国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 1月22日消息，在 世界经济论坛期间，英伟达CEO黄仁勋对谈贝莱德CEO拉里·芬克。 黄仁勋称，自己最后悔的事情，就是曾经在英伟达市值3亿美元的时候出售股票，给父母买了一辆奔驰车，称"这是世界上最贵的车。" 近日，在瑞士达沃斯举行的世界经济论坛期间，英伟达创始人兼首席执行官黄仁勋与贝莱德集团首席执行官拉里·芬克展开对谈。 期间黄仁勋透露了自己人生中最后悔的一件事。在英伟达上市初期出售股票为父母购买奔驰轿车，并称从当前公司市值来看，这辆车堪称"世界上最昂贵 的汽车"。 据黄仁勋在对谈中披露，英伟达与贝莱德均于 1999 年完成首次公开募股，当时英伟达上市后的估值仅为 3 亿美元。 为了给父母一份"不错的礼物"，他在公司上市后不久便出售了部分个人持有的英伟达股票，用所得资金为父母购买了一辆梅赛德斯 - 奔驰 S 级轿车。 拉里·芬克在现场还特意开玩笑称，两家公司上市后投资年化收益存在明显差距，贝莱德的投资年化收益为 21%，而英伟达的投资年化收益则高达 37%， 这一对比更凸显出黄仁勋当年售股决策的"遗 ...

Group 1: Ethereum's Market Position - Ethereum is leading the tokenization of real-world assets, holding 66% of all tokenized assets, significantly ahead of Binance's BNB Chain at 10% [1] - Other competitors include Solana at 5%, Arbitrum at 4%, Stellar at 4%, and Avalanche at 3%, all of which have a combined market share well below Ethereum's [1] Group 2: Price Performance and Institutional Interest - Despite Ethereum's price being around $3,000, nearly 40% below its all-time high, Wall Street is making significant investments in Ethereum [3] - JPMorgan selected Ethereum for its first tokenized money market fund, valued at $9 trillion, and Morgan Stanley filed for an Ethereum exchange-traded fund [4] - BlackRock's iShares Ethereum Trust ETF has $11 billion in assets under management, with similar ETFs from Grayscale and Fidelity also reporting billions in AUM [4] Group 3: Corporate Investment Trends - Digital asset treasury firms are actively purchasing and staking Ethereum, with Bitmine acquiring an additional $100 million, adding to its $13 billion holdings [5] - Corporate players are typically long-term holders, and their acquisition of Ethereum may reduce liquid supply, potentially supporting price increases [5] Group 4: Broader Market Outlook - BlackRock's 2026 outlook also anticipates growth in the artificial intelligence and defense sectors, suggesting that the ongoing AI revolution has significant implications [6] - The report indicates that while some investors may take profits in AI companies, the overall data does not suggest a bubble [6]

In this article DYNF VLUE NVDA AAPL MSFT Apple CEO Tim Cook. Apple is one of the iShares U.S. Equity Factor Rotation Active ETF's top three holdings. (Kena Betancur/Bloomberg) With its $31 billion iShares U.S. Equity Factor Rotation Active exchange-traded fund, BlackRock has a major hit on its hands. But the fund's biggest test may be yet to come. ...

专题：世界经济论坛年会_2026冬季达沃斯 新浪财经 康路 发自瑞士达沃斯 2026 年 1 月 21 日，在世界经济论坛（WEF）年会期间，英伟达创始人兼CEO黄仁勋与贝莱德董事长兼 CEO拉里·芬克围绕人工智能对全球经济、基础设施、就业与长期资本的影响展开对谈。 英伟达创始人兼首席执行官黄仁勋在主会场对话中将 AI 描述为"人类历史上规模最大的基础设施建 设"的基础，并表示这将推动全球经济中的就业增长。 在与贝莱德集团 （BlackRock） 首席执行官 Larry Fink 的对谈中，黄仁勋将 AI 描述为"五层蛋糕"，而 不是单一技术，涵盖能源、芯片和计算基础设施、云数据中心、AI 模型以及最终的应用层。 黄仁勋表示，由于 AI 五层堆栈的每一层都需要构建和运行，因此平台转型正在为整个经济创造就业机 会，从能源和建筑到先进制造、云运营和应用开发。 应用层可能侧重于将 AI 集成到金融服务、医疗健康或制造业中。黄仁勋表示："最终，这一层将是产生 经济效益的地方。" 黄仁勋表示，从能源和发电到芯片制造、数据中心建设和云运营，AI 的部署已经创造了对技术型劳动 力的需求。他补充道，应用层将带来最大的经济效益 ...

