图片来自豆包AI 英伟达正以一系列罕见的公开和私下举动，回应来自市场竞争和空头言论的双重压力，但这些防御措施不但非没有平息投资者的疑虑，反而暴露了巨头的不自 信。 美东时间周二，在股价盘中一度重挫逾7%后，英伟达罕见地通过社交媒体平台X发帖， 公开宣称其GPU技术"领先行业一代"，直接回击市场对其主导地位可 能受到谷歌挑战的担忧。 英伟达股价当日最终收跌约2.6%，创下两个多月来的收盘新低，而其竞争对手谷歌母公司Alphabet股价则逆市收高1.6%，连续第三个交易日创历史新高，市 值逼近4万亿美元大关。 (英伟达VS谷歌过去五日走势对比) 在此之前，英伟达在刚刚过去的周末向华尔街分析师秘密分发了一份长达七页的备忘录。据《华尔街日报》等媒体报道，该文件旨在"逐条"反驳包括电影《大 空头》原型人物Michael Burry在内的批评者所提出的会计欺诈、循环融资和AI泡沫等指控。 然而，一系列紧急沟通似乎并未达到预期效果。 有分析师指出，这些举动反而让英伟达显得"进退失据"。一家处于行业之巅的巨头，本无需对每一次市场杂音 都做出回应，其不同寻常的反应，恰恰被解读为内心不安的信号。 这种"进退失据"的观感背后，是英 ...

（文章来源：21世纪经济报道） 当地时间11月25日，美国三大股指全线收涨，道指涨1.43%，标普500指数涨0.91%，纳指涨0.67%。值 得注意的是，盘中谷歌一度涨逾3%，而英伟达一度重挫7.12%，创9月17日以来新低，总市值较历史最 高点跌超1万亿美元。据智通财经报道，谷歌正在人工智能（AI）芯片竞赛中加大角逐力度，以挑战英 伟达在这一领域的霸主地位。 据新华社报道，美国知名空头迈克尔·伯里11月23日在付费订阅平台"订阅堆栈"发文，重申他对美国英 伟达公司的看空立场。此前，英伟达反驳了伯里的相关分析。英伟达周二表示，其技术仍领先行业一 代，以回应华尔街对谷歌AI芯片可能威胁英伟达在AI基础设施主导地位的担忧。 ...

Group 1 - A new stringent regulation for power banks will eliminate nearly 70% of existing production capacity, as the old 3C certification will become invalid. The new standards are expected to be published in December 2025 and implemented by June 2026 [5][6] - NIO aims for profitability in Q4 2025, with a target of 50,000 monthly sales in the first half of 2026 and plans to launch three large new models [8][9] - Baidu has established two new AI model research departments, indicating a focus on enhancing its capabilities in artificial intelligence [9][10] Group 2 - Li Xiang, founder of Li Auto, announced that the company will not produce smartphones but will release smart glasses as part of its ecosystem [15] - Zhihu reported a net loss of 46.7 million RMB in Q3 2025, with a significant decline in revenue across various segments [17] - Alibaba's Q2 FY2026 revenue reached 247.8 billion RMB, driven by a 34% increase in AI-related product revenue, indicating strong demand in the AI sector [12] Group 3 - Trump signed an executive order to launch the AI "Genesis Plan," aimed at transforming scientific research through AI [35] - Apple confirmed layoffs in its sales department and significantly reduced production of the iPhone Air due to lower-than-expected sales [36] - Amazon announced a plan to invest up to $50 billion in expanding AI and supercomputing capabilities for its cloud services [37]

Market Performance - US stock markets collectively rose, with the three major indices experiencing gains for the third consecutive trading day. The S&P 500 index increased by nearly 1%, while the Dow Jones Industrial Average rose over 1% [1][5] - Specific index performances included: Dow Jones at 47112.45 (+664.18, +1.43%), S&P 500 at 6765.88 (+60.76, +0.91%), and Nasdaq at 23025.59 (+153.58, +0.67%) [2][5] Federal Reserve Developments - The final interviews for the new Federal Reserve Chair candidates are expected to conclude soon, with Kevin Hassett being viewed as the frontrunner for the position [8][9] - Federal Reserve Governor Milan stated that the US economy requires significant interest rate cuts, indicating that current monetary policy is hindering economic growth and contributing to rising unemployment [3][15] - Financial markets anticipate a 25 basis point rate cut during the Federal Reserve's meeting on December 9-10, which would lower the federal funds rate target range from 3.75% to 4% [15] Technology Sector Insights - Nvidia claimed its technology remains "a generation ahead of the industry," asserting it is the only platform capable of running all AI models across various computing scenarios [4][5] - Nvidia's stock faced a significant drop of over 7% before recovering slightly, closing down approximately 2.6%, marking a two-month low in market value [6] International Relations - Reports indicate that Ukraine has tentatively agreed to a peace agreement proposed by the US, although some terms are still under discussion [11][10] - The US and Ukrainian delegations have reached consensus on core terms of the peace agreement, with expectations for Ukrainian President Zelensky to visit the US soon to finalize the deal [11]

