Core Insights - Norway's $2.2 trillion sovereign wealth fund has reduced its stakes in major US tech firms, including Nvidia, Apple, Microsoft, and Alphabet, by the end of 2025 [1][2] Group 1: Investment Adjustments - The fund cut its stake in Nvidia from 1.32% to 1.26% and in Microsoft from 1.35% to 1.26%, while still maintaining these companies among its top five investments [2] - The total number of companies held by the fund decreased to 7,201, having exited over 1,000 companies in the last six months of 2025 [3] Group 2: Portfolio Strategy - The fund's strategy includes simplifying its portfolio, which led to exiting stock markets in Moldova, Iceland, Croatia, and Estonia, while adding investments in Jordan and Panama [3] - Approximately 53% of the fund's investments are concentrated in the US across all asset classes, with significant holdings in US Treasuries, Japanese government bonds, and German bunds [3] Group 3: Geopolitical Considerations - An advisory panel has indicated that the fund needs to enhance its preparedness for increasing geopolitical risks, including tariffs and financial sanctions [4] - The fund faced criticism from US Republican lawmakers for its decision to sell out of Caterpillar Inc. last year [4] Group 4: Fund Overview - Norges Bank Investment Management, which manages the fund, operates under a benchmark index set by Norway's finance ministry, limiting its scope for active investment moves [5] - The fund's investment portfolio includes equities, fixed income, real estate, and renewable infrastructure, all outside of Norway [5]

Microsoft topped revenue and earnings estimates in its fiscal 2026 second quarter. But shares slid Wednesday evening as Azure failed to deliver meaningful growth upside. In-line guidance did little to change that narrative, which has been hurting the stock. Revenue increased about 16% year over year to $81.28 billion, beating the Street consensus estimate of $80.26 billion, according to data from LSEG. Earnings per share increased 28% from last year to $4.14, ahead of the $3.97 estimate, LSEG data showed. Q ...

钛媒体App 1月29日消息，根据最新公布的持股清单，挪威规模达2.2万亿美元的主权财富基金在2025年 下半年减持了美国大型科技股，包括其最大持股英伟达。到年底，负责管理该基金的挪威银行投资管理 公司已经减持了其前四大科技股，其中包括苹果、微软和Alphabet。该基金在6月底至年底期间，将英伟 达股份从其投资组合中1.32%的占比减持至1.26%，同时将其持有的微软的股份从1.35%减持至1.26%。这 两家公司仍然是该基金价值最高的五大投资之一，紧随其后的是Alphabet和亚马逊。苹果位列第二。 （广角观察） | | | June 30 Ownership | Yearend Ownership | | --- | --- | --- | --- | | | | (%) 6月30日所有权 | (%) 年末持股比例 | | Name 姓名 | Industry 行业 | (%) | (%) | | NVIDIA Corp NVIDIA 公 | Technology 技术 | 1.32 | 1.26 | | ID | | | | | Apple Inc 苹果公司 | Technology 技术 | 1.2 ...

前言 《电报解读》是一款主打时效性和专业性的即时资讯解读产品。侧重于挖掘重要事件的投资价值、分析 产业链公司以及解读重磅政策的要点。即时为用户提供快讯信息对市场影响的投资参考，将信息的价值 用专业的视角、朴素的语言、图文并茂的方式呈现给用户。 ①存储芯片+英伟达，用于DDR的产品已进入小批量测评，芯片元件产品已批量用于英伟达GPU，这家公 司产品获得数据中心、AI-GPU等领域客户认可。 ②端侧AI+光通信+谷歌，这家公司是谷歌Gemini AI端 侧硬件核心芯片供应商，布局FTTR光纤技术，构建多维通信矩阵助力端云互联。 ...

The While that's impressive, prior periods that approached such levels of outperformance have failed to persist. Not to worry, strategists say. They've grown optimistic on small caps as a way to play a broadening out of the bull run for stocks that's been powered by Big Tech. The bet is predicated on expectations for faster Bloomberg "This channel of strong enough growth-but not too strong-and lower or declining rates are two big macro forces that can push small caps higher," said Sebastien Page, chief in ...

