During midday trading on August 27, optical module and other Nvidia supply chain stocks strengthened, with Tianfu Communication surging over 8%, while Eoptolink Technology and Zhongji Innolight both gained nearly 3%. The benchmark index tracked by the high-exposure ChiNext AI ETF (159363) climbed more than 3% intraday. On the news front, Nvidia's fiscal 2027 Q2 results comprehensively beat expectations, with revenue reaching $96.2 billion, a massive 106% year-over-year increase, and its Q3 guidance also exceeded market forecasts. The company unprecedentedly provided early guidance for fiscal 2028 revenue growth of approximately 70%, far surpassing the market's expected 45%. Management explicitly stated that supply remains the biggest bottleneck. Meanwhile, the Vera Rubin platform has entered full production and begun shipping, expected to contribute roughly 20% of data center revenue in Q3, underscoring that robust demand for computing power remains unchanged.

Industry Resonance: Computing Power Boom Persists

Nvidia's significant upward revision of its long-term revenue guidance, coupled with its explicit acknowledgment of supply constraints, reinforces expectations for sustained capital expenditure in computing infrastructure. The expansion of AI cluster scale places higher demands on inter-node interconnection efficiency, accelerating the adoption pace of high-speed optical interconnect solutions. The optical module industry is now deeply intertwined with the GPU iteration cycle, with their prosperity levels becoming increasingly correlated. As core players in the global computing power supply chain, A-share optical module leaders are well-positioned to benefit continuously from the spillover of overseas demand.

Key Beneficiary: Vera Rubin Enters Full Production

Vera Rubin has now entered full-scale production, and its leap in computing density demands higher bandwidth for Scale-Up network interconnections. The accompanying high-speed optical modules and interconnect solutions face structural upgrades in both configuration ratios and speed tiers. Leading optical module manufacturers deeply embedded in the next-generation platform's supply chain are poised for a repricing of product value. A-share optical module leaders including Zhongji Innolight, Eoptolink Technology, and Tianfu Communication hold critical positions in overseas supply chains, with promising earnings elasticity. For investors looking to capture the high-exposure optical theme, attention is drawn to the ChiNext AI ETF Huabao (159363) and its off-exchange feeder funds (Class A: 023407, Class C: 023408), which focus on optical module and CPO leaders while also covering AI applications. The benchmark index's combined weight of Zhongji Innolight, Eoptolink Technology, and Tianfu Communication approaches 40%, positioning it as a core flagship for AI computing power investments. Data sources: Shanghai and Shenzhen Stock Exchanges, Wind, etc. Note: As of August 21, 2026, according to Guozheng Index, the top three constituents of the ChiNext Artificial Intelligence Index are Eoptolink Technology (13.77%), Zhongji Innolight (13.17%), and Tianfu Communication (10.56%).

Reminder: Market volatility may be significant in the near term, and short-term gains or losses do not predict future performance. Investors should make rational investment decisions based on their own capital situations and risk tolerance, paying close attention to position and risk management. ETF fee details: When subscribing or redeeming fund shares, the subscription/redemption agency may charge a commission of up to 0.5%. On-exchange trading fees are subject to actual charges by securities companies, with no sales service fee levied. Feeder fund fee details: Huabao ChiNext AI ETF Feeder Fund Class C charges no subscription fee; redemption fees are 1.5% within 7 days and 0% for 7 days or more; the sales service fee is 0.3%. Huabao ChiNext AI ETF Feeder Fund Class A charges a 1% subscription fee for amounts below 1 million yuan, 0.6% for amounts between 1 million and 2 million yuan (inclusive), and 1,000 yuan per transaction for amounts of 2 million yuan or above; redemption fees are 1.5% within 7 days and 0% for 7 days or more; no sales service fee is charged. According to the fund manager's assessment, the ChiNext AI ETF Huabao carries a risk rating of R4 (medium-high risk), suitable for aggressive (C4) and above investors; the final suitability opinion is subject to the sales institution. Risk disclosure: The ChiNext AI ETF Huabao passively tracks the ChiNext Artificial Intelligence Index, with a base date of December 28, 2018, and a publication date of July 11, 2024. The index's annual returns for 2021-2025 were 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively, with corresponding annualized volatility of 23.73%, 27.34%, 38.02%, 45.42%, and 41.1%. Index constituent composition adjusts periodically according to index compilation rules, and backtested historical performance does not predict future index returns. Index constituents shown in this article are for demonstration only, and individual stock descriptions do not constitute investment advice of any form, nor do they represent the holdings or trading activities of any fund under the manager. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, or any form of expression) is for reference only, and investors bear full responsibility for their own independent investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute investment advice to readers in any form, nor do they assume any responsibility for direct or indirect losses arising from the use of this content. Fund investment carries risks. Past performance of funds does not represent future results, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Investors should invest cautiously.