智通财经记者 | 宋佳楠 微软最近一年多来进行了多轮裁员。今年7月份，微软宣布裁员约9000人，此举将影响近4%的全球员工，涉及不同的团 队、地域和经验水平。微软发言人当时表示，将继续实施必要的组织变革，为公司和团队在充满活力的市场中取得成功 做好最充分的准备。 在此之前，微软于5月裁减了约6000个职位，1月裁减2000个职位。自今年年初以来，微软已累计裁减超过7%的全球员 工，员工总数降至21.9万人。 但这并不影响微软对AI领域大举投资，微软高管也多次在公开场合强调AI的重要性。 "如今，任何规划、任何执行，都始于AI，人们要用AI做研究、思考，并与同事分享成果，诸如此类。"纳德拉说。 据央视财经报道，美国微软公司首席执行官纳德拉近日公开表示，公司可能在未来一年内重启招聘，但前提是现有员工 必须学会与人工智能协作的新工作模式。 纳德拉在最新的一次访谈中透露，在考虑招聘之前，首先要对现有员工的工作方式进行彻底变革。他将这一过程概括 为"忘却"和"重新学习"。 具体来说，"忘却"指的是淘汰低效的旧习惯和思维模式，比如一些重复性的任务将交给AI工具来完成，而"重新学习"则 是掌握与AI协作的新技能。比如，员工 ...

Technology giant Microsoft (NASDAQ: MSFT) continues to reward investors through regular dividend payments, with the company setting December 11, 2025, as the next payout date.For the quarterly payment, Microsoft will issue a $0.91 per share dividend to shareholders of record as of November 20, 2025. At this rate, investors holding 100 shares of Microsoft will earn $91 in dividend income for the quarter, or $364 annually.This latest dividend represents a 9.6% increase from the previous payout of $0.83 per sh ...

以下文章来源于融中财经 ，作者李冰之 融中财经 . 中国领先的股权投资与产业投资媒体平台。聚焦报道中国新经济发展和创新投资全产业链。通过全媒体 资讯平台、品牌活动、研究服务、专家咨询、投资顾问等业务，为政府、企业、投资机构提供一站式专 业服务。 一荣俱荣，一损俱损。 来源：融中财经 作者：李冰之 编辑：吾人 10 月 28 日， OpenAI 正式官宣完成资本结构重组，孙正义的软银（ SoftBank ）主导豪掷 约 410 亿美元（约 2900 亿元人民币）、押注 AI 未来的剧情浮出水面。 不久前， 2025 年夏日的一场股东大会上，孙正义一扫前几年投资失意的阴霾，侃侃而谈他的 最新野心：在未来十年引领全球 " 超级人工智能（ ASI ） " 时代。这位软银掌门人向股东描 绘了一幅雄心勃勃的蓝图 —— 软银不再满足于做旁观的金主，而是要亲自下场，成为 AI 产 业的 " 组织者 " 。他仿佛又回到了当年投资阿里巴巴、豪取互联网时代红利的巅峰时刻。 演讲期间，孙正义反复提到了一个名字： OpenAI 。他斩钉截铁地表示， OpenAI 终将登陆 资本市场， IPO 只是时间问题。 这位投资教父早已悄然在下一 ...

Core Insights - Ernst & Young (EY) China won the "Innovation Breakthrough Award" at Microsoft's "Partner Enterprise Intelligent Agent Innovation Competition" for its customer feedback analysis intelligent agent solution, which stands out for its unique AI operational approach and customer experience design [1] - The solution represents a benchmark practice in reconstructing enterprise service models and unlocking data asset value through intelligent agent technology [1] - EY aims to deepen its collaboration with Microsoft in the Chinese market, focusing on enterprise-level AI applications, intelligent agent construction, and trustworthy AI to drive digital transformation for businesses [1] Group 1: Customer Feedback Analysis Intelligent Agent - The deployment of AI agents at scale faces challenges such as low usage rates and slow iteration due to ineffective feedback analysis and insufficient manual analysis efficiency [2] - EY's intelligent agent supports universal, efficient, and flexible feedback analysis by integrating external feedback collection tools, providing deeper insights [2] - The innovative solution offers personalized feedback analysis reports based on user preferences, facilitating autonomous analysis and supporting efficient iteration of intelligent agents [2] Group 2: Comprehensive AI Consulting Services - EY provides a full range of AI consulting services from strategy formulation to implementation, helping enterprises achieve intelligent transformation [6] - The company builds a robust AI governance and operational framework, ensuring the reliability, safety, and ethical compliance of AI systems through standardized processes and compliance mechanisms [7] - EY offers end-to-end AI technology implementation services, covering demand analysis, data preparation, model development, system integration, testing, and continuous optimization [8] - Customized AI organizational transformation plans and capability enhancement programs are provided to improve employee AI skills and promote a data-driven and intelligent organizational culture [9]

