NVIDIA's (NVDA.US) financial results for the first quarter of fiscal year 2027, as disclosed on its investor relations website, reveal record-breaking performance. The company achieved total quarterly revenue of $81.6 billion, marking an 85% year-over-year increase and a 20% sequential rise. The Data Center segment, serving as the core engine for AI, contributed $75.2 billion, surging 92% year-over-year and accounting for a dominant 92% of total revenue. This underscores that AI infrastructure remains a powerful growth driver for the company. Notably, NVIDIA provided an optimistic outlook for the second quarter, forecasting revenue between $89.1 billion and $92.8 billion, again surpassing market consensus. The smooth progress in shipping the Blackwell platform and the new demand opened by the Vera CPU indicate that demand for AI training and inference continues to explode, reflecting an ongoing acceleration in AI infrastructure build-out. NVIDIA's stellar performance reaffirms its strong growth momentum in the AI sector. Beyond the impressive financial figures, this quarter's results also highlighted the much-discussed trend of Agentic AI. Citing founder and CEO Jensen Huang's remarks during the earnings call: "The construction of AI factories is accelerating at an incredible pace. This is the largest infrastructure expansion in human history. Agentic AI has arrived and is already creating real value across industries, rapidly proliferating." In fact, earlier this year, Huang used the analogy of a "five-layer cake" in a signed article to describe the structure of the current AI industry chain, from bottom to top: Energy, Chips, Infrastructure, Models, and Applications. He pointed out that the top application layer is currently proliferating rapidly, and this force will powerfully pull demand across the entire AI industry chain from the top down, creating comprehensive and sustained growth momentum. NVIDIA's results corroborate this view. Looking beyond the headline numbers, within the Data Center business details, NVIDIA's Data Center Networking revenue reached $14.8 billion, a 199% annual increase, while core Compute revenue rose 77% year-over-year to $60.4 billion. Both segments showed robust performance, but they indicate that the focal point of growth in the AI race is shifting from "chip performance" to "system-level efficiency." From this perspective, it's evident that beneficiaries in the AI landscape are no longer limited to chip companies alone. As suggested by Huang's "five-layer cake" analogy, the entire industry chain stands to benefit simultaneously. For AI exposure, utilizing an ETF offers a low-cost way to invest directly across multiple sectors, capturing growth opportunities in various domains. An example is the E Fund Artificial Intelligence ETF (03489). This ETF closely tracks the FTSE Custom Artificial Intelligence Select Index, which selects 50 leading AI companies from the Hong Kong and US stock markets. According to external data sources, as of May 21, the ETF's largest holding was NVIDIA, with a weighting of 9.17%. It also covers other global computing power leaders and semiconductor companies such as Advanced Micro Devices (AMD.US), Broadcom (AVGO.US), Taiwan Semiconductor Manufacturing Company (TSM.US), Micron Technology (MU.US), Lumentum (LITE.US), and SanDisk (SNDK.US). In the application and model layers, it includes companies like Microsoft (MSFT.US), Apple (AAPL.US), Amazon (AMZN.US), Google (GOOG.US), and Apple (AAPL.US). The rationale for the ETF's allocation across both the US and China is the significance of the AI race in both regions. In the AI landscape, the US leads in the model layer and computing chips, but faces potential constraints in data center expansion due to power supply limitations. China controls hardware production capacity for components like optical modules and PCBs and boasts a massive power generation capacity exceeding one hundred trillion kilowatt-hours, giving it an energy advantage, though it relies on imports for advanced semiconductor manufacturing. Model innovation requires energy support, and computing power expansion requires chip supply. The ETF allows for investment in key leaders across both geographies, enabling investors to benefit throughout the entire AI value chain. For Hong Kong-listed constituents, the ETF includes companies such as Semiconductor Manufacturing International Corporation (00981), Hua Hong Semiconductor (01347), Alibaba Group (09988), Xiaomi Corporation (01810), Tencent Holdings (00700), Horizon Robotics (09660), UBTech (09880), and Kingboard Holdings (00148), among others. The FTSE Custom Global Artificial Intelligence Select Index, which the ETF tracks, demonstrates excellent balanced characteristics. Since its base date in 2022, the index has achieved a Sharpe Ratio of 1.02. A figure above 1 indicates that its risk-adjusted return performance offers favorable value. In terms of returns, as of April 30, 2026, the index's annualized return since its base date slightly outperformed the Nasdaq-100 Index (.NDX.US) and significantly outperformed the Hang Seng Tech Index. Compared to the Hang Seng Tech Index, it shows clear advantages in both total return and Sharpe Ratio. According to media data, as of May 21, 2026, the FTSE Custom Global Artificial Intelligence Select Index had delivered a return of 20.0% for the second quarter to date. (Note: The above is merely an objective presentation of the historical performance of the underlying index. Past index performance does not predict future fund returns and should not be taken as any investment advice. Investors should be aware of index volatility risks. A fund's actual returns are affected by factors such as management fees and tracking error and may differ from the index's performance. Investors should take note.) The E Fund AI ETF (03489) is a thematic ETF focused on the global AI industry chain, helping investors achieve one-stop exposure to the entire AI race while covering leading companies from both the Chinese and US markets. Investors can gain broad allocation across key AI domains—computing power, models, infrastructure, and applications—without focusing solely on indices like the Hang Seng Tech Index (800700) or the Nasdaq Composite Index (.IXIC.US). Amid the AI wave, whether in the Hang Seng Index (800000), the S&P 500 Index (.SPX.US), or other major markets, semiconductor and AI-related companies are significant beneficiaries. This ETF offers a balanced and efficient allocation method, allowing investors to more comprehensively capture the long-term growth opportunities presented by AI.