🚨 NVIDIA CEO Jensen Huang “Almost everything Elon Musk does, you want to be part of. My only regret with xA I—I didn’t invest more.”https://t.co/Cz8cgxoB1b ...

我们为谷歌的成就感到欣喜，他们在AI领域取得长足进步，而我们 始终是谷歌可靠的供应伙伴 。 英伟达持续引领行业发展，我们 是唯 一能够兼 容所有AI模型、覆盖所有计算场景的硬件平台 。 西风 发自 凹非寺 量子位 | 公众号 QbitAI 一听到谷歌要抢走10%的年收入，英伟达罕见地慌了。 紧急发声，一边客套恭喜谷歌的AI进展，一边明晃晃强调自己的核心地位： 相较于专为特定AI框架或功能设计的专用芯片，英伟达解决方案具备 更卓越的性能、更广泛的适用性以及更灵活的通用性 。 到底是咋回事儿？ 众所周知，谷歌刚凭Nano Banana Pro、Gemini 3大获全胜，并且 Gemini 3全程使用谷歌自研TPU （而非英伟达GPU） 。 随后谷歌背后更大动作就曝光了，如意算盘打到了抢占 AI 芯片算力 市场 的高地上： 消息称，谷歌 开始向Meta与大型金融机构等，推介在其自有数据中心部署TPU的方案 。 而Meta正在与谷歌探讨使用TPU训练新AI模型， 计划在2027年斥资数十亿美元在其数据中心使用TPU ，并于明年从谷歌云租用谷歌芯片。 △ AI生成 两大巨头交锋，直接搅动整个AI产业牌桌。 知情人透露， ...

数据显示，截至2025年10月31日，国证通信指数前十大权重股分别为中际旭创、新易盛、中兴通讯、中 国电信、中国移动、中国联通、天孚通信、中天科技、亨通光电、闻泰科技，前十大权重股合计占比 66.96%。 通信ETF(159695)紧密跟踪国证通信指数，一键布局光通信产业链。 来源：智通财经 截至2025年11月26日 11:25，国证通信指数强势上涨5.63%，成分股中际旭创上涨13.91%，信维通信上 涨10.38%，新易盛上涨10.10%，永鼎股份，剑桥科技等个股跟涨。 消息面上，谷歌正在利用其在人工智能（AI）模型领域的最新突破，对英伟达发起挑战。Meta正与谷 歌就2027年在其数据中心使用价值数十亿美元TPU芯片进行谈判，同时计划明年从谷歌云租用芯片。当 前AI趋势明确，人工智能军备竞赛持续，国内外云厂商资本开支高增。通信板块作为"卖铲子"的算力行 业，市场规模持续增长。 中信建投指出，"十五五"规划建议明确，新一轮科技革命和产业变革加速突破，要全面实施"人工智能 +"行动。目前世界正处于AI产业革命中，类比工业革命，影响深远，不能简单对比近几年的云计算、 新能源等，需要以更长期的视角、更高的视野 ...

科技泡沫恐慌之下，AI交易行情瞬息万变。 谷歌"抢风头"、大空头狙击，AI铁王座上的英伟达明显慌了。 昨晚，英伟达深夜惊魂。 公司股价盘中一度重挫逾7%，最终收跌约2.6%，创下两个多月来的收盘新低。 目前，公司总市值跌至4.32万亿美元。 这较10月底创下的历史最高点5.15万亿美元市值，已蒸发近1万亿美元。 对比来看，最强竞争对手谷歌则逆市收高1.6%，连续第三个交易日创历史新高。 今年迄今，英伟达股价累涨超32%，而谷歌涨幅则高达73%，且最新市值也逼近4万亿美元大关。 英伟达绷不住了？ 伴随谷歌全面觉醒，英伟达的霸主地位正被撼动。 此前，谷歌Gemini 3"赶超"ChatGPT，大获市场赞誉；TPU芯片则抢尽了英伟达"风头"， 市场认为，AI芯片市场格局在被重置，英伟达的增长逻辑或生变。 "与专为特定AI框架或功能设计的ASIC（专用集成电路）芯片相比，英伟达提供更高的性 能、更强的通用性以及更好的可替代性。" 同时，英伟达称"为谷歌的成功感到高兴"，并强调将继续向谷歌供货。 值得关注的是，谷歌还在不断挖英伟达的"墙脚"。 据说，英伟达大客户Meta正与谷歌洽谈使用其芯片。 这一潜在交易可能让谷歌抢 ...

