以下文章来源于芯东西 ，作者ZeR0 芯东西 . 芯东西专注报道芯片、半导体产业创新，尤其是以芯片设计创新引领的计算新革命和国产替代浪潮；我们是一群追"芯"人，带你一起遨游"芯"辰大海。 来源 | 芯东西 芯东西1月27日报道，今日，微软宣布推出自研AI推理芯片 Maia 200 ，并称该芯片是"目前所有超大规模数据中心中性能最高的自研芯 片"，旨在显著提升AI token生成的经济效益。 Maia 200采用 台积电3nm 工艺制造，拥有超过 1400亿颗 晶体管，配备原生 FP8/FP4 张量核心，重新设计的内存子系统包含 216GB HBM3e （读写速度高达 7TB/s ）和 272MB片上SRAM ，以及能确保海量模型快速高效运行的数据传输引擎。 Maia 200专为使用低精度计算的最新模型而设计，每块芯片在FP4精度下可提供超过 10PFLOPS 的性能，在FP8精度下可提供超过 5PFLOPS 的性能，所有这些都控制在 750W 的SoC TDP范围内。 其FP4性能是亚马逊自研AI芯片AWS Trainium3的 3倍多 ，FP8性能 超过 了谷歌TPU v7。 | Peak specific ...

如果您希望可以时常见面，欢迎标星收藏哦~ 微软也加入了大型科技公司摆脱对英伟达依赖的浪潮，推出了自己的人工智能（AI）芯片。各大 科技公司都在开发定制芯片或寻求供应商多元化，以降低对英伟达的依赖——英伟达占据了AI芯 片市场90%的份额。然而，英伟达以其图形处理器（GPU）为代表，正通过构建AI工厂展开反 击 。 它 不 再 仅 仅 销 售 GPU ， 而 是 通 过 垂 直 整 合 芯 片 、 服 务 器 、 软 件 和 模 型 ， 转 型 为 一 家 " 全 栈 AI"基础设施公司，决心不放弃其在AI市场的领导地位。预计英伟达今年将成为台积电最大的客 户。尽管一年前中国市场曾因DeepSeek芯片强调性价比而引发"冲击"，但英伟达的股价和销售额 依然大幅增长。 加速摆脱英伟达 由于价格高昂、供应短缺以及封闭的生态系统（CUDA），大型科技公司正在加速摆脱对英伟达 GPU的依赖。 NVIDIA GPU的高昂成本是关键驱动因素。它们不仅价格昂贵，而且供应常常无法满足需求，导 致及时采购困难重重。此外，尽管NVIDIA芯片用途广泛，但它们并未针对特定公司的特定AI任务 进行优化。因此，大型科技公司正在开发专为自 ...

Financial markets are up as the first U.S. Federal Open Market Committee meeting of the year gets underway on Jan. 27 and 28. Investors are also closely watching multiple earnings reports from major tech companies. The Fed’s interest rate decision, which is widely expected to remain unchanged, is likely to have a notable impact on financial markets, including cryptocurrencies, according to Yahoo Finance. Interest rates affect borrowing costs for both companies and consumers. If the Fed signals lower ra ...

| MSFT 微软 | | | | --- | --- | --- | | 470.280 ↑ +4.330 +0.93% | | 收盘价 01/26 16:00 美东 | | 474.920 + 4.640 +0.99% | | 盘前价 01/27 04:44 美东 | | 二 24 4 3 8 0 日 | | ● 快捷交易 | | 最高价 474.250 | 开盘价 465.305 | 成交量 2929.12万 | | 最低价 462.000 | 昨收价 465.950 | 成交额 137.81亿 | | 平均价 470.477 | 市盈率 33.45 | 总市值 3.5万亿 (... | | 振 幅 2.63% | 市盈率(静) 34.48 | 总股本 74.32亿 | | 换手率 0.40% 市净率 9.626 | | 流通值 3.49万亿 | | 52周最高 553.502 委 比 -53.85% | | 流通股 74.23亿 | | 52周最低 342.951 量 比 0.89 | | 色 手 1股 | | 历史最高 553.502 股息TTM 3.320 | | | | 历史最低 6.166 股 ...

Bitcoin Rises on Optimism Over Upcoming Big Tech EarningsCONCLUDED[Stock Market News From Jan. 27, 2026: S&P 500 Hits Closing High]Last Updated:---15 hours ago# Bitcoin Rises on Optimism Over Upcoming Big Tech EarningsByRenae Dyer, Dow Jones NewswiresBitcoin was edging higher following gains in U.S. stocks overnight on optimism over upcoming U.S. megacap tech earnings.Investors are positioning ahead of results from Microsoft, Apple, Meta and Tesla this week."The spotlight now shifts to whether the AI-fuelle ...

