科技板块今日集体跳空高开，全天保持上行态势，CPO、PCB、5G通信等概念涨幅居前。截至收盘，中证人工智能主题指数、上证科创板人工智能指数均 上涨2%，人工智能ETF（159819）全天成交额超10亿元，获近2000万份净申购。Wind数据显示，该ETF此前连续4个交易日获资金净流入，合计约3.3亿元。 兴业证券称，11月以来，受美储降息预期回落、"AI泡沫"言论影响，全球风险资产跟随美股同步调整，近期A股与港股的波动也随之加剧。但往后看，海外 冲击影响下中国资产已调整出性价比，随着海外风险释放带来的情绪冲击逐步落地、消化，中国资产有望凭借自身独立逻辑迎来修复。 每日经济新闻 ...

来源：市场投研资讯 （来源：小白读财经） 这么巨大的需求说明目前的Al热不仅没有泡沫化，而且有进一步升温之势。而相较美股科技股，中国科 技股未来的空间明显更大。 受这个消息影响，美股中以科技股为主的纳指周一大幅上涨。美国政府有关人士说：美国政府与英伟 达、戴尔科技、慧与以及超威半导体（AMD）等私营企业的合作将增强国家实验室的超级计算资源。 这说明这个国家战略主阵地是企业，而企业主要集中在上市公司。这说明股市的逻辑真变了！这个变是 越来越追求科技含量，特别是Al含量。 目前美国科技巨头占标普500指数总市值的比例约为40%。中国证监会主席吴清之前提到：A股科技板 块市值占比超过1/4。 可见，无论是美国还是中国，提高股市的科技含量成为重要一环。接一下两国对科技的投入肯定会越来 越大。 最近，摩根大通策略师团队重要报告提到：未来五年AI数据中心的建设热潮至少需要5万亿美元，甚至 可能高达7万亿美元的资金。 据央视新闻，美国宣布将启动一项旨在利用人工智能（AI）变革科学研究方式、加速科学发现的全新 国家计划"创世纪计划"。 针对这个计划，美国政府相关人士说道：即将到来的人工智能竞赛与"曼哈顿计划"或太空竞赛同等重 ...

今日早盘，AI产业链题材股集体反弹，CPO、PCB等概念涨幅居前。截至午间收盘，中证人工智能主题指数、上证科创板人工智能指数均上涨3.0%。 瑞银全球财富管理首席投资办公室表示，人工智能以及更广泛的科技主题将在2026年继续成为全球股市表现的主要驱动力，延续2025年的强劲走势。 每日经济新闻 ...

高盛首席中国股票策略师表示，AI引领的中国股票上涨远非泡沫，因为中国科技公司仍有空间通过专注于AI应用来提升估值和盈利，中国股票的牛市行情 将延续，全球投资者越来越愿意探索中国市场的投资机会，来自新兴市场的客户正在积极布局中国资产。 截至收盘，中证人工智能主题指数上涨0.8%，上证科创板人工智能指数上涨1.6%，人工智能ETF（159819）全天获超3000万份净申购。Wind数据显示，该 ETF此前连续3个交易日获资金净流入，合计约3亿元。 每日经济新闻 ...

Core Viewpoint - The artificial intelligence (AI) industry is experiencing rapid development, with increasing technological innovation and expanding application scenarios, leading to new investment opportunities, particularly in the upstream sectors like chips and algorithm frameworks [1]. Group 1: Market Performance - The market experienced a collective adjustment today, with significant declines in technology growth sectors such as AI and semiconductors. The AI ETF (159819) saw a net subscription of approximately 150 million shares throughout the day [1]. - Over the week, the Shanghai Stock Exchange Sci-Tech Innovation Board AI Index fell by 2.5%, while the CSI AI Theme Index decreased by 3.3% [1]. Group 2: Index Composition and Characteristics - The Shanghai Stock Exchange Sci-Tech Innovation Board AI Index includes 30 large-cap stocks involved in AI foundational resources, technology, and application support, with over 85% of its composition from the electronics and computer sectors [4]. - Currently, there are four ETFs tracking the CSI AI Theme Index and ten ETFs tracking the Shanghai Stock Exchange Sci-Tech Innovation Board AI Index, with varying fee rates and tracking errors [6]. Group 3: Historical Performance Data - The historical performance of the CSI AI Theme Index shows a cumulative decline of 8.3% over the past month and a rise of 48.0% year-to-date. The Shanghai Stock Exchange Sci-Tech Innovation Board AI Index has seen a decline of 9.5% over the past month and a rise of 39.7% year-to-date [7]. - Since their respective base dates, the CSI AI Theme Index has increased by 367.0%, while the Shanghai Stock Exchange Sci-Tech Innovation Board AI Index has risen by 108.4% [8].

