AI Concept Stocks Diverge: Computing Power and Application Dual Themes Lead Structural Market Trends in the Second Half of the Year

On September 22, 2026, AI concept stocks in the A-share market showed a clear divergent trend, with computing power and application as dual main themes leading structural market trends in the second half of the year. After a rapid rise in the first half of the year, the AI sector entered a deep adjustment period, with funds concentrating on high-quality targets with actual application value and performance support. This article will deeply analyze the current market dynamics, capital flows, and investment opportunities of AI concept stocks, providing timely market insights and strategic advice for investors.

Market Overview: AI Concept Stocks Show Structural Divergence

As of the close on September 22, the AI concept stock index closed at 3528 points, down 0.87% from the previous trading day, with trading volume increasing by 12.3% from yesterday. From the internal perspective of the sector, a clear structural divergence is evident: stocks related to the computing power industry chain performed strongly, while some concept stocks lacking actual application scenarios saw pullbacks. This divergence reflects the deepening of market investment logic in AI, shifting from pure theme speculation to the pursuit of actual commercial value.

In sub-sectors, sectors such as AI computing power, AI application, and AI chips performed differently. Among them, the AI computing power sector rose by 1.23%, becoming the leading theme; the AI application sector fell slightly by 0.15%; while the AI chip sector fell by 1.08%. This divergent pattern indicates that the market is re-evaluating the investment value of different sub-sectors, with areas having clear application scenarios and performance support being more favored by funds.

Capital Flows: Institutional Funds Adopt New Logic

From the perspective of capital flows, the capital structure of AI concept stocks has changed significantly recently. According to exchange data, on September 22, net inflows into AI concept stocks were about 2.35 billion yuan, with institutional funds accounting for 65%, far higher than the 35% of individual investors. This data shows that institutional investors are dominating the trend of AI concept stocks, and their investment logic is more rational.

In terms of specific investment directions, institutional funds show clear preferences: first, focusing on leading enterprises with core technologies and independent intellectual property rights, such as companies related to Huawei's Ascend industry chain; second, paying attention to areas with clear AI application scenarios and faster commercialization processes, such as AI+healthcare, AI+finance, etc.; third, investing in AI computing power infrastructure, especially sub-sectors of domestic substitution.

Notably, foreign institutions are also increasing their allocation to AI concept stocks. On September 22, funds flowing into AI-related stocks through the Hong Kong Stock Connect channel reached 870 million yuan, a new high for the second half of the year. The participation of foreign institutions has injected new vitality into AI concept stocks and brought an international investment perspective.

Computing Power Theme: Dual Drivers of Domestic Substitution and Technological Innovation

In the current AI concept stock market, the computing power theme has become the most eye-catching sector. With the continuous breakthroughs in domestic large model technology, the demand for computing power has shown explosive growth, driving the prosperity of the entire computing power industry chain. From chip design and manufacturing to servers and storage, the process of domestic substitution is accelerating.

In the chip field, domestic AI inference chips have made significant breakthroughs. The T20 chip recently released by Enflame Technology improved performance by 40% compared to the previous generation while reducing costs by 30%, providing a more competitive solution for the implementation of domestic large models. This technological breakthrough not only lowers the threshold for AI applications but also brings valuation upside to related concept stocks.

In the server field, companies related to Huawei's Ascend industry chain performed particularly well. FiberHome Tech hit the limit-up, advancing to the 100-billion-yuan market cap club, becoming a benchmark enterprise in the AI computing power industry chain. Its success stems not only from technological advantages but also from seizing the historical opportunity of domestic substitution, achieving rapid performance growth under the dual drive of 5G and AI.

From an industry trend perspective, the construction of computing power infrastructure is shifting from single hardware to integrated solutions. More and more enterprises are starting to provide end-to-end AI computing power services, including chips, servers, operating systems, and application software, forming a complete ecosystem. This trend provides investors with richer investment targets and more stable return expectations.

Application Theme: Commercialization Becomes the Keyword for the Second Half

Running parallel to the computing power theme is the application theme, with commercialization becoming the keyword for the second half of the AI concept stock market. As AI technology continues to mature, more and more application scenarios are starting to achieve commercial monetization, bringing tangible performance support to related enterprises.

In the AI application field, B-end software service providers have become a new investment theme. These enterprises usually have deep industry accumulation and customer resources, enabling them to combine AI technology with traditional industries to develop solutions with actual value. For example, in fields such as finance, healthcare, and manufacturing, AI applications have moved from the concept verification stage to the large-scale application stage.

In specific cases, custom AI agent development has become a new trend. Individual developers can earn up to 100,000 yuan per month by customizing AI agents for enterprises, and enterprises are willing to pay high fees for this to improve work efficiency and competitiveness. This phenomenon reflects the maturity and commercialization level of the AI application market.

