Core Insights - Google DeepMind has introduced a significant new capability called Agentic Vision for Gemini 3 Flash, transforming how large language models understand the world from passive guessing to active investigation [1][3][5]. Technology Overview - Agentic Vision allows models to actively manipulate images based on user requests by employing a "Think-Act-Observe" loop, enhancing the model's ability to analyze and interact with visual data [3][11]. - This capability has resulted in a performance improvement of 5% to 10% across various visual benchmark tests for Gemini 3 Flash [6]. Practical Applications - The technology enables developers to unlock new behaviors through code execution in the API, demonstrated in applications like PlanCheckSolver.com, which improved accuracy by 5% through iterative checks of high-resolution inputs [10]. - Agentic Vision facilitates image annotation, allowing the model to interact with the environment by drawing and labeling directly on images, ensuring pixel-level accuracy in its responses [13]. - The model can also perform visual mathematics and plotting, generating visual representations of data while avoiding common pitfalls of standard large language models [15][16]. Future Prospects - Google indicates that Agentic Vision is just the beginning, with plans to enhance implicit actions like image rotation and visual mathematics in future updates, as well as exploring additional tools for the Gemini model [20]. Competitive Landscape - The release of Agentic Vision coincides with DeepSeek's launch of DeepSeek-OCR2, suggesting a competitive response in the field of visual AI, where both companies are redefining machine vision capabilities [21][22]. - The competition centers around who can better define machine vision, with DeepSeek focusing on perception and Google emphasizing interactive capabilities through code execution [23].

Group 1: Automotive Industry - Stellantis (STLA) plans to implement more aggressive price reductions on new vehicles in France starting in 2026 to boost sales volumes and regain market share in a competitive landscape [2][9] Group 2: Technology Industry - Google (GOOGL) is actively engaging with the UK's Competition and Markets Authority (CMA) regarding proposed new controls on its search services, expressing optimism about finding a constructive resolution while cautioning against measures that could lead to a fragmented or confusing user experience [3][9] Group 3: Retail Industry - Walmart Inc. (WMT) has announced a significant investment in its pharmacy operations, promoting 3,000 roles to Pharmacy Operations Team Lead positions with an average hourly wage of $28, reflecting the company's commitment to its pharmacy team [5][9] Group 4: Financial Sector - The European Central Bank's Executive Board member Elderson emphasized the critical need for financial institutions to enhance their robustness and resilience against geopolitical shocks and macro-financial uncertainties [6][9]

格隆汇1月28日｜谷歌对英国竞争与市场管理局的搜索提案持乐观态度，认为双方有望找到前进之路。 谷歌(就英国竞争与市场管理局的搜索提案)表示，任何新的监管措施都必须"避免导致用户搜索体验碎 片化或混乱"。 ...

格隆汇1月28日｜英国竞争和市场管理局(CMA)提议在数字法下针对谷歌搜索设置监管"护栏"措施。管 理局正调查谷歌的出版商控制、公平排名以及数据可移植性选择界面。CMA就谷歌相关措施征求意 见，截止日期为2月25日。 ...

2026 年 1 月，全球云计算市场迎来重大价格调整，曾经维持近十年价格稳定甚至周期性降价的云服务行业出现实质性提价。 随着 AI 应用大规模扩展和算力资源短缺加剧，行业两大重量级云服务商 AWS、谷歌云相继宣布将在关键产品和服务上提价，标志着云服务定价策略进入 新阶段。 AWS 首当其冲：AI 算力服务价格上调约 15% 1 月中旬，AWS 实施了对其 EC2 机器学习容量块（Capacity Blocks for ML）服务的价格上调。 根据定价页面更新，这些用于大规模机器学习训练的 GPU 实例价格普遍上涨约 15%，例如 p5e.48xlarge 类型实例每小时费用从约 34.61 美元提高到约 39.80 美元。此次调整覆盖多个区域和实例类型，主要影响 AI 推理与训练相关的算力计费。 这次涨价没有通过传统新闻稿宣布，而是悄然反映在 AWS 的定价变更中。 此次举措被市场视为 AWS 在面临成本上升和资源稀缺双重压力下对定价策略的重要调整。 谷歌云紧随其后：数据传输等服务费率大幅上调 紧随 AWS 调价步伐，谷歌云于 1 月 27 日正式官宣将从 2026 年 5 月起对部分基础服务价格进行调整。 ...

Core Viewpoint - The European Commission has initiated two formal proceedings to ensure Google complies with the Digital Markets Act, focusing on interoperability and data sharing practices related to its Android operating system and search data [1][2]. Group 1: Interoperability Obligations - The first proceeding addresses Google's obligations under Article 6(7) of the Digital Markets Act, requiring Google to provide third-party developers with free and effective interoperability with features controlled by its Android operating system [2]. - The focus is on features utilized by Google's proprietary AI services, such as Gemini, to ensure third-party AI service providers have equivalent access, promoting innovation and competition in the AI landscape on mobile devices [3]. Group 2: Data Sharing Obligations - The second proceeding pertains to Google's obligations under Article 6(11) of the Digital Markets Act, mandating access for third-party online search engine providers to anonymized data from Google Search, including ranking, query, click, and view data [4]. - The proceedings will evaluate the extent of data sharing, anonymization methods, conditions for data access, and eligibility of AI chatbot providers to utilize this data, aiming to enhance competition against Google Search [5]. Group 3: Regulatory Process and Timeline - The European Commission aims to clarify compliance measures for Google regarding interoperability and data sharing obligations, with proceedings expected to conclude within six months and preliminary findings communicated within three months [7].

