Core Insights - The year 2025 is anticipated to be a pivotal year for robotics, particularly for leading AI companies as they enhance their AI hardware and software product matrices, with nearly all enterprises investing in humanoid robot technology development [1] Group 1: AI Company Developments - Major tech companies are developing comprehensive AI hardware and software ecosystems, indicating a shift towards robotics and AI integration in both industrial and domestic settings [3] - Companies like Google, Microsoft, Amazon, and OpenAI are making significant strides in AI technology stacks, aiming to increase revenue and reduce costs through better control over AI training servers [3][4] - Meta has expanded its lead in AI devices but lags in AI model development, while xAI has made progress in LLM quality and consumer AI applications [6][12] Group 2: Competitive Landscape - The competition among major AI companies is intensifying, with a complex network of alliances forming as companies seek to reduce dependency on key suppliers like Nvidia and Microsoft [4][19] - Google remains a dominant player, significantly enhancing its capabilities in AI server chips, evidenced by a $20 billion deal with Anthropic for tensor processing units [10] - OpenAI is expanding its cloud partnerships beyond Microsoft, with Amazon signing a $38 billion server deal and plans for collaboration on e-commerce projects [21] Group 3: Emerging Technologies - Companies are focusing on humanoid robots and wearable AI devices, with Amazon making substantial investments in augmented reality glasses [7][14] - Tesla is leading in humanoid robotics with its Optimus robot, despite facing challenges with its functionality [15] - The development of AI applications and devices is expected to continue evolving, with OpenAI planning to launch various wearable AI products by 2026 [14]

来源：中国能源网 投资建议 本周科技行情走强，海外大厂AI布局加速落地，前期AI景气度担忧情绪有所缓解，存储、晶圆厂等均 存在涨价行情。受益标的：中芯国际、北京君正、华丰科技、北方华创、中微公司、德明利、香农芯 创、兆易创新等。 行业速递：存储涨价持续，终端新品催化不断，算力布局持续深化 终端：华为nova15重磅发布，视涯科技成功过会。12月21日，三星电子正式公布业内首款2纳米工艺智 能手机应用处理器Exynos2600，采用了基于Arm v9.3架构的新10核CPU设计，三星宣称其性能提升了高 达39%。12月22日，华为全场景新品发布会正式发布了华为nova15系列，其中华为nova15Pro搭载麒麟 9010S处理器，配备正反红枫影像系统，支持鸿蒙智慧通信。12月24日，视涯科技IPO过会。 算力：大厂算力合作持续加强，Groq和英伟达签订非独家推理技术许可协议。美国密歇根州监管机构 正式批准了甲骨文与Open AI合作建设的大型数据中心项目，装机容量为1.4GW。据路透社报道，英伟 达计划于2026年2月中旬开始向中国发货H200芯片。字节已初步计划在2026年投入1600亿元的资本⽀ 出。Gro ...

"我们在美国和英国的无人机送货项目仍在积极推进，测试飞行和商业送货已证明是成功的，并受到了 客户的好评，"该发言人补充道。 在此次举措之前，亚马逊曾于 6 月份与意大利民航局(ENAC)进行了积极会谈。双方当时就亚马逊在圣 萨尔沃(San Salvo)地区的无人机送货项目进展进行了讨论。 智通财经APP获悉，亚马逊(AMZN.US)周日表示，在经过战略评估后，公司已暂停在意大利开展商业无 人机送货服务的计划。 一位亚马逊发言人在邮件声明中表示，"尽管与意大利航空监管机构的沟通积极且取得了进展，但该国 更广泛的商业监管框架目前并不支持该计划的长期目标。" ...

智通财经APP获悉，现货白银今年暴涨超185%，一跃成为全球第三大最有价值资产，仅次于黄金和英伟达(NVDA.US)，并将苹果(AAPL.US)、谷歌 (GOOGL.US)与微软(MSFT.US)等科技巨头甩在身后。 现货白银上周五盘中创下历史新高，达每盎司79.29美元，最终收于79.11美元;周一早盘延续强势上涨态势，首次突破80美元/盎司关口，年内累计涨幅已超 过185%。其飙升行情由供应受限、被美国列为关键矿产、工业需求稳健，以及市场对美联储降息的预期与低流动性所放大的波动共同推升的贵金属普涨所 驱动。 以下是一些专注于白银和白银矿业的交易所交易基金：白银EFT-iShares(SLV.US)、Abrdn Sliver ETF Trust(SIVR.US)、 2倍做多白银ETF- ProShares(AGQ.US)、Proshares二倍做空白银ETF(ZSL.US)、Sprott Physical Silver Trust(PSLV.US)、Global X白银矿业ETF(SIL.US)、PureFunds ISE初级小市值 银矿开采ETF(SILJ.US)和安硕MSCI环球银矿ETF(SLVP.U ...