Nvidia's website touts its work with companies like ZTE, which has been effectively banned from selling its products in the U.S. for years over national security concerns.Read more: https://t.co/ZniwTBhiuJ https://t.co/koV8i86RH1 ...

有报道称，英伟达重要大客户Meta正考虑在未来数据中心采用谷歌自研TPU，并从明年起租用谷歌云芯 片资源。报道提到，谷歌TPU被推销为英伟达GPU的"成本更优替代品"，并引发投资者忧虑，这或削弱 英伟达在AI基础设施中的统治地位。 当地时间周二，英伟达罕见回应市场对其AI芯片主导地位受威胁的担忧。 昨夜，美股三大指数集体收涨，道指涨1.43%。 11月25日，美联储理事斯蒂芬·米兰(Stephen Miran)在电视采访中表示，由于美联储过高的利率目标，导 致就业市场恶化，他建议加大降息力度以支持经济。 热门科技股普遍收涨，META收涨3.78%，谷歌收涨1.62%，市值逼近4万亿美元。而英伟达收跌 2.59%，一度跌超7%。 英伟达在社交平台X上发文称："我们对谷歌的成功感到高兴——他们在人工智能方面取得了巨大进 展，而我们也将继续向谷歌供货。""英伟达领先行业整整一代，是唯一一个能运行所有AI模型、并在所 有计算场景中部署的平台。"英伟达补充道："与专为特定AI框架或功能设计的ASIC（专用集成电路） 芯片相比，英伟达提供更高的性能、更强的通用性以及更好的可替代性。" 来源：智通财经、中国基金报、市场公开 ...

Market Overview - Asia-Pacific markets showed strong performance, with the MSCI's index of Asia-Pacific shares excluding Japan rising by 1%, Japan's Nikkei gaining 0.8%, and South Korea's Kospi surging 2.39% [2][8] - The Hang Seng Index in Hong Kong climbed to 26,000 points, driven by expectations of a U.S. Federal Reserve interest rate cut [3][8] Technology Sector Developments - The AI chip market is experiencing intensified competition, with Meta Platforms in talks to acquire Google's Tensor Processing Units, potentially challenging Nvidia's market dominance, which saw a 4% drop in shares during premarket trading [4][8] - Amazon is under investigation by the FAA following an incident involving one of its delivery drones, while SK Hynix has launched a unique snack in collaboration with 7-Eleven, marking a first for the semiconductor industry [5] - Taiwan's China Steel Corp. is expanding into the drone and robotics sectors, producing motors for UAVs and developing ultra-thin electromagnetic steel products [6] Foreign Exchange and Investment Trends - South Korea's Finance Minister has pledged to address extreme fluctuations in the foreign exchange market, with a focus on monitoring speculative activities [9][10] - Domestic investors in South Korea have significantly increased overseas stock purchases, with net purchases of U.S. stocks reaching $6.85 billion last month [10] Geopolitical Context - Beijing has reiterated its determination to counter foreign interference regarding Taiwan, particularly in response to Japan's missile deployment [11] - Ukrainian President Zelenskiy expressed readiness to advance a U.S.-backed framework for ending the war with Russia, with discussions expected to involve U.S. President Trump and European allies [13]

