Core Insights - The software ETF (515230) has risen over 1.4%, driven by the demand for computing power due to advancements in large model technology [1] - OpenAI's release of the GPT-5.2 series marks a shift in large model competition from parameter scale to ecological differentiation, with OpenAI, Google, and Anthropic each excelling in different areas [1] - The enhancement of reasoning capabilities and professional knowledge work is expected to benefit enterprise applications, transitioning AI from high-dimensional search engines to autonomous execution [1] Industry Trends - The recent intensive releases from Google and OpenAI indicate that the capabilities of large models have not yet reached their peak, leading to a continuous increase in training and reasoning computing power demand, which is favorable for the computing sector [1] - The importance of proprietary data in the industry is rising, as general models address "how to think," while enterprise data determines "what to think" [1] - Enterprise-level AI applications face cost challenges, with the high pricing of GPT-5.2 Pro potentially limiting widespread adoption, but the capability improvements are expected to drive the industry from simple RAG Q&A to complex business process execution [1] ETF Overview - The software ETF (515230) tracks the software index (H30202), which selects listed company securities involved in software development, sales, and services, covering various sub-sectors such as operating systems, application software, and cybersecurity [1] - This index exhibits significant growth and innovation characteristics, effectively reflecting the market dynamics and technological development trends within the software industry [1]