Domestic token growth far exceeds that of the United States! Domestic computing power manufacturers have entered a performance critical point, the Sci-Tech Innovation Chip Design ETF GF(589210) rose over 3% intraday, with heavyweight stock Cambrian Big Jumping over 11%

Breaking news, Samsung Electronics has released its preliminary performance report for the first quarter, estimating its operating profit will reach 57.2 trillion won, more than eight times the 6.69 trillion won from the same period last year. This performance far exceeds market expectations of 40.6 trillion won, mainly due to chip supply shortages and soaring prices triggered by artificial intelligence infrastructure development.

On April 7, after Samsung Electronics increased DRAM contract prices by 100% in this first quarter, the DRAM contract prices for the second quarter will rise again by 30% month-on-month. Samsung Electronics has confirmed that it completed price negotiations with major clients by the end of March and signed supply contracts. The 30% increase in DRAM contract prices includes HBM needed for AI chips, as well as general DRAM for PCs and smartphones. GF Securities states that with GPU architecture iterations, the storage capacity and production demand per GPU for DRAM have significantly increased. On the demand side, AI server deployment is accelerating, and DRAM demand is expected to grow at 26% by 2026. However, due to delayed release of new capacity, supply and demand may remain tight until 2027 and beyond.

During the trading session on April 7, concept stocks related to computing power chips continued to rebound, with Cambrian surging over 11% intraday, pushing the stock price above 1,100 yuan. According to the latest data from OpenRouter, from March 30 to April 5, China’s weekly AI large model call volume reached 12.96 trillion tokens, a week-on-week increase of over 31%, surpassing the US for the fifth consecutive week. During the same period, the US AI large model weekly call volume was 3.03 trillion tokens, with only a slight increase of 0.76% week-on-week. The top six global call volumes are all from Chinese AI large models, with Alibaba Qianwen 3.6 series leading the list.

On the supply side, against the backdrop of accelerated domestic substitution, the localization rate of AI computing infrastructure is rapidly increasing. CITIC Construction Investment’s research report indicates that by 2025, China’s AI acceleration card market will ship approximately 4 million units, with domestic AI acceleration cards accounting for over 40%. Guojin Securities believes that the volume of domestically produced tokens has exceeded 140 trillion, and domestic computing power vendors have entered a performance critical point.

Cinda Securities points out that AI-driven incremental demand is gradually transmitting and demonstrating resilience and flexibility in performance. For example, Chipone’s new order amount in 2025 will reach 5.96 billion yuan, a year-on-year increase of 103.41%, with over 73% related to AI computing power orders. Orders in data processing mainly come from cloud AI ASICs and IP; SMIC’s etching equipment sales in 2025 will reach 572k yuan, up 35.12% year-on-year, with CCP equipment shipping over 1,000 reaction chambers annually, and total installed capacity surpassing 5,000 chambers. The overall AI industry chain upstream and downstream remains highly prosperous, with order and operational performance showing a clear trend of simultaneous improvement.

Guohai Securities believes that the chip design field is迎来 a critical inflection point in the AI inference and intelligent agent era, with explosive growth in computing power demand. As heterogeneous computing architectures become more widespread and specialized chips like LPU are introduced, chip design companies need to focus on improving energy efficiency and system-level collaboration. Securing technological barriers in high-end AI servers, storage, and computing power leasing sectors will be crucial.

In terms of on-market ETFs, as of 14:22 on April 7, 2026, the Shanghai STAR Market Chip Design Theme Index(950162) surged by 2.27%, the GF STAR Chip Design ETF(589210) increased by 2.16%, with a intraday peak over 3%. The top constituents, Shengke Communication, rose 10.06%, and Lianyun Technology increased 7.37%. The top ten weighted stocks account for 58.85% of the total, with Cambrian up 9.02%, once exceeding 11% intraday, Chipone up 3.29%, and others like Haiguang Information and Baiwei Storage following suit.

The GF STAR Chip Design ETF(589210) closely tracks the Shanghai STAR Market Chip Design Theme Index, which focuses on the midstream design segment of semiconductors, with nearly 95% of its composition! Compared to similar STAR chip indices, it is more “pure,” with a very high industry concentration!