--- title: "\"The AI Devouring Theory\" has been completely debunked! The software ETF China Merchants (159899) surged by 4.63%! SANGFOR led the charge, and US software stocks recorded their largest monthly gain in 24 years" type: "News" locale: "en" url: "https://longbridge.com/en/news/288203243.md" description: "On June 1st, the software sector exploded, with the software ETF China Merchants (159899) soaring by 4.63%. Driven by better-than-expected earnings reports from U.S. software giants and the release of AI PC chips, the argument that \"AI devours software\" has been debunked, and the market believes that AI has instead amplified the demand for system-level software. SANGFOR and other constituent stocks led the rally, with institutions pointing out that the transition of AI from demonstration to production has driven a recovery in software valuations" datetime: "2026-06-01T02:37:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288203243.md) - [en](https://longbridge.com/en/news/288203243.md) - [zh-HK](https://longbridge.com/zh-HK/news/288203243.md) --- # "The AI Devouring Theory" has been completely debunked! The software ETF China Merchants (159899) surged by 4.63%! SANGFOR led the charge, and US software stocks recorded their largest monthly gain in 24 years On the morning of June 1st, the software sector collectively surged. As of 10:25 AM, the software ETF China Merchants (159899) saw a significant increase of 4.63%, with its share expansion exceeding 67.70% year-to-date. Component stocks performed actively, with SANGFOR, Dameng Data, Dingjie Smart, Runhe Software, Tax Friend, and China Software among the top gainers. In terms of news, the last week of May saw a historic rebound in the U.S. stock market's software sector, with several software giants' earnings reports confirming that AI has not "devoured" software but rather amplified enterprises' demand for system-level software related to data infrastructure, security governance, and workflow collaboration. Companies like Snowflake, MongoDB, Okta, and ServiceNow all exceeded expectations in performance and guidance, with the IGV index rising over 21% in a single month, marking the best monthly performance since October 2001. NVIDIA announced the launch of its first AI PC-specific chip, signaling the shift of AI from data centers to edge devices, initiating a trillion-level replacement wave. Guojin Securities pointed out that AI is transitioning from "demonstration-level" to "production-level," with the massive concurrent operation of agents structurally amplifying the demand for system capabilities in data governance, real-time monitoring, permission systems, and workflow orchestration. Openrouter's weekly usage reached 39T tokens, a week-on-week increase of 35%; MiniMax submitted its A-share IPO counseling record, accelerating the securitization of domestic large models. Analysis indicates that the narrative of "AI devouring software" has been debunked, and software is now on the critical path for the large-scale deployment of AI, with valuation repair elasticity being fully released. It is understood that the software ETF China Merchants (159899) tracks the CSI Software Service Index, covering high-growth areas such as AI infrastructure, cloud computing, and cybersecurity, making it a core tool for positioning in software valuation repair and the diffusion of AI applications ### Related Stocks - [300454.CN](https://longbridge.com/en/quote/300454.CN.md) - [159998.CN](https://longbridge.com/en/quote/159998.CN.md) - [159995.CN](https://longbridge.com/en/quote/159995.CN.md) - [588170.CN](https://longbridge.com/en/quote/588170.CN.md) - [512720.CN](https://longbridge.com/en/quote/512720.CN.md) - [512480.CN](https://longbridge.com/en/quote/512480.CN.md) - [159899.CN](https://longbridge.com/en/quote/159899.CN.md) - [159325.CN](https://longbridge.com/en/quote/159325.CN.md) - [688692.CN](https://longbridge.com/en/quote/688692.CN.md) - [300378.CN](https://longbridge.com/en/quote/300378.CN.md) - [300339.CN](https://longbridge.com/en/quote/300339.CN.md) - [603171.CN](https://longbridge.com/en/quote/603171.CN.md) - [600536.CN](https://longbridge.com/en/quote/600536.CN.md) - [SNOW.US](https://longbridge.com/en/quote/SNOW.US.md) - [MDB.US](https://longbridge.com/en/quote/MDB.US.md) - [OKTA.US](https://longbridge.com/en/quote/OKTA.US.md) - [NOW.US](https://longbridge.com/en/quote/NOW.US.md) - [IGV.US](https://longbridge.com/en/quote/IGV.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [600109.CN](https://longbridge.com/en/quote/600109.CN.md) - [000959.CN](https://longbridge.com/en/quote/000959.CN.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [Nvidia Q1 results surpass Wall Street expectations thanks to massive AI chip demand](https://longbridge.com/en/news/287136333.md) - [Apacer Showcases Edge AI Storage Power at COMPUTEX 2026](https://longbridge.com/en/news/287718477.md) - [LIVE MARKETS-Chinese tech merits a place in portfolios, says AcomeA](https://longbridge.com/en/news/294673452.md) - [Alibaba unveils new Qwen model, custom chips in bid to become China’s AI factory](https://longbridge.com/en/news/287044112.md) - [China unveils GPU-free LineShine supercomputer with 2.45 million domestic CPU cores](https://longbridge.com/en/news/286741960.md)