Core Insights - The recent federal court ruling in September 2025, which determined that Alphabet would not have to sell its Chrome browser, has significantly boosted investor confidence in the company, allowing a renewed focus on its growing sales and profits [1] Group 1: Alphabet (GOOGL, GOOG) - Billionaire Philippe Laffont of Coatue Management has made substantial investments in Alphabet, acquiring 2,091,574 shares of Class C (GOOG) and increasing his stake in Class A (GOOGL) by 259%, adding 5,210,434 shares [2] - Alphabet's advertising channels remain a strong foundation, with Google holding approximately 90% of the global internet search market share and YouTube being the second-most-visited social media platform [8] - The company is well-positioned to capitalize on the AI revolution, with Google Cloud experiencing growth rates exceeding 30% due to the integration of generative AI solutions [9] - As of September, Alphabet had $98.5 billion in cash, cash equivalents, and marketable securities, generating over $112 billion in net cash from operating activities in the first nine months of 2025, allowing for aggressive investments in technology [10] Group 2: Broadcom (AVGO) - Laffont has consistently purchased shares of Broadcom throughout 2025, recognizing its potential in AI networking solutions and its role in connecting GPUs for enhanced computing capabilities [11] - Broadcom's application-specific integrated circuit (ASIC) technology is expected to drive foundational growth, while the company also plays a significant role in wireless chips for smartphones and IoT devices [12][13] Group 3: Microsoft (MSFT) - Laffont has increased his holdings in Microsoft, acquiring 663,073 shares in Q2 and 710,653 shares in Q3, totaling 4,643,050 shares as of September 30 [14] - Microsoft's Azure is the world's second-largest cloud infrastructure service platform, with a year-over-year growth rate nearing 40% driven by generative AI and large language model solutions [15] - The company ended September with $102 billion in cash and generated over $45 billion in net cash from operations in its fiscal first quarter, allowing for dividends, stock buybacks, and strategic acquisitions [17] - Microsoft's shares are currently valued at approximately 25 times forward-year earnings, representing a 16% discount compared to its average forward earnings multiple over the past five years [18]

With a market cap of $3.5 trillion, Microsoft Corporation (MSFT) is a global technology company that develops and supports a wide range of software, cloud services, devices, and solutions across productivity, business, cloud computing, and personal computing. It delivers products and services such as Microsoft 365, Azure, Windows, LinkedIn, Dynamics, and Xbox through OEMs, partners, and digital and retail channels worldwide. Shares of the Redmond, Washington-based company have lagged behind the broader m ...

Core Viewpoint - Aswath Damodaran warns AI investors about the unsustainable valuation of companies in the sector, particularly highlighting a disconnect between infrastructure spending and future earnings [1][2]. Group 1: AI Market Concerns - Damodaran describes the current AI market as exhibiting signs of a "Big Market Delusion," where excessive optimism leads to unrealistic revenue expectations [2]. - He estimates that the AI industry must generate "two, three, four trillion in revenues eventually" to justify the current capital investments in Large Language Models (LLMs) [2]. Group 2: Company-Specific Analysis - Nvidia has been sold off by Damodaran due to its stock being "priced for perfection," indicating that it requires too many favorable conditions to break even [4]. - Despite Nvidia's strong position in AI infrastructure, its current valuation offers no margin for error, prompting a staggered exit from the stock over four years [4]. - In contrast, Microsoft is viewed as a more stable investment, with its cloud business seen as essential and more plausible in justifying its valuation [5]. Group 3: Performance Comparison - As of 2026, Microsoft shares have declined by 0.56% year-to-date, with a 8.24% drop over the last six months and 8.22% over the past year [7]. - Nvidia's stock is down 1.26% year-to-date but has seen a 5.50% increase over six months and a significant 57.46% rise over the year [7]. - Benzinga's Edge Stock Rankings indicate that Microsoft has a weaker price trend compared to Nvidia, which maintains a stronger price trend across all time frames [7][8].

Group 1 - The US stock market experienced an increase driven by optimism surrounding the upcoming earnings reports of major tech companies such as Microsoft, Apple, Meta, and Tesla [1] - Investors are positioning themselves ahead of the earnings announcements from these companies this week [1] - The focus is shifting to whether the AI-driven market rally can maintain its momentum [1] Group 2 - The Federal Reserve's policy decision on Wednesday is a key focus for the week, with expectations that interest rates will remain unchanged [1] - The market is looking for any clues regarding future expectations for interest rate cuts [1] - Bitcoin saw a slight increase of 0.3%, reaching $88,250 [1]

Core Viewpoint - Microsoft is expected to report strong fiscal Q2 2026 results, driven by AI adoption and robust demand across its cloud and productivity segments, despite a premium valuation [2][22]. Financial Performance Expectations - The Zacks Consensus Estimate for Microsoft’s revenues is $80.23 billion, reflecting a 15.22% year-over-year growth [2]. - Earnings per share are projected at $3.88, indicating a 20.12% increase compared to the previous year [2]. - Microsoft has a history of earnings surprises, with an average surprise of 8.53% over the last four quarters [3]. Factors Influencing Results - Accelerated adoption of AI agents and strong enterprise demand are expected to support the upcoming results [5]. - The Productivity and Business Processes segment is projected to generate revenues between $33.3 billion and $33.6 billion, with a year-over-year growth estimate of 13.8% [6]. - The Intelligent Cloud segment is anticipated to achieve revenues between $30.9 billion and $31.2 billion, reflecting a growth of 25% to 26% [12]. Product and Service Developments - The Microsoft Ignite 2025 conference introduced significant advancements in AI, including Work IQ and Agent 365, enhancing Microsoft’s AI strategy [7][13]. - The bundling of Microsoft Security Copilot with Microsoft 365 E5 licenses adds value for enterprise customers [9]. - The launch of Microsoft 365 Copilot Business targets small and medium businesses, potentially boosting year-end sales [10]. Market Position and Competitive Landscape - Microsoft’s shares have declined 7.9% over the past six months, contrasting with the broader sector's growth of 15.8% [21]. - Despite premium valuation, Microsoft’s strong positioning in enterprise AI transformation justifies current multiples [22]. - The company’s integrated ecosystem across productivity, cloud infrastructure, AI tools, and security capabilities creates a competitive moat [22]. Conclusion - Microsoft is positioned for sustained growth, with expected strong performance in fiscal Q2 2026 driven by AI leadership and robust enterprise demand [23].