Meta’s AI agent Muse tops US charts, sparking Chinese software ETF surge and inflows
On September 22, Chinese software ETFs surged, with the Software ETF (159899) index rising up to 2.38% and seeing net inflows of over 55 million yuan (72 million units). The rally was attributed to Meta’s AI personal agent app Muse, launched September 8, which surpassed ChatGPT with 2.8 million downloads and 642,000 daily active users in the US. Analysts cited in the articles view this as validating AI agent adoption and shifting the narrative from AI replacing software to software becoming core AI infrastructure. Chinese software leaders reported growing AI-related revenue.
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Software Stocks Surge on AI Agent Hype; Analysts See Next Main Battlefield in AI Office
Chinese software stocks surged on Tuesday, with stocks like Yanhua Smart and Weaver Network hitting daily limits, following Meta's launch of its AI agent Muse which topped the US iOS free app chart. Analysts cited by the article argue the market is re-evaluating the implications of 'agent普及' (agent普及), shifting the AI narrative from model capability competition to Agent commercialization, which could lead to a revaluation of the software sector. The article notes falling inference costs from models like DeepSeek V4.1 Flash and Zhipu GLM5.3 Flash, improving the economics of Agent deployment. Frost & Sullivan data forecasts China's AI software market to grow at a 31.7% CAGR from 2026 to 2030, reaching 162.2 billion yuan. Main capital has been net buying multiple software stocks since September, led by Huasheng Tiancheng. Zheshang Securities identifies three bullish factors for AI office: a supply-side inflection point with falling model costs, validated demand with high enterprise AI usage and willingness to pay, and a large market space, with global AI Agent market projected to grow from $11.55 billion in 2026 to $294.66 billion by 2035.
Read sourceSoftware ETF Shares Double in 2024 as AI Agent Adoption Fuels Sector Rally
On September 22, the software sector rallied, with the China Securities Software Index rising 1.98% and the Software ETF (159899) seeing net inflows exceeding 55 million yuan. The ETF's share count has expanded 104.74% year-to-date. The surge is attributed to Meta's AI personal agent app Muse, which surpassed ChatGPT in downloads and daily active users within two weeks of launch, signaling accelerated AI agent adoption among consumers. Analysts cited in the article argue that AI agents and software are symbiotic, with software serving as the execution carrier and data entry point for AI. Domestically, Chinese software leaders like Kingsoft Office (WPS 365 revenue up 60.84% YoY), Yonyou Network (AI contracts worth 906 million yuan), and Sangfor Technologies (cloud and AI infrastructure revenue up 58.6% YoY) are reporting substantial AI-related revenue. The article concludes that capital is flowing into the software sector on confidence in AI application commercialization.
Read sourceSoftware ETF Sees Over 55 Million Yuan Inflow as Meta's Muse AI App Surpasses ChatGPT
On September 22, the software sector strengthened with volume. As of 11:07, the software ETF (159899) benchmark index rose 1.98%, aiming for a third consecutive gain. Constituent stocks including Hehe Information, Sangfor Technologies, Yonyou Network, Kingsoft Office, Dameng Data, and ZTEsoft led the gains. According to Wind data, the ETF saw an estimated net inflow of over 55 million yuan during the session, and its fund share has expanded 104.74% year-to-date. The article attributes the surge to Meta's AI personal agent app Muse, which surpassed ChatGPT in downloads and daily active users within two weeks of launch, with 2.8 million downloads and 642,000 DAU in the US. Domestically, Kingsoft Office's WPS365 revenue grew 60.84% year-on-year, Yonyou Network signed AI-related contracts worth 906 million yuan, and Sangfor's cloud and AI infrastructure revenue rose 58.6%. Analysts cited in the article argue that Muse's explosive growth marks the acceleration of AI agent adoption among ordinary consumers, validating the commercialization path from conversational to actionable AI. They note that software and agents are symbiotic, with agents requiring software as an execution carrier and data entry point. The article concludes that capital is rapidly flowing into the software sector, reflecting market confidence in accelerating AI application commercialization.
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Meta's AI Agent Muse Sparks Software ETF Surge; Fund Sees 72 Million Units Inflow
On September 22, the Chinese software sector rallied, with the Software ETF (159899) seeing an estimated net inflow of 72 million units, pushing its year-to-date share count up 104.74%. Analysts attribute the surge to the explosive growth of Meta's new AI personal agent application, Muse. Launched on September 8, Muse has surpassed ChatGPT's early performance, reaching 2.8 million installs in 12 days and a peak daily active user count of 642,000. Unlike chatbots, Muse acts as a digital assistant that can autonomously execute tasks like filling forms and organizing emails. The article argues this validates that AI agents require software as an execution carrier and data entry point, shifting the narrative from software being replaced by AI to becoming core AI infrastructure. It also highlights growing AI-related revenue contributions from Chinese software leaders like Kingsoft Office (WPS 365 revenue up 60.84% YoY) and Yonyou Network (AI contracts worth 906 million yuan), supporting market confidence in AI commercialization.
Read sourceMeta's Muse AI Agent Sparks Global Rally in Software Stocks, ETF Sees Surge in Subscriptions
On September 22, technology and growth stocks broadly rose in China, with the underlying index of the Software ETF (159899) gaining 2.38% and heading for a third consecutive daily increase. Major holdings including深信服, 金山办公, 科大讯飞, 同花顺, 拓维信息, and 三六零 all advanced. Wind Level 2 real-time data showed the ETF received over 40 million units in intraday subscriptions. Industry analysts attributed the rally primarily to Meta's launch of its personal AI agent, Muse, in early September, which surpassed ChatGPT to top the US iOS free app chart. The market is reassessing the implications of widespread AI agent adoption, viewing software as the key beneficiary—covering task orchestration engines, application gateways, development toolchains, and security gateways. This represents a shift in global AI narrative from 'training compute' to 'agent applications,' repricing software sector elasticity. Domestic catalysts include the 2026 Yunqi Conference (September 22-24) themed 'Wisdom for Application,' and policy targets such as the Ministry of Industry and Information Technology's goal of 100 benchmark AI agent software projects. CITIC Securities forecasts that infrastructure software and information security will benefit first, with AI revenue improvements for application software expected in CY2026 Q4 to CY2027 Q1.
Read sourceAI Agent Narrative Shift Boosts Software ETF Elasticity, Analyst Says
On September 22, the software services index rose 2.34% by 10:34 AM, driven by gains in stocks including Sangfor Technologies (up over 6%), Kingsoft Office (up over 3%), and others. Multiple industry developments were reported: Hangzhou Jiefeng Software filed a patent for IoT device scheduling; Intel launched PISA, a virtual instruction set architecture for its GPUs; Fuzhou hosted a service industry digital transformation event; Beijing's software association received an IP service award; Dongtu Technology reported a 1.18% revenue increase in its industrial OS and software services business for the first half of 2026; Hefei launched an AI-powered enterprise service platform; and Shanghai's SaaS innovation community opened. Analysts noted that Meta's launch of the personal AI agent Muse, which topped the U.S. iOS free app chart, is driving a market reassessment of agent普及 (proliferation). They argue that as the global AI narrative shifts from 'training compute' to 'agent applications,' the software sector's elasticity will be repriced. The article promotes the Software ETF E Fund (562930), which tracks the CSI Software Services Index.
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