美股表面繁荣背后隐藏着尴尬的结构性分化：标普500指数的涨势几乎完全依赖七大科技巨头，而其余 493只成分股表现远远落后。但华尔街策略师们认为，只要大型科技公司的盈利增长势头不减，就没有 理由与这一趋势对抗。 11月4日，据报道，彭博汇编的数据显示，"七巨头"（苹果、英伟达、微软、亚马逊、特斯拉、Meta、 Alphabet）科技公司第三季度盈利增长率预计达27%，约为此前预期的两倍，成为支撑市场的关键力 量。相比之下，剔除这七家公司后，标普500成分股的利润增幅从13%骤降至8.8%。 同时，据Jefferies数据显示，标普500等权重指数——反映基准指数中普通股票表现的指标——相对标普 500指数的折价已超过25%。但华尔街策略师普遍认为，只要大型科技公司的盈利机器继续运转，就没 有理由对抗这种趋势。 报道指出，尽管市场集中度引发泡沫隐忧，但投资者对人工智能技术的乐观情绪以及科技巨头持续强劲 的盈利表现，令多数华尔街人士选择继续押注少数赢家，而非等待市场广度改善。 七巨头盈利表现撑起整体市场 "七巨头"科技股的强劲财报表现成为当前市场集中式上涨的关键支撑。苹果和亚马逊等公司最近公布的 财报进一步加强了投 ...

新华财经北京11月4日电 综合新华社驻外记者报道：美国太平洋时间3日，微软公司宣布了其投资阿联 酋人工智能（AI）等项目的一些关键细节，投资总额达152亿美元。 上周微软发布的一份报告显示，阿联酋在AI人均利用率方面位居世界第一，有59.4%的人口使用生成式 AI，领先于第二名新加坡的58.6%。 微软日前还与阿布扎比国家石油公司签署协议，共同开发和部署AI应用，推动能源领域的智能化转 型。根据协议，微软将向阿布扎比国家石油公司提供AI工具和员工技能培训项目，双方还将探讨建立 联合创新生态系统，为能源行业开发具有变革性的智能解决方案。 （文章来源：新华社） 据微软介绍，其与阿联酋G42集团建立的合作伙伴关系取得关键性进展。按计划，从2023年到今年年 底，微软在阿联酋的投资和支出将超过73亿美元，包括对G42集团的15亿美元股权投资、对阿联酋AI和 云数据中心超过46亿美元的资本支出等；从2026年初到2029年底，将继续对阿联酋的相关项目投资超过 79亿美元。 ...

Group 1: Employment Issues - The rise of artificial intelligence is reducing job opportunities, particularly in entry-level positions, with job vacancies decreasing by approximately 30% since the launch of ChatGPT by OpenAI [2] - Amazon recently announced layoffs of 14,000 employees, primarily affecting middle management [2] Group 2: Profitability Concerns - The profitability issue surrounding AI was highlighted by Oracle's GPU cloud gross margin of 15%, which sparked discussions in overseas media [3] - Meta's significant stock drop has also reignited concerns regarding AI profitability [4] Group 3: AI Investment Returns - A recent survey by MIT revealed that despite companies investing between $30 billion to $40 billion in AI, a shocking 95% of them have not achieved any measurable returns [5] - Only 5% of AI systems successfully deployed in production environments, with the main barrier being the learning capability rather than infrastructure or talent [5] - Among companies that evaluated custom or vendor-sold AI systems, only 20% reached the pilot stage, and just 5% achieved production deployment that consistently creates business value [5] Group 4: Changing Perspectives on ROI - Technology leaders are beginning to shift their views on AI investment returns, suggesting that minor efficiency improvements are not a valid measure of ROI [6] - The emphasis is now on leveraging AI for significant innovation rather than merely enhancing productivity [6] Group 5: Depreciation and Profit Impact - A report calculated the return cycle for Microsoft's cloud H100, which has increased from 24 months to 36 months [11] - The impact of depreciation on profits is currently manageable, remaining below 30%, but is expected to exceed 40% starting in Q3 of next year [12] Group 6: Market Sentiment and Future Outlook - There is a growing awareness of potential leverage and early signs of a bubble, although risks have not yet materialized [14] - Profit margin pressures are anticipated to become more apparent by Q3 of next year, but the industry trend remains strong, particularly in AI [14]

