December 17, 2025 12:04 AM GMT Semiconductors | North America 2026 Semiconductor Outlook: AI semi strength pushing the ecosystem to the limits While we understand longer term skepticism on AI, we believe that 2026 will remain strong maintaining good visibility in 2027. That's good for AI semis stocks, but the next leg of growth is more positive for memory and fab utilization, leading to a broader group of outperformers. For the third consecutive year, the biggest debate is AI semis, where the index weightin ...

闻乐 发自 凹非寺 量子位 | 公众号 QbitAI 游戏&装机党注意了！ 有消息称英伟达2026上半年要对 GeForce RTX 50 系列下狠手，产量将一刀砍掉30%-40%。 16GB显存的5060 Ti、5070Ti可能最先没……这意味着消费者要么被迫选"阉割版"的8GB显卡，要么就得加钱买更贵的。 消息一出，网友炸锅了："我们玩家算什么！""AMD、Intel你们趁机崛起吧"。 那为啥突然减产呢？ 有朋友肯定知道，这两款卡的显存容量和更贵的RTX 5080是一样的，但售价更亲民，本来是中端玩家的"香饽饽"。 但从商业角度看，英伟达肯定想把有限的内存资源留给利润更高的RTX PRO系列和高端消费卡，毕竟同样的内存，装在贵卡上能赚更多—— 所以只能牺牲这两款中端卡的产能，优先保高利润机型了。 而且，还有个坏消息，咱普通玩家得做好GPU缺货涨价的准备…… 优先保高利润机型 一方面是 "内存荒" 闹的。 不只是大家比较关注的GDDR7，现在连其他类型内存都供应紧张，就算英伟达想满负荷生产，但"巧妇难为无米之炊"，没有足够的内存也白 搭。 另一方面更现实，怕 卖不动 。 英伟达可能预判到2026年NAND和 ...

据界面新闻，英伟达首席执行官黄仁勋当地时间12月17日透露，作为向OpenAI投资千亿美元计划的一部分，英伟达目前尚未向OpenAI支 付"一分钱"。 今年9月，英伟达和OpenAI签署合作意向，英伟达计划向OpenAI投资1000亿美元，双方共建大规模数据中心。 ...

Core Viewpoint - The tech sector is experiencing significant volatility, raising concerns about a potential AI bubble, but with the right strategy, young investors can participate without excessive risk [1]. Group 1: Investment Strategy - Aligning AI investments with risk tolerance and financial goals is crucial, as not all investors can handle the volatility associated with AI companies [2]. - A balanced approach is recommended for investing in AI stocks, as picking individual stocks can be overly risky [6]. - For long-term goals, such as retirement savings, having some AI exposure can complement other asset classes, while short-term goals should avoid AI stocks due to their volatility [4]. Group 2: Portfolio Management - Certain index funds, like ETFs tracking the Nasdaq, may already provide exposure to AI companies, making it easier for investors to diversify [7]. - Young investors with a long-term horizon may allocate 10% to 15% of their portfolio to the AI sector, while more conservative investors should limit exposure to 5% or avoid AI investments altogether if funds are needed in the near term [7]. - It is advisable to focus on companies with strong balance sheets and cash flows, avoiding investments based solely on social media hype [8]. Group 3: Market Dynamics - The rapid evolution of technology means that current investments may become outdated quickly, necessitating careful selection [5]. - There is a consensus that AI will play a significant role in future growth, but the timing and magnitude of this growth remain uncertain [7].

（原标题：?芯片股牛市叙事仍在"主升浪"! 2026年配置主题紧抓AI芯片、半导体设备与光互连） 智通财经APP获悉，华尔街金融巨头摩根士丹利发布的最新研究报告显示，在史无前例的AI基建热潮以 及传统模拟芯片/MCU强劲去库存步伐推动之下，芯片股的"长期牛市逻辑"仍然完好无损，明年芯片股 仍有可能是美股市场表现最亮眼板块之一，英伟达(NVDA.US)、博通(AVGO.US)以及Astera Labs(ALAB.US)位列该机构2026年首选半导体股票之列。 相比于立场稍显谨慎的大摩，美银的表述更直接：仍将AI竞赛视为"早/中期阶段"，并预期AI半导体这 一芯片板块细分领域在2026年仍非常有可能维持50%+的同比增长驱动因素(高数据中心利用率、供给偏 紧、企业采用、LLM/云厂商/主权客户竞赛等)。 几乎同一时间，另一华尔街金融巨头美国银行(Bank of America Research)的资深分析师团队表示，带领 美股踏入这轮超级牛市的芯片板块明年有望继续牛市上攻行情，同样强调英伟达与博通乃2026年最值得 长期持有的芯片股。美国银行在研报中表示，全球AI军备竞赛仍处于"早期到中期阶段"，尽管英伟达、 博 ...