Group 1 - The computer index has outperformed the CSI 300 index, with a year-to-date increase of 25.12% as of October 31, 2025, ranking ninth among all primary industries [3][10] - Fund holdings in the computer sector remain low, with a percentage of 2.92% as of September 30, 2025, indicating a stable but historically low level of investment [3][19] - The computer sector has shown signs of performance recovery, with a median revenue growth of 3.10% and a net profit growth of 3.93% year-on-year for the first three quarters of 2025 [3][15] Group 2 - Two core trends are emphasized: rapid advancements in AI and the acceleration of domestic security initiatives [4] - AI innovation is ongoing, with significant developments in model capabilities, cost reductions, and the emergence of Chinese open-source models like Deepseek and Qwen gaining global recognition [4][27] - The domestic software and hardware sectors are entering a "usable" phase, with policies promoting technological self-reliance leading to a golden development period for domestic computing power and AI chips [4][99] Group 3 - Investment recommendations include companies benefiting from AI applications such as Kingsoft Office, Hohhot Information, and Dingjie Zhizhi, among others [5] - For AI computing power, recommended companies include Haiguang Information, Sugon, and Inspur Information, with beneficiaries like Cambricon and Jingjia Micro [5] - In the context of domestic innovation, companies like Dameng Data and Taiji Co., Ltd. are highlighted as key players in the software and hardware sectors [5]

Investment Rating - The report maintains an "Outperform" rating for the communication industry [5] Core Viewpoints - The communication industry is experiencing robust growth driven by AI investments, particularly in the optical communication sector, which has shown significant profit increases [2][4] - The overall revenue and net profit for the communication industry (excluding operators) grew by 19.57% and 33.69% year-on-year in the first three quarters of 2025, respectively [2][42] - The report highlights a positive outlook for AI infrastructure, with recommendations to focus on optical devices, communication equipment, and liquid cooling technologies [4] Summary by Sections Market Performance - In October, the communication sector index fell by 0.45%, aligning closely with the broader market performance, ranking 20th among 31 primary industries [12][17] - The average PE ratio for the communication sector was 23.2, indicating a recovery from historical lows [17][22] Fund Holdings Analysis - As of Q3 2025, the market value of funds heavily invested in the communication sector reached 288.6 billion yuan, accounting for 7.14% of total fund holdings, with a 3.2 percentage point increase from the previous quarter [30][34] - The concentration of fund holdings in the top ten communication stocks increased, with significant preferences for optical modules and communication devices [35][40] Financial Performance - In Q3 2025, non-operator communication companies reported total revenues of 185.1 billion yuan, a 19.47% increase year-on-year, and net profits of 16.7 billion yuan, up 47.4% [2][42] - The optical module sector led revenue growth with a 63.5% increase, while profit growth was particularly strong in optical modules and AI-driven devices [43][51] Company-Specific Insights - Major companies like Zhongji Xuchuang and Xinyi Sheng reported substantial revenue and profit increases, benefiting from the growing demand for AI-related products [51][58] - The three major telecom operators showed slower growth, with net profit increases outpacing revenue growth, indicating a shift towards digital and innovative business models [49][58]