整理 | 美股研究社 在这个快速 变 化的 时代， 人工 智能技术正以前所未有的速度发展，带来了广泛的机会 。 《AI日 报 》致力于挖掘和分析最新的AI概念股公司和市场趋势，为您提供深度的行 业 洞察和 价 值 分析。 A I 快 报 【 特斯拉10月欧洲销量再陷低谷 】 【"AI+国风"推动新型玩具出口订单大幅增长】 在全球玩具市场格局深刻变革的当下，中国玩具产业凭借人工智能（AI）技术赋能与国潮文化 创新，掀起一轮强劲的"出海"浪潮。记者了解到，以AI玩具、编程教育为代表的新型玩具出口 订单大幅增长，部分企业订单已排产至明年一季度，成为外贸出口中的一抹亮色。在"玩具之 都"广东汕头澄海，不少玩具企业的生产线正满负荷运转。 【全球市场占有率稳居第一，我国显示产业驶入发展快车道】 最新数据显示，我国显示面板、显示材料全球市场占有率均稳居全球第一，产值规模已占全球 一半。新型显示是承载影像信息的关键载体和人机交互的重要界面，被誉为数字经济的"眼 睛"，人工智能的"窗口"。研究显示，我国显示产业已驶入"AI+显示"发展快车道。中国电子信 息产业发展研究院发布的《中国新型显示产业高质量发展指数（2025）》指出， ...

Microsoft (MSFT) has seen some heavy selling in recent days but is holding nicely above the 50-day moving average. A graph on a white background AI-generated content may be incorrect. More News from Barchart Analysts maintain a positive outlook for MSFT stock with 41 Strong Buy ratings, 5 Moderate Buy ratings and 2 Hold ratings. A screenshot of a graph AI-generated content may be incorrect. MSFT BULL PUT SPREAD Today, we’re going to look at a bull put spread trade, but instead of using a regular month ...

AI发展的最大瓶颈，竟然不是算力？ 微软掌门人萨提亚·纳德拉在采访中再爆金句：现在最大的问题不是芯片，而是电力。 这句话一发酵，成了近期A股电网设备上涨的驱动力，今天电网设备成分股早盘一度冲高。 值得一提的是，全市场唯一的电网设备ETF(159326)在近20日里吸金超过5.27亿，最新规模创下历史新高。 电力，这个曾经被视为传统而稳定的行业，正因AI的算力需求而焕发新生。 01 又缺电了 周一A股缩量调整，截至收盘，上证指数跌0.41%，深证成指跌1.71%，创业板指跌1.96%，北证50跌2.45%。沪深京三市全天成交额19384亿元，较上日缩 量1945亿元。 板块题材上，福建、电网设备、银行、冰雪产业、影视院线、造纸板块涨幅居前；有色金属、PEEK材料、减肥药、风电设备、机器人、电池板块跌幅居 前。 近期两大主题——可控核聚变和AI持续发酵，带动电网设备板块上涨。今天神马电力盘中创新高，摩恩电气、中能电气、冠城新材涨停，思源电气涨超 5%，电网设备ETF(159326)一度涨超2.5%。 | 문을 | ਜਾਣ | 名称 | 涨跌幅\ | | --- | --- | --- | --- | | 1 | ...

We recently published Wall Street Can’t Keep up With These 10 Crushing Stocks; 6 at Fresh Record Highs. IREN Ltd. (NASDAQ:IREN) is one of the best-performing on Monday. IREN Ltd. soared to a new all-time high anew on Monday after securing $15.5 billion worth of new deals with technology giants Microsoft Corp. and Dell Technologies. At intra-day trading, the stock climbed to a new 52-week high of $75.73 before trimming gains to finish the day just up by 11.52 percent at $67.75 apiece. IREN Ltd. (IREN) Hi ...

The commitment to Azure underlines a key driver in Microsoft’s ongoing shift from software company to cloud services provider. Microsoft spent more than $34 billion in capital expenditures during its fiscal Q1, with $11.1 billion of that total going to expanding its data center footprint. Company CEO Satya Nadella has said that Microsoft plans to increase its AI capacity by 80% by the end of fiscal year 2026 and to double its data center footprint over the next two years.Under this new arrangement, Microsof ...

