国金证券指出，计算机板块细分领域如AI产业链、智能驾驶、出海等方向景气度较好。利润端受 益于基数效应、减员增效及AI赋能下的成本节约，表现预计优于收入端。下半年经营强度有望好于上 半年，AI落地进展显著，预计环比上半年实现倍数增长。确定性较高的AI落地方向包括：软硬结合的 端侧AI硬件、C端出海软件、B端企业服务与制造业信息化、G端大模型私有化部署等。 （责任编辑：董萍萍 ） 计算机ETF（512720）跟踪的是CS计算机指数（930651），该指数从沪深市场中选取涉及软件开 发、IT服务、硬件制造等业务的上市公司证券作为指数样本，以反映计算机行业相关上市公司证券的整 体表现。CS计算机指数聚焦于计算机行业，旨在捕捉中国信息技术产业中具有成长性和技术导向性的 核心企业动态。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 每日经济新闻 没有股票账户的投资者可关注国泰中证计算机主题ETF联接C（010210 ...

没有股票账户的投资者可关注国泰中证计算机主题ETF联接A（160224），国泰中证计算机主题ETF联 接C（010210）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 国泰海通指出，DeepSeek推出的V3.1模型采用创新的"UE8M0"FP8架构，专为下一代国产芯片设计优 化，有望在AI算力领域形成硬件、软件、应用协同发展的生态。港交所研究延长交易时间及推进T+1结 算机制，将提升市场效率并利好金融IT领域，推动炒股软件与证券IT系统升级。此外，三款集中式数据 库通过安全可靠测评，显示信创数据库准入壁垒提升，市场份额将进一步向头部厂商集中。AI应用落 地持续加速，政策支持如上海推出的算力券、模型券等进一步推动行业发展。 计算机ETF（512720）跟踪的是CS计算机指数（930651），该指数从沪深市场中选取业务涉及计算机硬 件、软件及服 ...

Group 1 - The core viewpoint is that GPT-5 has exceeded expectations in programming capabilities, reducing hallucinations, and cost-effectiveness, leading to a significant decrease in input-output token prices, which accelerates AI implementation in production sectors [1] - Current enterprise AI demand is focused on data value extraction and embedding into industry workflows, with new generation ERP systems needing to be data-driven and AI intelligent [1] - In the US stock market, sectors such as marketing, advertising, cybersecurity, and data integration are performing well, particularly companies targeting small businesses and government enterprises showing significant growth [1] Group 2 - Domestic open-source large models rank among the best globally, laying a foundation for localized deployment [1] - There is a notable disparity between the software industries in China and the US, with China's potential for AI application development being greater due to macroeconomic recovery, customization implementation capabilities, and higher software spending growth rates [1] - The Computer ETF (512720) tracks the CS Computer Index (930651), which selects listed companies involved in software development and IT services from the Chinese A-share market to reflect the overall performance of the computer industry [1]

Group 1 - The core viewpoint of the news highlights the significant advancements in the Kimi K2 model, which utilizes 32 billion activation parameters to achieve trillion-level scalability and surpasses international open-source models like Gemma3 and Llama4, ranking in the top 5 of the large model arena [1] - The Kimi K2 model employs a self-developed MuonClip optimizer to overcome training stability issues and enhances task generalization capabilities through intelligent data synthesis technology inspired by ACEBench, enabling it to autonomously generate complex front-end code and accurately decompose instructions into structured sequences [1] - The open-source strategy of the Kimi K2 model is expected to lower AI agent development costs and drive innovation at the application layer, forming a full-stack product matrix with B-end enterprise-level APIs and C-end multimodal Kimi-VL, validating the potential for long-text and visual interaction scenarios [1] Group 2 - The Computer ETF (512720) has risen over 1.6%, tracking the CS Computer Index (930651), which selects listed companies involved in computer hardware, software, and services from the Shanghai and Shenzhen markets, reflecting the overall performance of computer-related securities with high growth and volatility characteristics [1]

每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 计算机ETF（512720）跟踪的是CS计算机指数（930651），该指数从沪深市场中选取涉及计算机硬 件、软件及服务等业务的上市公司证券作为指数样本，以反映信息技术行业内计算机相关上市公司证券 的整体表现。 没有股票账户的投资者可关注国泰中证计算机主题ETF联接C（010210），国泰中证计算机主题 ETF联接A（160224）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不 预示未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参 考，不构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险 等级相匹配的产品。基金有风险，投资需谨慎。 广发证券指出，大模型Agent能力的提升有望突破软件开发场景的应用瓶颈，尤其在需 ...

Group 1 - The global PC market is showing significant recovery, with a year-on-year growth of 7.4% in Q2 2025, indicating a return to positive growth after several quarters of decline [1] - The long-term outlook for the PC market suggests a shift from price competition to a focus on AI computing power, local intelligent experiences, and system ecosystem integration, leading to a sustainable development trajectory [1] - The Computer ETF (code: 512720) tracks the CS Computer Index (code: 930651), which includes listed companies in the computer hardware, software, and services sectors, reflecting the overall performance of the Chinese computer industry [1]

Group 1 - The core viewpoint is that embodied intelligence data is driving growth in the computer and software development industry, with a notable increase in the computer sector, as evidenced by the computer ETF (512720) rising over 1.4% [1] - Embodied intelligence data is categorized into real data, which is costly but highly authentic, and simulated data, which is cost-effective but has limited authenticity [1] - The industry faces challenges due to the scarcity of high-quality and diverse datasets, necessitating the establishment of standardized datasets to support model generalization [1] Group 2 - Open-source datasets like AgiBot World and Open X-Embodiment have emerged, covering multiple scenarios and tasks [1] - Simulation data technology paths include synthetic video combined with 3D reconstruction and end-to-end 3D synthesis, with companies like Qunkong Technology and Hillbot making strides in this area [1] - The establishment of data collection standards, such as the "Embodied Intelligence Data Collection Specification," is expected to accelerate positive industry development, with future training likely to use a mix of both data types to balance cost and effectiveness [1]