科创板日报 . 专注科创板和科技创新，上海报业集团主管主办，界面财联社出品。 Alphabet Inc.旗下谷歌将向OpenAI劲敌Anthropic提供 多达 100万颗专用人工智能芯片，这笔交易价值数百亿美元 ， 深化了谷歌与这家快速增 长的人工智能初创公司之间的合作关系。 这项于周四宣布的交易将 显著提升Anthropic的算力，同时巩固谷歌在日益激烈的AI竞赛中作为主要投资方和关键AI基础设施供应商的地位 。 谷歌在一份声明中表示， 这批由其自主设计的TPU芯片——专门用于加速机器学习工作负载的芯片——计划于2026年部署，将带来超过1 吉瓦的算力 。 这笔交易是当前AI硬件竞赛中规模最大的交易之一，凸显出开发尖端AI系统的成本正大幅攀升：这类系统需要海量算力来训练和运行大型语 言模型。 Anthropic首席财务官Krishna Rao在声明中表示："Anthropic与谷歌着长期的合作伙伴关系，此次进一步扩大合作将帮助我们持 续提升算力，以深耕人工智能前沿领域。" 以下文章来源于科创板日报 ，作者卞纯 通过使用谷歌的TPU，Anthropic将获得除英伟达产品之外最先进的芯片基础设施之一，从而降低 ...

Core Points - The White House has released a list of donors for the construction of a new banquet hall, which is planned to cover an area of 90,000 square feet (approximately 8,361 square meters) [1] - The total estimated cost of the project is approximately $300 million, which is an increase from the previous government estimate of $200 million [3] Donor Information - Notable donors include major companies such as Apple, Amazon, Lockheed Martin, Microsoft, Google, cryptocurrency exchange Coinbase, Comcast, and Meta [3] - Other significant contributors include the Winklevoss twins (co-founders of Gemini), U.S. Secretary of Commerce Howard Lutnick and his family, and the Adelson family from Las Vegas Sands [3] - The donor list also features over 30 other organizations and individuals, including Altria Group, Booz Allen Hamilton, Caterpillar, Hard Rock International, HP, and Micron Technology [3]

Core Insights - Dongfang Hongwan Overseas Fund, managed by Dan Bin, submitted its 13F report to the SEC, revealing its Q3 2025 holdings [1] Group 1: Fund Performance and Holdings - As of the end of Q3, the fund's holdings increased from 13 to 17 stocks, with a management scale of $1.292 billion, approximately 9.2 billion RMB, up from $1.126 billion at the end of Q2 [2] - The top two holdings remain in technology stocks, with Nvidia and Google valued at $236 million and $224 million respectively, together accounting for 35% of the total portfolio [2] - Alibaba was newly added to the portfolio with a purchase of 221,000 shares, valued at $39.5 million, making it the tenth largest holding at 3.06% of the total [2] Group 2: Investment Strategy and Adjustments - Dan Bin expressed concerns about the growing gap between domestic internet giants and global leaders, using Alibaba as an example of a company that has significantly lagged behind [2] - In addition to Alibaba, the fund made small purchases in Broadcom, Astera Labs, and BitMine Immersion Technologies, indicating a focus on semiconductor and cryptocurrency sectors [3] - Significant reductions were made in Amazon and Netflix holdings, with cuts of 50% and 71.5% respectively, leading to their exit from the top ten holdings [3] Group 3: Leverage and ETF Adjustments - The fund adjusted its leverage products by introducing a 2x long Google ETF while completely selling off the 2x long Nvidia ETF, reflecting a continued preference for Google [4] - Dan Bin had previously reduced Nvidia holdings over two consecutive quarters while increasing Google positions, which rose from the sixth to the second largest holding [4]

Core Insights - Dongfang Hongwan Overseas Fund, managed by Dan Bin, revealed its Q3 portfolio adjustments, increasing its holdings from 13 to 17 stocks, with a management scale of $1.292 billion, up from $1.126 billion in Q2 [1][2] Group 1: Portfolio Adjustments - The fund made significant changes in Q3, including a first-time purchase of Alibaba, acquiring 221,000 shares valued at $39.5 million, representing 3.06% of the portfolio [2] - Major reductions were made in Amazon and Netflix, with holdings decreased by 50% and 71.5% respectively, causing both stocks to exit the top ten holdings [2] - The fund also entered into leveraged products, acquiring a 2x long GOOGL ETF while completely selling off a 2x long NVIDIA ETF [2] Group 2: AI and Semiconductor Investments - The fund strengthened its AI industry chain by investing in two semiconductor companies, Broadcom and Astera Labs, purchasing 29,000 and 64,000 shares respectively [4] - NVIDIA and Google remain the top two holdings, with respective values of $236 million and $224 million, together accounting for 35% of the total portfolio [4] - Dan Bin believes that the risk of missing out on the AI revolution outweighs the risks associated with potential bubbles, viewing AI as a long-term technological revolution [4][6] Group 3: Cryptocurrency Investments - After initially investing in Coinbase, the fund further diversified into cryptocurrency by purchasing shares in BitMine Immersion Technologies, a company focused on Bitcoin and Ethereum networks [3] - BitMine has exhibited extreme stock price volatility, with fluctuations of up to 694% in a single day [3]

