Company and Industry Insights - Nvidia and AMD are expected to generate significant attention at CES, with Nvidia's CEO Jensen Huang likely to discuss the company's AI strategy, focusing on datacenters, physical AI, and robotics, along with updates on the Cosmos foundation model and autonomous technology for 2026 [3][4] - AMD's CEO Lisa Su will deliver the opening keynote at CES, where she is anticipated to announce major updates to the Ryzen CPU line and showcase developments in AI PCs, gaming, datacenters, and automotive computing [5] - Versant Media Group is set to begin trading following its spinoff from Comcast, positioning itself as a hybrid cable-digital media company with a focus on expanding beyond traditional media [7][8] - The U.S. government plans to invest in Venezuela's oil infrastructure, which has the world's largest proven crude reserves of over 303 billion barrels, indicating potential opportunities for U.S. oil majors [9]

Company and Industry Insights - Nvidia and AMD are expected to generate significant attention at CES, with Nvidia's CEO Jensen Huang likely to discuss the company's AI strategy, focusing on datacenters, physical AI, and robotics, along with updates on the Cosmos foundation model platform and autonomous technology for 2026 [3][4] - AMD's CEO Lisa Su will deliver the opening keynote at CES, where she is anticipated to announce major updates to the Ryzen CPU line and showcase developments in AI PCs, gaming, datacenters, and automotive computing [5] - Versant Media Group is set to begin trading following its spinoff from Comcast, positioning itself as a hybrid cable-digital media company with a focus on expanding beyond traditional media [7][8] - The U.S. government plans to invest in Venezuela's oil infrastructure, which has the world's largest proven crude reserves of over 303 billion barrels, indicating potential opportunities for U.S. oil majors [9]

Group 1: Keynote Insights at CES - Nvidia CEO Jensen Huang and AMD CEO Lisa Su will deliver keynote speeches at CES, which could significantly influence sentiment in the AI infrastructure sector heading into 2026 [1][2] - Huang's presentation will be closely watched for announcements regarding next-generation AI accelerators and data center roadmaps, as well as customer demand sustainability [1] - AMD's Lisa Su is under pressure to showcase the adoption of the MI300 series and competitive positioning against Nvidia in data center GPUs, with potential wins from cloud service providers enhancing AMD's credibility [1] Group 2: Economic Data and Market Sentiment - The week features a comprehensive economic data calendar culminating in the December jobs report, which will provide insights into labor market conditions and influence Federal Reserve policy expectations [2][3] - Key economic indicators such as ISM Manufacturing and Non-Manufacturing PMIs will offer insights into industrial and services sector health, impacting market sentiment and potential sector rotation [4][6] - The absence of major earnings reports allows economic data and CES announcements to dominate market focus, testing whether the market can maintain momentum from any year-end rally [2][6] Group 3: Inflation and Federal Reserve Policy - The week's economic data will provide multiple perspectives on inflation, with ISM prices components and wage growth data being crucial for assessing inflationary pressures [7] - The Federal Reserve's December meeting highlighted the need for sustained evidence of disinflation before committing to further policy easing, making this week's inflation signals particularly significant [7] - Any evidence of reaccelerating price pressures could impact rate-sensitive sectors and support the dollar, while benign inflation readings may provide relief for risk assets [7]

Group 1 - The article provides a market analysis focusing on major indices such as Nasdaq 100 and S&P 500, along with specific ETFs like SPDR® S&P 500® ETF Trust and Invesco QQQ Trust [1] Group 2 - The analysis includes insights on market trends and performance metrics relevant to the mentioned indices and ETFs [1]

Investment Rating - The report suggests a focus on AI consumer applications, embodied intelligence, autonomous driving, and XR technologies, indicating a positive outlook for companies in these sectors [6][24]. Core Insights - The CES 2026 event is highlighted as a key opportunity to observe advancements in AI, particularly in consumer applications such as AI PCs and embodied intelligence [6][24]. - Significant developments in chip technology are anticipated, with AMD, Intel, and Qualcomm expected to unveil new products that enhance processing capabilities [2][11]. - The report emphasizes the evolution of video models into general visual foundation models, showcasing the capabilities of Google DeepMind's Veo 3 [5][14]. - DeepSeek's mHC architecture aims to address the stability issues in training large models, which could lead to more reliable AI applications [18][19]. Summary by Sections CES 2026 Preview - Focus on new chip products from leading companies: AMD's Ryzen 7 9850X3D and Intel's Panther Lake chips, which promise a 50% performance increase [2][11]. - Emphasis on advancements in autonomous driving technologies, with companies like Sony Honda Mobility and BMW showcasing new models and AI systems [3][12]. Technology Industry Dynamics - Google DeepMind's research indicates that video models are evolving into versatile visual models capable of zero-shot learning, enhancing their applicability across various tasks [5][14]. - DeepSeek's mHC architecture is designed to improve the training stability of large models while maintaining high expressiveness, potentially paving the way for larger-scale model training [18][19]. Weekly Insights - The report recommends focusing on companies that can effectively implement AI technologies in real-world scenarios, particularly in hardware and platforms that support multimodal reasoning [6][24]. - Suggested companies for investment include NVIDIA, Tesla, LITE, AVGO, and Google, which are positioned to benefit from advancements in AI and computing infrastructure [6][24].

