Chemical industry surges, computing power explodes! Cambrian, transaction volume exceeds 12 billion yuan

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This morning, the A-share market saw divergence, and the Sci-Tech Innovation Board Index strengthened. At the morning close, the Shanghai Composite Index rose 0.03%, the Shenzhen Component Index fell 0.2%, the ChiNext Index fell 0.46%, and the Sci-Tech Innovation Board Index rose 0.74%.

Chemical stocks had the strongest performance this morning, with sectors such as glyphosate, chemical fibers, and acrylic acid surging higher.

On the news front, Xinhua News Agency reported that, in the early hours of the 7th, Iran’s Fars News Agency cited unnamed sources saying that an explosion occurred that day at the Jubail Industrial Zone in Japan’s northeast Saudi Arabia, involving U.S. capital, and that it was the result of a widespread strike. The Jubail Industrial Zone is one of the world’s important petrochemical production bases, with an annual output of about 60 million tons of petrochemical products, accounting for 6% to 8% of global total output. The zone is home to multiple large petrochemical enterprises and projects.

Technology stocks showed active performance, with the semiconductor industry chain strengthening. Sectors including memory chips and domestic computing power rose, and the two major wafer foundry leaders—SMIC and Hua Hong—both rose. The Apple industry chain drove strength in the consumer electronics sector.

Specifically, within the memory chip sector, leading stocks such as Demingli, Unisplendour Memory, and Jiangbolong rose.

Local time on April 7, Samsung Electronics released its unaudited first-quarter 2026 performance guidance. According to a report from CNI Securities Overseas Information, Samsung Electronics’ preliminary operating profit in the first quarter reached 57.2 trillion won (about $37.9 billion), setting a historical record high and far exceeding analysts’ average expectation of 39.3 trillion won. Revenue climbed to 133 trillion won, also above the average forecast of 116.8 trillion won. The company will release its complete financial report later this month, including net profit and detailed data for each business segment.

At present, analysts remain optimistic about Samsung Electronics, basically ignoring AI-optimization concerns possibly brought by products such as Google’s TurboQuant or Anthropic’s Claude Mythos. Citigroup expects Samsung’s full-year 2026 operating profit to reach 310 trillion won (about $2.06 billion), and believes that strong AI inference demand will continue to support prices.

Within the domestic computing power concept, Cambricon rose 10.93% this morning, with trading volume of 12.06 billion yuan; Coretronic, Hygon Information, Moore Threads, and other individual stocks also rose.

The domestic computing power concept strengthened this morning, mainly catalyzed by two factors, both domestically and internationally.

On the overseas market side, according to CNI Securities Overseas Information, Anthropic said it will cooperate with Broadcom (Broadcom) and Google (Google) to support its rapidly growing business. Anthropic said that this year, market demand for its Claude service has accelerated, with more than 1,000 enterprise customers already spending over $1 million each year; this figure has more than doubled since February. Broadcom is developing chips based on Google’s Tensor Processing Units (TPUS) as an alternative to Nvidia’s technology. According to Broadcom’s latest submitted filings, Broadcom and Google have reached a long-term agreement to supply these chips, and a supply assurance agreement with a validity period until 2031 has been signed.

On the other hand, the market’s high expectations for DeepSeek’s new-generation large language model V4 have boosted sentiment for domestic AI chip investment.

From the development trend of the domestic computing power industry, demand-side performance is strong. Recently, at an earnings briefing, Zhipu CEO Zhang Peng said that in Q1 2026, Zhipu’s API call pricing increased by 83%. Even so, the market still shows a situation of insufficient supply relative to demand, with call volume increasing by 400%. At present, Zhipu has become one of the domestic companies with the highest paid Token consumption.

Previously, according to People’s Daily, at the beginning of 2024, China’s daily Token call volume was 100 billion; by the end of 2025, it rose to 100 trillion; in March this year, it exceeded 140 trillion—more than a thousand-fold increase over two years.

Analysts say that the exponential growth in Token call volume indicates that data elements are achieving a closed loop from supply to value through a monetizable model. Competition in large models is shifting from a battle of capabilities to a battle of usage. AI Infra (artificial intelligence infrastructure), as the core link supporting the expansion of call scale, means that underlying support systems such as computing power, networks, and data scheduling must expand in parallel—possibly even ahead of schedule—so the industry will fully benefit from the continued rise in Token demand.

（The stock chart images in the article are from Tonghuashun and Wind）

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