Core Viewpoint - The artificial intelligence (AI) industry is experiencing significant developments, with the recent approval of the "AI+" action plan by the State Council indicating strong governmental support for AI commercialization and application [3][4]. Market Performance - As of August 1, 2025, the CSI Artificial Intelligence Industry Index (931071) decreased by 1.27%, with mixed performance among constituent stocks [1]. - New Point Software (688232) led the gains with an increase of 4.61%, while Guangxun Technology (002281) experienced the largest decline [1]. - The AI ETF (515980) had a turnover rate of 8.34% and a total transaction volume of 272 million yuan on the same day [1]. - Over the past week, the AI ETF averaged a daily transaction volume of 336 million yuan, and since its low point on April 9, it has rebounded by 33.91% [1]. ETF Performance - As of July 31, 2025, the AI ETF's net value increased by 53.97% over the past year, ranking 248 out of 2943 index stock funds, placing it in the top 8.43% [3]. - The ETF has recorded a maximum single-month return of 30.38% since its inception, with the longest consecutive monthly gains being three months and an average monthly return of 6.94% [3]. Policy and Index Optimization - The recent State Council meeting emphasized the need to promote large-scale commercialization of AI applications, aligning with the updated index that now allocates 20.6% to AIGC applications [4]. - The AI ETF's tracking index has undergone a renewal to better adapt to the current investment phase in the AI industry, changing the rebalancing frequency from semi-annual to quarterly [3][4]. - The index has optimized growth indicators to better reflect the future growth potential of companies in the AI sector [3]. Investment Strategy - The AI ETF (515980) is positioned as a small broad-based fund in the AI sector, balancing allocations between computing power (50%) and applications (50%) [6]. - The index includes sectors with positive economic indicators, such as optical modules and domestic computing power, with weights between 20% and 25%, which is higher than competing indices [6]. - The index also features AI applications with strong commercialization potential, such as autonomous driving and robotics, each holding a 5% weight [7]. - Investors can consider the AI ETF linked funds (A class 008020, C class 008021) to gain exposure to the upgraded index while avoiding speculative investments [7].