Software ETF Guotai (515230) drops over 3%, demand for AI large models surges explosively, and the software sector's pullback may present opportunities for layout.

On April 2, the software ETF Guotai (515230) fell by more than 3%. With the explosive surge in demand for AI large model calls, a pullback in the software sector may present opportunities to position for the future.

Relevant institutions said that the global AI video segment has recently entered a stage of reshaping the competitive landscape. OpenAI has shut down the Sora business, while domestic vendors continue to push forward product iteration and commercialization. Competition in AI video is accelerating the shift from showcasing model capabilities to competing on commercialization implementation, investment in computing power, and closed-loop capabilities in scenarios. Meanwhile, demand for AI large model calls is surging explosively. China’s daily Token call volume has increased from 100 billion at the start of 2024 to 140 trillion in March 2026, reflecting that systems for large model invocation, distribution, and settlement are being formed at an accelerated pace. The build-out of underlying hardware infrastructure for domestic computing power is also being rapidly rolled out. Cities such as Shenzhen are laying out the AI server industry chain in a systematic way. The domestic computing power industry chain, both upstream and downstream, is showing a high-growth momentum. Ongoing releases of demand for AI, data centers, and local substitution are continuing to drive simultaneous expansion at both ends—computing chip design and wafer manufacturing.

The software ETF Guotai (515230) tracks the Software Index (H30202). This index mainly reflects the overall performance of listed software industry companies. Its constituent stocks include companies engaged in system software, application software development, and related services. The index focuses on the information technology sector and has characteristics of relatively high growth and innovation.

Risk warning: Stocks mentioned are only used for industry event analysis and do not constitute any stock recommendation or investment advice. Short-term rises and falls in indices are for reference only and do not represent any commitment or guarantee regarding future performance. Views may be adjusted as market conditions change, and do not constitute investment advice or commitments. The risk and return characteristics of different funds vary; investors are advised to carefully read the fund legal documents, fully understand product elements, risk levels, and the principles of income distribution, choose products that match their own risk tolerance, and invest cautiously.

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