On September 19, the ChiNext Artificial Intelligence ETF managed by HuaBao closed up 0.58%, with a trading volume of 1.2 billion yuan. The constituent stocks showed mixed performance; on the upside, TFC led the gains, while ALLWINNERTECH led the declines. In news, NVIDIA and Intel announced a partnership on September 18, with NVIDIA investing $5 billion in Intel at a share price of $23.28. In the data center sector, Intel will customize x86 CPUs for NVIDIA, which will integrate them into AI infrastructure platforms for market deployment. In personal computing, Intel will produce and supply x86 system-on-chip solutions integrated with NVIDIA RTX GPU chips to the market. First Shanghai Securities believes that under the backdrop of U.S. restrictions on chip exports, domestic computing power chips are expected to capture a larger market share, achieving a market worth hundreds of billions. CITIC Construction Investment Securities stated that in the first half of the year, consumer electronics and semiconductors continued to recover, and with further catalysis from AI computing power, the industry has entered a new phase of dual prosperity resonance, driving continuous upward performance. Looking ahead to the second half of the year and next year, the peak season for consumer electronics combined with the intensive release of new AI products on the edge, along with positive capital expenditure guidance from major domestic and foreign AI-related companies, is expected to drive the fundamentals of the electronics industry positively. Coupled with various favorable catalysts such as innovation and upgrades, the industry cycle is expected to continue upward, highlighting the overall allocation value
