智通财经APP获悉，根据LSDEG I/B/E/S汇编的最新统计数据，华尔街分析师们对于美股基准股指——标普500指数(S&P 500)的2025年全年盈利增长预期已 经从10月17日的同比大幅增长20.9%(+20.9%)显著上升至截至2026年1月16日的最新增长预期——+25.4%。根据华尔街分析师们一致预期，预计2026年标普 500指数中广泛的科技行业的盈利增长率将比标普500指数整体盈利呈现更强劲的增长步伐。 截至上周末，根据最新一致预期，华尔街分析师们预计标普500指数中的广泛科技行业在2025年全年的盈利增长率为+25.4%，预计2026年科技行业的盈利增 长率将高达惊人的+31.1%，明显高于2025年增速以及远远高于美股市场的历史平均盈利水平。 而在美股的广泛科技行业中，当属在标普500指数以及纳斯达克100指数中占据高额权重的Mag 7(即七大科技巨头)对于科技板块盈利影响最大。根据机构汇 编的分析师一致预期，"七大科技巨头"，即"Magnificent Seven"(Mag 7)2026年整体盈利增长率约为24%，作为对比，标普500其余493家公司的盈利预计增 长约12.5%。 也就 ...

2025年，福建福耀科技大学正式官宣，"宝藏校长"王树国作为首任校长的身份。 在创办人曹德旺先生和王校长的口中，"对标斯坦福"的办学理念反复被提及。 在美国硅谷，最让人肃然起敬的不是惠普、谷歌、因特尔这些科技巨头，反而是斯坦福这所私立大学。 当人们开始集中讨论一所学校对中国未来的意义时，似乎有必要再把大洋彼岸的斯坦福重新理解一番。 斯坦福到底有什么不同？ 我们哪所大学有可能成为中国的斯坦福呢？ 01 从理想开始 "我是义务工作者，我一分钱工资都没有……我们都是付出，包括曹先生也是付出……" 王校长把这解释为"一个理念，一个理想"，网友一下子就被感动哭了。 事实上，斯坦福就是一所纯粹为情怀而建的学校。 1884年3月，第8任加州州长，同时是铁路大亨的利兰·斯坦福（Amasa Leland Stanford），唯一的儿子小斯坦福因为伤寒高烧，在欧洲去世了。 这给老来得子的斯坦福夫妇带来沉重打击。 此后的五个星期里，斯坦福把自己关在巴黎的旅馆内，不断地修改遗书。当他从房间里出来时，他对妻子说："从今天起，所有加州的孩子都是我们的孩 子。" 两年后，这个信念具化成了斯坦福大学创办基金，既是为了纪念小斯坦福的去世，也是 ...

整理 | Tina 谷歌把"Agent 购物"这件事，推到了一个更标准化的层面：Universal Commerce Protocol（UCP）正式亮相。 近日（1 月 11 日），谷歌 CEO Sundar Pichai（绰号"劈柴"） 首次登上 NRF（美国零售联合会年会），在题为"人工智 能平台转型及零售业的未来机遇"的主题演讲中宣布了该协议。 按照谷歌的说法，UCP 是一项新的开放标准，目标是让 Agent 能够在线上直接买东西。在实现机制上，UCP 通过定义一 组"代理商务的构建模块"，把端到端的购物流程拆解成可复用的能力组件：既覆盖推动商品发现与购买的关键动作，也延 伸到下单后的体验与服务等环节。 谷歌表示，这套设计将让生态系统在同一套标准下实现互操作，使任何 Agent 都能与任意商家进行对话，并自主完成从商 品发现到结账的完整购物流程。 | Universal-Commerce-Protocol/ucp Public | | | Notifications & Fork 157 27 Star 1.7k | | --- | --- | --- | --- | | <> Code · Issue ...

Core Insights - OpenAI is set to launch an advertising test for ChatGPT, with analysts predicting the potential for an annual revenue of $25 billion from advertising within four years, directly challenging Google's core search advertising market [1][3]. Group 1: Advertising Strategy - OpenAI's advertising strategy could lead to over $25 billion in annual revenue by 2030, driven by a large user base and high engagement data [3]. - Initial ads will appear at the bottom of ChatGPT responses and will be contextually relevant, with a commitment to user privacy [3]. - The company aims to create a "beneficial and non-intrusive" advertising experience to divert traffic from Google [4]. Group 2: Market Context - Google's search and YouTube advertising business is projected to generate nearly $300 billion by 2025, while Meta is expected to contribute around $180 billion [4]. - OpenAI's ChatGPT has nearly 1 billion weekly active users, providing valuable signals for advertisers, similar to those utilized by Google and Meta [3][4]. - The exploration of "conversational advertising" is seen as a high-intent scenario that could attract marketing budgets away from traditional platforms [4]. Group 3: Competitive Landscape - Despite the promising outlook, OpenAI faces significant challenges in disrupting Google's dominance, which is supported by a robust advertising technology stack and established user habits [4]. - OpenAI's CFO revealed that the company's annualized revenue for 2025 has surpassed $20 billion, a tenfold increase from $2 billion in 2023, with advertising seen as a key path to profitability [4].

