Market Sentiment - The CNN Money Fear and Greed index showed a slight decline in overall market sentiment, remaining in the "Neutral" zone with a reading of 52.4, down from 52.8 [6] - U.S. stocks settled mixed, with the Dow Jones index falling more than 250 points during the session, closing lower by around 285 points to 49,098.71 [4] Stock Performance - Goldman Sachs shares fell around 4% on Friday, while Nvidia Corp. and Advanced Micro Devices Inc. saw gains of 1.5% and 2.4%, respectively [2] - Intel Corp. shares dipped around 17% after issuing a weak first-quarter outlook [2] - The S&P 500 rose 0.03% to 6,915.61, and the Nasdaq Composite gained 0.28% at 23,501.24 during Friday's session [4] Economic Data - The University of Michigan's consumer sentiment index rose to 56.4 in January from a preliminary reading of 54.0 and December's reading of 52.9 [3] - The S&P Global composite PMI rose to 52.8 in January from 52.7 in the previous month [3] Sector Performance - Most sectors on the S&P 500 closed positively, with materials, consumer discretionary, and consumer staples stocks recording the biggest gains [4] - Financial and industrials stocks bucked the overall market trend, closing lower [4] Upcoming Earnings - Investors are awaiting earnings results from Steel Dynamics Inc., Nucor Corp., and Sanmina Corp. [5]

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the “Neutral” zone on Friday.U.S. stocks settled mixed on Friday, with the Dow Jones index falling more than 250 points during the session. Stocks also recorded losses last week, with the 30-stock Dow losing 0.5% and the S&P 500 falling about 0.4%.Shares of Goldman Sachs (NYSE:GS) fell around 4% on Friday, while Nvidia Corp. (NASDAQ:NVDA) and Advanced Micro Devices Inc. (NASDAQ:AMD) settle ...

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 近期，英特尔与 AMD 等国际芯片巨头相继释放明确信号，计划在 2026 年第一季度将服务 器 CPU 价格上调 10%-15% 。 KeyBanc 等权威机构的报告更是揭示了一个严峻现实：两 家公司 2026 年全年的服务器 CPU 产能已基本预售罄，供需两侧的极端失衡已成定局。 业内观点指出，这一轮始于两大巨头的涨价潮，绝非孤立事件，而是 AI 算力需求结构性裂 变、全球供应链深度重构背景下的必然产物。其涟漪效应正迅速跨越太平洋，深刻影响着中 国庞大的服务器与算力市场，国产 CPU 或将在用户市场迎来新一轮价值重估。 半导体风向之变： Intel 与 AMD 联袂涨价是何因？ 从 GPU 的炙手可热到存储芯片的全球缺货， AI 产业势能掀动的半导体市场浪潮，终于席卷 到 CPU 一端。业界普遍认为，此次英特尔与 AMD 的同步调价，既是多重市场动力共振的结 果，也代表着需求本质的深刻变革与供应链的刚性约束。 根据 TrendForce 最新公布的研究报告，北美云端服务供应商（ CSP ）持续加强对 AI 基础 设施投资力度，预估将带动 2026 年全球 ...

特朗普的关税牌，又一次说翻就翻。 1月14日，白宫宣布对特定半导体及设备加征25%进口关税，并于次日立即生效。没有缓冲期，甚至利用时差封堵市场反应时间。与以往不同，此次行动 未沿用"国家安全"等惯用说辞，显得意图微妙。 更耐人寻味的是，这一刀看似挥向中国，最先失血的，却是美国科技巨头——成本剧增、供应链吃紧，英伟达、AMD等企业股价应声下跌。"这简直是朝 我们自己人开枪"，一位美国半导体公司高管直言不讳。 这场没有口号掩护的关税战，仓促得连借口都来不及编，却已让自家阵营阵脚先乱。 美国此次出手，核心仍是推动"制造业回流"。 美国消费了全球近四分之一的半导体，本土产能却仅能满足约10%，高度依赖亚洲供应链。通过抬高关税，增加芯片进口成本，倒逼企业把工厂搬回美 国。这个心思，华盛顿早就有了，去年8月甚至传出风声，说要征收100%的关税。 局面看似复杂，其实就三方在角力：华盛顿算政治账，美国企业算经济账，而中国厂商则在谋长远账。 华盛顿将税率定在25%，数字很"巧妙"：定100%会让金融市场剧烈反对，定10%又起不到逼企业搬家效果。25%正好——既安抚了华尔街，又能实质性地 增加企业海外生产成本。像台积电、三星已经 ...

