微软公司在28日盘后发布的数据显示，该公司在2025年第四季度营业收入和每股盈利超出预期，但由于该季度云服务业务增长放缓并预期2026年一季度经 营利润率表现疲软，微软公司股价29日大幅下跌9.99%，并打压市场人气。 美国Sage顾问服务公司负责研究的执行董事罗伯•威廉姆斯（Rob Williams）表示，人工智能已经变得像一把双刃剑。人工智能对增长和支出带来贡献，并 让估值处于当前的水平。现在，这方面有更多的疑问，因而正变得更难继续带来利好。 转自：新华财经 新华财经纽约1月29日电（记者刘亚南）由于微软等权重科技股大幅下跌拖累，纽约股市三大股指29日低开低走，早盘显著走低，随后跌幅收窄，尾盘有 所拉升，收盘时纽约股市三大股指涨跌不一。 截至当天收盘，道琼斯工业平均指数比前一交易日上涨55.96点，收于49071.56点，涨幅为0.11%；标准普尔500种股票指数下跌9.02点，收于6969.01点， 跌幅为0.13%；纳斯达克综合指数下跌172.33点，收于23685.12点，跌幅为0.72%。 板块方面，标普500指数十一大板块七涨四跌。通信服务板块和房地产板块分别以2.92%和1.42%的涨幅领涨， ...

AI startup Perplexity signed a $750 million deal with Microsoft Corp. to use its Azure cloud service, spreading its business beyond longtime cloud partner Amazon.com Inc.The three-year commitment will let Perplexity deploy AI models through Microsoft’s Foundry service, including those made by OpenAI, Anthropic and xAI, according to people familiar with the deal, who requested anonymity to discuss a private matter.“We are excited to partner with Microsoft for access to frontier models from X, OpenAI and Ant ...

Group 1 - The core viewpoint of the article emphasizes that the China Railway Group has declared the 12306 platform as the only official ticket sales channel, stating that it has not partnered with any third-party platforms and will enhance its system to combat ticket scalping [2][3] - The China Railway Group's passenger department director, Zhu Wenzhong, highlighted the negative impact of third-party platforms on the stability of the 12306 system and announced plans to optimize the risk control system for effective identification [3] - The railway authority is focusing on four key areas for ticket sales organization: addressing the needs of students, workers, and the elderly; introducing a limited-time free refund policy for erroneous purchases; continuously improving ticket sales strategies; and ensuring the stable operation of the 12306 system [5] Group 2 - The article mentions that the 2026 Spring Festival travel period is expected to see a record 9.5 billion person-times of cross-regional movement, with self-driving travel being the main mode of transport, accounting for about 80% [6] - The article also notes that the total passenger volume for railways and civil aviation is projected to reach 540 million and 95 million respectively during the Spring Festival travel period, with both figures expected to exceed historical peaks [6]

周四（1月29日），微软暴跌拖累美股早盘走低，但三大指数盘中持续缩小跌幅，最终道指收盘转涨。 截至收盘，标普500指数跌0.13%，报6969.01点；纳斯达克综合指数跌0.72%，报23685.12点。盘中，两只指数分别一度跌1.5%和 2.6%。 | 名称 | | 局新价 | 淵味顏 | 涨跌幅 | | --- | --- | --- | --- | --- | | 道現期指数 | 0 | 49071.56 | +55.96 | 0.11% | | 标普500指数 | | 6969.01 | -9.02 | -0.13% | | 纳斯达克综合指数 | | 23685.12 | -172.33 | -0.72% | 道琼斯指数涨0.11%，报49071.56点，盘中一度跌0.85%。30只成分股中，22家上涨8家下跌，IBM、霍尼韦尔涨近5%，弥补了微软跌约 10%的拖累。 前一交易日，微软发布的业绩报告显示，公司云业务增速从40%放缓至39%；毛利率约为68%，降至三年来最低。微软周四收跌9.99%， 盘中一度跌逾12%。 "但现在，人们对它提出了更多疑问，它越来越难以持续带来利好消息。"Williams ...

Group 1 - The State Council issued a work plan to optimize and expand service supply, aiming to enhance service consumption and support high-quality economic development [2] - The work plan focuses on key areas such as transportation services, housekeeping services, and inbound consumption, emphasizing innovation and talent development [2] - The commercial aerospace industry is being prioritized, with plans to develop new fields like space resource development and space tourism during the 14th Five-Year Plan [3] Group 2 - Shanghai aims to become a national hub for the commercial aerospace industry, targeting an industry scale of approximately 100 billion yuan by 2027 [4] - The Beijing humanoid robot innovation center has launched a testing platform, capable of producing 5,000 humanoid robots annually [4] - The Kunshan AI industry fund has been established with a total scale of 5 billion yuan, focusing on AI core hardware and infrastructure [5] Group 3 - The market is experiencing mixed performance, with major U.S. indices showing slight fluctuations [6] - Microsoft shares dropped 10%, marking the largest single-day decline since March 2020, due to concerns over high AI capital expenditures [8] - Gold prices reached a record high of $5,594.82 per ounce before settling at $5,389.19, with a monthly increase of approximately 24% [9]

