Microsoft - Microsoft’s stock decline is attributed to slowing revenue growth from its Azure cloud platform and concerns over backlog concentration, particularly its reliance on a significant deal with OpenAI [1][2] - The company’s remaining performance obligations, or backlog, is currently $625 billion, more than double from a year ago, with approximately 45% tied to OpenAI [2] - Despite these concerns, analysts believe Microsoft can monetize AI effectively due to its diverse business segments, including applications, security, and infrastructure [3] - Microsoft reported $81.3 billion in revenue for its fiscal second quarter, with adjusted earnings per share of $4.14, exceeding analyst expectations [21] - Intelligent Cloud revenue, which includes Azure, reached $32.9 billion, surpassing the consensus estimate of $32.39 billion [21] - Capital expenditures for Microsoft were $37.5 billion, higher than the expected $34.3 billion, with a significant portion allocated to short-lived assets like GPUs and CPUs [18] Meta - Meta's anticipated capital expenditures for 2026 are projected to be between $115 billion and $135 billion, significantly higher than last year's $72.22 billion and above analysts' expectations of $110 billion [13][14] - The increase in spending is primarily driven by investments in AI initiatives, particularly the Meta Superintelligence Labs [14] - Meta reported fourth-quarter earnings of $8.88 per share, with a 24% year-over-year revenue increase to a record $59.89 billion, driven by a surge in ad revenues [15] - The company expects first-quarter revenue between $53.5 billion and $56.5 billion, exceeding analyst projections [15] Tesla - Tesla's stock rose after reporting quarterly revenue of $25.71 billion, surpassing the consensus expectation of $25.12 billion, with net income at 60 cents per share [17] - The company did not provide a detailed outlook for vehicle sales, focusing instead on maximizing factory capacity utilization [12] - Tesla confirmed plans to unveil a new Optimus robot in the first quarter of 2026, with production expected to start in the same year [10]

On Facebook, Li said video time grew double digits year-over-year in the U.S. and that fourth-quarter optimizations produced a 7% lift in views of organic feed and video posts. She called it the largest quarterly revenue impact from Facebook product launches in the past two years. Li also said Meta increased the “freshness and originality” of content recommendations, including surfacing more same-day Reels on Facebook, and noted that 75% of recommendations on Instagram in the U.S. now come from original pos ...

Tesla's fourth quarter real, they're just crossing the wire. Let's get those numbers. Tesla Q4 just EPS50s.It looks like consensus was closer to 45 cents. So, we got a beat there. Uh Q4 revenue clocking in at 24.90% billion.Estimate was 25.11% billion. Uh Q4 gross margins, there it is, 20.1%, the estimate was 17.1%. Q4 free cash flow 1.42% 42 billion was closer to 1.59% billion.Let's get your take on this, Adam, because this is another one you own and the stock's popping about 4%. >> Love it. As it should.U ...

Core Viewpoint - The article emphasizes the importance of identifying strong businesses at reasonable prices for long-term investment, while also exploring trend-following strategies and opportunities in technology and crypto sectors [1]. Group 1 - The company has a long-term investment strategy focused on identifying great businesses [1]. - There is a slight bias towards technology companies, but the company maintains a broad investment perspective [1]. - The investment approach includes seeking value beyond the U.S. market [1].

Core Viewpoint - Meta Platforms Inc. is significantly increasing its investment in artificial intelligence (AI) for 2026, with Wall Street showing support for this strategy [1][3]. Financial Performance - In its fourth-quarter earnings report, Meta exceeded expectations on both revenue and earnings, reporting a 24% year-over-year revenue growth driven by online advertising [2][3]. - The company plans to allocate between $115 billion and $135 billion for AI-related capital expenditures in 2026, nearly double the amount spent in the previous year [2]. AI Investment Strategy - CEO Mark Zuckerberg emphasized the importance of investing in infrastructure to develop advanced AI models and deliver personal super intelligence globally [4]. - Meta's finance chief, Susan Li, noted that the company is "capacity constrained," indicating a need for more computing power to enhance its advertising business and support AI development [5]. Future AI Developments - Zuckerberg stated that 2026 will be pivotal for AI, with expectations for new product rollouts throughout the year [6][7]. - The company has made a significant investment of $14.3 billion in Scale AI, bringing in key talent to lead its AI initiatives [7]. AI Model Development - Zuckerberg mentioned that the first models developed are expected to demonstrate a rapid improvement trajectory, with ongoing releases planned throughout the year [8]. - He highlighted the necessity for Meta to develop its own AI foundation model to maintain control over its technological future and not rely on external developments [8]. Revenue Dependency - Despite the focus on AI, online advertising remains the primary revenue source for Meta, providing substantial cash flow that allows the company to pursue its AI ambitions [8].

智通财经获悉，Meta Platforms(META.US)于美东时间1月28日公布了2025财年第四季度及全年财报，各 项核心指标均显著超越华尔街此前预期。财报显示，受益于AI驱动的广告效率提升，Meta该季度实现 营收598.9亿美元，同比大幅增长24%;每股收益(EPS)达到8.88美元，优于市场一致预期的8.21美元。 2025年全年营收规模首次突破2000亿美元大关，达到 2009.7 亿美元。该公司2025 年全年资本支出高达 722 亿美元。 核心业务方面，Meta旗下应用家族(Family of Apps)在该季度展现出强劲的用户粘性。每日活跃人数 (DAP)攀升至35.8亿，同比增长7%，而AI赋能的广告推荐算法使得广告展示量同比增长18%，单位价格 也逆势上调了6%。 Meta首席执行官马克·扎克伯格在业绩会上强调，该公司正在迈向"个人超智能化"时代，通过将生成式 AI深度整合至广告系统与穿戴设备，Meta已成功将技术投入转化为实际的营收增长动力。 长期以来，投资者一直担心 Meta 的业务能否从那等规模的投资中获得实质性收益。彭博情报分析师曼 迪普·辛格在上周的一份报告中称："与前沿的大 ...