盘前要闻 情绪影响：正面 英伟达罕见在股价大跌后主动发声，公开宣称其图形处理器(GPU)领先行业整整一代，直接回应市场对 其在人工智能(AI)芯片领域主导地位可能受到谷歌挑战的担忧。隔夜英伟达股价一度重挫逾7%，最终 收跌约2.6%，创两个多月收盘新低。 3、特朗普称俄乌和平协议已非常接近达成，美官员称仍有一些条款需要讨论 1、国家航天局印发行动计划，目标2027年基本实现商业航天高质量发展 类型：行业 情绪影响：正面 国家航天局印发商业航天高质量安全发展行动计划(2025—2027年)，其中提出，到2027年，商业航天产 业生态高效协同，科研生产安全有序，产业规模显著壮大，创新创造活力显著增强，资源能力实现统筹 建设和高效利用，行业治理能力显著提升，基本实现商业航天高质量发展。 类型：宏观 2、英伟达大跌后罕见安抚市场：我司GPU比谷歌AI芯片领先一代 类型：公司 4、阿里Q3营收2478亿超预期，公司称AI没有泡沫、3800亿之外会加大投入 类型：公司 情绪影响：中性 阿里巴巴隔夜美股跌超2%，公司Q3营收2478亿，同比增长4.8%，略高于市场预期，但调整后净利润同 比大降72%至103.5亿，盈利能力 ...

[Music] [Music] [Music] Hey, I'm Kramer. Welcome to Mad Money. Welcome to Craya.uh through my friends. I'm just trying to make a little money here. My job is not just entertain, but I'm teaching tonight.So call me 1800 743 CBC. Tweet me Jim Kmer. You either believe in artificial intelligence or you should just stay away.>> Don't buy. Don't buy. >> You trust Nvidia and Jensen Wong or you can just go own some drug stocks and some food stocks.And you know what. Why don't you just go buy some rails >> all. Nobo ...

Core Viewpoint - The investment landscape is shifting, with a focus on trust in technology companies, particularly the "Magnificent 7" (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla), as they navigate challenges and opportunities in the market [4][5][7][19]. Group 1: Technology Sector Insights - The "Magnificent 7" companies have achieved their status through consistent performance and innovation, not by making significant mistakes [4][5]. - Nvidia is facing challenges as Alphabet shifts to its own chips, impacting Nvidia's stock performance, which has seen a significant decline from $212 to as low as $169 [12][14]. - Meta's stock has benefited from the news of potentially using Alphabet's chips, leading to a nearly 4% increase in its stock price [15]. Group 2: Market Dynamics - The overall market saw significant gains, with the Dow rising 664 points, the S&P increasing by 0.91%, and Nasdaq gaining 67 points, highlighting the importance of trust in stock investments [3]. - Retailers like Abercrombie and Fitch and Kohl's reported better-than-expected results, with stock increases of 38% and 43% respectively, indicating strong performance in the retail sector [5][6]. - Best Buy's positive quarterly report has led to an increased four-year outlook, suggesting potential growth in consumer tech within the retail space [27]. Group 3: Investment Strategy - Investors are encouraged to adopt a long-term perspective, focusing on owning stocks rather than trading them based on short-term market fluctuations [17][22]. - The narrative around Nvidia has shifted, with concerns about its AI dominance being countered by historical resilience and potential for recovery [21][22]. - The importance of understanding the competitive landscape and the implications of technological advancements is emphasized for making informed investment decisions [4][11].

