Smart money is laying out the upstream AI sector in advance, and some basic materials have become new favorites.

The transmission chain of AI computing power investment has extended to the upstream materials end. MLCC has become the third largest cost item in the bill of materials for AI servers, following only GPU and storage. Electronic fabrics are transitioning from traditional insulating substrates to functional materials. Data shows that as of June 4th, the MLCC index and the glass fiber index have both risen by over 100% so far this year, with some upstream material stocks seeing gains of over 200%. In this wave of material price hikes driven by AI, a group of mutual fund managers are investing upward along the industry chain, positioning themselves early in the electronic fabric and MLCC concept sectors.