Group 1 - Global financial leaders warn that government fiscal irresponsibility and geopolitical fragmentation may negate the productivity gains from AI [3][4] - The discussion at the World Economic Forum highlighted the parallels between the current economic climate and the pre-Great Depression era, particularly in terms of technological advancements and political failures [4][7] - Ken Griffin emphasized that the core risk in 2026 is not from private capital markets but from reckless government spending, with U.S. national debt reaching $38 trillion [5][7] Group 2 - Adam Tooze pointed out that the current technological boom, driven by AI, mirrors the 1920s' electrification and mass production, but political failures could lead to economic collapse [4][7] - Christine Lagarde noted that global trade is under unprecedented pressure due to geopolitical fragmentation and tariffs, which could hinder the scale effects needed for AI [4][10] - The average tariff between the U.S. and Europe has surged from 2% to over 12%, with a potential rise to 15%, impacting inflation and economic growth [10][11] Group 3 - Larry Fink stated that AI is not a bubble but will lead to significant failures, creating a "K-shaped" economy where large firms benefit disproportionately [6][8] - The cost of developing cutting-edge AI models is around $1 billion, and U.S. capital expenditure on data centers is projected to reach $600 billion this year [8][10] - Lagarde warned that geopolitical divisions and protectionism could obstruct the data flow necessary for AI efficiency [8][10] Group 4 - The discussion highlighted the importance of central bank independence in managing fiscal policies and avoiding reliance on monetary solutions to address structural imbalances [12][33] - Lagarde emphasized that not all debt is equal, and productive investments will always find funding, while non-productive debt will face challenges [33][42] - The need for cooperation in managing AI's development and its implications for society was underscored, with concerns about energy consumption and social consequences [32][34]

Core Viewpoint - President Trump has expressed dissatisfaction with Jerome Powell's tenure as chair of the Federal Reserve, suggesting that Powell's continued presence on the Board of Governors could lead to an unhappy experience for him [1][2]. Group 1: Federal Reserve Dynamics - The Trump administration has intensified its scrutiny of Powell, including issuing subpoenas related to a potential criminal investigation into the Fed's renovation of its headquarters, which Powell has labeled as political pressure [2][4]. - If Powell remains on the Board after his term as chair ends in May, he would maintain significant influence over monetary policy decisions [4][6]. - Powell's continued presence would also prevent Trump from appointing a new chair unless another current governor is selected, which would require the White House to fill the position currently held by Governor Stephen Miran [6]. Group 2: Search for New Chair - Trump's search for a new Fed chair is reportedly narrowing, with the president indicating that he has reduced the list of candidates to potentially one [7]. - The final contenders for the position include Rick Rieder from BlackRock, National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller, and former governor Kevin Warsh [8][9]. - Hassett was initially seen as the frontrunner, but Trump has expressed concerns about losing a key economic policy messenger if Hassett were to move to the Fed [8][10]. Group 3: Confirmation Challenges - The ongoing subpoenas from the Trump administration may complicate the confirmation process for any new Fed chair nominee, with Senator Thom Tillis indicating he will oppose any nomination until the investigation is resolved [10]. - Trump has downplayed these concerns, suggesting that Tillis's political future is uncertain as he is not seeking reelection [10].

