8月26日上午，A股三大指数集体下跌，上证指数盘中下跌0.36%，美容护理、传媒、计算机等板块涨幅 靠前，钢铁、房地产跌幅居前。芯片科技股探底回升，截至9:48，芯片ETF（159995）下跌1.13%，其 成分股三安光电上涨5.15%，澜起科技上涨2.93%，格科微上涨1.70%，拓荆科技上涨1.50%。然而，海 光信息、寒武纪-U等表现不佳，其涨跌幅分别是：-4.01%、-3.53%。 消息方面，根据2025中国算力大会发布的《2025综合算力指数》显示，截至2025年6月底，我国在用算 力中心机架总规模达1085万标准机架，智能算力规模达788 EFLOPS (FP16)。中国算力平台正式完成山 西、辽宁、上海、江苏、浙江、山东、河南、青海、宁夏、新疆10个省区市分平台接入工作，实现"平 台、主体、资源、生态、场景"全面贯通，我国"全局总览、分域协同"的算力发展新格局初步形成。 长城证券研报指出，当前全球AI浪潮持续加速，催生算力需求指数级提升，同时国产诸如DeepSeek等 大模型加速推进，考虑区域政治及产业链稳定等因素，必定带来国产算力需求的持续攀升，在国产算力 基础设施逐步建设充分AI芯片技术上逐 ...

图： nugasane 周末美国暗示要降息，今天A股又热闹喧天，牛气扑面。 市场太硬、太强了... 把空头按在地上摩擦。 比如说，今天成交量突破了3万亿； 比如说，很多人觉得今天该回调了，市场确实也一度出现了放量下跌。 挺危险。 但，跌了没一会，居然又顽强地V了回来，势头还更盛了。 再比如说—— 今天的上涨，雨露均沾了。 除了极少数的行业还在下跌，几乎所有指数都在涨。 科技、资源、医药这些自然不用说，连白酒和房地产都在送温暖了。 只要你买股，今天都能感受到牛市气息。 我就是一个最典型的例子。 我是收息股为主嘛。 在牛市里属于典型拖后腿的人，温吞迟钝，进三步退两步。 只能说，A股它变了。 以前柔弱的林黛玉，现在能倒拔垂杨柳了。 二 当然，一两天的表现，也说明不了啥。 很多人还是觉得牛市不可持续。 觉得——上涨只是假动作，把足够的人骗进来了，就该杀了。 这个杀猪的时刻还远不远？ 大伙还是会迟疑： 我手里的基金/股票已经涨很多了，要不要卖掉呀？ 不卖，又被套了怎么办。 不卖，牛又断崖式结束了怎么办。 大伙都是被"大A式疯牛"玩弄过的命苦人，精神创伤太严重了 我还是劝大伙： 实在忍不住心慌，可以卖一部分落袋为安。 但 ...

来源：新浪基金∞工作室 芯片ETF（159995）业绩比较基准为国证半导体芯片指数收益率，管理人为华夏基金管理有限公司，基 金经理为赵宗庭，成立（2020-01-20）以来回报为54.16%，近一个月回报为26.00%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 8月25日，芯片ETF（159995）开盘涨3.05%，报1.590元。芯片ETF（159995）重仓股方面，中芯国际开 盘涨1.95%，海光信息涨5.34%，寒武纪涨6.26%，北方华创涨2.84%，豪威集团涨1.24%，澜起科技涨 3.79%，中微公司涨1.95%，兆易创新涨5.38%，长电科技涨2.96%，紫光国微涨1.21%。 ...

8月22日，芯片板块上涨，多只相关主题ETF涨幅超15%。芯片ETF（159995）、芯片50ETF（159560）、半导体设备ETF （561980）等多只ETF涨停。 01 8月22日，芯片板块大涨，多只相关主题ETF单日涨超15%。随着芯片股走强，芯片ETF（159995）、芯片50ETF（159560）、半 导体设备ETF（561980）等多只ETF涨停。此外，人工智能、云计算、信创、消费电子、数字经济等多类科创细分主题ETF亦有 明显涨幅。 02 今天，全市场ETF成交额为4604亿元，较昨日增长超800亿元。香港证券ETF（513090）等7只ETF成交额破百亿元。 芯片主题ETF走强 全市场ETF成交额超4600亿元 今日，香港证券ETF（513090）等7只ETF成交额破百亿元。整体来看，全市场ETF成交额达4604亿元。 | 基金代码 | 基金名称 | 今日成交额(亿元) | 换手率(%) | | --- | --- | --- | --- | | 513090.SH | 香港证券ETF | 282.70 | 96.22 | | 511360.SH | 短融ETF | 210.78 | 39 ...

Group 1 - The core viewpoint of the articles highlights the strong performance of semiconductor-related ETFs and the significant inflow of funds into specific ETFs, indicating a bullish sentiment in the market driven by AI and semiconductor cycles [1][2][3] - On August 14, semiconductor stocks showed strength, with five semiconductor-related ETFs among the top ten performers in the market, and the chip ETF (159995) rising by 1.76% [1] - The total ETF trading volume on August 14 exceeded 400 billion yuan, reaching 435.1 billion yuan, an increase of nearly 25 billion yuan compared to the previous trading day [2][3] Group 2 - China Ping An's recent acquisition of shares in China Taiping Insurance has drawn market attention, with Ping An increasing its stake to 5.04%, triggering a regulatory notice [2] - The insurance sector is seeing a trend of long-term capital allocation towards high-dividend financial assets, with many stocks in the Hong Kong market offering dividend yields exceeding 5% [2] - The market is currently experiencing a positive cycle of risk appetite and inflow of incremental funds, supported by favorable domestic policy signals and a stable external environment [3][4]