据最新消息，英伟达、微软、亚马逊正在洽谈向OpenAI投资高达600亿美元，作为OpenAI新一轮1000亿 美元重大融资的一部分。1月28日还有消息称，软银正洽谈向OpenAI追加至多300亿美元投资。 据《The Information》报道，英伟达、亚马逊和微软正在就向OpenAI投资至多600亿美元展开磋商，此 举可能成为人工智能领域迄今规模最大的融资轮之一。当前，在生成式人工智能竞争日趋激烈之际， OpenAI拟持续扩大其计算需求与长期研究能力，因此促成了这一谈判。 马斯克旗下人工智能公司xAI，也有最新动向。特斯拉当地时间周三（1月28日）宣布，将向xAI投资20 亿美元，并表示其 Cybercab无人出租车的生产计划正按计划于今年实现。今年1月6日，xAI宣布完成E 轮200亿美元融资，整体估值达到2300亿美元，较去年春季时的估值翻了一番。 OpenAI拟融资近1000亿美元 OpenAI的上述融资谈判，发生在整个人工智能行业投资激增的背景下，各公司纷纷筹集巨额资金用于 建设基础设施、延揽人才和推动产品开发。 当地时间周三，特斯拉宣布，将向其CEO埃隆·马斯克的人工智能公司xAI投资20亿美元 ...

来源丨新华社 编辑丨曾静娇 黄金白银深夜跳水反弹，Meta涨10%，微软跌10%，好未来飙升18%，加密货币超22万人被爆仓 中国投资者去年买走全球近十分之一黄金 SFC 21君荐读 美国总统特朗普29日签署行政令，宣布国家紧急状态，威胁对向古巴提供石油的国家输美商品 加征从价关税。 ...

格隆汇1月30日｜微软公司股价周四遭遇抛售，跌近10%报433.5美元，市值大减3570亿美元，单日缩水 金额在股市史上高居第二。财报显示，微软人工智能(AI)支出创纪录，而核心的云业务部门增长放缓。 历史上唯一一次市值单日缩水金额比这更大的，是英伟达去年在DeepSeek推出低成本AI模型后创下的 5930亿美元纪录。数据显示，微软市值变动金额超过了逾90%的标普500指数成分股的市值本身。其他 一些科技股也感受到了这股寒气。Alphabet和英伟达市值周四均一度蒸发超过1000亿美元。 ...

Core Viewpoint - Microsoft reported a significant capital expenditure of $37.5 billion in a single quarter, which exceeded market expectations, but this did not lead to a notable acceleration in cloud business growth. The company is prioritizing the allocation of new computing power to self-developed AI products and internal research rather than solely focusing on revenue-generating Azure cloud services, leading to market concerns about short-term capital efficiency and return visibility [1][6]. Financial Performance - In Q2 of FY2026, Microsoft achieved revenue of $81 billion, a year-on-year increase of 17%, surpassing market expectations by 1%. Non-GAAP EPS was $4.41, up 23% year-on-year, exceeding market expectations by 5%. Azure cloud business grew by 38% at constant currency, slightly above Wall Street's forecast of 37% [3][5]. Capital Expenditure Concerns - Investors expressed concerns over Microsoft's rising capital expenditures, which reached $37.5 billion in the quarter, 9% higher than market expectations. The market anticipated that such a substantial investment would lead to a significant acceleration in Azure's growth rate, which did not materialize immediately [6][7]. Strategic Allocation of Resources - Goldman Sachs noted that Microsoft's strategy involves sacrificing short-term Azure revenue growth to prioritize computing power for first-party applications (like Copilot) and internal R&D projects. This strategic choice is expected to drive more meaningful AI positioning and better returns in the medium term [6][7]. Azure Capacity Constraints - Microsoft management indicated that Azure is currently facing capacity limitations rather than a lack of demand. Goldman Sachs emphasized that the guidance for Azure growth of 37%-38% in Q3 should be viewed as a reflection of capacity allocation rather than pure demand. If capacity had not been directed towards first-party applications and internal R&D, Azure's revenue growth rate could have exceeded 40% [8]. Copilot Commercialization - The commercialization path for Copilot is becoming clearer, with adoption and usage accelerating. The number of paid seats for M365 Copilot increased by 160% year-on-year, reaching 15 million. Goldman Sachs believes that Copilot will have a better customer lifetime value to customer acquisition cost ratio compared to Azure, due to its higher gross margins and customer stickiness [9]. Valuation Adjustments - Based on the limited visibility regarding the timeline for capital expenditures to translate into revenue growth, Goldman Sachs adjusted Microsoft's valuation model, lowering the target P/E ratio from 32x to 28x, resulting in a target price reduction to $600. Key downside risks include lower-than-expected revenue contributions from the OpenAI partnership, prolonged ramp-up times for internal chip production, and potential negative impacts from significant leadership changes [10].

微软公司股价周四遭遇抛售，市值大减3570亿美元，单日缩水金额在股市史上高居第二。 受周三盘后公布的财报影响，这家软件巨头收盘下跌10%，创2020年3月以来最大跌幅。财报显示，微 软人工智能（AI）支出创纪录，而核心的云业务部门增长放缓。 | | | Microsoft Losses Second-Most by Stock on Record | | | --- | --- | --- | --- | | Rank | Firm | One-day market cap losss | Date | | 1 | Nvidia | $ 592.7B | 1/27/2025 | | 2 | Microsoft | -357.4 | 1/29/2026 | | 3 | Apple | -311.0 | 4/3/2025 | | 4 | Nvidia | -278.9 | 9/3/2024 | | 5 | Nvidia | -271.6 | 2/27/2025 | | 6 | Nvidia | -265.0 | 3/3/2025 | | 7 | Meta | -251.3 | 2/3/2022 | | 8 | N ...