Core Insights - BlackRock acknowledges Ethereum's significant role in tokenization, suggesting it may become a central player in blockchain-based markets on Wall Street [1] - Ethereum currently supports 65% of tokenized assets, indicating its dominance in this sector and potential for value growth as more firms utilize it for digital asset representation [2][3] - The report highlights a trend where tokenized assets are gaining traction beyond speculative trading, with stablecoin adoption outpacing spot crypto trading volumes [2] Group 1 - Ethereum is seen as a potential "toll road" for blockchain markets, benefiting from increased trading activity and the issuance of stablecoins and real-world assets [1][3] - BlackRock's tokenized money market fund, BUIDL, has $1.6 billion in assets, with significant portions on Ethereum ($499 million) and Binance's BNB Chain ($503 million) [5] - The firm emphasizes the convergence of traditional markets with crypto, exemplified by the interest in spot exchange-traded funds for digital assets [5] Group 2 - BlackRock manages the largest ETFs for Bitcoin and Ethereum, with assets under management of $70.6 billion and $10.7 billion, respectively [6] - The report notes that while multiple networks can support tokenized assets, only Bitcoin and Ethereum are highlighted, indicating a focused strategy on these two [4] - Ethereum currently manages $13.2 billion in real-world assets, showcasing its capability in the tokenization space compared to other networks [4]

Core Viewpoint - The iShares S&P Mid-Cap 400 Value ETF (IJJ) is designed to provide exposure to the mid-cap segment of the U.S. equity market with a value bias, launched by BlackRock Inc. on July 24, 2000 [1] Group 1 - The ETF is managed by BlackRock Fund Advisors, indicating a strong management background [1] - The fund targets mid-cap stocks, which are typically defined as companies with a market capitalization between $2 billion and $10 billion, focusing on value-oriented investments [1]

Core Viewpoint - Delaware Life Insurance Company has become the first U.S. insurer to offer a cryptocurrency-linked investment within a fixed index annuity (FIA) by partnering with BlackRock, allowing investors to access bitcoin returns while protecting their principal [1] Group 1: Product Offering - The new FIA product will include the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index, which combines U.S. equities with bitcoin exposure through BlackRock's iShares Bitcoin Trust ETF (IBIT) [2] - The index targets a 12% volatility level using dynamic cash allocations to limit bitcoin's price swings, appealing to investors nearing retirement who typically avoid crypto markets due to risk and complexity [2] Group 2: Market Context - This launch is a response to the significant success and client demand for IBIT, enabling insurance clients to add bitcoin exposure as part of a broader indexed annuity strategy [3] - The move by Delaware Life reflects a broader trend among legacy financial institutions engaging with digital assets, bridging traditional retirement products with the crypto market [4]

Core Viewpoint - Investors are evaluating the value opportunities between Patria Investments (PAX) and BlackRock (BLK) in the Financial - Investment Management sector [1] Group 1: Zacks Rank and Earnings Estimates - PAX has a Zacks Rank of 1 (Strong Buy), while BLK has a Zacks Rank of 3 (Hold), indicating a stronger earnings outlook for PAX [3] - The Zacks Rank emphasizes companies with positive earnings estimate revisions, suggesting PAX is likely to see an improvement in its earnings outlook [3] Group 2: Valuation Metrics - PAX has a forward P/E ratio of 11.00, significantly lower than BLK's forward P/E of 20.65, indicating PAX may be undervalued [5] - PAX's PEG ratio is 0.71, compared to BLK's PEG ratio of 1.44, suggesting PAX has a better valuation relative to its expected earnings growth [5] - PAX's P/B ratio is 1.87, while BLK's P/B ratio is 3.09, further supporting the argument that PAX is more attractively valued [6] Group 3: Value Grades - PAX has earned a Value grade of A, whereas BLK has a Value grade of D, indicating that PAX is viewed more favorably by value investors [6] - The combination of Zacks Rank and Style Scores suggests that PAX is the better investment option compared to BLK at this time [6]