近日，但斌执掌的东方港湾海外基金向美国证监会（SEC）提供了三季度的13F文件，其美股的最新调仓路径随之揭晓。 截至三季度末，东方港湾海外基金的持仓标的从二季度的13只增加至17只，期末管理规模为12.92亿美元（约92亿元人民币），较二季度末的11.26亿美元有 所增长。 但斌在三季度新买入5股，其中大举买入阿里巴巴，英伟达、谷歌依然位列前两大重仓股，并强化AI产业链布局，新进了两家半导体公司——博通、Astera Labs，同时大幅减持亚马逊和奈飞，清仓了2倍做多英伟达ETF。 首次买入阿里，减持亚马逊、奈飞 三季度，但斌进行了一轮调仓操作。首先，新买入5股，分别是阿里巴巴、博通、Astera Labs、BitMine Immersion Technologies（加密货币）以及2倍做多 GOOGL ETF。 其中，最大的动作是首次买入阿里巴巴，共买入22.1万股，期末持股市值为3950万美元，占组合比重为3.06%，位列其第十大重仓股。 早在9月初，但斌就在社交媒体表示，这几年国内互联网巨头距离全球巨头的差距是越来越大，需要奋力直追，而且能创历史新高，非常有意义。 但斌以阿里巴巴为例，其市值曾与美国互联 ...

Core Insights - Apple CEO Tim Cook stated that Apple Vision Pro aims to usher in the era of spatial computing, similar to how the iPhone revolutionized mobile computing, but it has not yet achieved the same level of impact as the iPhone [1] - Despite Apple Vision Pro's current status, the spatial computing market is gaining traction with multiple companies, including Samsung and Google, accelerating their investments in this area [1][2] Group 1: Product Comparisons - Samsung and Qualcomm, in collaboration with Google, have launched the Galaxy XR headset, which is the first to feature the Android XR operating system, positioning it as a lighter and more affordable alternative to Apple Vision Pro [2][4] - The Galaxy XR headset weighs 545g compared to Apple Vision Pro's 750-800g, and it features a Snapdragon XR2+ Gen 2 chip, 16GB RAM, and 256GB storage, with a battery life of 2.5 hours [7][14] - The Galaxy XR integrates AI capabilities and Google's Gemini system, allowing users to run all Android applications and utilize AI for enhanced functionality, which Apple Vision Pro currently lacks [8][14] Group 2: Market Dynamics - The launch of Android XR and the Galaxy XR headset marks a significant milestone in the spatial computing era, similar to the introduction of Android smartphones, as it opens the door for more developers to create XR content [15] - Despite the advancements, the XR market remains niche, requiring a larger user base and developer engagement to thrive, as highlighted by a developer's concerns about profitability and user adoption [18][21] - The competition between Apple and the Android XR ecosystem will hinge on the ability to integrate and iterate technology effectively, with Apple currently having an edge in resource mobilization and chip development [20][21]

Core Points - The construction of a new luxury banquet hall at the White House, covering an area of 90,000 square feet (approximately 8,361 square meters), has begun [1] - The estimated cost of the banquet hall is approximately $300 million (around 2.1 billion RMB), which is $100 million more than the previously announced cost of $200 million [1] - Major tech companies, including Apple, Google, Amazon, Microsoft, Meta, HP, and Micron, have pledged donations for the project, although the specific amounts donated by these companies remain unclear [1]

