Joining us now, Mark Mahaney, Everore, senior managing director of internet research. Mark, great to see you in person. Um, we mentioned the Google 60%.Most of that move was in the second half of the year. So, it's it's sort of an interesting dynamic here where it's no longer a top pick because of the recent run, but you still think it is firmly in the hold in the buy camp, I should say. >> It's a quality compounder.So, we've had a stock that went from 15 times earnings to almost 30 times earnings in a six- ...

12月16日，胡润研究院在深圳市福田区发布《2025胡润全球高质量企业TOP1000》。这是胡润研究院第二次发布该 榜单。 据悉，本次榜单主要以企业市值或估值为依据，并综合考量创新能力、可持续发展、社会责任、市场影响力等多维 度指标，旨在甄选出全球价值最高的企业。上市公司市值按照2025年11月14日的收盘价计算，非上市公司估值参照 同行业上市公司或最新一轮融资情况进行估算。 数据显示，79%的胡润全球1000强企业价值比去年有所提升，其中171家是新面孔，只有21%的企业价值出现下降。 上榜门槛从去年的1400亿元人民币上升至1800亿元人民币，上榜企业的总价值高达785万亿元人民币。 英伟达成为全球价值最高公司 2025年胡润全球高质量企业前十名由美国科技巨头主导，其中英伟达、苹果、微软、Alphabet、亚马逊、博通、 Meta Platforms、特斯拉来自美国，沙特阿拉伯上榜的企业有沙特阿美，中国上榜的企业有台积电。 | | 前十名 | | | | | | --- | --- | --- | --- | --- | --- | | 排名 | 公司 | 价值(亿元人民币) | 涨幅 | 主要行业 | ...

Core Insights - The 2025 Hurun Global High-Quality Enterprises TOP 1000 list highlights the highest valued companies globally, focusing on market capitalization, innovation, sustainability, social responsibility, and market influence [1][7] - 79% of the companies on the list saw an increase in value compared to the previous year, with 171 new entrants and only 21% experiencing a decline [1] - The total value of the listed companies reached 785 trillion RMB, with the entry threshold rising from 1.4 trillion RMB to 1.8 trillion RMB [1] Group 1: Top Companies - Nvidia is now the highest valued company globally, valued at 328.3 trillion RMB, with a 49% increase driven by demand for AI chips [4][5] - Apple remains in second place with a value of 286 trillion RMB, benefiting from strong device and service revenues, while Microsoft dropped to third with a value of 268.8 trillion RMB, growing 13% [4][5] - Alphabet ranks fourth with a value of 239.5 trillion RMB, up 48%, followed by Amazon at fifth with 180.1 trillion RMB, reflecting improvements in e-commerce and AWS [4][5] Group 2: Notable Trends - Saudi Aramco, the highest valued energy company, saw an 8% decline in value to 118.3 trillion RMB due to a weak oil market [5] - Broadcom entered the top ten with a remarkable 118% increase, reflecting the semiconductor boom and AI demand [5] - Tesla re-entered the top ten with a 115% increase, valued at 95.3 trillion RMB, driven by strong demand for electric vehicles and AI integration [6] Group 3: Chinese Companies - China has 158 companies on the list, with TSMC leading at 105 trillion RMB, a 64% increase, followed by Tencent at 53.3 trillion RMB, up 62% [8][9] - ByteDance saw a 99% increase in value to 34 trillion RMB, while Agricultural Bank of China grew 85% to 28.9 trillion RMB [8][9] - Notable mentions include Alibaba, which increased by 77% to 27 trillion RMB, and CATL, which surged 126% to 18.6 trillion RMB [9] Group 4: Geographic Insights - Beijing remains the top city with five new companies, followed by Tokyo and New York, while San Francisco and Houston also saw significant representation [10] - The growth of AI, semiconductors, and cloud computing continues to drive value in major tech hubs [10] Group 5: AI Sector Growth - The AI sector has shown exceptional growth, with 11 companies valued at over a trillion RMB, compared to only four in 2020 [11][12] - The top ten companies' total value nearly doubled from 69 trillion RMB in 2020 to 184 trillion RMB [12] - Nvidia, Broadcom, and TSMC lead in computing power, while Alphabet, Microsoft, and OpenAI dominate in software [12][13]

The technology sector has been a more than attractive buying opportunity after this year’s explosive run, and analysts believe the momentum is likely to continue next year. With that in mind, Finbold has come up with a list of the top three biggest tech stocks to buy in 2026.1. Alphabet (GOOGL)The first tech stock on the list is Alphabet (NASDAQ: GOOGL), so far the most impressive ‘Magnificent Seven’ stock this year, outperforming both its peers and the S&P 500 by a significant margin. At press time, GOOGL ...