Additionally, AI side business projects are showing vigorous development. From AI picture book creation to AI programming assistance, ordinary people have achieved considerable income through AI tools. For example, a novice mother with zero foundation can earn 20,000 yuan per month through AI picture book creation tools; while a beginner programmer can also achieve a side income of 30,000 yuan per month through AI programming tools. These cases not only showcase the commercial value of AI but also provide new investment perspectives for investors.

Policy Environment: Industrial Capital Lays Out Three New Directions

Changes in the policy environment have also provided important support for the trend of AI concept stocks. The new blueprint for the AI industry recently released by the Ministry of Industry and Information Technology clearly states that by 2028, the scale of the AI core industry is expected to reach 800 billion yuan, with an open and collaborative ecosystem becoming the keyword for the second half. This policy orientation has laid a solid foundation for the long-term development of AI concept stocks.

Driven by policies, industrial capital is starting to lay out three new directions: first, AI+manufacturing, promoting the intelligent upgrading of the manufacturing industry; second, AI+services, improving the efficiency and quality of the service industry; third, AI+agriculture, helping agricultural modernization. These directions not only align with national strategic needs but also have broad market space and commercial value.

At the same time, local governments have also introduced supportive policies for the development of the AI industry, including tax incentives, financial subsidies, and talent introduction, creating a favorable external environment for the development of AI concept stocks. These policy dividends will further promote the rapid development of the AI industry and provide a catalyst for the valuation increase of related concept stocks.

Investment Strategy: How to Seize AI Concept Stock Opportunities in the Second Half

Facing the divergent market of AI concept stocks, investors need to adopt a more cautious and rational investment strategy. Here are some specific investment suggestions:

• Focus on Core Technologies and Independent Intellectual Property: Choose enterprises with core technological advantages, independent intellectual property, and patent reserves, as these enterprises are more likely to stand out in competition and achieve long-term value growth.
• Value Commercialization Capability: Pay attention to enterprises that have achieved commercial monetization and have stable income sources, avoiding blind pursuit of concept speculation. Commercialization capability is a key indicator of an AI enterprise's value.
• Invest in Sub-sector Leaders: In each sub-sector of the AI industry chain, invest in leading enterprises. These enterprises usually have stronger market competitiveness, richer customer resources, and more stable performance.
• Pay Attention to Valuation Rationality: In the current market environment, it is necessary to pay more attention to valuation rationality and avoid blindly chasing high prices. For enterprises with excessively high valuations and lack of performance support, a cautious attitude should be maintained.
• Combine Long-term Holding with Swing Trading: The AI industry has long-term investment value, but short-term fluctuations will also occur. Investors can adopt a strategy combining long-term holding and swing trading to grasp long-term trends while flexibly responding to short-term fluctuations.

Future Outlook: Long-term Investment Value of AI Concept Stocks

Although the current AI concept stock market is diverging, in the long run, the AI industry still has huge investment value. As technology continues to advance and applications expand, AI will profoundly change various industries, creating enormous economic and social value.

From a global perspective, the AI industry is in a golden period of rapid development. According to the latest data, global AI enterprise financing reached a record high of 45 billion USD in Q2 2026, a year-on-year increase of 35%. This data shows that global capital's confidence in the AI industry remains firm, providing strong support for the long-term development of AI concept stocks.

In the Chinese market, the AI industry is also showing a vigorous development trend. Data released by the Ministry of Industry and Information Technology shows that China's AI investment surged by 45% in the first half of 2026, with intelligent manufacturing becoming a new growth engine. This trend indicates that China's AI industry is shifting from policy-driven to market-driven, with stronger endogenous growth momentum.

Looking ahead, the trend of AI concept stocks will focus more on actual value and performance support rather than pure theme speculation. Enterprises that can truly transform AI technology into commercial value and achieve sustainable growth will gain market favor and investor recognition. For investors, grasping this trend and choosing enterprises with core competitiveness and commercialization capabilities will be the key to obtaining long-term returns.

Conclusion

On September 22, 2026, the AI concept stock market showed a clear divergent trend, with computing power and application as dual main themes leading structural market trends in the second half of the year. In this process, the market investment logic shifted from theme speculation to value investment, institutional funds dominated the market trend, and commercialization became a key consideration factor.

For investors, the current AI concept stock market presents both opportunities and challenges. On the one hand, the AI industry has long-term investment value, with policy support and industrial capital layout providing a solid foundation for industry development; on the other hand, market divergence is intensifying, requiring more attention to enterprises' core competitiveness and commercialization capabilities.

In terms of investment strategy, it is recommended that investors focus on core technologies and independent intellectual property, value commercialization capability, invest in sub-sector leaders, pay attention to valuation rationality, and adopt a strategy combining long-term holding and swing trading. Only in this way can investors seize investment opportunities in the divergent market of AI concept stocks and achieve long-term returns.