Core Viewpoint - Oracle is transforming from a traditional database company to a core player in the AI infrastructure wave, with explosive growth prospects driven by significant demand for AI computing power from giants like OpenAI [1][2]. Financial Performance - In the recently released Q1 financial report, Oracle boldly predicts its revenue will double in the next three years, positioning itself as the "new Nvidia" in the eyes of investors [2]. - The company's remaining performance obligations (RPO) surged over twofold in three months, reaching $455 billion, with expectations to exceed $500 billion soon due to ongoing negotiations for additional multi-billion dollar contracts [2]. - Oracle anticipates its cloud infrastructure revenue will hit $114 billion by fiscal year 2029, a significant increase from just over $10 billion as of May this year [2]. Stock Market Reaction - Following this news, Oracle's stock price has risen 45% year-to-date and surged 35% on a single day, nearly doubling its price within the year, with a market capitalization approaching $950 billion [3]. Competitive Landscape - Despite the optimistic outlook, making long-term predictions in a rapidly changing technology landscape like AI may not be wise, as competitors like Microsoft, Google, and Amazon do not separately report AI-related revenues [6]. - Oracle's unique position is attributed to its leadership under Chairman Larry Ellison, who is known for his boldness in the tech industry [6][7]. Revenue Conversion Challenges - The key challenge for Oracle lies in converting its RPO into actual revenue, which depends on the company's ability to build the necessary infrastructure to fulfill these contracts, including power, permits, and critical equipment like Nvidia GPUs [10]. - Analysts believe Oracle possesses significant advantages, including top-notch technical expertise, ample funding, and deep support from Nvidia, enabling it to capitalize on the growing demand in AI training and inference [11]. AI Market Dynamics - Oracle's growth is closely tied to the AI inference segment, which is expected to see a substantial increase as the focus shifts from training better models to deploying them to millions of new users [12][13]. - The company's ambitious targets come with challenges, as its forward P/E ratio is around 48, and its future is tightly linked to the sustainability of AI demand, unlike diversified competitors like Microsoft [13].

周二晚间， 一名联邦法官批准了对美联储理事Lisa Cook的临时禁令，暂时阻止了特朗普总统将其解职的企图 。这一裁决是Cook本人乃至整个央行独立性的 一次重大法律胜利，它为Cook出席下周的会议并参与投票扫清了道路。 紧接着在周三上午，焦点转移至参议院银行委员会。共和党人火速推进了特朗普提名的顾问Stephen Miran的任命确认程序，试图填补美联储理事会的另一个 空缺席位。此举为本周参议院全院表决创造了可能， 一旦通过，Miran或将得以加入同一场议息会议。 在今年夏季一系列疲软的就业数据公布后，市场普遍预期美联储将在下周的会议上降息25个基点。 Timiraos表示，Cook一贯在政策上与主席鲍威尔保持一致，而Miran是否会投票支持更大幅度的降息尚不明朗。 这场关于与会资格的争夺将决定会议出席情况，它的重要性不仅在于它影响当下的投票结果，更在于与会官员将提交新的季度经济预测，而这份预测将塑造市 场对美联储未来政策路径的预期。 一场围绕美联储控制权的政治角力正趋于白热化，下周的FOMC会议不仅关系到利率决策，更是一场围绕美联储独立性展开的激烈博弈。 有"新美联储通讯社"之称的华尔街日报记者Nick ...

