Systematic Assessment of Investment Opportunities and Risks in Three Major Industrial Chains Amid AI Investment Volatility in 2026

Based on the latest market data analysis, AI investment in 2026 will show significant volatility characteristics, and the three core industrial chains will present differentiated investment opportunities in different dimensions. In the current market environment, it is recommended to adopt the “Core-Satellite-Hedge” three-layer allocation strategy, focusing on the robustness of the

, the growth of the , and the stability of the .

The U.S. stock market shows a分化态势, with the Dow Jones Industrial Average performing best (+4.78%), while tech stocks are relatively under pressure, with the Nasdaq rising only 1.99% [0]. Sector rotation is obvious: the consumer staples sector led the decline (-1.64%), and the healthcare sector performed best (+0.73%), indicating that the market is tilting towards defensiveness [0].

From 2024 to 2025, AI infrastructure-related stocks showed severe differentiation:

• Palantir (PLTR)
  : Up 1005.25%, reflecting market enthusiasm for AI software platforms [0]
• Vistra (VST)
  : Up 342.11%, benefiting from expectations of growing power demand [0]
• NVIDIA (NVDA)
  : Up 265.97%, solidifying its leading position in AI chips [0]
• Equinix (EQIX)
  : Down 6.03%, with data center REIT valuations under pressure [0]

:

• Surge in AI computing power consumption
  : The power consumption of a single AI training cluster can be more than 10 times that of traditional data centers
• China’s power grid advantage
  : China’s power generation growth from 2010 to 2024 exceeded the sum of other regions in the world, and its power generation in 2024 was more than twice that of the United States [2]
• Global power investment
  : From 2025 to 2030, the world will add more than 200 GW of gas-fired power generation capacity, with nearly 60% concentrated in countries along the “Belt and Road” [1]

:

• Vistra Corp (VST)
  : A major U.S. power supplier with a market capitalization of $57 billion and a 52-week high of $219.82 [0]
• Gas turbine manufacturers
  : Benefit from new power generation capacity demand

• Policy risks
  : Electricity price regulation, changes in environmental protection policies
• Technical risks
  : Development of new energy technologies changes supply-demand patterns

• Short-term
  : Focus on major suppliers in regions with tight power supply and demand
• Mid-to-long term
  : Layout smart grid and energy storage technology companies

:

• NVIDIA’s leading position
  : Market capitalization of $4.29 trillion, data center business accounts for 88.3%, analyst target price of $250 (+41.9% from current) [0]
• Domestic substitution opportunities
  : Cambricon plans to triple AI chip output in 2026, targeting delivery of 500,000 AI accelerators [2]
• Technological breakthroughs
  : Domestic 7nm “N+2” process supports high-end chip production

:

• Open model strategy
  : NVIDIA launched the Nemotron 3 series of open models to promote the development of AI Agent applications [1]
• Hardware architecture innovation
  : Research new GPU data flow execution architectures to improve energy efficiency ratio [1]

• Competition risks
  : Intensified international competition, technical blockade risks
• Technical risks
  : Uncertainty in process technology breakthroughs
• Valuation risks
  : High valuations are highly sensitive to performance

• Core position
  : Global AI chip leader NVIDIA
• Satellite position
  : Domestic chip leading enterprises, gambling on policy dividends
• Hedge strategy
  : Semiconductor ETFs to diversify risks

:

• REITs model
  : Provides stable dividend income, current EQIX and DLR valuations are relatively reasonable [0]
• Specialization trend
  : Growing demand for AI-specific data centers
• Edge computing
  : AI applications extending to the edge end催生 new demand

• Interest rate sensitivity
  : REITs are highly sensitive to interest rate changes
• Intensified competition
  : High market concentration, price war risks
• Technological disruption
  : New technologies may reduce demand for traditional data centers

• Stable allocation
  : Leading REITs dividend income
• Growth allocation
  : Edge computing and specialized operators
• Geographic diversification
  : Avoid over-concentration in a single region

: Tech stock valuations are generally high, market sentiment volatility intensifies
: Diversify investments in defensive industries, increase cash positions

: U.S.-China tech competition, trade barriers increase
: Geographic diversification, focus on domestic substitution opportunities

: Interest rate hike cycle suppresses growth stock valuations
: Prioritize companies with stable cash flow

• NVDA (20%)
  : Absolute leader in AI chips
• VST (15%)
  : Benefit from growing power demand
• EQIX (15%)
  : Stable cash flow data center REIT
• Domestic chip enterprises (10%)
  : Policy dividend gambling

• PLTR (15%)
  : High growth of AI software platform
• Semiconductor equipment manufacturers (10%)
  : Benefit from process upgrades
• New energy power (5%)
  : Green transformation trend

• Defensive industry ETFs (5%)
  : Stable allocation
• Gold ETF (3%)
  : Safe-haven attribute
• Cash and cash equivalents (2%)
  : Flexible adjustment

• Wait and see
  : Focus on layout opportunities after market adjustments
• Batch building positions
  : Use volatility to buy core targets in batches
• Strict risk control
  : Avoid chasing highs, control positions

• Balanced allocation
  : Balanced layout of the three industrial chains
• Regular adjustment
  : Dynamically adjust allocation according to performance
• Trend tracking
  : Focus on technological breakthroughs and commercialization progress

• Core holdings
  : Long-term holdings of leading enterprises
• Theme investment
  : Seize AI commercialization opportunities
• Global vision
  : Focus on global AI industry development trends

[0] Jinling AI Data - Real-time stock quotes, market indices, sector performance data
[1] Bloomberg - “Samsung nears deal to supply over 30% of Nvidia’s HBM4 memory in 2026” (https://www.digitimes.com/news/a20251216PD218/hbm4-samsung-nvidia-2026-sk-hynix.html)
[2] Bloomberg - “Cambricon Aims to Triple Output to Replace Nvidia in China” (https://www.bloomberg.com/news/articles/2025-12-04/cambricon-aims-to-triple-chip-output-to-replace-nvidia-in-china)
[2] WSJ - “Witnessing China’s Another Ace in the AI Race in Inner Mongolia: The World’s Largest Power Grid” (https://cn.wsj.com/articles/在内蒙古目睹中国竞逐ai赛道的另一张王牌-全球最大电网-3ca6eb72)
[1] Yahoo Finance - “Gas Turbine Concept Heats Up, Harbin Electric Is Worth Watching” (https://hk.finance.yahoo.com/news/燃氣輪機概念熾熱-可吼哈爾濱電氣-061826854.html)
[2] Yahoo Finance - “Teneo: AI Is the Most Watched Investment Focus, China Remains a Key Market for Global Corporate Strategies” (https://hk.finance.yahoo.com/news/teneo-ai是最受關注的投資焦點-中國仍是全球企業策略的重點市場-030406161.html)