Group 1: Technology Innovations - Huawei launched the Mate 80 series smartphones featuring four new technologies: ultra-transparent Linglong screen, outdoor exploration mode, emergency communication without network, and second-generation red maple imaging. Prices start from 4699 yuan for Mate 80 and go up to 11999 yuan for Mate 80 RS [2] - Tencent introduced the open-source HunyuanOCR model with only 1 billion parameters, achieving state-of-the-art results in various OCR applications [4] - Baidu established two new research departments focused on developing general AI models and specialized application models, reporting directly to CEO Li Yanhong [5] Group 2: AI and Cloud Computing - Alibaba's CEO discussed the strong demand for AI, indicating a supply chain expansion cycle lasting at least two to three years, with AI resources remaining in short supply [3] - Amazon announced an investment of up to $50 billion to enhance its AI and high-performance computing services for U.S. government agencies, planning to build 1.3GW of new data center capacity [7] - Ideal Auto's chairman revealed plans to launch AI glasses as part of their ecosystem, emphasizing the integration of AI capabilities into their products [8] Group 3: Corporate Developments - Upwind New Materials appointed Peng Zhihui as chairman and announced a new executive team following a board restructuring [6] - TSMC filed a lawsuit against former executive Luo Weiren for potential trade secret violations after he joined Intel [11] - Demingli plans to raise up to 3.2 billion yuan through a stock issuance to fund SSD and DRAM expansion projects [13] Group 4: Mergers and Acquisitions - Purun Co. is planning to acquire a 49% stake in Zhuhai Noah Changtian Storage Technology Co., with the transaction still in the planning stage [14] - SIRUI plans to purchase shares of Ningbo Aura Semiconductor Co., which may constitute a significant asset restructuring [15][16] - Dingtong Technology intends to acquire 70% of Shenzhen Blue Ocean Vision Technology Co. for 126 million yuan, focusing on machine vision equipment [17] - Chunqiu Electronics is making a voluntary offer to acquire all shares of Asetek A/S for up to 573 million Danish kroner, targeting the liquid cooling technology sector [18]

Core Viewpoint - Nvidia claims to maintain a significant technological lead in the AI sector, asserting it is the only platform capable of running all AI models across various computing scenarios [1][2]. Group 1: Nvidia's Market Position - Nvidia's statement comes in response to concerns from Wall Street regarding potential threats to its dominance in AI infrastructure from Google's chip developments [2]. - Despite Nvidia's strong performance in the AI chip market, holding over 90% market share, there is increasing attention on Google's self-developed TPU chips as viable alternatives to Nvidia's Blackwell chips [5]. - Nvidia's CEO Jensen Huang expressed concerns about the company's high market expectations, indicating that even a slight miss in performance could lead to significant market repercussions [5][6]. Group 2: Stock Performance and Market Reaction - On November 25, Nvidia's stock price fell over 7% during trading, resulting in a market capitalization loss of nearly $350 billion, closing at $177.82, the lowest in over two months [6]. - The stock has decreased approximately 16% from its historical high of $212 per share on October 29, leading to a total market value loss exceeding $800 billion [6]. Group 3: Competitive Landscape - The recent launch of Google's Gemini 3 model, which reportedly surpasses OpenAI's GPT models, has shifted market sentiment, raising concerns about Nvidia's future order prospects linked to OpenAI [5][9]. - Analysts suggest that Nvidia may need to provide stronger evidence of sustained AI demand to reassure investors about the stability of the AI market and dispel concerns of a potential bubble [9].

市场回顾 上海证券近日发布计算机行业周报：过去一周（11.17-11.21）上证综指下跌3.90%，创业板指下跌 6.15%，沪深300指数下跌3.77%，计算机（申万）指数下跌2.74%，跑赢上证综指1.16个百分点，跑赢创 业板指3.41个百分点，跑赢沪深300指数1.03个百分点，位列全行业第7名。 以下为研究报告摘要： 英伟达发布Q3财报，数据中心业绩亮眼。11月19日，英伟达发布2026财年第三财季财务报告。财报显 示，英伟达第三财季营收为570.1亿美元，超出市场预期的549.2亿美元；数据中心Q3营收为512亿美 元，超过分析师预测的490.9亿美元，同比增长66%；净利润为319.1亿美元，同比大涨65%。英伟达预 计第四季度营收约为650亿美元，远高于分析师预测的617亿美元。黄仁勋在财报会上表示，Blackwell 产品的销量远超预期，用于云服务器的GPU产品"已经售罄"。截至2026年的未来五个季度，Blackwell与 Rubin的可见收入已经超过5000亿美元，订单量约为2000万颗GPU。 建议关注：（1）算力：寒武纪、海光信息、中科曙光、华丰科技、申菱环境、英维克、欧陆通、中恒 ...