Market Performance - A-shares experienced a collective decline on August 8, with the Shanghai Composite Index down 0.12%, Shenzhen Component Index down 0.26%, and ChiNext Index down 0.38% [1] - The total trading volume in the Shanghai and Shenzhen markets was 173.63 billion yuan, a decrease of 116.2 billion yuan from the previous day [1] - Over 2400 stocks rose during the session, indicating some underlying strength despite the overall market decline [1] Sector Performance - Sectors such as engineering machinery, wind power equipment, and rail transit equipment saw gains, while the ERP concept and Huawei's Euler sector faced adjustments [1] - Major ETFs experienced a downward trend, with the A500 ETF (512050) slightly down by 0.2% [1] - AI-related ETFs showed signs of a pullback, with the chip ETF (159995) down 1.72% and the AI ETF (515070) down 1.69% [1] - The 5G communication ETF (515050), focusing on AI computing hardware, fell by 0.36%, while the AI ETF from Huaxia (159381), which has over 41% weight in optical modules, dropped by 1.87% but saw some funds increase their positions [1] Investment Outlook - Zhongyuan Securities noted that domestic liquidity remains ample, with leveraged funds, private equity, and industry ETFs continuing to enter the market [2] - Expectations for a Federal Reserve rate cut in September may support foreign capital inflow into A-shares [2] - August marks the peak for semi-annual report disclosures, raising concerns about high valuation stocks facing performance verification pressure [2] - The market is anticipated to focus on technology growth and cyclical manufacturing as the main themes moving forward [2] AI Industry Insights - The concept of physical AI is emerging as a new engine for industrial transformation, integrating AI with physical laws to enhance high-end manufacturing and energy sectors [2] - Compared to traditional AI, physical AI can understand real-world laws and utilize digital twin technology for high-precision training and dynamic adjustments [2] - Internationally, companies like NVIDIA are advancing in areas such as robot training and engineering simulation, while domestic CAE manufacturers are exploring applications in defense and embodied intelligence [2] - Analysts believe that physical AI will represent the next wave of AI development, offering efficient and cost-effective solutions for industrial upgrades [2]

Group 1 - The A-share market saw a collective rise in the three major indices, with the Shanghai Composite Index increasing by 0.26%, driven by gains in sectors such as diversified finance, basic metals, and precious metals, while energy equipment and tourism sectors faced declines [1] - The chip technology sector exhibited mixed performance, with the chip ETF (159995) rising by 0.33%. Notable gainers included Longxin Zhongke, which surged by 15.91%, and other companies like Jingjia Micro and Tuojing Technology, which rose by 1.50% and 1.41% respectively. Conversely, companies like Cambrian and Haiguang Information experienced declines of -3.11% and -0.99% [1] Group 2 - Longxin Zhongke launched the new Longxin 3C6000 series server CPU processor in Beijing, marking a significant advancement in China's self-developed and controllable general-purpose processors, which do not rely on any foreign authorized technology [3] - According to招商证券, the evolution of the global trade landscape has elevated the importance of self-sufficiency in the semiconductor industry as a key strategic focus for China's industrial development. Continuous government support for this sector is expected to enhance the outlook for self-sufficiency amid the AI innovation cycle and tariff considerations [3] - The chip ETF (159995) tracks the Guozheng Chip Index, comprising 30 leading companies in the A-share chip industry across various segments, including materials, equipment, design, manufacturing, packaging, and testing, featuring firms like SMIC, Cambrian, Changdian Technology, and Northern Huachuang [3]

全球ai由训练走向推理了。软件应用开始冒头。 2024年发布的模型总数同比均有所下降。美国为2024年发布知名模型最多的地区，数量达40个，较2023年的61个同比下降34.43%。分机构看，2024年贡 献知名模型最多的机构分别是OpenAI（7个）、谷歌（7个）和阿里巴巴（4个）。受MoE等新技术推动，2024年模型的参数数量保持快速上升趋势，规模 扩大仍是模型性能提升的重要方式。 随着强化学习时间和推理思考时间的增长，模型性能也将得到显著提升。据前OpenAI应用研究负责人Lilian Weng数据，s1实验中，通过强制延长思维链 推理路径长度，以Token衡量的平均思维时间与下游评估准确率之间展现出明显的正相关关系。据上海交通大学研究表明，通过延长AI的推理时间，仅需 500个样本训练，就能让模型在医疗诊断准确率上提升6%-11%，达到专业医生的诊断水准 。 趋势看，tokens调用激增。 2023-2024年，开发人员采用AI工具率由44%提升至63%。Google每月处理Tokens增长50倍，Microsoft Azure AI Foundry处理Tokens增长5倍。AI模型训练成 本高+的推 ...

Group 1 - The A-share market saw a collective rise in the three major indices, with the Shanghai Composite Index increasing by 0.38%, driven by gains in sectors such as leisure goods, office supplies, and daily chemicals, while ports and shipping sectors faced declines [1] - The chip technology stocks showed strong fluctuations, with the chip ETF (159995) rising by 0.41%, and notable increases in component stocks such as WenTai Technology (up 3.35%), Weir Shares (up 2.48%), and Zhaosheng Micro (up 1.68%) [1] Group 2 - The U.S. Department of Commerce officially announced the repeal of the Biden administration's AI diffusion rules and introduced three additional policy measures to strengthen global semiconductor export controls, specifically targeting Huawei's Ascend chips [3] - Xiangcai Securities emphasized the critical importance of independent AI chip development for the supply chain security of AI technology, highlighting the growing significance of domestic AI chip companies following NVIDIA's reduction of specifications for customized AI chips in China [3] - The chip ETF (159995) tracks the National Chip Index, comprising 30 leading companies in the A-share chip industry, including SMIC, Cambricon, Changdian Technology, and Northern Huachuang [3]