当地时间12月17日，美股三大指数集体收跌。道指跌0.47%；纳指下跌418.14点，跌幅1.81%；标普500 指数跌1.16%。 大型科技股普跌，特斯拉、博通跌超4%，谷歌跌超3%，Meta、苹果跌超1%。储能概念、半导体、计 算机硬件跌幅居前，康特科技跌超7%，超微电脑、阿斯麦、AMD、Arm跌超5%，科磊跌超4%。油 气、能源、贵金属板块走高，康菲石油涨超4%，埃克森美孚、英国石油涨超2%。 甲骨文跌超5%。甲骨文公司在该公司雄心勃勃的人工智能（AI）基础设施扩张计划上遭遇重大挫折， 其最大的数据中心合作伙伴Blue Owl Capital已决定不再支持一项价值100亿美元的数据中心项目。不 过，甲骨文随后回应称，该项目的谈判仍然按计划进行，整体推进情况符合预期，且交易中不包括蓝猫 头鹰资本。 2025年最大规模IPO：Medline Inc.(MDLN)美国IPO首日涨41.38%，报41美元，此前给出的IPO发行价为 29美元，融资62.6亿美元。 Medline负责制造和分销手套、手术袍及检查床等医疗物资，并已获得包括柏基投资和新加坡主权财富 基金在内的基石投资者的认购承诺。 纳斯达克中国金龙指 ...

谷歌正在推进一项名为"TorchTPU"的内部计划，旨在提升其AI芯片对全球最广泛使用的AI软件框架PyTorch的兼容性，此举直指英伟达长期以来依赖的软件生态护城河。据彭博社周四报道，知情人士透露称，谷歌正与Meta密切合作推进这一计划，Meta作为PyTorch的创建者和管理者，希望通过降低推理成本并使AI基础设施多元化，以增强与英伟达的谈判筹码。谷歌还在考虑将部分软件开源，以加速客户的采用速度。与过去支持PyTorch的尝试相比，谷歌此次投入了更多组织资源和战略重视。随着越来越多企业希望采用张量处理单元（TPU）芯片，但将软件堆栈视为瓶颈，这一计划已成为谷歌云业务的关键增长引擎。如果成功，TorchTPU将显著降低企业从英伟达GPU转向替代方案的切换成本。英伟达的主导地位不仅依赖硬件，更依赖其深度嵌入PyTorch的CUDA软件生态系统，而这一生态已成为企业训练和运行大型AI模型的默认方法。外汇交易员 (@myfxtrader):路透：谷歌正在推进一项新计划，以提升其AI芯片在运行全球最常用的AI软件框架PyTorch时的性能，旨在削弱英伟达在AI计算市场的长期主导地位。 ...

Core Viewpoint - Nvidia's CEO Jensen Huang stated that the company has not yet invested any money in OpenAI, despite plans to allocate $100 billion towards the development of ChatGPT and related technologies [1] Group 1 - Nvidia has announced a significant investment plan of $100 billion aimed at enhancing its capabilities in AI and related technologies [1] - The company has not provided any financial support to OpenAI as of now, indicating a cautious approach towards its investments [1]

泡沫观察 2023 年 4 月沉寂后，伯里于 10 月底重返 X，发言集中在对 AI 历史性泡沫的担忧。 （原标题："大空头"伯里沉寂多年突然7周高频发声：做空英伟达、Palantir，押注AI泡沫两年爆裂!） 智通财经APP获悉，过去七周，一向神秘的迈克尔·伯里(Michael Burry)突然走到台前，就比特币、迷因 股、AI 热潮到美联储等话题接连发声。 这位因《大空头》出名的投资人，以往习惯在 X(原推特)上发一些简短难懂的警告，随后秒删，并销声 匿迹数月甚至数年。 如今，他彻底对外关闭自己的对冲基金，不再接受外部资金，把重心放在 Substack 上，写个人投资笔 记并分享财务分析。 这篇文章系统梳理了他在Substack平台发表的文章、X社交平台的动态内容以及近期与作家迈克尔·刘易 斯进行的那场播客访谈，从中提炼并归纳出其至今公开披露的核心观点与关键细节。 他称 OpenAI 是"我们时代的网景"，但账上正血流不止，并披露已押注英伟达和Palantir(PLTR.US)下 跌，预计 AI 泡沫两年内破裂。他建议，在热门资产上大赚的投资者应及时落袋。 据其Substack平台内容显示，在与作家迈克尔 ...

Group 1: Nvidia - Nvidia is currently the world's largest company with a market cap of nearly $4.3 trillion, requiring only a 16% increase in stock price to reach $5 trillion [3][6] - The company's future performance will be driven by rising artificial intelligence (AI) infrastructure spending, particularly from cloud computing companies [4] - Nvidia's GPUs are essential for AI workloads, supported by its CUDA software platform and NVLink interconnect system, creating a competitive advantage [6][7] - The stock is reasonably valued with a forward price-to-earnings (P/E) ratio of less than 24 and a price/earnings-to-growth (PEG) ratio near 0.6, indicating potential for growth [7] Group 2: Alphabet - Alphabet has a market cap of approximately $3.7 trillion and needs a 35% increase in stock price to reach $5 trillion [8][10] - The company is the most profitable globally, with a forward P/E of 27 and a PEG below 1, suggesting it is attractively valued [9][11] - Alphabet's cloud computing and AI businesses complement each other, providing a structural cost advantage through its custom tensor processing units (TPU) [11][12] - The company is expected to benefit from its Waymo robotaxi business and investment in SpaceX, contributing to its goal of reaching a $5 trillion market cap by 2026 [13]