Key Points Letting your winners run is a time-honored and extremely successful investing strategy. Several of the market's biggest winners are well positioned to continue their relentless climb. Nvidia and Alphabet are already within striking distance of this lofty benchmark, and it wouldn't take much for Apple and Microsoft to get there as well. 10 stocks we like better than Nvidia › One of the most tried-and-true strategies in investing is to buy great companies and hold them through thick and ...

‘Big Short’ investor Michael Burry endorsed Actor and filmmaker Ben Affleck’s recent critique of AI, signaling strong agreement with the Hollywood star’s skepticism regarding the technology.AI Output Is ‘Not Reliable’On Sunday, in a post on X, Burry shared a recent snippet featuring Affleck in an episode of the Joe Rogan Experience podcast, in which Affleck criticized the current capabilities of large language models such as ChatGPT, Claude and Gemini, arguing that their output was fundamentally “not reliab ...

Group 1 - Major U.S. tech stocks experienced a decline on the Frankfurt Stock Exchange, with Nvidia dropping by 2% [1] - Microsoft and Google both saw a decrease of 2.3% [1]

以精准预测市场泡沫(如2000年互联网泡沫、2008年金融危机)而著称的传奇投资家、GMO投资公司联合 创始人杰里米.格兰瑟姆(Jeremy Grantham)在近期的一场访谈中指出，人工智能(AI)是等待破裂的经典市 场泡沫。 不过，这并不意味着应该完全放弃美国市场。格兰瑟姆对初创企业仍持乐观态度，他认为当下最具吸引 力的机遇不在公开市场，而在风险投资领域。 格兰瑟姆的核心观点简单得令人意外。他表示，从长期来看，唯一持续可靠的策略就是在资产便宜时买 入——即经典的价值投资。投资者信奉的其他所谓"超额收益"大多可归结为同一理念。例如常被提及的 小盘股溢价，与其说源于规模优势，不如说是机制使然——基金经理被迫卖出上涨至脱离小盘股范畴的 股票，同时买入跌入该范畴的股票，这实质上构成了向价值投资的结构性再平衡。 这对当今投资者意味着什么?格兰瑟姆指出，答案显然不在美国上市股票中。尽管AI相关资本支出和市 场狂热情绪推高了股价，但数字规律从不留情——当前价格攀升得越高，未来回报就可能越低。 格兰瑟姆补充称，AI同样无法逃脱市场的长期规律。正如19世纪的铁路或20世纪90年代末的互联网， 这是真正具有变革性的技术——而 ...

这种相关性的破裂正在重塑市场格局。投资经理们指出，"七巨头"——涵盖微软，Meta，苹果，亚马逊，特斯拉，Alphabet以及英伟达——已不 再是股市长红的代名词。随着AI军备竞赛的深入，这些公司在战略投入与核心业务增长上表现各异，导致其股价走势不再同步。 Bahnsen Group的首席投资官David Bahnsen直言："它们之间的相关性已经崩溃。如今它们唯一的共同点，仅仅是都拥有万亿美元的市值。" 曾经共同推动美股市场的"七巨头"阵营正在瓦解，这一曾被视为铁板一块的巨型科技股组合，如今已不再是投资者眼中的单一资产类别。随着市 场对人工智能热潮的看法趋于理性与审慎，这些万亿市值巨头的命运在过去一年中发生了显著分化。 在刚刚过去的2025年，仅有Alphabet和英伟达两家公司的表现跑赢了标普500指数。进入新的一年，这种分化趋势仍在延续，"七巨头"中已有五家 公司的表现不及大盘基准。曾主导市场的AI交易策略正在发生转变，资金不再盲目涌入整个板块，而是开始进行更具选择性的押注。 AI交易的分化与重构 随着牛市的演进，围绕人工智能的交易逻辑已发生演变。部分投资者预计AI红利将向医疗保健等行业扩散，而另一部分 ...

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Sandbox typically refers to a secure and live testing environment and draws its name from a child's sandbox, where children can build, experiment with or even destroy sand formations without causing any damage to the real world. A B2B company, SandboxAQ, now focuses on enterprise solutions converging AI and quantum technologies to help corporates and governments on drug discoveries, materials science, navigation, cybersecurity, etc. Speaking to PTI during the World Economic Forum Annual Meeting here, Hida ...

