Recently, computing power hardware, particularly optical modules, has frequently risen. The "Yi Zhong Tian" stocks (Innolight, Zhongji Innolight, TFC Optical Communication) all hit record highs. The ChiNext Artificial Intelligence Index, which has an optical module weighting exceeding 41%, has surged 52% year-to-date, significantly outperforming other AI indices like the CSI Artificial Intelligence Index and the STAR Board AI Index, continuing to lead the current AI market rally.

Amid the rising market, the first-ever ChiNext AI ETF (159363) in the overall market has seen continuous capital inflows. From August 14th to August 20th, accumulated capital increased by 659 million yuan, with the latest fund shares reaching a record high of 3.97 billion. Leveraged funds also showed impressive performance: over the past 4 days, leveraged capital inflows into 159363 accumulated to 54.057 million yuan, and the latest margin balance reached a record high of 112 million yuan. As of August 20th, the ChiNext AI ETF (159363) reached a new listing high with a latest AUM exceeding 2.8 billion yuan. Its average daily turnover over the past month exceeded 250 million yuan, ranking first among the 6 ETFs tracking the ChiNext AI Index.

On the news front, global AI infrastructure development continues to heat up, suggesting sustained high demand for computing power: (1) OpenAI recently indicated plans to invest trillions of dollars in the future for developing and operating the infrastructure needed for AI services; (2) Q2 2025 earnings reports from North American hyperscale cloud providers show continued expansion in capital expenditures; (3) Domestic internet giants continue to ramp up AI infrastructure investments.

Guosheng Securities points out that the computing power sector is currently experiencing resonance across macro, meso, and micro dimensions. The logical cycle of "computing infrastructure investment → application monetization → expansion in vertical sectors → reinvestment" for the entire AI computing industry is once again being reinforced. Simultaneously, the logic chain of "computing advantage → AI application advantage → market advantage" emphasizes the urgency of the giants' computing power arms race. These two logical chains corroborate each other, clearly indicating robust industry prosperity. Computing power is set to become one of the most crucial resources in the future.