扬子晚报网12月29日讯(记者范晓林)今天是周一，上周五胜通能源（001331）11连板，嘉美包装 （002969）11天9板，神剑股份（002361）7连板，安通控股（600179）5连板，九鼎新材（002201）4连 板，锋龙股份（002931）、鲁信创投（600783）、五洲特纸（605007）、中国卫星（600118）、上海港 湾（605598）、隆基机械（002363）、再升科技（603601）、大业股份（603278）、厦门国贸 （600755）3连板，海南发展（002163）6天5板。沪指微涨0.1%录得8连阳，沪深两市成交额2.16万亿， 较上一个交易日放量2357亿。盘面上，市场热点快速轮动，全市场超3400只个股下跌。板块方面，海 南、锂、贵金属板块活跃。在短暂修整后，全球金属期货"狂飙"模式再度开启，COMEX黄金、白银、 铜期货全线创出历史新高，沪铜主力合约一度创出99730元/吨的历史高点。有色板块表现强势，其中铜 矿、电解铝方向表现亮眼，江西铜业（600362）涨停，创2008年1月以来新高，紫金矿业（601899）、 洛阳钼业（603993）、云铝股份（000807）均创历史新高 ...

Core Insights - Gotham Asset Management's latest 13F filing reveals a strategic shift towards broad market exposure, particularly in mega-cap technology and liquidity management, rather than focusing on individual stock selection [1][2] Portfolio Adjustments - Significant increase in SPDR S&P 500 ETF (SPY) by 1,262,794 shares, now totaling 5,618,281 shares, representing a $3.74 billion position, which is 16.29% of the portfolio, indicating a deliberate increase in market exposure [3][4] - NVIDIA (NVDA) position increased by 591,589 shares to 2,863,109 shares, valued at $534.2 million (2.33%), reflecting participation in AI-driven earnings growth in semiconductors [5][6] - Apple Inc. (AAPL) saw an increase of 538,746 shares to 1,428,976 shares, valued at $363.9 million (1.58%), with a 60% rise quarter over quarter, indicating strong signals from valuation and quality models [7] - Snowflake (SNOW) position increased by 388,608 shares to 956,539 shares, valued at $215.7 million (0.94%), with a notable 68% increase quarter over quarter, suggesting favorable screening on forward earnings metrics [8] - iShares 0–3 Month Treasury Bond ETF (SGOV) exposure doubled with an increase of 803,355 shares to 1,552,170 shares, valued at $156.3 million (0.68%), reflecting active liquidity management [9] - Amazon.com (AMZN) position increased by 260,509 shares to 978,948 shares, valued at $214.9 million (0.94%), with a 36% rise quarter over quarter, reinforcing exposure to mega-cap platforms with improving cash flow [10][11] Strategic Overview - The quarter was characterized by a beta-heavy approach, with a significant increase in S&P 500 exposure, suggesting limited advantage in deviating from the index at current valuations [12] - The scaling of mega-cap technology stocks (NVDA, AAPL, AMZN, SNOW) indicates broad-based signals rather than isolated stock convictions [13] - Active risk management is evident from the increase in short-term Treasuries, highlighting a disciplined approach to liquidity and volatility control [14] - Gotham's largest individual stock positions remain modest relative to total assets, reinforcing a systematic and diversified investment philosophy [15] - The filing reflects adjustments in factor exposure and portfolio construction decisions rather than discretionary stock picking, indicating a structured investment approach [16]

机构认为，短期来看，市场结构特征有望延续，量能或是行情的关键信号。 【财经日历】 中国贸促会召开12月例行新闻发布会 日本央行公布12月货币政策会议审议委员意见摘要 当地时间上周五，美股三大股指在清淡交易中徘徊于历史高点附近。截至收盘，道指跌0.04%，纳指跌0.09%，标普500指数跌0.03%，盘中创新高。 个股方面，人工智能芯片巨头英伟达涨1.02%，此前该公司宣布与初创企业格罗克（Groq）达成芯片技术授权协议，并计划聘任格罗克首席执行官加盟。 明星科技股分化，甲骨文涨0.25%，亚马逊涨0.06%，微软跌0.1%，苹果和谷歌跌0.2%，Meta跌0.6%，特斯拉跌2.1%。 零售巨头塔吉特涨3.13%，据报道，该公司正面临对冲基金TCIM资本投资管理公司的施压，后者已持有塔吉特大量股份。 纳斯达克中国金龙指数收涨0.72%，阿里巴巴涨1.5%，拼多多涨1.4%，百度涨1.2%，京东涨0.8%，网易涨0.7%。 国际油价走低，WTI原油近月合约跌2.76%，报56.74美元/桶，布伦特原油近月合约跌2.57%，报60.64美元/桶。 贵金属市场大幅上扬，纽约商品交易所12月交割的COMEX黄金期货涨1 ...