点击输入图片描述（最多30字） 点击输入图片描述（最多30字） 【鸣鸣很忙上市大涨88%】中国最大的休闲食品饮料连锁零售商——湖南鸣鸣很忙商业连锁股份有限公司在港交所主板挂 牌上市，开盘大涨88.08%，截至收盘，涨幅回落至69.06%，报400港元/股，总市值达862.04亿港元。鸣鸣很忙此次全球发 售1410.1万股H股，公开发售阶段认购倍数超过1500倍，8家基石投资者合计认购15亿港元，包括腾讯、淡马锡与贝莱德 等。公司预计净筹资30亿港元以上，发行市值约500亿港元。鸣鸣很忙旗下拥有零食很忙、赵一鸣零食两大品牌，最新数据 显示，截至2025年11月30日，鸣鸣很忙门店数达21041家。（更多内容，点击查看《两位85后卖零食，开店两万家，身价均 超200亿港元，鸣鸣很忙刚刚IPO》）（中国基金报） 点击输入图片描述（最多30字） 【英伟达员工晒年会最牛年终奖：黄仁勋亲笔签名皮衣】近日，英伟达CEO黄仁勋陆续到访上海、北京、深圳，分别参加 了三地分公司举办的新年活动。1月27日，有网友在社交媒体晒出一件黄仁勋亲笔签名的皮衣。该网友表示，自己本来想签 在胸前，结果黄仁勋直接把他翻个身按住并称"Don't ...

AI正在重塑人机交互范式——用户从搜索关键词转向直接向聊天框提问。据Gartner预测，到2026年，25%的在线搜索将通 过AI聊天机器人完成。面对资本市场的回报压力，AI厂商亟需证明其商业价值，广告成为最直接的变现路径。 2026年1月，谷歌和OpenAI相继宣布，将在其人工智能工具中推送广告，并在一定范围内开始试水。Meta早在2025年10月 已经公开表示，用户与Meta AI的互动将很快被用来投放个性化广告，并据此修改了隐私协议。 然而，广告的性质却与AI的形象和承诺具有结构性冲突。一个被认为可以超越人类偏见、高效获取信息的"超级大脑"，突 然预装了"推销员"指令，客户将感受到某种不适，甚至是"背叛"。这就像你本来想跟一位专家请教知识，甚至期待一次顿 悟时刻，结果却被套路，买了一款专家能从中抽成的产品。现代人并不惧怕形形色色的营销和广告，但在"求知"中被推 销，却可能严重侵蚀用户对AI刚刚建立起的信任。 更重要的是，广告是否和如何植入AI，将成为各路厂商历史性选择的一个岔路口——AI产品的本质和终极价值是什么？将 广告信息融入大模型之中，究竟是系统性升级还是降级？它对人类生活是有益还是毒害？ 一、谷 ...

周三盘后，Meta、微软和特斯拉发布最新业绩。 新年以来，随着投资者试图判断人工智能的应用将如何颠覆此前龙头企业的商业模式，大盘科技股、软 件股与芯片股内部的分化态势正持续加剧。因此这些热门赛道公司的业绩，特别是资本开支状况受到了 广泛关注。 按照日程安排，苹果周四将披露最新业绩。 Meta公布利好营收预测，盘后涨逾7% 脸书母公司Meta盘后涨逾7%，超市场预期的销售额业绩指引提振市场情绪。公司第四财季营收598.9亿 美元，同比增长24%，市场预期 585.9 亿美元。调整后每股收益EPS 8.88 美元，预期8.23美元。 Meta预计一季度营收将在535亿至565亿美元区间，高于分析师514.1亿美元的预期值。 微软盘后股价跌近7%。微软智能云业务板块（含 Azure 云基础设施）营收达329.1亿美元，同比增长近 29%，略好于市场预期，不过Azure 云服务及其他云业务营收同比增长39%，而该业务在财年第一季度 的同比增速为40%。生产力和商业流程业务板块营收341.2亿美元，同比增长约16%，个人计算业务板块 营收142.5亿美元，同比下跌约3%。 截至本财年末，微软的商业剩余履约义务金额达62 ...

大家早上好！这里是今天的早报，每天早上，我都会在这里跟你聊聊昨夜今晨发生了哪些大事儿。 昨夜今晨 【美联储宣布维持基准利率不变】 当地时间1月28日，美联储最新的联邦公开市场委员会（FOMC）货币政策会议纪要显示，美联储决定将联邦 基金利率目标区间继续维持在3.5%至3.75%之间。 会议纪要显示，现有指标表明，就业增长仍处于低位，失业率已显现出趋于稳定的迹象。通胀水平仍处于较高 水平。委员会致力于实现最大就业和长期通胀率达到2%的目标。经济前景的不确定性仍然很高。委员会密切 关注其双重使命面临的风险。为支持其目标，美联储决定将联邦基金利率目标区间继续维持在3.5%至3.75%之 间。 具体表决细节显示，美联储以10票赞成、2票反对的结果，决定将基准利率维持在3.5%至3.75%区间。美联储 理事沃勒以及米兰投下反对票，主张降息25个基点。 在此次利率政策出台前，市场普遍预期美联储将在本周政策会议上维持利率不变，此前该机构已在2025下半年 连续三次降息。 【微软、特斯拉、META公布最新"成绩单"】 微软公司第二财季营收812.7亿美元，预估803.1亿美元；第二季度智能云业务营收329.1亿美元，预估32 ...