Company Performance - Advanced Micro Devices (AMD) shares fell 17% after the company forecasted disappointing quarterly revenue and indicated challenges in competing with Nvidia [1] - Nvidia's stock dropped 3.4%, contributing to a 4.4% decline in the PHLX semiconductor index [1] - Palantir's shares slumped nearly 12%, reversing gains from the previous day due to strong quarterly sales [1] - Super Micro Computer's shares surged 13.8% after raising its annual revenue forecast driven by sustained demand for AI-optimized servers [6] - Eli Lilly's shares rallied about 10% after forecasting 2026 profit above Wall Street expectations, helping to limit losses in the S&P 500 [7] Market Trends - The S&P 500 declined 0.51% to 6,882.72 points, while the Nasdaq fell 1.51% to 22,904.58 points; however, the Dow Jones Industrial Average rose 0.53% to 49,501.30 points [4] - The S&P 500 value index gained for a fifth consecutive session, contrasting with a drop in the S&P 500 growth index [4] - Heavy trading volume was noted with 24.6 billion shares exchanged, compared to an average of 19.9 billion shares [4] Industry Insights - Concerns are rising regarding the impact of rapidly advancing AI on legacy software companies, with some portfolio managers expressing a bearish outlook on the software sector [2][3] - The market is experiencing skepticism about stock valuations amid unprecedented infrastructure buildout and AI adoption rates [2] - The ADP national employment report indicated that U.S. private payrolls increased less than expected, with job losses in professional services and manufacturing sectors [8]

2026年2月5日，AMD掌门苏姿丰就公司股价波动公开发声，重申AI芯片需求依旧强劲。 市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：观察君 此前，AMD因业绩指引缺乏亮点，周三收跌17.31%，创2017年5月以来最大单日跌幅，部分市场人士认 为公司给出的业绩指引偏弱。 苏姿丰表示："我从公司内部的角度告诉你，人工智能正在以我无法想象的速度加速发展。"她同时透 露，AMD的数据中心业务从第四季度到第一季度明显提速，随着企业为AI企业级应用迅速地加大算力 投入，AMD的中央处理器（CPU）的需求正在"爆发式增长"。 当前全球AI算力需求持续攀升，行业基建投资热度不减。谷歌近期宣布，2026年资本支出指引达1750 亿美元至1850亿美元，较2025年翻倍，进一步凸显AI赛道的投入力度。受AI需求拉动，服务器CPU市 场供应趋紧，英特尔与AMD均计划于2026年上调相关产品售价10至15个百分点，反映出市场需求的强 劲态势。 ...

Core Viewpoint - Concerns in the software industry are rapidly evolving into a broader sell-off in the technology sector, with market panic spreading from the SaaS segment to semiconductors and AI infrastructure, significantly increasing pressure on tech stocks [2] Group 1: Market Reactions - The Nasdaq Composite Index experienced a decline, marking its first consecutive two-day drop of 1% since April of the previous year, primarily triggered by shaken investor confidence in the software industry's outlook [2] - Following the release of disappointing earnings, AMD's stock plummeted by 17%, marking its worst single-day performance since 2017 [8] - Palantir's stock fell by 12%, and SanDisk's stock dropped by 16%, with the sell-off also affecting major AI companies like Meta and Nvidia, which saw declines of 6.6% and 8.9% respectively [10] Group 2: Investor Sentiment and Valuation - There is growing concern that AI's impact on existing software business models may exceed expectations, leading to skepticism about whether tech giants can deliver on profit promises under high valuations [5] - High valuations have made the market extremely sensitive to any negative signals, prompting a rapid rotation of funds from tech stocks to traditional sectors [8][17] - The average price of loans for software companies has dropped from 94.71 cents at the end of last year to 91.27 cents, with approximately $25 billion in software loans classified as non-performing, representing nearly one-third of all bad loans [11] Group 3: AI Disruption and Overreaction - The market volatility reflects a reassessment by investors of companies facing potential disruption from AI, with analysts noting that the software industry is in a state of "pre-judgment" regarding AI risks [13] - Some industry executives and strategists argue that the sell-off may be overblown, with Nvidia's CEO stating that the pressure on software stocks is based on an illogical narrative that AI will replace them [14][15] - Baird's Antonelli suggests that enterprises are unlikely to abandon established enterprise software for untested alternatives, indicating that the market often reacts hastily to expensive stocks [16] Group 4: Fund Rotation Trends - Despite the turmoil in tech stocks, the market is not experiencing a broad retreat but rather a clear trend of fund rotation, with investors moving capital from chip stocks and large tech winners to more traditional sectors [17] - On a day when the S&P 500 index fell by 0.5%, 92 stocks reached new 52-week highs, the highest number of new highs in a single day since November 2024 [19] - This trading behavior is seen as a continuation of a trend, with recent news providing a catalyst for accelerating this shift [20]