// 热点头条 // 1. 宁德时代：宣布明年钠电池将在换电、乘用车、商用车等领域大规模应用，标志着钠离子电池技术正 式进入商业化落地阶段，有望缓解动力电池行业对锂资源的依赖，为新能源产业链带来新的增长极。 2. LG新能源：继上周解除与福特汽车价值约9.6万亿韩元电池供货合同后，又宣布解除与美国FBPS价值 约3.9万亿韩元的电池供货合同，两笔合同金额合计相当于公司2024年销售额的一半以上，公司表示将 优化客户结构以降低经营风险。 3. 台积电：台湾宜兰外海发生6.6级地震后，新竹科学园区内部分厂区达到疏散标准，公司立即启动紧 急应变程序组织员工疏散及清点工作，目前各厂区安全生产系统运行正常，人员已陆续返回岗位，生产 未受显著影响。 // 大中华地区公司要闻 // 1. 吉利汽车：就合同纠纷正式起诉欣旺达，索赔金额高达23亿元，此次诉讼涉及动力电池供应相关协议 履行问题，双方尚未就和解达成一致，案件已进入司法程序，市场密切关注对新能源汽车供应链的潜在 影响。 2. 小米集团：联合创始人、执行董事、副董事长林斌计划自2026年12月开始，每12个月出售金额不超过 5亿美元的公司B类普通股，累计出售总金额不超 ...

Amazon - Amazon has deployed over 1 million robots in its warehouses, projected to save up to $4 billion annually in fulfillment costs, with expectations of significantly lifting operating margins for the retail segment by 2030 [1] - The company is investing heavily in AI, with planned capital expenditures projected at $125 billion in 2025, focusing on custom silicon chips to enhance performance and reduce costs compared to competitors [2] - Amazon's advertising segment is the fastest-growing, with annualized revenue expected to exceed $60 billion in 2025, potentially approaching $100 billion annually in the coming years [3] - Amazon Web Services (AWS) remains the primary profit engine, accounting for approximately 30% of the global cloud infrastructure market [4] - In Q3 2025, Amazon reported revenue of $180.2 billion, a 13% year-over-year increase, with net income rising 38% to $21.2 billion [7] Vertex Pharmaceuticals - Vertex Pharmaceuticals has a trailing-10-year return of around 90%, driven by its cystic fibrosis drug franchise and expansion into the rare disease market [8] - The company is diversifying its portfolio with late-stage clinical programs targeting kidney disease, pain management, and type 1 diabetes, supported by a solid balance sheet and substantial free cash flow [9] - Vertex is launching Casgevy, a gene-editing therapy for sickle cell disease, and Journavx, a non-opioid medicine for pain management, with significant market interest and regulatory approvals [10][11] - The company reported revenue of over $3 billion in Q3 2025, an 11% increase from the previous year, and is positioned for significant growth through innovation and diversification [14] TJX Companies - TJX Companies has seen a nearly 150% increase in stock value over the last five years, attributed to its effective off-price retail model [15] - The company plans to expand its store footprint to 7,000 globally, enhancing its physical presence in existing and new markets [16] - TJX's business model encourages frequent shopper visits due to its ever-changing inventory and unique product offerings, appealing to cost-conscious consumers [17] - In Q3 2026, TJX reported earnings per share of $1.28 on $15.1 billion in revenue, reflecting year-over-year increases of 12% and 7% respectively [19]

Core Viewpoint - Amazon has underperformed compared to the broader tech market over the past year, despite a re-acceleration in AWS and growth in high-margin monetization layers [1] Group 1: Company Performance - Amazon's stock has traded at a discount relative to its peers in the tech sector [1] - AWS has shown signs of re-acceleration, indicating potential for future growth [1] Group 2: Investment Focus - The analysis emphasizes the importance of identifying undervalued companies with strong competitive advantages [1]