Market Overview - U.S. stock market showed mixed performance with the Dow Jones and S&P 500 indices rising while the Nasdaq fell slightly by 0.03% [1] - The Nasdaq China Golden Dragon Index experienced a strong start, increasing by 4.38% and accumulating a weekly rise of 2.23% [3] Company Performance - Tesla reported a 16% year-over-year decline in fourth-quarter delivery volumes, falling short of analyst expectations, marking its seventh consecutive day of stock price decline [3] - Notable tech stocks exhibited varied performance; Micron Technology surged over 10%, ASML rose nearly 9%, and AMD increased by over 4% [4] - Chinese concept stocks saw significant gains, with Baidu rising by 15%, Bilibili and NetEase increasing by over 7%, Alibaba up by 6%, and JD.com nearly 3% [6] Stock Movements - The Hang Seng Index rose over 2.7% and the Hang Seng Tech Index increased by 4% following the New Year holiday [7] - Specific stock performances included: - Baidu Group: $150.30, up 15.03% - Youdao: $11.23, up 11.41% - Xiaoma Zhixing: $16.07, up 10.83% [7] Commodity Market - COMEX gold futures rose by 0.02% to $4341.90 per ounce, while silver futures increased by 2.35% to $72.27 per ounce, despite both commodities experiencing weekly declines of 4.63% and 6.39% respectively [7] Interest Rate Outlook - Market attention remains focused on potential interest rate cuts by the Federal Reserve in 2026, with expectations of four rate reductions to bring rates down to neutral levels [8]

根据泄露的PCB设计文件，5070 Super采用GB205核心，将12GB显存升级至18GB，成为首款在中端卡 中突破16GB容量限制的产品。其CUDA核心数量也从6144小幅增加4%至6400个，不过显存位宽保持 192-bit不变。更令人意外的是5070 Ti Super的曝光，这款定位次旗舰的产品通过全系3GB颗粒实现24GB 显存，核心数维持8960个不变却将功耗提升16%至350W。 除消费级硬件领域的新动态外，英伟达极有可能在企业级核心平台进展方面释放重要信息。这其中，或 许会涵盖其下一代核心算力平台，以及备受瞩目的Vera Rubin芯片。不过，该芯片也有可能需要等到 2026年3月举办的GTC2026大会上，才会迎来全面且深入的重磅解读。 当全球科技圈的目光聚焦拉斯维加斯，半导体行业的"奇点时刻"，正随着CES 2026的倒计时加速逼近。 这场盛会之上，AI 正在悄然催生一场产业风暴。 01 AI芯片，"神仙打架" AI的爆发式增长，最终要落到算力支撑上。本届CES，全球半导体巨头正集体亮剑。 英伟达GeForce RTX 50 Super系列 CES2026期间，英伟达CEO黄仁勋将通过多 ...

Core Insights - The report highlights a significant shift in AI inference economics, where the focus has moved from raw chip performance to the intelligence output per dollar spent [1][4][46] - NVIDIA continues to dominate the market, with its GB200 NVL72 outperforming AMD's MI350X by a factor of 28 in throughput [1][5][18] AI Inference Economics - The key metric for evaluating AI infrastructure has transitioned to "how much intelligence can be obtained for each dollar" [4][6][46] - In high-interaction scenarios, the cost per token for DeepSeek R1 can be reduced to 1/15th of other solutions [2][20] Model Architecture - The report discusses the evolution from dense models to mixture of experts (MoE) models, which activate only the most relevant parameters for each token, improving efficiency [9][11][46] - MoE models are becoming the standard for top open-source large language models (LLMs), with 12 out of the top 16 models utilizing this architecture [11][14] Performance Comparison - In terms of performance, the GB200 NVL72 shows a significant advantage over AMD's MI355X, achieving up to 28 times the performance in certain scenarios [18][24][30] - The report indicates that as interaction rates increase, the performance gap between NVIDIA and AMD platforms widens, with NVIDIA's solutions becoming increasingly efficient [30][37] Cost Efficiency - Despite the higher hourly cost of the GB200 NVL72, its advanced architecture and software capabilities lead to a lower cost per token, making it more economical in the long run [20][41][45] - The analysis shows that the GB200 NVL72 can achieve a performance per dollar advantage of approximately 12 times compared to its competitors [42][44] Future Trends - The future of AI models is expected to lean towards larger and more complex MoE architectures, with platform-level design becoming a critical factor for success [46][47] - Companies like OpenAI, Meta, and Anthropic are likely to continue evolving their flagship models in the direction of MoE and inference, maintaining NVIDIA's competitive edge [46]

