NVIDIA's Revenue Grows by 265%, NVIDIA Concept Stocks Soar
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On February 22, 2024, computing power concept stocks performed actively, with Tongniu Information and Shuguang Digital Innovation rising by more than 10%, Meili Cloud and Sugon hitting the limit-up, and the AI Artificial Intelligence ETF (512930.SH) opening significantly higher, now up by 3.88%.
On the news front, NVIDIA's highly anticipated Q4 financial report was released after the market closed on Wednesday. The report showed that NVIDIA's Q4 revenue increased by 265% year-on-year, with earnings per share soaring by 765% year-on-year. The company's revenue and profits have set records for three consecutive quarters. Jensen Huang stated that generative AI has reached a "tipping point." Due to Q4 performance and Q1 guidance both exceeding analysts' expectations, NVIDIA's stock surged by more than 10% after hours.
Zhongtai Securities pointed out that the new decade-long wave of technological and industrial revolution in AI has begun. Short-term adjustments do not affect the long-term investment opportunities in the industry. Overseas markets have already entered the commercial implementation phase, with blockbuster products like ChatGPT and Midjourney emerging. Software giants such as Microsoft, Adobe, Salesforce, and Zoom have also launched commercial products, awaiting further data validation.
The AI Artificial Intelligence ETF closely tracks the CSI Artificial Intelligence Theme Index. The CSI Artificial Intelligence Theme Index selects 50 listed company securities whose businesses involve providing foundational resources, technologies, and application support for AI as index samples to reflect the overall performance of AI-themed listed company securities.
Data shows that as of January 31, 2024, the top ten weighted stocks of the CSI Artificial Intelligence Theme Index (930713) are Hikvision (002415), iFlytek (002230), Zhongji Innolight (300308), Will Semiconductor (603501), Kingsoft Office (688111), Montage Technology (688008), Sugon (603019), Unisplendour (000938), Dahua Technology (002236), and Eoptolink (300502). The top ten weighted stocks account for 49.42% of the index.
The CSI Artificial Intelligence Index has a balanced layout in the upstream computing power, midstream algorithms, and downstream AI+ applications of the industry chain. For the AI sector, which is still in the early stages of explosive growth, index investing is an excellent tool to capture the beta opportunities of the industry's explosion. The related product is the AI Artificial Intelligence ETF (512930.SH).
This information and data are for reference only and do not constitute investment advice.