"Lobster Fever" ignited, as domestic large models become an internet sensation worldwide! Huabao Fund's Sci-Tech Artificial Intelligence ETF (589520) rises rapidly, attracting 3.43 million yuan in a single day.

On Friday (March 27), the Huabao Sci-Tech Artificial Intelligence ETF (589520), which focuses on the domestic AI industry chain, rapidly surged from below the surface, with an on-market price increase of 0.35%. Notably, this ETF attracted 34.3 million yuan in a single day yesterday. Looking at the longer term, it has cumulatively gained 76.84 million yuan over the past 20 days, reflecting that funds are optimistic about the future performance of the domestic AI sector, entering the market early to take positions!

In terms of constituent stocks, semiconductor leaders led the way, with Hengxuan Technology rising over 5%, Anlu Technology and Lexin Technology both increasing by more than 3%. Additionally, companies like Sikan Technology, Yingshi Innovation, and Jingchen Co. also saw gains.

The “Lobster” model is an open-source model that does not bind to underlying large models, allowing users to choose from various large models. This directly stimulates a rapid influx of global developers and users, especially from Chinese large model enterprises that focus on open-source. Moreover, the cost of Chinese large models is lower than that of the United States, making users more inclined to use domestic large models. This is also the reason behind the rapid rise of domestic large model enterprises during this current “Lobster” boom. Consequently, this has directly ignited demand for upstream computing power, with cloud service providers experiencing exponential growth in computing power rentals and server orders.

According to Huatai Securities, compared to chatbots, the token (the basic unit of text processed by large language models) consumption of intelligent agents may increase more than tenfold, corresponding to a hundredfold increase in computing power demand. This transformative demand will drive inference computing power to historically surpass training computing power, becoming the core support for computing power demand.

CITIC Securities believes that the explosive popularity of “Lobster” marks the transition of intelligent agents from concept to reality, with computing power demand shifting from a pulsed to a sustained state, becoming the long-term growth engine of the computing power industry chain. CICC also stated that the widespread adoption of “Lobster” will quickly amplify the gap in inference computing power, forcing upgrades in computing power hardware and expansion of computing power services.

[The Light of Domestic Substitution, Independent and Self-Reliant in Sci-Tech]

The Huabao Sci-Tech Artificial Intelligence ETF (589520) and its linked funds (Link A: 024560, Link C: 024561) focus on the domestic AI industry chain, with constituent stocks including domestic GPU leaders (such as Cambricon), domestic ASIC leaders (such as Chipone), and AI application leaders (such as Kingsoft Office). The semiconductor industry accounts for nearly half of the weight, demonstrating strong aggressiveness; the software industry accounts for over 30%, expected to benefit from the AI application rebound. Additionally, this ETF is a margin trading target, serving as an efficient tool for positioning in domestic computing power.

Risk Warning: The Huabao Sci-Tech Artificial Intelligence ETF passively tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index, with a base date of December 30, 2022, and to be released on July 25, 2024. The annual growth rates of this index for 2023 and 2024 are projected to be: 12.68% and 32.36%, respectively. The composition of index constituent stocks will be adjusted in accordance with the index compilation rules, and its back-tested historical performance does not predict future performance of the index. The individual stocks and index constituent stocks mentioned in this article are for display purposes only, and individual stock descriptions do not constitute any form of investment advice, nor do they represent any holdings or trading directions of any funds managed by the manager. The fund manager assesses the risk level of the Huabao Sci-Tech Artificial Intelligence ETF as R4 - medium to high risk, suitable for aggressive investors (C4) and above; suitability matching opinions should be based on the sales institution’s guidance. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of statement, etc.) is for reference only, and investors must be responsible for any investment decisions made independently. Furthermore, any opinions, analyses, and forecasts in this article do not constitute any form of investment advice to readers, nor does it bear any responsibility for any direct or indirect losses arising from the use of this content. Fund investments carry risks, the past performance of the fund does not guarantee its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance; fund investments should be made with caution.

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