【导读】AI万亿赌局，马斯克们正越来越富，但人类在集体失业？Hinton最新末日警告，科技巨头不裁员，根本赚不到钱。 「这场AI万亿美元豪赌，只有裁员才能盈利」。 这是AI教父Hinton，最新发出的末日警告。 最近，Hinton在接受彭博采访时，直言不讳地预警：超级智能AI即将到来，它不仅会取代人类、引发大规模失业，甚至威胁人类生存。 科技巨头们正在亲手制造「外星入侵者」，却仍在沉迷于商业竞赛。 如今，AI的终极泡沫，近在眼前。 预计明年，微软、Meta、谷歌、亚马逊这四大巨头在AI领域支出高达4200亿美元（今年3600亿美元）。 然而，仅OpenAI就已签署了超1.4万亿美元的算力合同。这笔大单将硅谷AI巨头紧紧绑定，买GPU训模型再盈利。 真正坐拥这场AI盛宴，背后最大的赢家是——英伟达。 GTC 2025大会后，其市值一路狂飙至5万亿美元，Loop资本最新预测，未来有望突破8.5万亿美元。 主持人问及Hinton一个沉重又值得深思的问题：万亿美元投资能否在不摧毁就业的情况下获得回报？ Hinton回答简短有力，「要想赚钱，就必须取代人类劳动」。 这句话如同一记重锤，敲碎了沉醉在AI竞赛中的人们。在短 ...

Investment Rating - The report maintains a "Positive" investment rating for the communication industry [11]. Core Insights - In the 44th week of 2025, the communication sector experienced a decline of 3.77%, ranking 32nd among primary industries in the Yangtze River region. However, since the beginning of 2025, the sector has risen by 61.65%, ranking 2nd among primary industries [2][6]. - NVIDIA announced that it expects to ship approximately 20 million units of its Blackwell and Rubin series GPUs, raising its sales guidance for GPUs to over $500 billion for the next five quarters. The company also revealed several collaborations for computing power development [2][9]. - The financial performance of the four major cloud service providers in North America was strong, with continued increases in capital expenditures and accelerated global computing investments [2][8]. Summary by Sections Market Performance - The communication sector's performance in the 44th week of 2025 showed a decline of 3.77%, while it has increased by 61.65% since the start of the year [2][6]. - Among companies with a market capitalization above 8 billion, the top three gainers were Guodun Quantum (+38.4%), LianTe Technology (+20.7%), and Kesi Technology (+13.5%). The top three decliners were Kehua Data (-17.3%), Dekeli (-13.9%), and Huafeng Technology (-13.7%) [6]. NVIDIA's GPU Forecast - At GTC 2025, NVIDIA projected that the combined shipments of its Blackwell and Rubin series GPUs would reach around 20 million units, significantly higher than the 4 million units of the previous Hopper series. The company is also collaborating with Oracle and the U.S. Department of Energy to build supercomputing systems with a total computing power of approximately 2200 EFLOPS, expected to be operational in the first half of 2026 [7][9]. North American Cloud Providers' Financials - Google reported Q3 2025 revenue of $102.35 billion, a year-on-year increase of 16%, with cloud revenue up 34% to $15.16 billion. Capital expenditures were raised to $91-93 billion [8][24]. - Meta's Q3 2025 revenue was $51.24 billion, up 26% year-on-year, with capital expenditures adjusted to $70-72 billion [8][24]. - Microsoft's Q3 2025 revenue reached $77.67 billion, a year-on-year increase of 18%, with Azure services growing by 40% [8][24]. - Amazon's Q3 2025 revenue was $180.17 billion, up 13% year-on-year, with AWS revenue increasing by 20% [8][24]. Investment Recommendations - The report recommends several companies based on their sectors: - Telecom Operators: China Mobile, China Telecom, China Unicom - Optical Modules: Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication - Liquid Cooling: Yingweike - Hollow Core Fiber: Fenghuo Communication, Hengtong Optic-Electric - Domestic Computing: Runze Technology, Guanghuan New Network - AI Applications: Boshi Jie, Heertai - Satellite Applications: Huace Navigation, Haige Communication [9].