On August 5, the Big Data ETF Huabao (516700), which is deeply tied to domestic computing power (IDC, servers) and AI applications, saw its intraday trading price climb by as much as 3.56% in early trading. It is now up 3.35%, recovering its 60-day moving average during the session. Looking at the daily candlestick chart, since hitting a year-to-date low of 0.835 on July 30, the ETF has potentially entered a fluctuating upward trend.

Among the ETF's constituent stocks, Unisplendour Corporation hit the daily trading limit. As of the time of writing, it has attracted net capital inflows of over 1.9 billion yuan from major funds, ranking first on the A-share capital absorption list. Hongjing Technology rose over 9%, Intellifusion (U) gained more than 6%, and Inspur Electronic Information Industry and Dawning Information Industry saw significant gains.

Insiders have revealed that the U.S. government is drafting a ban to prohibit the import of new models of Chinese data center components, aiming to protect the critical infrastructure supporting the development of artificial intelligence (AI). Industry analysts believe that the U.S. is unlikely to strictly ban imports of Chinese optical modules. Firstly, from an industry structure perspective, the U.S. AI buildout is dependent on Chinese optical modules. Seven of the world's top ten optical module manufacturers are Chinese, and Chinese companies account for 70% of shipments for high-speed modules like 800G and 1.6T. U.S. manufacturers lack sufficient capacity and technological advancement. As major U.S. cloud providers accelerate their AI infrastructure construction, a failure to secure Chinese optical modules would impact the entire project timeline. Secondly, based on historical precedent, a strict ban on Chinese optical module imports is considered less likely.

Notably, Anthropic has ignited another race for computing power. The company has entered into a $10 billion computing power procurement agreement with a newly established infrastructure startup, just months old, to secure data center resources. Previously, Anthropic had signed computing power cooperation agreements with SpaceX (owned by Elon Musk), Advanced Micro Devices (AMD), and Akamai Technologies. There are also reports that the company is in talks with Meta to lease computing power from its data centers. Anthropic's competitor, OpenAI, has relied on a hybrid model combining large tech companies and emerging cloud startups to build the data center infrastructure it believes is necessary for developing more advanced AI systems and enabling widespread AI adoption. OpenAI CEO Sam Altman has previously stated that the company expects to invest "trillions of dollars" in AI physical infrastructure. It is also reported that Nvidia is in discussions with OpenAI to help it lease a 10-gigawatt, $500 billion computing center in Ohio, being advanced by SoftBank Group.

CITIC Securities points out that the computing power network has been incorporated into the national "Six Networks" major project, forming a core infrastructure direction for the "15th Five-Year Plan." Trillions of yuan in investment are gradually being deployed, making computing power infrastructure a foundational and strategic facility for the digital economy, with long-term policy dividends continuing. Against the backdrop of restricted supply of high-end overseas chips, the pace of building self-controlled intelligent computing centers and computing power hubs is accelerating, benefiting the entire industry chain.

[Data Security is Paramount, Technology Self-Reliance] The Big Data ETF Huabao (516700) passively tracks the CSI Data Index. It is deeply tied to domestic computing power (IDC, servers) and AI applications, covering the entire data technology process. This includes areas such as big data storage, big data production, big data analysis, big data operation platforms, and big data applications, better reflecting the overall development of China's big data industry. As of the end of June, the CSI Data Index included popular concepts, with constituent stocks in cloud computing, IDC (computing power leasing), computing power, and AI applications having weightings of 89.59%, 46.79%, 47.80%, and 23.71%, respectively. Note: The Big Data ETF Huabao (516700) was previously known by the intraday abbreviation Big Data Industry ETF.

ETF Fee Description: The Big Data ETF Huabao does not charge a sales service fee. Subscription and redemption agent institutions may charge commissions at a standard rate not exceeding 0.5%, which includes relevant fees charged by the stock exchange and registration institutions. Intraday trading fees are subject to the actual charges of the securities company. Risk Warning: The Big Data ETF Huabao passively tracks the CSI Big Data Industry Index, which had a base date of December 31, 2012, and was published on October 18, 2016. The index's constituent stocks are adjusted according to the index's compilation rules. The historical back-tested performance of the index does not indicate its future performance. The index constituent stocks mentioned in this article are for display purposes only. Descriptions of individual stocks do not constitute any form of investment advice and do not represent the holdings or trading intentions of any fund managed by the fund manager. The fund's risk level assessed by the fund manager is R3-Medium Risk, suitable for balanced (C3) and above investors. The suitability matching opinion is subject to the sales organization. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors must be responsible for any investment decisions they make independently. Furthermore, any views, analyses, and forecasts in this article do not constitute any form of investment advice to readers and shall not be liable for any direct or indirect losses caused by the use of the content in this article. Fund investment involves risks. The past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Fund investment should be conducted with caution.