online, Chengmai Technology, Wanxing Technology, and Kunlun Wanwei rising over 4% [1] - In the past 20 trading days, the Huaxia AI ETF has attracted over 270 million yuan in capital, being the lowest fee rate ETF in its category [1] Group 2 - The Huaxia AI ETF tracks the entrepreneurial board AI index and focuses on companies in the AI sector, with over 54% weight in optical modules CPO, covering domestic software and AI application enterprises [2] - The top three weighted stocks in the ETF are Zhongji Xuchuang (24.78%), Xinyi Sheng (19.40%), and Tianfu Communication (5.11%) [2] - The ETF has a low comprehensive fee rate of only 0.20%, making it the lowest in its category [2]

Group 1 - The core viewpoint of the articles highlights the significant financing demand generated by the AI boom, estimated to be between $5 trillion to $7 trillion over the next five years, which is expected to drive growth in the global bond and syndicated loan markets [1] - Major data center operators are identified as the primary entities driving this funding demand, with an annual capital expenditure of approximately $500 billion to support AI infrastructure expansion [1] - The need for diversified financing channels is emphasized to meet the substantial capital requirements for AI data center construction, chip development, and application deployment [1] Group 2 - Citic Securities notes that the AI era is still in its early stages, transitioning from isolated breakthroughs to deep integration with industries, indicating a promising future [2] - The report focuses on investment themes centered around AI agents and computing infrastructure, predicting a significant explosion in enterprise applications between 2027 and 2030 [2] - AI is recognized as a core engine driving digital transformation across various industries, particularly in verticals like finance and healthcare [2] Group 3 - The AI ETF (515070) tracks the CS AI Theme Index (930713), selecting stocks that provide technology, foundational resources, and applications for AI, focusing on the midstream and upstream of the AI industry chain [2] - The top ten weighted stocks in the AI ETF include leading domestic technology companies such as Zhongji Xuchuang, Xinyi Sheng, and Han's Laser [2] - Related products include the AI ETF (515070), the ChiNext AI ETF (159381), and the Sci-Tech Innovation AI ETF (589010) [2]

Group 1 - The U.S. stock market experienced a broad rally, with the Dow Jones up 0.81% to 47,368.63 points, the S&P 500 rising 1.54% to 6,832.43 points, and the Nasdaq soaring 2.27% to 23,527.17 points, driven by a strong rebound in technology stocks [1] - Major tech stocks such as Nvidia and Microsoft led the gains, with Nvidia rising nearly 6% and Microsoft over 1%, while the Nasdaq's performance was notably boosted by the AI sector [1] - The U.S. government shutdown has lasted over 40 days, but a potential agreement to end it is being discussed in Congress, which analysts believe is contributing to a release of liquidity and a rebound in risk assets [1] Group 2 - North American cloud service providers like Google, Meta, Microsoft, and Amazon AWS reported strong quarterly earnings, with AI driving significant growth in their business segments [2] - Google and Meta have raised their full-year capital expenditure guidance, indicating a positive cycle between AI application deployment and capital spending, with a total capital expenditure of $112.5 billion for the three companies in Q3, reflecting a 18.4% quarter-over-quarter increase [2] - Investment in computing infrastructure remains robust, highlighting the ongoing demand for AI-related technologies [2]

Group 1 - The AI computing sector experienced slight fluctuations, with the AI ETF down by 0.36% and the 5G communication ETF down by 1.49% as of 14:31 [1] - Alibaba's CEO announced the company's investment in building large-scale AI infrastructure and a super AI cloud, positioning Alibaba Cloud as a full-stack AI service provider [1] - CITIC Securities highlighted that in Q3 2025, sectors related to computing power, including PCB and domestic computing chip leaders, are expected to perform well, driven by AI and growth in both overseas and domestic computing power [1] Group 2 - The 5G communication ETF tracks the CSI 5G Communication Theme Index, with a scale exceeding 8 billion yuan, focusing on the supply chains of Nvidia, Apple, and Huawei [2] - The index has a high purity of "hard technology," with telecommunications and electronics accounting for nearly 80% of the weight, emphasizing network infrastructure and terminal components [2] - The AI ETF tracks the ChiNext AI Index, with a significant allocation to optical modules and coverage of domestic software and AI application companies, featuring a low comprehensive fee rate of 0.20% [2]