Core Viewpoint - The article discusses the emerging competition in the "panoramic drone" market, particularly between DJI and Insta360, highlighting the technological advancements and market strategies of both companies as they prepare to launch their first products in this new category [1][4][12]. Group 1: Product Development and Features - DJI is reportedly set to launch its first panoramic drone, which is in the final stages before release, indicating a strong market entry [1]. - The new DJI drone is expected to feature the same lens as the recently released Osmo360 camera, along with a rotatable gimbal and a 1-inch image CMOS sensor, showcasing DJI's technical capabilities in panoramic imaging [3]. - The anticipated drone will utilize DJI's mature O4 transmission technology, supporting a transmission distance of up to 13 kilometers, low latency of 24 milliseconds, and 1080p/100fps HD quality, enhancing the user experience [3]. Group 2: Competitive Landscape - The next six months will see direct competition between DJI and Insta360 in the panoramic drone market, with both companies expected to launch their products around the same time [4]. - DJI has a significant advantage due to its established global leadership in the drone industry and its extensive technological reserves, positioning it as a key player in defining industry standards for this new category [4][5]. - Insta360, having entered the drone market recently, faces challenges in competing against DJI's comprehensive ecosystem and technological depth [8][10]. Group 3: Market Dynamics and Financials - Insta360 announced its entry into the drone industry on July 23, followed by DJI's launch of the Osmo360 camera, which directly impacted Insta360's pricing strategy [6]. - As of August 14, Insta360 began public testing of its panoramic drone, indicating a proactive approach to market entry, although DJI had already laid the groundwork for its product [7]. - DJI's Osmo360 camera has reportedly sold over 20,000 units within a month of its launch, generating sales exceeding 60 million yuan, demonstrating its strong market presence [9]. Group 4: Technological Barriers and Challenges - The competition between DJI and Insta360 is fundamentally about penetrating each other's core markets, with a focus on the depth of technological barriers and system collaboration capabilities [9][11]. - DJI's extensive experience in drone technology, including flight control systems and safety mechanisms, presents a significant challenge for Insta360 as it attempts to establish itself in this high-barrier industry [10][11]. - The article emphasizes that overcoming these technological challenges will require substantial time, investment, and expertise from Insta360 to compete effectively with DJI [11]. Group 5: Future Outlook - Both companies are expected to launch their first panoramic drone products within the next six months, which will be critical in determining market leadership [13]. - The disparity in company size and R&D investment is notable, with DJI's projected revenue for 2024 exceeding 80 billion yuan, compared to Insta360's 5.574 billion yuan, which may influence pricing and market strategies [13]. - The article concludes that the winner in the panoramic drone market will likely be the company that can effectively integrate imaging and flight technology to deliver a seamless user experience [12][14].

当地时间10日，甲骨文美股盘初涨幅一度扩大至42%，盘中市值达到9500亿美元，超越摩根大通、沃尔玛、礼来和Visa，成为标普500指数中第10大市值 公司，直追巴菲特旗下伯克希尔哈撒韦。 由于股价大涨，根据彭博亿万富豪指数，上午10时10分，甲骨文创始人兼董事长埃里森（Larry Ellison） 身家飙升至3930亿美元，一度超越马斯克(3850 亿美元)，成为全球首富。 在当天大部分时间里，埃里森的身家位居榜首，不过到当天稍晚，随着甲骨文股价回落到收涨35.91%， 埃里森的身家小幅降至3832亿美元，又回落至第 二位。 马斯克的净资产小幅回升，以约10亿美元的优势重新登顶。 | Rank | Name | Total net worth | $ Last change | $ YTD change | | --- | --- | --- | --- | --- | | | | ▶ | | | | 1 | Elon Musk | $384B | +$573M | -$48.2B | | 2 | Larry Ellison | $383B | +$88.5B | +$191B | | 3 | Mark Z ...

