Group 1 - The core offering includes access to Bill Gunderson, a professional money manager and analyst with 23 years of experience [1] - The Ultra-Growth portfolio has achieved returns that are three times higher than the S&P 500 since its inception on January 1, 2019 [1] - The Premier Growth portfolio has doubled the market returns during the same time period [1] Group 2 - Membership provides daily "live" buys and sells, a weekly in-depth market-timing newsletter, and access to a proprietary database with daily rankings on over 5,300 securities [2] - A daily live radio show is also included as part of the membership benefits [2]

微软(MSFT.US)位列第三，持仓约5136万股，持仓市值约248.39亿美元，占投资组合比例为3.06%，较 上季度持仓数量减少5.86%。 来源：智通财经网 根据美国证券交易委员会(SEC)披露，高盛(GS.US)递交了截至2025年12月31日的第四季度持仓报告 (13F)。 据统计，高盛第四季度持仓总市值为8100亿美元，上一季度总市值为8200亿美元，环比下降约1.22%。 在第四季度的持仓组合中，高盛新增671只个股，增持3027只个股，清仓了555只个股。其中，前十大持 仓标的占总市值的22.11%。 | 2025-12-31 P | | | --- | --- | | 13F Activity | | | Market Value | $0.81t, Prior: $0.82t | | Inflows (Outflows) as % of Total MV | (-2.4403)% | | New Purchases | 671 stocks | | Added To | 3027 stocks | | Sold out of | 555 stocks | | Reduced holding ...

Zuckerberg and his wife, Priscilla Chan, are looking at purchasing a property on Indian Creek, a man-made island in Biscayne Bay known as Billionaires Bunker, the person said. Residents of the ultra-secure enclave include Jared Kushner and Ivanka Trump, Jeff Bezos, Carl Icahn and Tom Brady.With a net worth of about $240 billion, according to the Bloomberg Billionaires Index, Zuckerberg owns two homes in California — in Palo Alto and near Lake Tahoe — and others in Hawaii and Washington, DC. It was unclear ...

美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：山上 2月11日，据华尔街日报，Meta创办人扎克伯格及其妻子Priscilla Chan拟于美国迈阿密印第安溪置业， 或成为最新一位在加州计划课征财富税阴影下，将资产版图转向佛罗里达州的科技富豪。 据悉，扎克伯格夫妇拟于印第安溪购买一栋顶级海滨豪宅，作价介乎1.5亿至2亿美元，有望打破该区独 立屋最贵成交纪录。报道指，加州正推动一项公投，提议向拥有10亿美元以上的富豪征收一次性的 5%"亿万富豪税"，而佛罗里达州则未有相关税收。以朱克伯格约2400亿美元的身家计，税款约为120亿 美元。 ...

市场分化态势愈发明显，资金正从高估值、易被颠覆的板块流出，转向防御性板块或AI产业链核心受益标的。安硕扩展科技软 件ETF今年以来下跌20%，而范戴克半导体ETF上涨13%，英伟达、AMD等AI芯片股年内涨幅超25%，闪迪从西部数据分拆后一 年股价飙升1500%，卡特彼勒等受益于数据中心建设的企业股价也创下历史新高。 华尔街机构对AI相关标的的看法呈现分歧，并非全面看空。摩根大通策略团队认为，当前市场对AI颠覆软件行业的前景过度悲 观，建议投资者增加对高质量、抗AI颠覆能力强的软件股配置；而花旗则持审慎态度，认为软件板块的下跌是市场对AI颠覆的 终端价值重估，未来板块将进入高度个股分化阶段。CFRA研究机构科技分析师安杰洛·齐诺指出，能利用自有专有数据、开发 自身AI产品的软件公司，才有能力抵御冲击。 截至2月11日，AI50指数维持震荡走势，近三个月虽上涨7.88%，但近期波动明显加剧，反映市场情绪的分歧与摇摆。高盛、摩 根士丹利等机构仍在持续调整对AI相关公司的评级，对冲基金的做空与多头资金的布局形成鲜明对冲，被AI颠覆的风险与AI带 来的机遇并存，华尔街对"易被颠覆公司"的筛选仍在持续，资金流向与股价波 ...

Investment Rating - The report maintains a rating of "Outperform" for the new materials sector, indicating a positive outlook for investment opportunities in this industry [2]. Core Insights - The new materials sector has experienced a decline, with the new materials index dropping by 1.53%, outperforming the ChiNext index by 1.76%. Over the past five trading days, various sub-sectors showed mixed performance, with battery chemicals slightly increasing by 0.09% while semiconductor materials fell by 3.70% [3][17]. - Strong capital expenditure growth is observed in North America, particularly among major cloud service providers like Amazon AWS, Microsoft, Google, and Meta, with a combined capital expenditure exceeding $670 billion in 2026, representing a year-on-year growth of over 60%. This investment is expected to drive demand for AI servers and related materials [6]. Summary by Sections 1. Secondary Market Performance - The new materials sector has seen a decline, with the Shanghai Composite Index and ChiNext Index also experiencing negative movements. The new materials index's performance is highlighted as it has outperformed the ChiNext index [3][13]. 2. Industry Chain Data Tracking - Price tracking for various materials shows fluctuations, with amino acids like valine at 13,850 RMB/ton (-1.42%) and vitamins such as vitamin A at 60,500 RMB/ton (-1.63%). Prices for biodegradable plastics remain stable, indicating a steady market for these materials [4][12]. 3. Industry News - The report emphasizes the importance of AI infrastructure development, which is expected to enhance the demand for high-frequency and high-speed copper-clad laminates and related materials. Companies such as Shengquan Group and Dongcai Technology are highlighted for their potential in the resin sector, while Zhongcai Technology and Honghe Technology are noted for electronic fabrics [6]. 4. Investment Recommendations - The report suggests focusing on upstream material development opportunities, particularly in AI-related sectors, as the demand for advanced materials is anticipated to grow significantly due to the increasing need for AI server infrastructure [5][6].