（全球TMT2026年1月20日讯）今日要点：SK海力士将向员工发放创纪录巨额年终奖；台积电或在美国追加投资5家工厂；马斯克公布特斯拉AI芯 片研发路线图；OpenAI计划下半年发布首款硬件设备；王腾新公司完成数千万种子轮融资；李东生不再兼任TCL科技CEO。 SK海力士将向员工发放创纪录巨额年终奖 SK海力士将向全体员工发放人均超1.36亿韩元（约合64万元人民币）的绩效奖金，创公司成立以来最高纪录。重要原因在于，去年9月，SK海力 士与工会达成历史性劳资协议，废除此前"利润分享金（PS）不超过基本工资10倍"的上限，改为将年度营业利润的10%纳入奖金池。按照市场一 致预期，SK海力士2025年的营业利润将逼近45万亿韩元（约合2127.15亿元人民币），由此形成4.5万亿韩元（约合212.72亿元人民币）的奖金总 额。按公司3.3万名员工规模平均核算，人均可获1.36亿韩元。此外，员工还可选择将最高50%的奖金兑换为公司股票，持有满一年可额外获得 15%现金奖励。 台积电或在美国追加投资5家工厂 预计需求达到产能3倍的人工智能(AI)半导体的增产将加速。几乎包揽AI半导体生产的台积电(TSMC)1月15日 ...

Group 1: Commodity Market - Gold prices have surged to a historic high of $4,700 per ounce, driven by a flight to safety amid global uncertainties, with a notable increase of more than 1% on Monday following new tariffs announced by President Trump [3][7]. Group 2: Telecommunications Sector - CK Hutchison is reportedly in discussions to divest its Irish mobile operations to Liberty Global, which could lead to significant consolidation in the Irish telecommunications market [4][7]. Group 3: Technology Sector - ByteDance is intensifying competition with Alibaba in the AI cloud market, with its Volcano Engine holding a 14.8% market share compared to Alibaba Cloud's 35.8%, indicating a growing battle for dominance in this sector [5][7]. - Analyst firms have adjusted price targets for major tech companies, with TD Cowen lowering Microsoft's target from $655 to $625 and Baird increasing Alphabet's target from $310 to $350, reflecting changing expectations for these firms [7][8]. Group 4: Political and Economic Developments - Former President Trump announced a substantial 200% tariff on French wine and champagne, which may escalate trade tensions, and highlighted the importance of Greenland in upcoming discussions at the Davos summit [6][7].

Core Insights - Quantum computing is a rapidly evolving technology, with Alphabet and Microsoft positioned as key players due to their technological capabilities and financial resources [1][2]. Group 1: Alphabet's Developments - Alphabet has made significant advancements in quantum computing, notably with the introduction of the Willow processor, which reduces error rates in quantum computations [3][4]. - The Willow processor demonstrated the ability to solve a complex mathematical problem in five minutes, a task that would take a traditional supercomputer 10 septillion years [4]. - Alphabet is currently working towards achieving 1 million computational steps with fewer than one error, marking a substantial improvement over existing quantum technologies [5]. - The company reported approximately $24.6 billion in free cash flow for Q3, enabling continued investment in quantum computing [6]. Group 2: Microsoft's Innovations - Microsoft is advancing its quantum technology with the Majorana 1 processor, which can create a new state of matter and aims to produce stable qubits [8][9]. - The Majorana 1 processor is expected to facilitate the development of a processor capable of reaching 1 million qubits [9]. - Microsoft provides commercial quantum computing solutions through partnerships and its Azure Quantum cloud services, positioning itself as a strong competitor in the cloud market [10]. - The company reported $25.6 billion in free cash flow for Q3, providing ample resources for ongoing investments in quantum technology [11]. Group 3: Investment Appeal - Both Alphabet and Microsoft are well-established in the quantum computing sector and possess the financial means to sustain their initiatives [13]. - The current price-to-earnings (P/E) ratio for both companies is approximately 33, significantly lower than the average P/E ratio of nearly 45 for tech stocks, indicating potential value for investors [14]. - With their strong cash positions and ongoing technological advancements, both companies are well-positioned to capitalize on the growth of quantum computing in the future [14].

