The three major indexes bottomed out and rebounded in the early trading, staged a Jedi counterattack - the ChiNext Index rose to 3%, the Shenzhen Component Index rose 2.5%, and the Shanghai Composite Index also rose 10.8%. More than 2,900 stocks in the entire market rose, the semiconductor and computing hardware sectors led the rise in the two markets, and the direction of AI hardware increased explosively. Zhongji Xuchuang rose nearly 10%, Xinyisheng rose more than 8%, and core tracks such as optical modules and CPO collectively rose the daily limit.
1. Computing power hardware has attracted global resonance, and North American AI big model iteration has accelerated (such as OpenAI releases GPT-5 and Google launches Genie3), which directly drives computing power demand. Oracle expects cloud infrastructure revenue to grow 77% to US$18 billion in fiscal 2026, and US stocks rose 27% after the market closed.
The market value of the domestic computing power leader Foxconn exceeded one trillion yuan, and its net profit in the first half of the year increased by 38.6% year-on-year, becoming the "stabilizing force" of the A-share computing power sector. This resonance of internal and external demands makes optical modules, servers and other hardware the main focus of funds.
2. The policy "Opinions on Deeply Implementing the "Artificial Intelligence +" Action" was implemented, clarifying that AI applications have shifted from technological exploration to full implementation. On the capital side, the GEM Artificial Intelligence ETF (159363) has attracted more than 2 billion yuan in the past 20 days, of which the weight of optical modules accounts for more than 51%, becoming the core of the capital group. This combination of "policy reassurance + real money and money" has enabled technology stocks to emerge from an independent market.
Today, semiconductors: memory chips, AI chips and other sub-sectors continue to make breakthroughs, and the production capacity of enterprises such as Changxin Storage and SMIC has been released. In addition, Huawei's full connection conference is approaching (September 18), the upstream and downstream of the industrial chain ushered in a peak order season. From a technical perspective, the semiconductor index broke through the annual line suppression, with good cooperation in quantity and price, and is expected to replicate the main upward trend in the second half of 2023.
2. Computing hardware: from performance cashing to valuation revaluation
The revenue growth rate of Zhongji Xuchuang and Xinyisheng in the first half of the year exceeded 80%. Institutions predict that global AI computing capital expenditure will reach a high growth of 64% in 2025. Guosheng Securities pointed out that the computing power sector has shifted from "profit realization" to "value revaluation", and leading companies are expected to enjoy a valuation premium. Under this logic, companies with core technical barriers (such as Tianfu Communications and Liante Technology) are more worthy of long-term follow-up.
Capture the main line of computing power opportunities at present; at the same time, allocate low-valuation defense sectors such as banks and electricity to hedge market fluctuations. For radical investors, you can pay attention to the low-price opportunity of the robot sector to fall back to the 20-day moving average. The recent adjustment of the sector is more like a rising relay.
For ordinary retail investors, instead of frequently chasing up and selling down, it is better to increase positions in batches when the technology leader pulls back and wait patiently for the arrival of the main upward wave.