视频里分析师指着柱状图讲： 昨天晚上刷YouTube时，正好刷到Bloomberg刚出的一个深度视频，标题是《Big Tech's $650 Billion Gamble》（科技巨头的6500亿豪赌）。 2026年，就亚马逊、谷歌、微软这几家，预计就要砸进去6500亿美金的资本支出（Capex）。 紧接着，他抛出一个特尴尬的结论：投入是指数级涨的，收入是线性涨的；如果不解决这个问题，2026 年的 AI 产业，很有可能撞上一个巨大的气穴。 就跟飞机似的，飞着飞着突然掉进真空里，那种失重的感觉，大家应该都能想象到。所以，看完这个视 频我认为，这不光是华尔街的焦虑，更是整个AI行业的过渡时刻。 咱们看看这6500亿美金是怎么来的，到底能烧出点啥？ Bloomberg视频里说的6500亿美金，是个挺微妙的数。我特意去翻了高盛的原始研报才发现，这数背后 是一种特别罕见的「倒挂」。 怎么理解这个倒挂？ 基建都跑到平流层了，应用还在慢慢爬坡。你看亚马逊、微软、谷歌、Meta这几家，2026年的资本支 出也差不多是这个数；这笔钱都花哪儿了？ 全用来买卡、建数据中心，甚至去抢电力资源了，这种投入力度，已经是「赌国运」级别的基 ...

AI is big business for big tech firms. But have any taken out too much debt to keep up with the competition?Last week, there was a flurry of earnings releases from "Big Tech" companies. Artificial intelligence is big business, and competition for many of them is stiff these days. The resulting spending spree, which has been coined "hyperscaling," is resulting in billions of dollars to buy semiconductor chips, build data centers, and develop the software to run AI.In a recent edition of the investment newspa ...

当下，美股第四季度财报季仍在进行，以谷歌、微软等为代表的科技巨头们已相继披露业绩。尽管营收与利润普遍录得增长，AI相关业务也实现增长， 但市场关注点却集体转向了这些巨头们为2026年制定的、规模远超预期的"天量"资本支出预算。 根据谷歌、微软、亚马逊和Meta披露的最新资本支出计划，四家公司均释放了深化AI军备竞赛的信号，在2026年的开支总额合计约6500亿美元(约合4.58 万亿元人民币)。《华尔街日报》指出，这一数额的资本开支接近日本2026年全年的支出预算，并超过德国(约合6230亿美元)和墨西哥(约合5095亿美元)的 财政预算。 在上述科技巨头们看来，AI需求依然强劲，随资本开支"水涨船高"的或是数万亿美元的潜在市场回报。然而，如此激进的"烧钱"计划显然令华尔街投资者 感到不安，市场对于当前人工智能叙事的态度正趋于保守与审慎。 重押云业务与AI基础设施 在上述四家巨头中，亚马逊成为本轮AI军备竞赛最激进的公司，预计2026年的资本支出将达2000亿美元，远超分析师1447亿美元的预估，较2025年约 1310亿美元的资本支出，同比增长超五成；谷歌母公司Alphabet紧随其后，预计2026年资本支 ...

上周，甲骨文也发行了价值250亿美元的债券，并成为2026年首家试水债务市场的大型科技公司。此外，据市场消 息，Meta也计划在今年进行大规模债券发行，以期加速推进在美国境内建设数据中心的计划。 最新的财报则预计，微软、谷歌、亚马逊、Meta和甲骨文等公司今年在AI基础设施方面支出的投入可能高达7000亿 美元。 当地时间2月10日，瑞银警告称，AI基础设施支出可能已接近峰值。瑞银首席投资办公室当天下调了美国科技板块评 级至中性。 在瑞银发出最新警告后，当天美股收盘，科技板块股价普遍下跌。谷歌股价下跌近1.8%，Meta、亚马逊等公司股价 均下跌近1%。 瑞银下调评级的举措发生在美国软件股经历了一周惨重的暴跌之后。投行杰富瑞分析师也在近期的一份报告中指 出，AI资本支出将面临放缓，这是目前科技行业投资面临最大的不利因素。 不过科技公司扩大AI资本支出的野心并未受到影响。谷歌已于周一发行了罕见的100年期的"世纪债券"，以支持AI基 础设施的扩张。根据IFR的数据，谷歌百年债券的认购额几乎是目标金额的十倍，收益率为 6.05%。 相关统计数据显示，过去3年里，科技巨头在AI基础设施方面的支出增长了超过4倍。而最 ...