Core Insights - Major companies in the AI sector are releasing positive signals, with Nvidia reporting a third-quarter revenue of $57 billion, a 62% year-over-year increase, exceeding market expectations [1] - Nvidia's data center revenue reached a historic high of $51.2 billion, serving as a core growth engine for the company [1] - Google launched its new large model, Gemini 3, which was integrated into its search system on the same day of release, showcasing rapid technological deployment [1] - Alibaba's "Qianwen" app has entered public testing, directly competing with ChatGPT and planning to integrate into its core ecosystem, including Taobao, Gaode, and Alipay [1] Market Analysis - Analysts suggest that Nvidia's better-than-expected performance alleviates market concerns regarding the "AI bubble" theory, indicating a robust demand for AI applications and infrastructure [1] - The iteration of large model capabilities and the flourishing AI application ecosystem are expected to drive demand from training to inference, creating ongoing development opportunities for the industry [1] Investment Opportunities - The China Securities Artificial Intelligence Theme Index consists of 50 stocks that provide foundational resources, technology, and application support for AI, covering the entire AI industry chain [1] - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index selects 30 larger market-cap stocks involved in AI, emphasizing "hard technology" attributes, particularly in foundational chips and AI application segments [1] - Artificial Intelligence ETFs (159819) and Sci-Tech Artificial Intelligence ETFs (588730) track these indices, offering investors convenient tools to invest in both domestic and international AI infrastructure and cutting-edge technology applications [1]

Group 1 - The core viewpoint is that the artificial intelligence industry is in a rapid development phase, with continuous technological innovation and expansion of application scenarios [1] - The CSI Artificial Intelligence Theme Index rose by 0.5% and the Shanghai Stock Exchange Sci-Tech Innovation Board AI Index increased by 1.0%, indicating active trading in related products, with the AI ETF (159819) achieving a trading volume exceeding 700 million yuan [1] - Increased policy support and growing market demand are expected to create new development opportunities for the AI industry chain, particularly in upstream areas such as chips and algorithm frameworks, which will become key investment focuses [1]

Core Viewpoint - The domestic GPU company Moore Threads has initiated its IPO process on the Sci-Tech Innovation Board, aiming to become the "first domestic GPU stock" with fundraising primarily directed towards the development of next-generation self-controlled AI training/inference integrated chips, self-controlled graphics chips, and AI SoC chips, reflecting a strategic focus on long-term investment in core technologies [1] Group 1: Company Developments - Moore Threads is set to enhance the certainty of AI computing hardware development through its upcoming IPO fundraising and technological layout [1] - The company’s fundraising efforts are aligned with its strategic direction towards core technology investments [1] Group 2: Industry Implications - The related industry indices are focusing on domestic AI industry chain-related stocks, which may benefit from the iteration and development of domestic chips, potentially leading to performance elasticity driven by industry prosperity [1] - The China Securities Chip Industry Index emphasizes leading companies across various segments of the chip industry, with digital chip design accounting for over 50% [1] - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index consists of 30 major AI industry chain-related stocks, focusing on upstream basic chips and downstream AI applications [1] Group 3: Investment Tools - The E Fund ETF (516350) and the Sci-Tech Artificial Intelligence ETF (588730) track the aforementioned indices, providing investors with convenient tools to invest in the semiconductor industry chain [1]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index (950180) increased by 0.65%, with notable gains from companies like Lanke Technology and Stone Technology, which rose over 2%, while Cambrian fell over 2% [1] - The Sci-Tech Artificial Intelligence ETF (588730) has seen a net inflow of over 85 million yuan in the last four days, totaling nearly 480 million yuan in the past 60 days, with the latest fund size reaching 1.617 billion yuan [1][4] - Microsoft has launched a new AI infrastructure by connecting large data centers across states, with its new AI data center in Atlanta operational since October, significantly reducing complex AI training times from months to weeks [3] Group 2 - The current focus is on the domestic computing power industry chain, with increased attention on domestic AI applications following Alibaba Cloud's unexpected growth and Huawei's new super node cluster products [3] - The approval of the IPO for Moore Threads is expected to accelerate the scale and penetration of domestic AI computing power, with a positive outlook on advanced process manufacturing and chip architecture upgrades [3] - The Sci-Tech Artificial Intelligence ETF (588730) tracks an index that selects 30 large-cap companies involved in providing foundational resources, technology, and application support for AI, reflecting the overall performance of representative AI companies in the Sci-Tech Board market [4]

Core Insights - The artificial intelligence (AI) industry chain experienced a rebound in the afternoon, with the CSI Artificial Intelligence Theme Index rising by 0.4% and the Shanghai Stock Exchange Sci-Tech Innovation Board AI Index declining by 0.7% [1] - There was a significant inflow of funds into AI ETFs, with the AI ETF (159819) seeing a net subscription of over 40 million units throughout the day [1] - The latest "14th Five-Year Plan" emphasizes accelerating innovation in AI and digital technologies, enhancing the supply of computing power, algorithms, and data, and fully implementing the "AI+" initiative to empower various industries [1] - The user penetration rate of AI large models remains low, indicating that the development of large models is still in the early to mid-stages, and the industrialization cycle has just begun [1] - There is a continued positive outlook on the AI computing power sector, including both domestic and international computing power supply chains [1]