Core Viewpoint - Oracle's increasing cloud capital expenditure is positioning the company for its next growth phase, with a forecasted capital expenditure of around $50 billion for fiscal 2026, reflecting strong demand in AI and enterprise cloud services [2][3]. Group 1: Oracle's Growth Strategy - Oracle invested approximately $12 billion in the second quarter of fiscal 2026, focusing on GPU-based infrastructure and data centers to support Oracle Cloud Infrastructure growth [3]. - The company expects about $4 billion in incremental revenue acceleration starting in fiscal 2027, driven by AI training, inference, and multicloud deployments [4]. - Oracle is adopting a disciplined funding approach through a mix of debt markets and alternative models, such as customer-provided or leased chips, to align revenues with costs [5]. Group 2: Competitive Landscape - Oracle faces competition from Amazon and Alphabet, both of which are heavily investing in data centers and AI infrastructure to enhance their cloud services [6]. - Amazon's capital expenditure in the third quarter of 2025 reached nearly $90 billion, primarily for AWS and AI capacity, reinforcing its cloud leadership [7]. - Alphabet invested about $24 billion in the same period, focusing on servers and data centers to support Google Cloud and AI demand, with a significant backlog of $155 billion [8]. Group 3: Oracle's Stock Performance and Valuation - Oracle's shares have declined by 26.3% over the past six months, underperforming the Zacks Computer and Technology sector's growth of 14.4% [9][10]. - The current forward 12-month Price/Earnings ratio for Oracle is 23.1x, lower than the industry average of 26.69x, indicating a relatively undervalued position [10]. - The Zacks Consensus Estimate for Oracle's fiscal 2026 earnings is $7.42 per share, suggesting a growth of 23.05% compared to fiscal 2025 [11].

An Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) autonomous cab service, Waymo's "Ojai" Robotaxi, built in collaboration with Chinese automaker Zeekr, crashed into multiple vehicles in Los Angeles' Echo Park area.Ojai Robotaxi Was Driven By A HumanSurveillance camera footage has emerged of the incident on Tuesday, which took place on Sunday, around the Dodger Stadium area in the city. The video shows a Waymo veering off the road onto a grassy patch, before it came back on the street and crashed into multiple p ...

Investment Rating - The report maintains an "Outperform" investment rating for the communication industry [2][9]. Core Insights - The communication industry index outperformed the Shanghai Composite Index in December 2025, rising by 12.82% compared to +2.06% for the Shanghai Composite Index and +2.28% for the CSI 300 Index [8][14]. - Key material supply for optical modules remains tight, with major players like Longfei and Hengtong winning bids for China Unicom's hollow-core fiber cable procurement [8][9]. - The retail sales of communication equipment in China increased by 20.9% year-on-year in December 2025, driven by the demand for smartphones [8][41]. - The global smartphone shipment is projected to grow by 2% year-on-year in 2025, reaching 1.25 billion units, with AI smartphones expected to penetrate 34% of the market [8][29]. - The export value of optical modules from China decreased by 15.6% year-on-year in 2025, while Thailand's communication equipment exports surged by 152.1% [8][9]. Summary by Sections Market Review - The communication industry index rose by 12.82% in December 2025, outperforming major indices [14]. - Sub-sectors such as cables and network equipment saw significant gains, with increases of 22.05% and 19.44% respectively [15][19]. Industry Tracking - The capital expenditure of major cloud providers in North America reached $112.43 billion in Q3 2025, a 76.9% increase year-on-year [25][28]. - AI applications are driving cloud business growth, with major companies like Amazon, Microsoft, Google, and Meta significantly increasing their capital expenditures [25][29]. - The Chinese ICT market is expected to grow to approximately $889.43 billion by 2029, with a CAGR of 7.0% [39][40]. Domestic Telecom Industry - Telecom business revenue in China reached 1.6096 trillion yuan from January to November 2025, a year-on-year increase of 0.9% [48]. - The number of 5G mobile phone users reached 1.193 billion by November 2025, accounting for 65.3% of total mobile phone users [49]. - The number of fixed broadband users with gigabit access reached 239 million, representing 34.3% of total users [52].

科技巨头"Mag 7"财报季将于周三拉开帷幕，微软、Meta和特斯拉将在盘后公布业绩，苹果紧随其后于周四发布，四家公司总市 值达10.5万亿美元。高盛Delta One部门负责人Rich Prvorotsky最新表示，这一轮财报季归根结底将围绕一个核心问题："谁在减少 支出，谁在增加支出。" 市场预期"Mag 7"第四季度利润增长20%，这将是2023年初以来最慢的增速。在此背景下，这些公司面临压力，需要证明其承诺 的巨额资本开支正在以更显著的方式产生回报。投资者对资本开支指引的关注度空前高涨，这一数据将直接影响市场对AI投资回 报周期的判断。 本周将有三分之一的标普500成分股（按市值计算）公布业绩。据彭博汇编数据，迄今已有近80%的标普500公司业绩超出分析师 预期。瑞银全球财富管理的Ulrike Hoffmann-Burchardi表示："我们预计科技股业绩将表现强劲，但也预期盈利增长将扩展至各个 板块。" 尽管业绩稳健，但Wolfe Research的Chris Senyek指出，营收和利润双双超预期的公司股价在财报后反而出现负面表现。"换句话 说，双重超预期正因稳健业绩而受到惩罚，"他表示，"我们认 ...