1.【星河动力总工李君：液体回收火箭智神星二号预计今年首飞】1月25日消息，在2026北京国际商 业航天论坛上，星河动力总工程师李君透露，星河动力液体回收火箭智神星二号预计在2026年首 飞，智神星二号运载火箭为直径4.5m的大型模块化可重复使用液体运载火箭，包括基本型和CBC两 种构型：基本型起飞质量约757t，起飞推力约910t，LEO运载能力20t；CBC构型起飞质量约 1950t，起飞推力约2730t，LEO运载能力58t。（ 科创板日报） 2.【三星电子将于2月向英伟达供应HBM4芯片】1月26日消息，据报道，三星电子近期通过最终质量 测试后，将于2月正式向英伟达、AMD供应HBM4芯片。三星已开始为2月出货做准备。（界面新 闻） 3.【全球首条机器人关节自动化产线启动，浦东按下人形机器人量产"加速键"】1月25日消息，据浦 东发布消息，近日，意优科技"全球首条机器人关节自动化产线"在浦东投产。这是具身智能产业从技 术研发迈向规模化制造的关键跨越，标志着人形机器人核心部件量产瓶颈的突破，为人形机器人的大 规模推广应用按下"加速键"。这条全球首创的自动化产线，围绕关节模组全制造流程进行系统化设 计，深 ...

Group 1 - China Aluminum International (02068) saw a mid-day increase of over 2.4% after announcing a joint venture to undertake a new electrolytic aluminum project with an annual capacity of 394,000 tons, with the first phase set at 294,000 tons [1] - CGN Mining (01164) rose over 8.3% following the submission of a preliminary prospectus for a trust that plans to issue up to $2 billion in transferable, non-redeemable trust shares over 25 months, with annual uranium procurement not exceeding 9 million pounds [1] - China Shengmu Organic Milk (01432) increased nearly 6% after a joint announcement regarding a potential conditional cash offer to acquire all issued shares of the company [1] Group 2 - Yijun Group Holdings (02442) surged over 18%, with a cumulative increase of nearly 500% since its resumption of trading in December, following the sale of shares by its controlling shareholder [2] - China Rare Earth Holdings (03788) rose over 10%, reaching a historical high of 5.49 HKD, after announcing the termination of its gold spin-off plan to focus on gold business [2] - Laopuqin Gold (06181) increased over 7.3% as consumer demand is expected to rise during the upcoming Spring Festival, driven by higher gold prices and anticipated price increases [2] Group 3 - Oil stocks continued to rise, with CNOOC (02883) up 4.19%, Sinopec (00386) up 2.54%, and PetroChina (00857) up 3.68%, amid escalating geopolitical tensions in Iran and Cuba [3] - Changfei Optical Fiber (06869) saw a rise of over 15.4% due to significant price increases and supply tightness in the G.652.D optical fiber market, with major manufacturers unable to meet their own orders [3] Group 4 - Nanshan Aluminum International (02610) increased over 2.6% after announcing plans to start construction on a 250,000-ton electrolytic aluminum project in 2026, with an investment of $437 million [4] - Xindong Company (02400) saw a slight increase of 0.43% as its mobile game "Xindong Town" surpassed 10 million downloads, indicating strong user growth [4] Group 5 - EquipmentShare.com (EQPT.US) debuted on the US stock market with an IPO price of $24.5, closing up 32.9% on its first day [5] - The solar energy sector saw initial gains, with JinkoSolar (JKS.US) up 9.03% and Canadian Solar (CSIQ.US) up 4.57%, following discussions at the Davos Forum [5] - Silver-related stocks experienced gains, with First Majestic Silver (AG.US) rising 5.04% as spot silver prices surpassed $100 [5] Group 6 - Lithium mining stocks mostly rose, with Sigma Lithium (SGML.US) up 17.54% after announcing additional sales of high-purity lithium powder [6] - Bank stocks declined, with Goldman Sachs (GS.US) down 3.75% amid legal issues involving President Trump and JPMorgan [6] - Redwire (RDW.US) increased by 4.51% following comments from Elon Musk about SpaceX's plans for reusable rocket technology [6] Group 7 - Semiconductor stocks showed strength, with AMD (AMD.US) up 2.35% and Nvidia (NVDA.US) up 1.53%, as Nvidia's CEO visited China to discuss future plans [7] - Ericsson (ERIC.US) rose 8.87% after reporting strong fourth-quarter earnings, with adjusted EBITA reaching 12.7 billion SEK, a 24% increase year-over-year [8] - Intel (INTC.US) fell 17.03% due to disappointing performance outlooks and manufacturing issues [8]