In our latest SA article published in August for Alphabet Inc. ( GOOG )( GOOGL )( GOOG:CA ), we recommended buy when the stock was trading at $200. The stock is now trading at $310, representing a total returnWe write about companies trading at attractive valuations with strong durable competitive advantages. Investment Principles- Invest in companies with consistent earning power and durable competitive advantages.- Invest in companies where we can get a sufficient margin of safety.- We prefer companies th ...

watch nowRobotaxis felt like science fiction just a decade ago, but this year, autonomous vehicles became a commonplace option for paying passengers across big cities in the U.S. and parts of Asia.Alphabet-owned Waymo kept expanding and dominates the robotaxi market in the U.S., though rivals Tesla and Amazon-owned Zoox also launched the first versions of their services in 2025. Meanwhile, Baidu-owned Apollo Go dominated in China. Some parents are now sending teens to schools and activities in Waymos, and w ...

French oil and gas supermajor TotalEnergies is expanding its cooperation with Google and its footprint in long-term power purchase agreements after signing a 21-year PPA to provide renewable energy to the hyperscaler’s data centers in Malaysia. On Tuesday, TotalEnergies announced the new deal with Google, which will see the energy giant supply Google with a total volume of 1 TWh, equivalent to 20 MW, of certified renewable power from the Citra Energies solar plant in the northern Kedah province. The sol ...

纵观全球，在AI领域能提的上一个"好"字的，只有中国和美国，其他国家的AI要么只是个"新建文件 夹"，要么就是徒有其名，实则难堪大用。 为什么会出现这样的情况，中国和美国有什么魔力能够给AI发展提供土壤？ 这个问题，主要取决于中美两国的经济模式，进而影响了投资方式。 01美国"市场先声，政府补位" 要谈美国的AI领先，就不得不提美国的风投资本生态。 美国早期的资本生态以风险投资为核心，其国民特性也崇尚冒险，资本想要寻找新蓝海，总是喜欢听新 的故事，创新就成为了那些资本们投资时最喜欢追求的东西。 这种国民特性起源于他们短短的历史中早期资本积累的经验，热衷冒险的感觉就像早期殖民美洲时的淘 金热。 一切都要看投资人在众多离谱故事中，是否能够通过自身的能力找到真的"金子"。 即便他们后来建立了美国，也依然过度地强调自由，甚至极端厌恶政府的干涉，美国大批的"无政府主 义者"也脱胎于这样的社会文化。 因此，AI的出现以及天马行空的想象，是最吸引美国投资者的，而这种冒险的行为，恰恰也是推动社 会进步、迈向全新领域必不可缺的核心特质。 换而言之，热衷风投会给美国的创新研发带来很大的容错空间。 这种容错性恰恰也是AI的高投入所 ...

法国能源巨头道达尔能源于本周二宣布，已与字母表公司旗下的谷歌签署一份为期 21 年的供电协议， 承诺为谷歌在马来西亚的数据中心提供 1 太瓦时的可再生能源。 这家法国能源企业表示，相关电力将由马来西亚新建的西特拉能源太阳能电站供应，该电站计划于 2026 年初动工建设。 这份供电合同预计将于明年第一季度正式生效。 此外，道达尔能源已于 11 月达成另一项独立协议，同意为谷歌位于美国俄亥俄州的数据中心供电。 随着科技企业竞相满足人工智能的研发需求，以科技巨头为主导建设的数据中心对能源的需求量正持续 攀升，其能耗规模往往超出当地公用电力公司的供应能力。 法国能源巨头道达尔能源于本周二宣布，已与字母表公司旗下的谷歌签署一份为期 21 年的供电协议， 承诺为谷歌在马来西亚的数据中心提供 1 太瓦时的可再生能源。 这家法国能源企业表示，相关电力将由马来西亚新建的西特拉能源太阳能电站供应，该电站计划于 2026 年初动工建设。 这份供电合同预计将于明年第一季度正式生效。 此外，道达尔能源已于 11 月达成另一项独立协议，同意为谷歌位于美国俄亥俄州的数据中心供电。 随着科技企业竞相满足人工智能的研发需求，以科技巨头为主导建 ...

The stock market might be set for another positive year in 2026 thanks to megatrends like artificial intelligence (AI).The S&P 500 (^GSPC 0.16%) index is made up of 500 companies from 11 different sectors of the economy. It's weighted by market capitalization, so its largest constituents -- which include artificial intelligence (AI) powerhouses like Nvidia and Alphabet -- have a much greater influence over its performance than the smallest.The S&P 500 set a new record high last Thursday on the back of a 16% ...