Group 1 - The CES 2026 will take place from January 6 to January 9, focusing on AI as it transitions into practical applications, marking the year as the beginning of AI technology integration and industrialization [2][9] - A total of 4,112 companies will participate in CES 2026, with major players like AMD, Lenovo, Hisense, and TCL showcasing innovations across various sectors, including chips, hardware, and vertical applications [2][3] - The event will highlight the integration of AI in various industries, including automotive and supply chains, demonstrating deep connections and applications across the entire industry chain [2][6] Group 2 - NVIDIA's CEO Jensen Huang will not deliver a keynote this year but will participate in discussions about AI's impact on consumer electronics and infrastructure [3][7] - AMD is expected to unveil its next-generation mobile processor, the Ryzen AI 400 series, featuring 12 Zen 5 cores and enhanced NPU capabilities [6][4] - Siemens' CEO will present advancements in industrial AI, showcasing how AI, digital twins, and automation are transforming manufacturing and infrastructure [6][9] Group 3 - The home appliance sector will see significant AI integration, with major companies like Hisense and TCL leading the charge in redefining the future of home electronics [10][11] - Hisense will introduce the world's first display technology upgraded to a "four-core architecture," along with a humanoid robot capable of multi-language interaction [10][11] - The cleaning appliance market, particularly robotic vacuums, is dominated by Chinese brands, while iRobot faces bankruptcy, highlighting a shift in market leadership [13][19] Group 4 - The CES 2026 will feature a strong presence of embodied intelligence products, with over 50% of exhibitors being Chinese companies, showcasing advancements in humanoid robots and smart assistants [20][22] - New AI-native devices, including AI glasses and AI headphones, will be introduced, indicating a shift towards AI as the next generation of consumer electronics [24][26] - The event will also host discussions on the future of technology, including topics like AI's role in industrial transformation and the commercialization of embodied intelligence [30][28]

Core Viewpoint - The article highlights significant upcoming economic data releases and events that could impact investment opportunities, particularly focusing on the U.S. and China markets, as well as key technology developments at the CES event. Economic Data and Events - China is expected to release its December CPI and PPI data on January 9, with CPI growth projected to remain at 0.7% year-on-year and PPI decline narrowing to -1.9% from -2.2% [7] - The U.S. will release its December non-farm payroll report on January 9, with expectations of an increase of approximately 55,000 jobs and an unemployment rate holding steady at 4.6% [9] - The CES event will take place from January 4 to 9, featuring major tech leaders like NVIDIA's CEO Jensen Huang and AMD's CEO Lisa Su, who will present on advancements in AI hardware [10][11] IPOs and Market Activity - Several companies are set to launch IPOs in Hong Kong, including: - Zhipu AI, with a pricing of HKD 116.20 per share, expected to start trading on January 8 [15] - MiniMax, with a pricing range of HKD 151-165 per share, expected to start trading on January 9 [17] - Precision Medical, seeking to raise HKD 1.2 billion, expected to start trading on January 8 [18] - TianShu Intelligent Chip, aiming to raise HKD 3.68 billion, expected to start trading on January 8 [19] - GigaDevice Semiconductor, with a pricing range of HKD 162 per share, expected to be priced on January 9 [20] Geopolitical Events - South Korean President Lee Jae-myung is visiting China from January 4 to 7 to strengthen economic cooperation [21] - Venezuelan President Maduro may appear in a U.S. court on January 5, which could have implications for geopolitical stability and market reactions [12] - Ukrainian President Zelensky announced a meeting with U.S. officials on January 6 to finalize security agreements [13] Commodity Market Insights - The Bloomberg Commodity Index (BCOM) will undergo annual weight rebalancing from January 8 to 14, with warnings of potential technical sell-offs in gold and silver due to their overrepresentation in the index [14]