On Tuesday, June 9th, the AI computing power sector staged a strong rebound, with optical modules and Co-Packaged Optics (CPO) regaining momentum. The ChiNext AI Index, which has over 50% exposure to optical modules and CPO, led the gains among all AI-themed market indices. A broad swath of its constituent stocks closed higher, with Taiwan Jarllysun Co., Ltd. surging 18%, Liantronics Co., Ltd. and Changxin Xinqiao Technology Co., Ltd. rising over 12%, Shenzhen Gigalight Technology Co., Ltd. climbing more than 8%, TFC Optical Communication Co., Ltd. gaining over 4%, and Zhongji Innolight Co., Ltd. advancing more than 2%.

In the ETF space, the ChiNext Artificial Intelligence ETF Hua Bao (159363), which leads its peers in both size and liquidity, surged 4.72% in the secondary market, decisively reclaiming its 20-day and 10-day moving averages. Its daily turnover exceeded 15 billion yuan, continuing to lead the trading volume among all AI-themed ETFs.

Market Drivers and Catalysts

A confluence of market developments continues to validate robust demand for AI computing infrastructure, with key component suppliers like optical module makers positioned to benefit.

Taiwan Semiconductor Manufacturing has reaffirmed its 2026 capital expenditure plan of $52 to $56 billion, underscoring the sustained, high-growth demand for advanced AI chips. This directly drives an increasing ratio of optical modules required per GPU unit.

Google and NVIDIA have listed Intel as a backup chip manufacturer. Furthermore, Google has placed an order for over 3 million Tensor Processing Units (TPUs) with Intel, highlighting strong demand for custom cloud computing chips (ASICs). The deployment of these clusters will concurrently boost demand for 800G and 1.6T optical modules.

The price of optical fiber preforms has skyrocketed by 550%, signaling tight supply for the physical interconnects between computing units. Foundational optical components, including optical modules and fiber cables, are becoming a new bottleneck in computing infrastructure build-out.

Analyst Perspective on the Sector

From a fundamental standpoint, analysts advocate maintaining confidence in investments within the optical communications sector. Among optical module manufacturers, primary suppliers with strong capabilities in securing complete material sets are favored, as they demonstrate higher certainty in delivering strong earnings this year and next. These leading players are also expected to be among the first to benefit from scale-up scenarios in optical interconnects.

Accessing the Opportunity

For investors seeking exposure to both optical modules and AI applications, the ChiNext Artificial Intelligence ETF Hua Bao (159363) and its corresponding feeder funds (Class A: 023407, Class C: 023408) are a focal point. The ETF's underlying index has a high concentration in optical modules (over 50%) and allocates approximately 30% of its portfolio to AI application companies, positioning it as a core holding for both AI infrastructure and applications.

As of June 5, 2026, the ChiNext Artificial Intelligence ETF Hua Bao (159363) had reached a size of approximately 75.07 billion yuan, ranking first in size within the AI-focused ChiNext and STAR Market ETF segment. Its average daily turnover over the past six months exceeded 800 million yuan, also leading in trading activity within the AI ETF space.

Important Fund Information and Risk Disclosure

Investors should note that subscription and redemption agents may charge a commission of up to 0.5% when dealing in fund units. Secondary market trading fees are subject to the rates set by securities firms, and no sales service fee is charged for the ETF.

For the feeder funds: Class C shares of the ChiNext Artificial Intelligence ETF Feeder Fund do not charge a subscription fee. A redemption fee of 1.5% applies for holdings under 7 days, and 0% for 7 days or more, with a 0.3% sales service fee. For Class A shares, subscription fees are 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and a flat 1,000 yuan for 2 million yuan or more. The same redemption fee schedule as Class C applies, but no sales service fee is charged.

The ChiNext Artificial Intelligence ETF Hua Bao passively tracks the ChiNext Artificial Intelligence Index (Base Date: December 28, 2018; Release Date: July 11, 2024). The index's annual performance from 2021 to 2025 was 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. Past performance of the index is not indicative of its future results. Constituent stocks are adjusted per the index methodology, and their mention herein is for illustrative purposes only and does not constitute investment advice or indicate the fund manager's holdings or trading intentions.

The fund manager assesses this fund's risk level as R4 (Medium-High Risk), suitable for Aggressive (C4) or higher risk-profile investors. Suitability assessments should be confirmed with the selling institution. All information presented is for reference only. Investors are solely responsible for their investment decisions. The views, analysis, and forecasts herein do not constitute investment advice of any kind, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks. Past performance of a fund does not guarantee future results, and the performance of other funds managed by the same manager does not assure this fund's performance. Investors should exercise caution.