Core Viewpoint - OpenAI's massive capital expenditures are reshaping Silicon Valley, driving tech giants like Oracle, Broadcom, and Google towards significant growth opportunities through substantial contracts [1][6]. Group 1: Oracle's Major Order - Oracle's stock surged over 27% after announcing a significant cloud infrastructure contract with OpenAI, leading to a remarkable increase in its remaining performance obligations (RPO) to $455 billion, a 359% year-over-year increase [2][8]. - The contract involves providing OpenAI with 4.5 gigawatts of data center capacity, valued at approximately $30 billion annually, as part of the "Stargate" AI infrastructure initiative [9]. - Oracle's CEO raised the capital expenditure forecast for the fiscal year to $35 billion, anticipating a 77% growth in its cloud infrastructure business [9]. Group 2: Broadcom's Custom AI Chips - Broadcom revealed it secured a $10 billion custom AI chip order from a "mysterious client," later confirmed to be OpenAI, which is expected to significantly boost its AI revenue outlook [4][11]. - OpenAI's collaboration with Broadcom aims to design and produce proprietary AI chips to alleviate its dependency on Nvidia and meet its extensive computational needs [11][12]. Group 3: Google's Involvement - Google Cloud has entered a partnership with OpenAI to provide computational support for AI model training, breaking Microsoft's previous exclusive supply arrangement [14]. - Google Cloud's current unfulfilled contract commitments amount to $106 billion, with expectations of at least $58 billion converting to actual revenue in the next two years [13][14]. Group 4: OpenAI's Financial Strategy - OpenAI's projected cash burn could reach $115 billion by 2029, significantly higher than previous estimates, primarily for building infrastructure and training AI models [16][18]. - Despite the high expenditure, OpenAI's valuation has surged to $500 billion, nearly double from six months ago, driven by strong growth in ChatGPT and optimistic revenue forecasts [17][18]. Group 5: Financial Innovations in AI Competition - The intense competition for AI infrastructure has led tech companies to explore complex financial solutions, such as joint ventures and syndicated loans, to manage costs without compromising balance sheet health [19][20]. - Companies like Meta and Oracle are utilizing innovative financing methods to fund their AI infrastructure projects while managing associated risks [20].

去年营收近2700亿 作者王小娟 编辑周智宇 对63岁的奇瑞董事长尹同跃而言，当港交所聆讯通过的消息传来，那座他带领奇瑞攀登了二十年的资本山峰，终于云开雾散，露出了峰顶。 二十一年前的那个冬天，同样是踌躇满志的上市计划，却最终折戟。二十一年间，中国汽车工业的牌桌上，旧王退位，新贵崛起，城头变幻大王旗。而奇瑞， 这家起于安徽"小草房"的自主品牌"老大哥"，似乎总在"陪跑"。 如今，奇瑞不再甘心陪跑。一份年营收近2700亿、净利润超140亿的成绩单，以及连续22年中国品牌乘用车出口第一的桂冠，终于为尹同跃叩开了资本市场的 大门。 这看上去是一个"优等生"水到渠成的加冕时刻，但招股书的字里行间却透露出另一重叙事：高企的负债率，远低于行业均值的新能源渗透率，以及尚在亏损与 微利间挣扎的电动车业务。 这才是奇瑞奔赴港交所的真正注脚：辉煌的燃油车时代正在落幕，而电动化与智能化的新战场上，奇瑞虽已入局，却仍是追赶者。面对比亚迪的铁蹄、新势力 的围剿，以及吉利、长安的贴身肉搏，技术、渠道、品牌的每一寸阵地都需要真金白银的投入。 因此，这场迟到了20年的IPO，与其说是庆功的香槟，不如说是下一场血战的"弹药"。它能否治愈奇瑞的 ...

北京时间9月10日凌晨1点，苹果今年最重磅的新品发布会拉开序幕， 主题为"前方超燃"(Awe Dropping)。 一图看懂苹果发布会 iPhone 17 热锻铝金属一体成型机身 A19 Pro 第三代 3 纳米芯片 采用蒸发冷却技术 造就巅峰实力 银色 星宇橙色 深蓝色 4 A19 PRC 8 倍光学品质变焦 全新"珠光"摄影风格 Center Stage 前摄 自拍合照更智能 □□﹞ 电池续航大大突破 iOS 26 全新 Liquid Glass 设计 超坚固耐用 前后均由 超瓷晶面板守护 iPhone Air 迄今最薄 iPhone, 身藏高能内核。 RMB 333/月起或 RMB 7999 起1 9 月 12 日晚 8 点接受预购 9 月 19 日发售 iPhone Air 迄今最薄 iPhone A19 Pro 钛金属边框 A19 第三代 3 纳米芯片 前后均由 超瓷晶面板守护 蓝图购用 Center Stage 前摄 4800 万像素 iOS 26 融合式摄像头系统 自拍合照更智能 実激 Liquid Glass 设计 二摄一体超先进 6.5 英寸超视网膜 XDR 屏² 全天电池续航4 1 Pro ...

