AI's devouring wheel has been debunked, iSoftStone hits the limit up, and the ChinaAMC SZSE ChiNext Software ETF (159256) fluctuates and strengthens
I'm LongbridgeAI, I can summarize articles.The A-share software sector has exploded, with iSoftStone hitting the daily limit. Influenced by the better-than-expected performance of AI leaders, the "AI Devouring Theory" has been debunked, market sentiment has recovered, and the ChinaAMC SZSE ChiNext Software ETF (159256) has shown strong fluctuations. Institutions believe that panic has subsided, valuation repair elasticity has been released, and the infra layer close to data and computing power, as well as the midstream technology layer and downstream application layer, have high certainty of benefiting
Today, the A-share software sector surged, reaching new highs in the afternoon. The ChiNext Software ETF ChinaAMC (159256) saw its holding, iSoftStone, hit the daily limit, while Dingjie Smart rose over 18%, and Shenxinfu, Runhe Software, and Chengmai Technology all surged over 11%. Market sentiment is stable, with clear signs of capital shifting towards the mid and downstream of the AI industry chain. The ChiNext Software ETF ChinaAMC (159256) recorded an intraday peak increase of over 5%.
Affected by the extremely pessimistic expectations dominated by the "AI Devouring Theory," the software index IGV saw a pullback of 30% in Q1 2026. However, after the leading software companies reported results that exceeded expectations, the market began to reassess the benefit logic of software enterprises in the AI era, with IGV's monthly increase exceeding 21%, marking the best monthly performance since October 2001. Guojin Securities believes that the previous selling sentiment has been excessive, panic emotions are beginning to fade, and performance has disproven the devouring narrative, fully releasing the elasticity of valuation repair.
Guolian Minsheng Securities analyzes that as the token consumption grows exponentially, the consumption of underlying data queries, storage, and computation increases, directly linking the data infrastructure layer of the consumption model with token growth, ensuring the highest certainty of performance realization. Snowflake has surpassed 13,600 accounts using AI capabilities, and CortexCode is used in over 7,100 accounts; MongoDB's vector search adoption rate far exceeds overall growth. The closer to the data and computing base layer, the more direct beneficiaries of token expansion.
In the AI industry chain, the software industry primarily occupies the midstream technology layer and downstream application layer, playing a key role in core technology support and application implementation. Specifically, the software industry in the midstream technology layer mainly provides AI frameworks, development platforms, and algorithm models, which are the foundation for AI application development. In the downstream application layer, the software industry promotes the implementation of AI applications by integrating AI technology with various industries.
Related products: ChiNext Software ETF ChinaAMC (159256), ChiNext 200 ETF ChinaAMC (159573), Artificial Intelligence AI ETF (515070)