E s s e n t i a l s | 11 Dec 2025 20:04:39 ET │ 34 pages Global Hardware AI Glasses – the Next Fast-Growing Edge Device CITI'S TAKE AI glasses, with still-evolving technology, look set to become the next fast- growing AI edge device. We forecast AI smart-glass shipments of c.112mn by 2030E, pacing up at a 105% CAGR from 2024, and market revenues of US$40bn in 2030E, rising at a 112% CAGR. We expect EssilorLuxottica- Meta to retain leadership near-term but with a smaller market share of 31% in 2030E vs. 90%+ ...

扎克伯格的「元宇宙」执念终于向现实低头，Meta计划削减该部门人力，将资源全面倾斜至销量意外火爆的AI智能眼镜。在Reality Labs四年烧掉700亿美元后，伴 随着竞争对手的退潮，Meta决定不再死磕笨重的VR头显。为了打赢这场新的战役，扎克伯格甚至挖来了前苹果资深设计师，试图让可穿戴设备真正成为时尚单品。 文 ｜ 艾伦 来源｜ 新智元（ID：AI_era） 封面来源 ｜ IC photo 扎克伯格宏大的「元宇宙」愿景，正式宣告大败局。 据三位知情人士透露，Meta正在酝酿对其Reality Labs（现实实验室）旗下的元宇宙相关部门进行裁员。 这把「手术刀」最早可能在下个月落下，预计将波及该部门10%到30%的员工。 该部门主要负责VR头显以及基于VR的社交网络开发。 尽管具体的裁员人数仍在变动中，但这无疑是一个明确的信号。 需要厘清的是，Meta并没有打算彻底放弃建造元宇宙的梦想。 与其说是撤退，不如说是一次战略资源的「乾坤大挪移」：高管们计划将节省下来的资金，从单纯的VR领域，转移到目前势头更猛的AR眼镜和可穿戴设 备上。 从「头号玩家」到「时尚单品」 这一转变并非无迹可寻。 早在2021年，Me ...

Core Viewpoint - Mark Zuckerberg has declared 2023 as the "year of efficiency" for Meta Platforms, following significant workforce reductions and spending cuts [1] Company Summary - Meta Platforms has laid off 21,000 employees as part of its strategy to enhance efficiency [1] - The company is tightening its spending to align with its new focus on operational efficiency [1]

Core Viewpoint - Meta Platforms, Inc. is highlighted as a key AI stock for investors, with Piper Sandler maintaining an Overweight rating and a price target of $840.00, citing ad market tailwinds and undervalued fundamentals as driving factors [1] Group 1: Stock Performance and Market Position - Meta shares have experienced mid-single-digit gains over the past year, despite a 10% compression in multiples [2] - The firm's ad buyer survey indicates accelerating market growth leading into 2026, which is favorable for Meta due to its dominant role in social media advertising [2] - Piper Sandler projects a 20% year-over-year growth for Meta in 2026 [2] Group 2: Operational Concerns and Investments - Analysts at Piper Sandler believe concerns regarding Meta's operating and capital expenditures nearing peak levels are overstated [3] - Meta is actively expanding its advertising capabilities and investing significantly in artificial intelligence and the metaverse [4]

作者：信瀚 AI圈最戏剧性一幕，还是发生了。 你敢信？前一秒还在国会高喊"美国AI要领跑"的扎克伯格，后一秒就让自家千亿级大模型，偷偷给中 国AI"递拜师帖"。 最近，彭博社爆出猛料：硅谷巨头Meta砸了几百亿研发，号称要干翻GPT-5的"牛油果"大模型，居然 被爆"抄中国作业"，核心还用了阿里的通义千问来训练。 更离谱的是什么？没要授权！没打招呼！阿里自己都是看新闻才知道。 要知道两年前，Meta的Llama模型还是开源界的神，国内大模型但凡冒头，就被喷"套壳Llama""没自主 技术"。现在风水轮流转，昔日霸主转头偷用中国模型，前一秒骂别人"抄作业"，后一秒自己当"伸手 党"。这反转，比AI生成的短剧还荒诞！ 但最扎心的是，这事儿它合法。因为阿里千问是开源的，全球谁都能下，现在累计下载量早破7亿次。 可合法不代表合情理啊，Meta用着免费的中国开源模型，转头就把自己的"牛油果"做成闭源收费产 品。 从法律层面Meta没违规，但从伦理层面，这操作很硅谷：拿别人的开源成果，练自家闭源大模型。 一 而更让人唏嘘的是权力交替的现实。 这波操作有多打脸？ 咱们扒扒Meta的"黑历史"就懂了。 回顾Meta过去三年的 ...

Core Viewpoint - Meta Platforms is shifting its focus from the underperforming Metaverse to AI initiatives, which is seen as a positive move by analysts, potentially leading to a significant increase in share price if executed well [1][4][12]. Financial Performance and Projections - Meta's shares could trade closer to $900 per share this year if the company maintains cost discipline and AI continues to enhance business results, with a bullish case suggesting a rise to $1,000 per share by 2026 [1][3][12]. - Currently, Meta is trading between 20X and 30X forward earnings, and a re-rating closer to 30X could lead to higher share prices [3][9][11]. Strategic Shift - The recent acquisition of AI wearable company Limitless indicates a strategic pivot towards AI, reflecting a commitment to redirect resources from the Metaverse to more promising opportunities [1][4][13]. - Analysts have criticized Meta's previous heavy investments in the Metaverse, suggesting that the company has more potential in AI, which could drive better returns [5][10]. Market Reaction - Following the announcement of spending cuts on the Metaverse, Meta's stock experienced a positive reaction, indicating investor approval of the strategic shift [4][11]. - The market's perception of Meta has been affected by high operating costs, but the recent changes may help restore confidence [9][12].