美国截至3月的一年间就业增长远不如此前报告所示，这加大了美联储降息的压力。 根据美国政府周二公布的初步基准修订数据，截至3月的一年间的非农就业人数下修91.1万，相当于每月平均少增加近7.6万。按1.71亿劳动力总数计算，本次 修订约占0.6%。这是自2000年以来的最大下修幅度。 市场对本次数据下修的预期为68.2万。在本次数据公布前，多位经济学家表示，截至今年3月的一年里，美国就业人数可能会被大幅下修近80万。美国财长贝 森特也预警年度就业可能下修多达80万。然而，最终的下修幅度比市场普遍预期的还要糟糕。 分行业来看，几乎所有行业的就业人数均被下调。下修幅度最大的行业包括：休闲和酒店业–17.6万，专业和商业服务业–15.8万，零售贸易–12.62万，制造业 的就业人数也显著下调。只有交通运输与仓储以及公用事业小幅上调。几乎所有修订都集中在私营部门；政府部门的就业数据则下修了3.1万。 在该报告发布之前，美国政府的数据显示，截至3月的一年间，雇主在未经过季节性调整的情况下共新增近180万个就业岗位，平均每月增加14.9万个。 本次非农年度修正报告涵盖的大部分时间段在特朗普就任美国总统之前，表明该国就业形势 ...

英伟达CEO黄仁勋表示，Rubin CPX是首款专为百万级token处理而构建的CUDA GPU。他说： "正如RTX革命性地改变了图形和物理AI，Rubin CPX是首款专为大规模上下文AI而构建的CUDA GPU，模型可以同时进行数百万个知识token的推理。" 美东时间9月9日周二，英伟达发布新一代Rubin CPX芯片系统，专门针对AI视频生成和软件开发等大规模上下文处理任务，强化AI编码和视频处理能力。 Rubin CPX定于2026年底上市，采用卡片形式，可集成到现有服务器设计中或作为独立计算设备在数据中心运行。 这款芯片系统在技术规格上实现重大突破。Rubin CPX GPU提供30千万亿次浮点（petaflops）运算能力（NVFP4精度），配备128GB GDDR7内存，支持视 频解码和编码的硬件，相比英伟达GB300 NVL72系统，注意力加速3倍。 完整的Vera Rubin NVL144 CPX平台在单个机架中集成144个Rubin CPX GPU、144个Rubin GPU和36个Vera CPU，提供8 exaflops AI性能，性能为英伟达 GB300 NVL72系统的7.5倍 ...

寒武纪（688256）9月9日晚间公告，公司近日收到中国证监会出具的《关于同意中科寒武纪科技股份有 限公司向特定对象发行股票注册的批复》（简称《批复》）。 《批复》同意公司向特定对象发行股票的注册申请，有效期为12个月。公司将按照相关法律法规和批复 文件的要求，在规定期限内办理本次向特定对象发行股票的相关事项，并及时履行信息披露义务。 记者梳理公告发现，寒武纪5月1日曾披露定增预案，拟向特定对象发行A股股票募资不超过49.8亿元，用 于面向大模型的芯片平台项目、面向大模型的软件平台项目、补充流动资金。 | 序号 | 项目名称 | 拟投资总额 | 拟用募集资金投资金额 | | --- | --- | --- | --- | | | 面向大模型的芯片平台项目 | 290,000.00 | 290,000.00 | | 2 | 面向大模型的软件平台项目 | 160,000.00 | 160,000.00 | | 3 | 补充流动资金 | 48,000.00 | 48,000.00 | | | 合计 | 498,000.00 | 498,000.00 | 寒武纪8月28日发布股价异动公告称，公司关注到近期市场上存在部 ...