Group 1: Alphabet's Financial Performance - Alphabet's fourth-quarter earnings and revenue exceeded Wall Street expectations, with its cloud unit achieving a nearly 48% increase in revenue year-over-year [1] - The company anticipates capital expenditure for 2026 to be between $175 billion and $185 billion, which would more than double from the previous year at the higher end [2] Group 2: Market Sentiment and Related Stocks - The sentiment around AI stocks has been negatively impacted, with Advanced Micro Devices shares dropping 17.3% due to a disappointing first-quarter forecast, affecting other AI-related companies like Broadcom and Oracle [3] - The tech-heavy Nasdaq Composite index fell by 1.51%, while the S&P 500 retreated by 0.51%, marking its fifth negative session in six [3] Group 3: Oil Market Developments - Oil prices decreased by approximately 1% following reports of upcoming talks between the U.S. and Iran in Oman [4] - Venezuela reassured China that its oil pricing will not be influenced by the U.S., while Russia stated that India has not indicated a halt in oil purchases from Moscow [5]

公众号记得加星标⭐️，第一时间看推送不会错过。 虽然在过去几年经历了从热捧到遇冷，但进入最近半年，英伟达挑战者们正在疯狂融资，今天就有两 个巨头拿到了不少钱。例如，芯片初创公司 Cerebras Systems Inc.在完成11 亿美元的融资轮四个月 后又在今天宣布，已从许多相同的投资者那里筹集了额外的 10 亿美元。 Tiger Global领投了Cerebras的H轮融资。其他投资者包括AMD、Fidelity Management、Atreides Management、Alpha Wave Global、Altimeter、Coatue、1789 Capital等。Cerebras目前的估值为 230亿美元。 此 次 融 资 发 生 在 几 周 前 ， 据 报 道 ， 该 公 司 签 署 了 一 项 价 值 超 过 100 亿 美 元 的 协 议 ， 将 向 OpenAI Group PBC供应人工智能硬件。Cerebras生产的WSE-3人工智能芯片包含4万亿个晶体管，是英伟达 Blackwell B200显卡晶体管数量的19倍。该处理器约一半的表面积用于容纳44GB的SRAM内存。 Cerebr ...

美股三大指数周三收盘涨跌不一，道指涨0.53%，纳指跌1.51%，标普500指数跌0.51%，热门科技股普 遍下跌，AMD跌超17%，英伟达、特斯拉、博通、Meta跌超3%。半导体设备与材料、存储概念股、加 密矿企跌幅居前，闪迪跌近16%，美光科技跌超9%。减肥药概念股、住宅地产涨幅居前，礼来涨超 10%，安进涨超8%。纳斯达克中国金龙指数收跌1.95%，热门中概股普跌，哔哩哔哩跌超6%，百度跌 超4%，阿里巴巴。蔚来、小鹏汽车跌超2%，理想汽车、霸王茶姬涨超1%。 0:00 ...

Market Overview - The U.S. stock market closed mixed on February 4, with the Dow Jones rising by 0.53% to 49,501.3 points, the S&P 500 falling by 0.51% to 6,882.72 points, and the Nasdaq dropping by 1.51% to 22,904.58 points [4] Technology Sector Performance - Major technology stocks experienced declines, with the Nasdaq 100 index falling by 1.32%. Notable individual stock movements included Tesla down nearly 4%, Facebook and Nvidia down over 3%, Amazon down more than 2%, while Apple rose over 2% and Microsoft increased by 0.72% [6] Semiconductor Industry - The semiconductor sector showed weakness, with the Philadelphia Semiconductor Index declining by 4.36%. AMD saw a significant drop of over 17%, marking its largest single-day decline since May 2017 [7][9] AMD Financial Results - AMD's latest quarterly report indicated a record revenue exceeding $10 billion in Q4, maintaining a year-over-year growth rate of over 30%. However, the guidance for Q1 fell short of expectations, leading to a sharp decline in its stock price [9] AI and Storage Stocks - Following AMD's poor guidance, AI application stocks such as AppLovin and Palantir dropped over 10%. The storage sector also faced declines, with major players like SanDisk down 15.95% and Micron Technology down 9.55% [9] Chinese Stocks - Chinese stocks listed in the U.S. generally fell, with the Nasdaq Golden Dragon China Index down 1.95%. Individual stocks like Kingsoft Cloud and Bilibili saw declines of over 6% [9] Solar Energy Sector - The solar energy sector surged, driven by news of SpaceX's team exploring the Chinese photovoltaic supply chain. Companies like Enphase Energy and SolarEdge saw significant gains of 38.60% and 13.14%, respectively [11] Space Solar Power - The space solar power sector is emerging as a market hotspot, integrating commercial space and renewable energy. Analysts suggest that the sector is on the verge of large-scale deployment, driven by new demands for space-based energy solutions [14] Employment Data - The latest ADP report indicated that U.S. private sector employment increased by only 22,000 jobs in January, significantly below the expected 46,000. This suggests a cooling labor market, particularly in manufacturing and professional services [16]