Core Insights - Anthropic's Cowork is a desktop AI agent that allows users to automate tasks without programming, but it is expensive, available only to Max users at a minimum of $100 per month [1] - The rapid development of a free open-source version, OpenWork, within 48 hours indicates low technical barriers and clear product logic [1] - The development cycle of Cowork was only 10 days, with most of the code generated by AI, showcasing the potential for AI to create AI [1][9] Product Comparisons - Manus, developed by a company acquired by Meta, is known as the "first general AI agent" and achieved $100 million in annual recurring revenue within 8 months of its launch [3] - Gemini CLI, Google's open-source terminal agent, offers free access to Gemini 2.5 Pro and supports various integrations, but has a higher usage barrier due to its command-line interface [5][6] - ChatGPT Agent, launched in July 2025, operates in a virtual machine environment and has a lower baseline success rate of 12.5% in practical tests, indicating a need for optimization [5][6] Technical Architecture - Manus employs a multi-agent system using a MapReduce architecture, allowing it to handle large-scale tasks efficiently [7] - Cowork operates within a local folder using sandbox mechanisms for security, while Gemini CLI provides direct access to system terminals, offering flexibility but with higher risks [6][8] - The integration of multiple agents and tools represents different balances of security and capability across these products [7] Industry Implications - The emergence of AI building AI signifies a shift in software development timelines, reducing them from months to days [9] - The recursive improvement process within Anthropic has led to a significant increase in coding efficiency, with AI now handling 60% of coding tasks [10] - The transition from traditional software development roles to AI-assisted roles is reshaping the engineering landscape, with engineers focusing more on code review and architecture [12] Future Trends - The trend of AI constructing its successors is irreversible, with predictions indicating that by 2028, 90% of B2B procurement will be handled by AI agents [22] - The potential for AI to transform workflows into AI-first designs is significant, although challenges related to security and reliability remain [22][23] - The shift from passive chatbots to proactive AI agents represents a fundamental change in human-computer collaboration, with profound implications for productivity and task execution [23]

编辑：元宇 https://arxiv.org/pdf/2512.14982 【导读】 简单到难以置信！近日， Google Research一项新研究发现：想让大模型在不启用推 理设置时更准确，只需要把问题复制粘贴再说一遍，就能把准确率从21.33%提升到97.33%！ 一个简单到「令人发指」的提示词技巧，竟能让大模型在不要求展开推理的情况下，将准确率从 21.33%提升到97.33%！ 最近，Google Research发现了一条简单粗暴、特别有效的提示词技巧。 它颠覆了以往诸如「思维链」（Chain of Thought）「多样本学习」（Multi-shot）「情绪勒索」 等复杂的提示工程和技巧。 在这篇题为《Prompt Repetition Improves Non-Reasoning LLMs》论文中，研究人员用数据告 诉我们： 想要让Gemini、GPT-4o、Claude或者DeepSeek这些主流模型中表现得更好，根本不需要那些花 里胡哨的心理战。 你只要把 输入问题重复一遍，直接复制粘贴一下，就能让大模型在非推理任务上的准确率获得惊人 提升，最高甚至能提升76个百分点！ 别怕简单，它确实 ...

Group 1 - Investors are increasingly focused on quantum computing as a revolutionary technology that operates on the principles of quantum mechanics, utilizing qubits instead of classical bits [1] - Despite the challenges in building quantum computers, such as qubit fragility and error rates, both dedicated quantum companies and established tech giants are making significant progress [2] - Alphabet (NASDAQ: GOOG) is highlighted as a strong investment opportunity due to its established revenue streams from advertising and its growing cloud business, which recently surpassed $100 billion in quarterly revenue for the first time [5][6] Group 2 - Alphabet has made notable advancements in quantum computing, including the introduction of its quantum chip, Willow, which has shown the ability to significantly reduce errors as qubits scale [7] - The potential of quantum computing lies in its ability to solve complex problems that are currently beyond the capabilities of classical systems, presenting significant investment opportunities for early adopters [8]