There have been many AI-driven selloffs in the three years since ChatGPT burst into the mainstream. Nothing, though, quite rivals the rout rippling through stock and credit markets this week.For one, there’s the sheer speed and breadth of it. In the span of two days, hundreds of billions of dollars were wiped off the value of stocks, bonds and loans of companies big and small across Silicon Valley. Software stocks were at the epicenter, plunging so much that the value of those tracked in an iShares ETF has ...

Core Viewpoint - The sentiment on Wall Street towards OpenAI has dramatically reversed, with previously favored stocks now facing sell-offs, while Alphabet has emerged as a major winner due to strong financial returns from its AI business [1][4][12]. Group 1: Market Sentiment Shift - Wall Street analysts indicate a narrative shift favoring Google over OpenAI, as concerns grow over OpenAI's financial sustainability and its impact on closely tied companies like Microsoft and Oracle [1][5][6]. - Oracle's stock has plummeted approximately 49% since last October, heavily reliant on OpenAI contracts, while Microsoft's stock has dropped over 20% during the same period [2][5]. - In contrast, Alphabet's stock has surged about 36% since last October, reflecting a positive market sentiment towards its AI capabilities [2][12]. Group 2: Alphabet's Financial Performance - Alphabet has successfully generated returns from its AI investments, with CEO Sundar Pichai stating that AI infrastructure is driving overall revenue growth [9][10]. - As of the end of December, Google Gemini applications had over 750 million monthly active users, and the enterprise version of Gemini reached 8 million paid licenses, contributing to a 48% increase in Google Cloud revenue [10][12]. - Despite initial concerns over a significant increase in capital expenditures projected to reach $175 billion to $185 billion by 2026, strong cloud performance and AI-driven growth have restored investor confidence [10][12]. Group 3: Market Dynamics and Tech Sector Analysis - A Deutsche Bank report highlights a "cleansing" phase in AI investments, indicating that the S&P 500's performance is largely supported by Google, with many tech stocks experiencing significant declines [4][12][14]. - The report emphasizes a shift from a mindset where all tech stocks were seen as winners to a more brutal reality of clear winners and losers in the market [12][14]. - Alphabet's stock has risen nearly 75% over the past six months, translating to approximately $1.7 trillion in market value growth, while most other companies in the tech sector have seen their market values stagnate [14][15].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：六里投资报 2月4日，著名投资人但斌在一场对话中，就2026年资本市场的投资逻辑，以及未来趋势给出了最新的见 解。 但斌这几年通过重仓美股科技巨头，使得其业绩在百亿私募中数一数二， 但也正因为其ALL IN AI的表态，以及在组合中运用杠杆进一步下注的操作也引发一些争议。但斌的具 体持仓可点此查看。 回顾2025年，但斌认为，这是人工智能从开始到勃发的重要一年， 而2026年马年，很可能是AI应用"万马奔腾"的一年； 包括年初看到的这些热门方向，包括去年底特斯拉全程无人驾驶穿越美国，它是自动驾驶的iPhone时 刻。 但斌强调，投资应把钱投到拉动经济增长的方向， 如人工智能、生物制药等新质生产力行业，赢的概率才大。 从金融史看，过去100年，美国的所有上市公司加起来，3%贡献了绝大部分的盈利，97%其实是不行 的， 少数公司在创造价值，多数公司在毁灭价值。 但斌认为，这一规律在中国最终可能也会适用。 此外，但斌指出，投资中"价值和成长一定是共生的关系"，二者相辅相成，且成长更为重要。 他提及巴菲特晚年投资科技股，强调这个时代中"自 ...

2月4日晚，东方港湾董事长但斌做客央视财经《投资大趋势》节目，分享了关于人工智能时代下的市场 投资见解。 投资作业本课代表整理了要点如下： 1、不学习，很可能错过一个时代。 回顾我们经历的电子硬件、互联网、移动互联网时代，每个时代都有重大机会。......腾讯，涨了六百多 (倍),网易涨了几千倍，这只是个案。从全球看，每个时代都涌现出许多上涨几千倍的公司。 从金融史看，过去100年，美国上市公司中，仅3%贡献了绝大部分利润，97%并不突出。 这个过程注定是少数公司创造价值，多数公司在毁灭价值。 2、当前对中国和全球经济而言，其实美国也一样，主要依靠人工智能、生物制药这类行业，比如商业 航天、即将上市的星链等。 这些新增长能否弥补其他领域的负向反馈?若能，经济就会蓬勃发展。因此，将资金投向这些方向，理 论上赢面更大。 3、对普通人和一般机构而言，错过一个时代的风险，远大于担心泡沫的风险。回顾过去几个时代，真 正赚到钱的人不多，很多人是错过了时代。 4、我个人判断，目前仍处于大发展之年。但为何很多人错失?因为存在泡沫的噪音。我视之为噪音，即 便今年下跌，也是噪音。 因为放在更长的周期里，今年可能只是蓄势之年。 5 ...