Core Insights - Meta Platforms is experiencing strong financial performance while leveraging the artificial intelligence trend [1] - The company has a vast ecosystem with 3.54 billion daily active users, representing an 8% year-over-year increase [3] - The established user base and network effects contribute to long-term growth potential [4][8] User Base and Engagement - Meta's user base is significant, with potentially half of eligible adults worldwide engaging with its platforms daily [3] - The network effects enhance the value of the platform, making it less likely for users to leave [4] - AI-powered algorithms are increasing user engagement and improving ad ROI for marketers [7] Monetization Opportunities - Meta's ecosystem is attractive for advertisers and allows for new monetization avenues [5] - The launch of Threads, which has 150 million daily active users, exemplifies the company's ability to create new platforms within its ecosystem [5] - Facebook Marketplace is another strategic opportunity that benefits from Meta's existing large audience [6] Long-term Growth Potential - The established user base is crucial for driving long-term growth, with ample potential remaining [8] - The company's focus on AI is expected to further strengthen its business and user engagement [7]

Market Outlook - Wall Street is optimistic about the stock market heading into 2026, following record highs for the S&P 500 and Dow coinciding with a Federal Reserve interest rate cut [1] - The Fed's upward revision of GDP to 2.3% for 2026 is expected to lead to increased revenue, higher profit margins, and earnings growth, fueling bullish price targets [3] Analyst Predictions - Veteran strategist Ed Yardeni predicts the S&P 500 could reach 7,700, raising the probability of his "Roaring 2020s" scenario to 60% due to tax benefits and an AI-driven tech boom [4] - Oppenheimer has set a 2026 target for the S&P 500 at 8,100, attributing this to shifts in monetary and fiscal policy [4] - UBS strategists have a December 2026 target of 7,700, citing resilient economic growth, Fed rate cuts, and a boom in AI investment spending [5] Earnings Growth - Goldman Sachs analysts forecast S&P 500 earnings growth of over 12% in 2026, compared to a Street consensus of 14% [5] - The largest seven stocks in the index, including Nvidia, Apple, and Microsoft, account for about a quarter of the index's earnings, but Goldman expects broader participation in earnings growth [6] - Macro tailwinds from accelerating economic growth and a fading tariff drag on margins are anticipated to support an acceleration in earnings growth for the remaining stocks [6]

中经记者 曲忠芳 北京报道 人工智能在2025年以海啸般的力量席卷全球，无论各个行业领域，还是组织与个体，都被卷入到前所未 有的技术、资本、产业、应用、监管等加速度中。而临近2025年年末，"AI泡沫论"甚嚣尘上——火爆发 展的AI是否存在泡沫？AI泡沫会否破灭？来自投资界、学术界、产业界各路人士纷纷加入讨论中。 从全球科技竞争格局来看，AI已不仅是一项主流的技术，而是决定未来产业结构与市场格局的基础设 施。在这场革命中，被业界冠以"壮丽七巨头"（Magnificent Seven）统称的美股七大科技巨头——英伟 达、苹果、谷歌母公司Alphabet、亚马逊、脸书母公司Meta、特斯拉，无疑是关键且极具战略张力的力 量，它们从算力设施、大模型到硬件终端、生态战略不断加码下注，助推了AI的火爆态势。《中国经 营报》记者希望从战略定位、资本开支、商业化逻辑等多维度来解构2025年美股七大科技巨头的AI竞 赛，并试图较清晰地呈现科技巨头的AI战略布局与增长押注。 英伟达作为"卖铲子的人"，资本支出远低于其他几家巨头公司，但也呈现增长扩大的趋势。该公司在 2025财年（截至2025年1月31日）的资本支出金额约32亿 ...

【#微软CEO谈硅谷人才争夺战#，称不跟风Meta高薪挖人】#微软CEO称不跟风Meta高薪挖人# 苏莱曼表示，自己此前在 DeepMind 任职时对新员工的招聘就"非常挑剔"。如今在微软，他采取"渐进 式"招聘策略，优先考虑那些契合团队文化、具备所需技能的候选人，并果断淘汰不符合要求的人员。 在硅谷，顶尖 AI 人才的薪酬已达到数百万美元级别。今年 6 月，Meta 斥资 143 亿美元投资 Scale AI， 这笔交易被广泛视为对该公司首席执行官亚历山大・王（Alexandr Wang）的"并购式招 聘"（acquihire）。谷歌也采取了类似举措，以 24 亿美元收购了 AI 编程平台 Windsurf 的核心团队。 OpenAI 首席执行官萨姆・奥尔特曼（Sam Altman）曾透露，Meta 曾试图用 1 亿美元签约奖金挖走其员 工；对此，Meta 首席技术官安德鲁・博斯沃思（Andrew Bosworth）回应称，OpenAI 后来也曾提出类 似的报价。 微软人工智能部门首席执行官穆斯塔法・苏莱曼（Mustafa Suleyman）在彭博播客（Bloomberg Podcasts）中表示，他并不打 ...