记者丨曾静娇 编辑丨江佩霞 消息面上， 美股半导体深夜重挫，AMD跌超17%，闪迪跌近16%，黄金白银反弹，美国恢复 美伊谈判 。 软件股的全球抛售也波及中概股，纳斯达克中国金龙指数周三收跌1.95%。 （声明：文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。） 出品丨21财经客户端 21世纪经济报道 美股半导体深夜重挫，AMD跌超17%，闪迪跌近16%，黄金白银反弹，美国恢复美伊谈判 黄金直线上升重回5000美元，加密货币下挫超14万人爆仓 SFC 21君荐读 2月5日，跟随隔夜美股跌势，日韩股市低开，科技电子股集体大跌。 截至北京时间8:20左右，日经225指数跌约0.4%， 科技股和电子股的下跌抵消了汽车股和制药 股的涨幅。软银集团跌超4%，此前其子公司Arm Holdings股价隔夜下跌。日本电气下跌近 5%，爱德万测试下跌4%。韩国KOSPI指数跌近2%。芯片巨头SK海力士跌4.89%，三星电子跌 超3.6%，对指数拖累最大。 ...

Core Viewpoint - Concerns in the software industry are rapidly evolving into a broader sell-off in the technology sector, with significant pressure on tech stocks as market panic spreads from the SaaS sector to semiconductors and AI infrastructure [1] Group 1: Market Reactions - The Nasdaq Composite Index experienced a decline, marking its first consecutive two-day drop of 1% since April of the previous year, driven by shaken investor confidence in the software industry's outlook [1] - Following the release of disappointing earnings, AMD's stock plummeted by 17%, marking its worst single-day performance since 2017 [4] - Palantir's stock fell by 12%, and SanDisk's stock dropped by 16%, with major AI companies like Meta and Nvidia also experiencing declines of 6.6% and 8.9%, respectively [7] Group 2: Valuation Concerns - High valuations are exacerbating market reactions, with current expectations being extremely high, leading to severe market responses [10] - The average price of loans for software companies has decreased from 94.71 cents at the end of last year to 91.27 cents, indicating a shift in investor sentiment [10] - Approximately $25 billion in software loans are classified as non-performing, representing nearly one-third of all bad loans [10] Group 3: AI Disruption and Overreaction - The market volatility reflects a reassessment of companies facing potential disruption from AI technologies, with the software industry perceived as having the highest risk exposure [11] - Some industry executives and strategists argue that the sell-off may be overblown, suggesting that fears of AI replacing software companies are unfounded [12] Group 4: Capital Rotation - Despite the turmoil in tech stocks, the market is not experiencing a broad retreat but rather a clear trend of capital rotation from chip stocks and large tech winners to more traditional sectors [13] - On the same day the S&P 500 index fell by 0.5%, 92 stocks reached 52-week highs, the highest number of new highs since November 2024 [13]

Market Overview - U.S. stocks ended lower, with notable declines in technology companies such as Advanced Micro Devices and Palantir, as investors expressed concerns over high valuations and the sustainability of the AI rally [1][2] - The S&P 500 declined by 0.51% to 6,882.72 points, while the Nasdaq fell by 1.51% to 22,904.58 points, contrasting with a 0.53% rise in the Dow Jones Industrial Average to 49,501.30 points [4] Company Performance - Advanced Micro Devices saw a significant drop of 17% after forecasting disappointing quarterly revenue, indicating challenges in competing with Nvidia [2] - Palantir's shares fell nearly 12%, reversing previous gains attributed to strong quarterly sales [2] - Super Micro Computer's shares surged by 13.8% following an increase in its annual revenue forecast due to sustained demand for AI-optimized servers [5] - Eli Lilly's shares rose about 10% after the company projected 2026 profits exceeding Wall Street expectations [5] Sector Performance - The S&P 500 value index gained for the fifth consecutive session, while the growth index declined, indicating a shift in investor sentiment towards less expensive companies [4] - Seven of the 11 S&P 500 sector indexes rose, with energy leading at a 2.25% increase, followed by a 1.8% gain in materials [4] Employment Data - The ADP national employment report indicated that U.S. private payrolls increased less than expected in January, with job losses in the professional and business services and manufacturing sectors [6]