On August 13, the Big Data ETF (516700), deeply tied to domestic computing power, IDC, servers, and AI applications, saw its intraday gains reach as high as 3.43%, currently trading up 2.15%. Since hitting its year-to-date low on July 30, the daily chart may be forming a volatile upward trend.

Among its constituent stocks, Shanghai Cdxj Digital Technology Co.,Ltd. hit its third consecutive limit-up day, while Unisplendour Corporation Limited surged over 8%, Inspur Electronic Information Industry Co.,Ltd. rose more than 7%, Hongjing Technology Co.,Ltd. gained over 6%, and Sugon climbed more than 5%. Digital China Group Co.,Ltd. and Range Intelligent Computing Technology Group Co.,Ltd. also followed with gains.

The rise in the computing power leasing concept is likely linked to multiple positive news items. Internationally, overseas computing power leasing companies reported better-than-expected earnings. US AI computing power leasing firm Nebius posted Q2 revenue of $582.3 million, a 454% year-over-year increase, pushing its stock up over 34% overnight. CoreWeave's Q2 revenue doubled to $2.58 billion, with the company noting new computing power contracts signed in the second quarter contributed to gross margins 5-10 percentage points higher than previous quarters, driving its stock up more than 19% overnight.

Domestically, Tencent Holdings Limited stated that entering the third quarter, it has significantly increased computing power procurement at the infrastructure level, which will help the company convert application and model usage into revenue. On the policy front, on August 13, the Shanghai Municipal Development and Reform Commission issued an action plan to implement measures to further promote private investment development. It mentioned providing computing power subsidies in accordance with laws and regulations to support private enterprises in leasing intelligent computing resources for large model research, development, training, and application. On August 11, the Shanghai Municipal Economic and Information Technology Commission published the "15th Five-Year Plan" for the development of the software and information services industry, which includes implementing a "hundred-thousand-million" intelligent computing cluster project to form a tiered supply system of "large clusters + small clusters + edge computing power" to meet ultra-low-latency computing needs for enterprises and individuals.

Industry insiders point out that driven by agents, inference demand has long-term sustained growth potential. Combined with the sharp rise in domestic high-end computing power server channel prices, which directly reflects the current supply shortage, it is expected that the supply-demand gap for AI computing power in China will intensify. The medium- to long-term growth logic for the computing power leasing industry is relatively certain, and it has entered a dividend period of performance release.

With data security as a priority and technological self-reliance as a goal, the Big Data ETF (516700) passively tracks the CSI Data Index, deeply integrating with domestic computing power, IDC, servers, and AI applications. It covers the entire data technology process, including data storage, production, analysis, operations platforms, and applications, better reflecting the overall development of China's big data industry. The CSI Data Index includes popular concepts, with constituent stocks in cloud computing, IDC, computing power, and AI applications accounting for 89.59%, 46.79%, 47.80%, and 23.71% of the weight, respectively, as of the end of June.

Note: The Big Data ETF (516700) was previously referred to online as the Big Data Industry ETF. Regarding ETF fees: The Big Data ETF (516700) does not charge a sales service fee, and subscription and redemption agents may charge a commission of up to 0.5%, which includes fees from stock exchanges and registration institutions. On-exchange trading fees are subject to actual charges by securities companies.

Risk disclosure: The Big Data ETF (516700) passively tracks the CSI Big Data Industry Index, which has 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 compilation rules, and its historical backtest performance does not indicate future index performance. The constituent stocks mentioned in this article are for display purposes only, and individual stock descriptions do not constitute investment advice of any kind, nor do they represent the holdings or trading intentions of any fund managed by the fund manager. The fund manager's assessed risk level for this fund is R3-medium risk, suitable for balanced (C3) and above investors. Suitability matching opinions shall be based on the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, or any form of expression) is for reference only. Investors must be responsible for their own investment decisions. Additionally, any views, analysis, or predictions in this article do not constitute investment advice to readers and are not liable for any direct or indirect losses arising from the use of this content. Fund investment carries risks. Past performance of a fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Invest in funds with caution.