AI computing power content exceeds 56%, the Growth Enterprise Market Artificial Intelligence ETF Huaxia (159381) surges over 8% with a strong rebound, offering the lowest fee rate among peers.

On the afternoon of April 8th, the AI computing power sector accelerated its rally. As of 13:26, the Huaxia Artificial Intelligence ETF on the ChiNext with the lowest similar fee rate (159381) rose over 8%, leading all market ETFs. The holdings include BlueFocus (20cm) hitting the daily limit, and stocks like Oriental Securities, Yidian Tianxia, Wangsu Technology, Capital Online, Han De Information, Xie Chuang Data, and Aofei Data all rose over 10%.

The prosperity of computing power continues to climb. Along with the explosion of Agent applications and multi-modal ecosystems, global token usage is entering a new round of rapid growth. According to OpenRouter data, the weekly token consumption over the past year increased from 2.1 trillion to 24.5 trillion, a 280% increase since 2026. Domestic model manufacturers and cloud platforms are lowering the quotas and discounts for Coding Plans, and products from companies like Zhipu are experiencing purchase restrictions.

With the surge in tokens, domestic computing power expenditure is expected to explode. CITIC Securities pointed out that from the supply side, according to company announcements, the combined capital expenditure of the four major U.S. CSPs (Microsoft, Amazon, Google, Meta) in 2025/2026 will reach $2.1T / $650 billion, while China’s BBAT’s capital expenditure in 2025/2026 is only $24.5T / $66.97 billion. Domestic capital expenditure has been severely insufficient over the past two years. We believe that a significant mismatch between supply and demand indicates that the next two years will be a big year for capital expenditure in China’s cloud industry chain.

The Huaxia Artificial Intelligence ETF on the ChiNext (159381), deeply focused on the AI computing power industry chain, has high weights in popular concepts such as optical module CPO, computing power leasing, and cloud services, with AI computing power concept stocks accounting for up to 56%. The top 10 holdings are New Easy盛 (15%), Zhongji Xuchuang (14%), Tianfu Communication (10%), Runze Technology, BlueFocus, Xie Chuang Data, Kunlun Wanfang, Beijing Junzheng, Wangsu Technology, and Tonghuashun. The fund currently has nearly 2 billion yuan in assets, with an on-market comprehensive fee rate of only 0.20%, among the lowest in its category, suitable for investors seeking high elasticity and optimistic about AI+ themes. Off-market connection (Type A: 025505; Type C: 025506).

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