谷歌对其 Gemini AI 模型的改进正在提升公司的核心收入。 据三位了解 Gemini 销售情况的人士透露，过去一年间，谷歌销售其 Gemini AI 模型访问权限的业务呈现爆发式增长，这反映出这些模型质量的持续提升。 另据一位熟悉谷歌销售情况的人士指出，这种增长势头有望进一步推高谷歌云服务器销售核心业务的营收——因为客户在人工智能领域的投入往往会带动 他们对谷歌其他产品的额外采购。 这也可能增强 Google 基于这些模型销售软件的新兴业务——该业务近几个月快速增长，但获得的客户反馈呈现两极分化。 这些改进可能会体现在谷歌将于 2 月 4 日公布的第四季度财报中。投资者将寻找迹象，证明谷歌在人工智能领域的巨额投资正带来回报。 去年秋天，谷歌 表示预计资本支出将在 910 亿至 930 亿美元之间，其中包括对其人工智能业务的支持，这几乎是其 2024 年 525 亿美元资本支出的两倍。 此外，公司一直在为谷歌云及其人工智能研究部门 Google DeepMind 招聘专业人才。 谷歌通过谷歌云的应用程序编程接口销售其模型的访问权限。根据 The Information 查看的内部数据，发送至 Gemini ...

Core Insights - This year marks a significant surge in consumer AI product launches, with major players like OpenAI and Google releasing numerous new tools and features [5][6] - While AI usage is increasing, most consumers still predominantly use a single product, indicating a highly concentrated market where a few players dominate [6][7] - OpenAI's ChatGPT maintains a leading position with an estimated 800 to 900 million weekly active users, significantly outpacing competitors like Gemini [7][9] - Gemini has shown impressive growth, particularly in paid subscriptions, with a nearly 300% increase compared to ChatGPT's 155% [8][12] - The competition landscape suggests that while there are multiple players, the market is leaning towards a few dominant entities capturing the majority of consumer engagement [6][7] OpenAI - OpenAI launched several new features for ChatGPT, including image generation and enhanced user experiences, but these have not significantly improved user retention or engagement [9][10] - ChatGPT's user engagement metrics, such as a daily to monthly active user ratio of 36%, indicate strong retention compared to Gemini's 21% [7][12] - The introduction of new applications like Sora and Atlas has had mixed results, with Sora achieving over 12 million downloads but struggling with user retention [10][11] Google - Google has made substantial progress with its Gemini product, achieving a 155% growth in user engagement and introducing innovative models like Nano Banana [12][13] - The launch of NotebookLM has been particularly successful, doubling its web user base and reaching 8 million monthly active users [12][13] - Despite releasing several products, Google faces challenges in making these offerings easily accessible to users, which could hinder their overall impact [13][14] Other Key Players - Anthropic focuses on professional consumers, enhancing its Claude product with new features aimed at tech-savvy users [15] - Perplexity has targeted efficiency enthusiasts with products like Comet and a new conversational shopping assistant, achieving a significant revenue increase [17] - xAI's Grok has rapidly gained users, reaching 9.5 million daily active users by integrating more deeply with the X platform [18][19] - Meta's AI initiatives have seen mixed results, with its MetaAI app growing but facing challenges in user engagement [20] Opportunities for Startups - The current landscape presents significant opportunities for startups to create specialized consumer experiences, as larger companies focus on core capabilities [21][22] - Successful consumer AI products have emerged by offering unique interfaces and functionalities that exceed what model companies provide [22]

AIDC 电源革命开启，2026 从预期到现实 20260119 摘要 数据中心芯片功耗和机柜功率密度显著提升，英伟达 Rubin Ultra 芯片 开伯尔机柜功率已达兆瓦级别，预计北美 AI 数据中心到 2028 年新增功 率达 70 吉瓦，全球总新增功率预计达百吉瓦级别，对供电系统提出更 高要求。 英伟达和谷歌均提出数据中心供电四步走战略，最终目标一致，即采用 中压整流器或固态变压器（SST）将中压交流一步降至 800 伏直流，提 高转化效率，OCP 组织也在不断迭代数据中心供电标准，提升整体效率 与性能。 一次电源（柜外电源）未来发展方向是高压直流（HVDC）和固态变压 器（SST），SST 难点在于高频变压器技术，目前仅有少数企业交付 SST 产品或样机，HVDC 技术难点在于高功率 PSU 模块。 二次电源（柜内电源）发展趋势是单颗 PSU 功率不断提升，需采用碳化 硅和氮化镓等第三代半导体及新型拓扑结构，同时，从 HVDC 或 SST 主 机输出的 800 伏直流需通过 DCDC 转换器降至服务器可用电压。 AI 芯片电容市场由三星（原材料来自博迁新材）和村田主导，随着 AI 技 术发展，对高端电 ...