在美国，SAT 备考几乎是一门明码标价的高成本服务。课程动辄数千美元，顶级私教按小时计费。家长和学生购买的不只是题目讲解，更是一整套围绕 练习、诊断、讲评与节奏管理形成的备考闭环。标准化考试的竞争并不只发生在考场上，也发生在备考过程里，谁能提供更系统的练习与诊断，谁就更接 近确定性。 如今，这种闭环正在出现新的变化。谷歌近日宣布 Gemini AI 上线免费的 SAT 全长练习测试功能，用户可以在对话中生成完整模拟试卷，并获得即时反 馈、错题解析与个性化学习建议。同时，Gemini 的相关内容还与 The Princeton Review 等传统备考机构合作提供支持。备考链条中最关键的环节开始以更 低门槛的方式进入平台体系。 当练习与诊断被平台化之后，标准化辅导服务的定价逻辑也会随之调整。题库内容、讲解产品以及中腰部辅导班长期依赖的溢价空间，可能面临重新分 配。接下来的问题是，免费 AI 私教覆盖的边界在哪里，哪些环节仍然难以被替代，辅导行业的价值又会向哪些方向上移。 01 标准化备考的"高价部分"，正在被重新打包 在 SAT 备考市场里，真正昂贵的从来不是某一道题的答案，而是围绕考试训练形成的服务链条。传统 ...

一串长达百万碱基的非编码 DNA 序列，曾如天书般无从解读，如今其调控功能与变异影响皆可被精准预测；一个与癌症相关的罕见突变，曾让病因成 谜，现在却能通过序列分析直接揭示其激活致病基因的全过程。 这都得益于登上权威科学期刊 Nature最新封面的统一 DNA 序列模型 AlphaGenome，这是 Google DeepMind Alpha 系列 AI 的新成员。 AlphaGenome 是一个能够统一预测长 DNA 序列功能的深度学习模型。它突破了以往技术的诸多限制，能够一次性处理长达 100 万个碱基对的 DNA 序 列，并以极高的分辨率精准预测数千种与基因调控相关的分子信号。 更令人振奋的是，AlphaGenome 不仅能"读懂"基因组，还能在短短一秒内评估出遗传变异对多种生物过程的影响。 论文链接：https://www.nature.com/articles/s41586-025-10014-0 为了推进科学研究，AlphaGenome 现已向全球科研界开放：研究人员可以通过 AlphaGenome API 进行非商业研究，并且可以在 GitHub 上访问模型代码 和权重。 这一突破引发了学界的高度 ...

Google agreed to two settlements within the span of a week that would see the tech giant pay out over $200 million. Smartphone users accused Google of programming its Android operating system to collect their cellular data without permission in one class action lawsuit, while others claimed that its voice-activated assistant spied inappropriately on them in a separate class action lawsuit. Both lawsuits were filed in federal court in the Northern District of California and require a judge's approval befor ...

Since NVIDIA (NASDAQ: NVDA) joined the trillion-dollar club in 2023, its market capitalisation has reached an eye-watering peak of US$5 trillion.However, good stocks are only good investments if one doesn’t pay too much for them.Here’s the five trillion-dollar question: Is it too late to buy NVIDIA?We unpack the drivers behind NVIDIA’s rise to find out. How NVIDIA Reached Trillion-Dollar StatusFrom its humble beginnings as a gaming graphics processing unit (GPU) provider, NVIDIA currently derives most of it ...

Group 1: Core Insights - Alphabet's Search business is leading the market with a 90.83% share, significantly ahead of competitors like Microsoft (4.03%) and others [1] - The introduction of AI Mode and AI Overviews is enhancing user engagement, with AI Mode now available in over 40 languages and boasting more than 75 million daily active users [1][2] - Google Cloud is benefiting from generative AI adoption, leveraging advanced models such as Gemini, Imagen, Veo, Chirp, and Lyria [1][9] Group 2: Product Enhancements - Alphabet is expanding Personal Intelligence in Google Search, allowing AI Pro and AI Ultra subscribers to connect Gmail and Google Photos securely to AI Mode [2] - The rollout of Gemini 3 as the default model for AI Overviews is aimed at improving user experience by enabling seamless transitions from quick answers to deeper discussions [3] - Google Trends has been redesigned to enhance the discovery of search trends, with new AI features aiding users in building travel plans and shopping conversationally [4] Group 3: Competitive Landscape - Microsoft is embedding AI capabilities across its product ecosystem, creating a competitive advantage through its investment in OpenAI and the integration of AI in Azure and Office 365 [5] - Amazon is also a significant competitor in the AI domain, enhancing its offerings through AI integration in its operations and AWS services [6] Group 4: Financial Performance - Alphabet's shares have increased by 71.2% over the past 12 months, outperforming the broader Zacks Computer and Technology sector, which returned 27.8% [7] - The stock is currently trading at a forward 12-month price/sales ratio of 10.2X, higher than the sector average of 7.44X, indicating a premium valuation [11] - The Zacks Consensus Estimate for 2026 earnings is $11.06 per share, reflecting a 4.6% growth from the fiscal 2025 estimate of $10.57 per share [12]