Market Overview - Japanese and South Korean stock markets both saw gains, with the Nikkei 225 index rising by 350.40 points, a 0.72% increase, closing at 49009.92 points [5] - The three major U.S. stock indices also closed higher for the third consecutive trading day, with the Dow Jones increasing by 1.43% to 47112.45 points, the S&P 500 up by 0.91% to 6765.88 points, and the Nasdaq rising by 0.67% to 23025.59 points [5] - European stock indices also performed well, with the FTSE 100 index in London closing at 9609.53 points, a 0.78% increase, the CAC40 index in Paris at 8025.80 points, up by 0.83%, and the DAX index in Frankfurt at 23445.62 points, a 0.89% rise [5] International Macro - The U.S. federal government budget deficit for October reached $284 billion, largely due to the impact of a recent government shutdown that lasted 43 days, delaying payments such as government employee salaries [7] - The announcement of the next Federal Reserve Chair is expected soon, with Kevin Hassett being viewed as the leading candidate [7] - Federal Reserve Governor Milan stated that the U.S. economy requires significant interest rate cuts, claiming that current monetary policy is hindering economic growth and gradually increasing unemployment [8] Corporate News - Nvidia claims its technology remains a generation ahead of the industry, being the only platform capable of running all AI models across various computing scenarios [8] - Apple is projected to surpass Samsung and reclaim its title as the world's largest smartphone manufacturer, driven by the successful launch of the new iPhone series and a surge in consumer upgrades. Apple is expected to capture 19.4% of the smartphone market, which is anticipated to grow by 3.3% overall in 2025 [8]

Market Performance - The three major U.S. stock indices closed higher, with the Dow Jones up 1.43% at 47112.45 points, the S&P 500 up 0.91% at 6765.88 points, and the Nasdaq up 0.67% at 23025.59 points [1] - Major U.S. tech stocks mostly rose, with Facebook increasing nearly 4%, Google up over 1%, Amazon up more than 1%, Microsoft up 0.63%, Apple up 0.38%, and Tesla up 0.39%. Nvidia, however, fell over 2% [1] - Chinese concept stocks showed mixed results, with Hesai Technology up nearly 11%, Tuya Smart up nearly 9%, and Qifu Technology up over 7%. NIO fell over 4%, Alibaba down over 2%, Atour down nearly 2%, and Baidu down over 1% [1] European Market - European stock indices all closed higher, with Germany's DAX index up 0.89% at 23445.62 points, France's CAC40 index up 0.83% at 8025.8 points, and the UK's FTSE 100 index up 0.78% at 9609.53 points [1] Commodity Markets - International precious metal futures generally rose, with COMEX gold futures up 0.78% at $4126.3 per ounce and COMEX silver futures up 1.50% at $51.08 per ounce [1] - U.S. oil main contract fell 1.24% to $58.11 per barrel, while Brent crude oil main contract dropped 1.2% to $61.97 per barrel [1] Currency and Bond Markets - The U.S. dollar index fell 0.39% to 99.81, while the offshore RMB appreciated by 239 basis points against the dollar to 7.0829 [1] - U.S. Treasury yields collectively declined, with the 2-year yield down 3.62 basis points to 3.459%, the 3-year yield down 2.23 basis points to 3.452%, the 5-year yield down 2.79 basis points to 3.564%, the 10-year yield down 3.07 basis points to 3.996%, and the 30-year yield down 2.05 basis points to 4.650% [1] - European bond yields also fell, with the UK 10-year yield down 0.8 basis points to 4.536%, France's 10-year yield down 2.6 basis points to 3.445%, Germany's 10-year yield down 1.1 basis points to 2.690%, Italy's 10-year yield down 1.9 basis points to 3.438%, and Spain's 10-year yield down 1.4 basis points to 3.193% [1]

英伟达正以一系列罕见的公开和私下举动，回应来自市场竞争和空头言论的双重压力，但这些防御措施不但非没有 平息投资者的疑虑，反而暴露了巨头的不自信。 美东时间周二，在股价盘中一度重挫逾7%后，英伟达罕见地通过社交媒体平台X发帖，公开宣称其GPU技术"领先行 业一代"，直接回击市场对其主导地位可能受到谷歌挑战的担忧。 英伟达股价当日最终收跌约2.6%，创下两个多月来的收盘新低，而其竞争对手谷歌母公司Alphabet股价则逆市收高 1.6%，连续第三个交易日创历史新高，市值逼近4万亿美元大关。 在此之前，英伟达在刚刚过去的周末向华尔街分析师秘密分发了一份长达七页的备忘录。据《华尔街日报》等媒体 报道，该文件旨在"逐条"反驳包括电影《大空头》原型人物Michael Burry在内的批评者所提出的会计欺诈、循环融 资和AI泡沫等指控。 然而，一系列紧急沟通似乎并未达到预期效果。有分析师指出，这些举动反而让英伟达显得"进退失据"。一家处于 行业之巅的巨头，本无需对每一次市场杂音都做出回应，其不同寻常的反应，恰恰被解读为内心不安的信号。 这种"进退失据"的观感背后，是英伟达正面临的巨大压力。华尔街见闻此前提及，CEO黄仁勋在 ...