Tesla recently launched a new generation of electric cars, the Roadster, which uses rocket propulsion technology and AI computing concepts, stirring up the topic of flying cars. For investors, this innovation not only represents a transformation in the automotive industry, but also a new round of investment opportunities created by the expansion of AI technology. From Roadster's rocket technology to Robotaxi, self-driving systems, humanoid robots, and the Dojo supercomputer that supports huge model training needs, these innovative applications all point to the same core key: "AI computing power."
The focus of competition in the AI industry lies in who can control more computing resources, build more complete infrastructure, and convert huge investments into commercial applications and profitability more quickly. From the perspective of industrial development, AI applications are gradually moving from proof of concept to commercialization. In particular, the rapid development of agent AI (Agentic AI) has significantly expanded the scale of enterprise introduction, driving the demand for model training, inference calculations, data center construction and related hardware equipment to rise simultaneously, and also bringing the global computing power industry chain into a new growth cycle.
Tesla has branched out into many cutting-edge applications such as supercars, self-driving taxis, and humanoid robots. The core of its huge technological layout relies on the support of powerful underlying AI computing power. (Reuters)
However, recent corrections in technology stocks have been significant. This is because the financial reports of AI giants have been unable to meet market expectations. The market continues to re-evaluate the profit recovery and financing risks of the huge capital expenditures in the AI industry. Profitable financial reports cannot quell investors' concerns about the deterioration of corporate cash flow. In addition, there is still an opportunity to raise interest rates in the United States at the end of the year, amplifying the correction pressure on highly rated technology stocks.
However, looking back at industry fundamentals, AI’s long-term growth momentum has not changed significantly. Including the continued rapid growth of AI Token usage, the maintenance of high-end GPU rental prices, and the continued improvement in the visibility of cloud service provider (CSP)-related orders, all show that terminal demand remains strong. At the same time, the global economy still maintains a moderate expansion trend. Recently, the global manufacturing PMI has continued to be in the expansion range, and U.S. corporate capital expenditure and technology investment demand have also remained resilient, echoing the long-term growth trend of the AI industry. Even though the market predicts that the capital expenditure growth rate of the world's large cloud service providers will gradually slow down from the high base period in the next few years, the overall investment scale is still much higher than the past average level, indicating that the AI infrastructure construction cycle has not yet entered the end.
The evaluation level of the technology industry relative to the broader market has also returned to the historical reasonable range. As the long-term growth trend of AI has not changed, the magnitude of the revision of the evaluation level has generally reflected market concerns. Overall, the current chips, sentiment and valuations have all improved significantly compared to before, which will be conducive to the stock market bottoming out and rebounding.
For ordinary investors, if they are optimistic about the long-term trend brought about by AI computing power, instead of betting on a single company, it is better to participate in the growth opportunities of the global computing power ecosystem through thematic ETFs. Taking 009827 as an example, its investment scope covers areas such as space technology, semiconductors, cloud computing and AI infrastructure. As of September 30, 2026, the top ten holdings include representative global technology companies such as SpaceX, Huida, Microsoft, Amazon and TSMC, which can fully grasp the development dividends of the AI industry chain.
It is worth noting that the scope of benefits brought by AI is no longer limited to a few technology giants. From chip design, advanced packaging, cloud services, data center construction, to power equipment, energy infrastructure and space satellite communications, they have all become important beneficiaries of the AI era. In other words, investing in AI in the future is no longer just about investing in a company, but investing in an entire rapidly forming digital infrastructure ecosystem.
(The author is the manager of the Yushan Investment Trust ETF team)