包括说这个，就是海外的这个 AMD，包括英特尔，然后这一块其实都会有一个这个就是 比较大的这个需求的一个拉动。然后同时第二个方面，就是我们认为可能也是有比较大弹 性的，就是由于这个包括 GPU，包括 GPU 的这个涨价，包括 CPU 和存储的一个涨价， 带动的云的一个涨价。也就是说整个，就包括说像这个阿里云、腾讯云，甚至包括说像小 云。优刻得这些所带来的这个，就是利润率，包括说利润的一个修复，包括说就是对前置 投资的这样一个，就是回报。 然后第三块我们就是觉得这个 CPU 的相关供应链，尤其是比如说它的这个就是载板，然 后由于这个扩产需要一定的这个周期，那么整体上这一块的一个涨价幅度有可能也会有一 个超预期的一个状态。最后包括说这个下游通用服务器这一块相关的这个服务器制造厂商 像浪潮信息，然后包括华勤，也会有相应的一个弹性。接下来就是整个汇报，就会有会先 由可夫来汇报一下这个，就是 agent 包括说就是整个可能说产业变化的一个情况。然后最 后我再来讲一下，就是相关，就比如说整个 agent 是怎么去把 CPU 的这个配比给提升上 去，然后到底是说提升的是 CPU 的数量，还是这个数量具体体现在。 包括说这个 ...

21 January 2026 U.S. Semiconductors Intel, AMD: Here's something to take your mind off of Greenland...Q425 preview Stacy A. Rasgon, Ph.D. +1 213 559 5917 stacy.rasgon@bernsteinsg.com +1 917 344 8454 alrick.shaw@bernsteinsg.com Arpad von Nemes +1 917 344 8461 arpad.vonnemes@bernsteinsg.com Intel reports Q425 results on Thursday, January 22nd (call at 5:00pm ET; register here). AMD reports Q425 results on Tuesday, February 3rd (conference call at 5:00pm ET; dial-in 1-877-407-8037 or 201-689-8037, passcode 137 ...

Core Viewpoint - Samsung Electronics is nearing certification from Nvidia for its AI memory chip HBM4, aiming to close the competitive gap with SK Hynix [1][2]. Group 1: Samsung's Progress - Samsung has entered the final qualification phase with Nvidia after supplying initial samples in September [2]. - The company is preparing for mass production of HBM4 in February, with shipments expected to commence soon [3]. - Samsung's shares increased by up to 3.2% in Seoul, while SK Hynix's stock experienced a similar decline [3]. Group 2: Market Context - Samsung, SK Hynix, and Micron Technology are leading in AI memory, with all three companies seeing significant stock surges due to a memory shortage in the electronics industry [4]. - The combined market value of these three memory chip manufacturers has increased by approximately $900 billion since early September [4]. Group 3: Future Prospects - Investor optimism is growing that Samsung may supply components for Nvidia's upcoming flagship Rubin processors, which have primarily relied on SK Hynix for advanced memory chips [5]. - Samsung is expected to begin HBM4 shipments to Nvidia and Advanced Micro Devices in the coming month [6].

沙箱隔离可控制AI Agent的潜在风险，带来CPU增量需求空间 智通财经APP获悉，财通证券发布研报称，随着AI Agent的持续发展，AI Agent沙箱技术有望逐渐配套 使用，沙箱隔离可控制AI Agent的潜在风险，带来CPU增量需求空间，而随着AI Agent持续沙箱化， CPU厂商及相关产业链有望迎来新的增长点。 财通证券主要观点如下： 海内外逐渐部署AI Agent沙箱化 海外：2025年12月，Meta以超过20亿美元收购Manus，Manus是一家以AI Agent与沙箱化架构为核心的 创新公司，有望加速沙箱化技术的推广和应用；国内：阿里云等主流云平台发布和迭代以AI Agent Sandbox为核心的AI Agent Infra产品体系，Agent沙箱化部署有望逐步落地。 AI Agent中的行动模块可以将大脑模块输出的抽象指令，转化为与外部世界交互的具体操作，而AI Agent的能力边界很大程度上取决于行动模块所能调用的工具的丰富度和可靠性，其中函数调用便是实 现工具使用的核心技术，它允许LLM在生成文本的同时，输出一个结构化的JSON对象，AI Agent的应 用程序代码会解析这个JS ...