谷歌CEO桑达尔·皮查伊官宣其团队在Willow芯片上实现的量子算法最新进展。 图源：谷歌 来自达特茅斯学院的量子物理学家詹姆斯·惠特菲尔德（James Whitfield）则更加直言不讳："这项技术进步令人印象深刻，但认为它能突然解 决一些经济上可行的问题，还是略显牵强。"根据IBM和中国信通院报告总结来看，量子计算目前还处于早期技术攻关阶段，预计未来5到10年 有可能出现实质性进展。 朝着实际应用落地进发，量子计算再现重大突破。今日，谷歌CEO桑达尔·皮查伊（Sundar Pichai）发布推文，官宣其团队在Willow芯片上实现 的量子算法最新进展。 据悉，谷歌在Willow芯片上实现了首次可验证的量子优势算法，其成果目前已登上《自然》期刊。数据显示，该算法的运行速度比世界上最好 的超级计算机快1.3万倍。该算法名为"量子回声（Quantum Echoes）"，可以利用核磁共振解释分子中原子之间的相互作用。皮查伊解释称，这 或许为未来在药物研发和材料科学领域的潜在应用铺平了道路。 值得一提的是，在此次发表论文的作者栏中，出现了2025年诺贝尔物理学奖得主米歇尔·德沃雷（Michel Devoret）的身 ...

Core Insights - Anthropic and Google have announced a cloud partnership allowing Anthropic to utilize up to 1 million Google-designed Tensor Processing Units (TPUs), marking the largest TPU commitment to date, valued at several billion dollars [2][9] - The deal is expected to provide over 1 terawatt of AI computing power by 2026, with the estimated cost of a 1 terawatt data center around $50 billion, of which approximately $35 billion is typically allocated for chips [2] - Anthropic's strategy focuses on a multi-cloud architecture, enabling workload distribution across different platforms, enhancing efficiency and cost-effectiveness [3][6] Anthropic's Growth and Revenue - Anthropic's annual revenue run rate is nearing $7 billion, with its Claude model supporting over 300,000 businesses, reflecting a staggering 300-fold growth over the past two years [5][6] - The number of large clients contributing over $100,000 in annual revenue has increased nearly sevenfold in the past year [6] - The Claude Code assistant generated $500 million in annual revenue within just two months of its launch, making it the fastest-growing product in history [6] Competitive Landscape and Partnerships - Amazon remains Anthropic's most significant partner, having invested $8 billion, compared to Google's confirmed $3 billion investment [6][7] - Anthropic's multi-cloud approach has shown resilience during AWS outages, as its architecture allowed operations to continue unaffected [7] - The partnership with Google reflects a strategic move to enhance Anthropic's market position while maintaining neutrality among cloud providers [7][16] TPU Development and Market Position - Google’s TPUs, developed over a decade ago, are gaining traction outside of Google, providing a viable alternative to NVIDIA's GPUs, which dominate the AI chip market [9][14] - The latest TPU version, Ironwood, was released in April and is designed for AI inference workloads, showcasing Google's ongoing innovation in chip technology [17] - Analysts suggest that the partnership with Anthropic validates the TPU's capabilities and may attract more companies to explore Google Cloud services [10][16]

Core Insights - Dongfang Hongwan Overseas Fund, managed by Dan Bin, revealed its Q3 portfolio adjustments, increasing its holdings from 13 to 17 stocks, with a management scale of $1.292 billion, up from $1.126 billion in Q2 [1][2] Group 1: Portfolio Adjustments - The fund made significant changes, including a first-time purchase of Alibaba, acquiring 221,000 shares valued at $39.5 million, representing 3.06% of the portfolio [2] - Major reductions were made in Amazon and Netflix, with holdings decreased by 50% and 71.5% respectively, causing both stocks to exit the top ten holdings [2] - The fund also entered into leveraged products, acquiring a 2x long GOOGL ETF while liquidating a 2x long NVIDIA ETF [2] Group 2: AI and Semiconductor Investments - The fund strengthened its AI industry chain by investing in two semiconductor companies, Broadcom and Astera Labs, purchasing 29,000 and 64,000 shares respectively [4] - NVIDIA and Google remain the top two holdings, with respective values of $236 million and $224 million, together accounting for 35% of the total portfolio [4] - The firm views AI as a long-term technological revolution, emphasizing that the risk of missing out on this era outweighs concerns about potential bubbles [4][6] Group 3: Cryptocurrency Investments - After previously investing in Coinbase, the fund made another move into cryptocurrency by purchasing shares of BitMine Immersion Technologies, a company focused on Bitcoin and Ethereum networks [3] - BitMine's stock is noted for its extreme volatility, with past price fluctuations of up to 694% in a single day [3] Group 4: Market Trends and Future Outlook - The firm believes that the demand for AI computing power will significantly exceed current supply, indicating a healthy financing structure and ongoing growth in AI applications [6] - Recent partnerships by OpenAI with major companies like Oracle and SoftBank are seen as pivotal in the AI computing landscape, marking a significant strategic move in the industry [5][6]