硬·AI 这不仅是科技巨头间的算力军备竞赛，更对美国的电力基础设施构成了前所未有的挑战。激增的电力需求 正撞上美国现有电网的"电力墙"。电网容量不足、审批延迟和供应限制，正迫使这些科技巨头采取"自备电 力"（Bring-Your-Own-Power）策略。 据巴克莱研究，美国正在规划或建设的数据中心项目总容量超过45吉瓦，预计总投资额将超过2.5万亿美元，OpenAI、 亚马逊、Meta、微软、xAI等超大规模云厂商是主要参与者。巨额投资背后是复杂的融资结构，除了科技巨头自身的资本 支出，私募股权公司和专业基础设施基金扮演了关键角色。 01 巨头领衔： Stargate、超大规模厂商与xAI主导建设 根据巴克莱的追踪，少数几家科技巨头是这45GW项目建设狂潮的核心。 作者 | 龙 玥 编辑 | 硬 AI 一场由人工智能驱动的基建竞赛正在美国全面展开。 据追风交易台消息，巴克莱10月31日的研报显示，美国目前已规划的大型数据中心项目总容量超过45吉 瓦（GW），这股建设热潮预计将吸引超过2.5万亿美元的投资。 报告明确指出，这轮扩张的主要推手是OpenAI的Stargate项目、亚马逊、Meta、微软等超大规模 ...

来源：滚动播报 美股科技"七姐妹"盘前多数上涨，Meta涨1%，英伟达涨0.7%，亚马逊涨0.3%，特斯拉涨0.2%，谷歌A 涨0.1%，微软、苹果持平。 ...

After a long wait, investors got some clarity on Microsoft's relationship with OpenAI.Microsoft (MSFT 1.45%) began investing in OpenAI in 2019, long before ChatGPT was launched. For years, it was unclear what Microsoft actually owned, how much it had invested in OpenAI, or what that stake was worth. Microsoft said in a statement in 2023 that it doesn't own any portion of OpenAI, but it is entitled to a share of profit distributions. OpenAI had an unusual corporate structure. It was founded as a non-profit a ...

Market Overview - The global accounting software market was valued at USD 15.23 Billion in 2025 and is projected to reach USD 29.38 Billion by 2033, growing at a CAGR of 8.60% from 2026 to 2033 [1][14] - The U.S. accounting software market size is expected to grow from USD 3.84 Billion in 2025 to USD 7.19 Billion by 2033, with a CAGR of 8.21% during the same period [2][14] Growth Drivers - The primary driver for the growth of the accounting software market is the increasing adoption of cloud-based solutions that provide real-time financial tracking, accessibility across devices, and cost-effectiveness for businesses of all sizes [1] - In the U.S., factors such as widespread cloud usage, AI-driven automation, and integration with enterprise systems are significantly contributing to market growth [2] Segmentation Analysis - By Component: In 2025, software accounted for 70.24% of the market share, while services are the fastest-growing segment with a CAGR of 10.04% [3] - By Enterprise Size: Large enterprises held the largest share at 64.06%, while small and medium enterprises (SMEs) are the fastest-growing segment with a CAGR of 11.24% [4][6] - By Type: The ERP segment led the market with a share of 42.50%, while custom accounting software is the fastest-growing segment with a CAGR of 10.14% [7] - By End-Use Industry: The BFSI segment dominated with a share of 28.64%, while IT & Telecommunication is the fastest-growing segment with a CAGR of 11.84% [8] Regional Analysis - North America held the largest share of the accounting software market at 34.96% in 2025, driven by higher digital adoption and demand for cloud and AI-enabled functions [9] - The Asia Pacific region is expected to grow at the fastest rate with a predicted CAGR of 9.95%, attributed to increased digitalization and higher adoption rates among SMEs [10] Key Players - Major companies in the accounting software market include Intuit Inc., Microsoft Corporation, Oracle Corporation, SAP SE, and The Sage Group plc among others [11][13] Recent Developments - In July 2025, Intuit Inc. launched Agentic AI experiences to enhance financial management capabilities for mid-market businesses [16] - In March 2025, Oracle introduced AI Agent Studio for Fusion Applications, aimed at creating and managing AI agents across enterprises [16]