INNOSCIENCE (02577) saw its stock rise by more than 13% during the session. At the time of writing, the share price had increased by 10.92% to HK$82.30, with a trading volume of HK$613 million.

Recently, CMB International released a report stating that NVIDIA's first-quarter results once again exceeded expectations, and the company raised its guidance for the second quarter ending in late July. However, the more significant insight is that the economic benefits of AI infrastructure are becoming increasingly sustainable. Coupled with visibility into the US$1 trillion Blackwell/Rubin pipeline through 2027, new monetization opportunities from the Vera CPU, and a larger capital return plan, the first-quarter results have alleviated market concerns that fiscal year 2027 might represent only a one-time peak demand. They also reinforce NVIDIA's transition from a GPU supplier to a full-stack AI factory platform.

The report notes that the visibility into Blackwell/Rubin and the Vera CPU extend NVIDIA's growth narrative from GPU demand to the control layer of the AI factory platform. CMB International views Vera as NVIDIA's move into the CPU-side control layer within AI agents, where the CPU manages orchestration, tool usage, memory, and other functions, while the GPU handles inference and reasoning.

The firm also remains optimistic about domestic beneficiaries of the global expansion in AI infrastructure capital expenditure. These include leading optical module manufacturer Zhongji Innolight, PCB supplier Shengyi Technology, and data center power supply provider INNOSCIENCE.