Group 1 - Mizuho Securities raised the target price for Alphabet from $400 to $410 [1]

业 研 究 2026 年 02 月 05 日 谷歌云发展超预期，资本开支高速增长，继续看好 AI 算力全链条 谷歌云营收增速超预期，谷歌、Meta、微软资本开支指引乐观 谷歌：根据谷歌最新财报，谷歌云 2025Q4 营收达 177 亿美元，同比增长 48%， 高于分析师预期的 162 亿美元，同时，2025Q4 Gemini App 月活超 7.5 亿，高于 2025Q3 的 6.5 亿。资本开支方面，2025Q4 达 279 亿美元，同比增长 95%，全年 资本开支实现 914 亿美元，同比增长 74%，预计 2026 年资本支出为 1750-1850 亿美元，中值为 1800 亿美元，同比增长 97%。 ——行业点评报告 行业走势图 数据来源：聚源 -29% 0% 29% 58% 86% 115% 2025-02 2025-06 2025-10 通信 沪深300 相关研究报告 《Meta、康宁、微软财报亮眼，重视 硅光 CPO、光纤、液冷投资机会—行 业周报》-2026.2.1 《超节点：光、液冷、供电、芯片的 全面升级—行业深度报告》-2026.1.28 《重视通信涨价方向：AI 云 IAAS 和 光纤 ...

Group 1 - The tech sector is experiencing significant anxiety, with major companies like Advanced Micro Devices (AMD) and Palantir seeing sharp declines in their stock prices, with AMD plunging 17% and Palantir dropping 12% [2][4] - Alphabet's plan to double its capital expenditure this year, exceeding analysts' expectations by over 50%, has contributed to early losses in its stock, although some losses were later reduced [2][4] - The software sector has lost nearly $1 trillion in value within a week, indicating that investors are increasingly wary of AI's potential negative impact on existing businesses [4][5] Group 2 - The volatility in tech stocks has led to a broader market reaction, with significant losses in the chipmaker sector affecting Asian markets, including a nearly 4% drop in South Korea's Kospi index [5][6] - Precious metals have also experienced extreme fluctuations, with silver prices falling by up to 17% at one point, reflecting the overall market instability [6] - The S&P 500 value index has shown resilience, gaining for five consecutive sessions, while the growth index has declined, indicating a sectoral rotation towards more cyclical stocks amid positive economic signals [7][8]

格隆汇2月5日｜伯恩斯坦公司将谷歌母公司Alphabet目标股价从335美元上调至345美元。 ...

Market Overview - Major U.S. stock index futures are down, with Dow futures falling by 0.27%, S&P 500 futures down by 0.10%, and Nasdaq futures decreasing by 0.05% [1] Storage Sector - The storage sector saw a pre-market rebound, with Micron Technology rising over 2% after a previous drop of over 9%, SanDisk increasing nearly 3% following a nearly 16% decline, and Seagate Technology up by 1% after a nearly 6% drop [1] Semiconductor and Chip Equipment Stocks - Semiconductor and chip equipment stocks experienced a pre-market increase, with Broadcom rising nearly 6%, and both AMD and NVIDIA increasing by over 2%. Alphabet, Google's parent company, indicated that its capital expenditures could double by 2026 [1] AI Application Software Stocks - AI application software stocks collectively rebounded in pre-market trading, with Applovin rising over 3%, Unity increasing nearly 1%, Roblox up by over 1%, and SAP SE rising nearly 2% [1] Chinese Concept Stocks - Chinese concept stocks saw a general increase in pre-market trading, with Baidu rising by 4.6%, Alibaba up by 2.7%, Pinduoduo increasing by 0.7%, and NetEase rising by 0.9% [1] Software Industry Performance - The U.S. software industry has seen a market capitalization decline of $1 trillion since 2026, with hedge funds profiting $24 billion from short-selling activities [2] Qualcomm's Earnings Guidance - Qualcomm's stock fell over 11% after reporting better-than-expected earnings for Q1 of fiscal year 2026, but provided a revenue forecast for Q2 between $10.2 billion and $11 billion, which was below expectations [2] AMD's Market Guidance - Citigroup reported that AMD's Q1 guidance exceeded market expectations but did not meet buyer expectations, maintaining a "neutral" rating on the stock [2] Alphabet's Collaboration with Apple - Alphabet's CEO Sundar Pichai announced a collaboration with Apple to develop the next generation of Apple's foundational model based on Gemini technology, positioning Alphabet as Apple's preferred cloud service provider [3]

本文源自：金融界AI电报 美股大型科技股盘前涨跌互现，英伟达涨1%，亚马逊、特斯拉涨0.1%，Meta跌0.1%，苹果跌0.8%，微 软、谷歌A跌1%。 ...