来源：滚动播报 周四美股三大股指收盘普跌，道指跌1.65%，纳指跌2.29%，标普跌1.65%。英伟达跌超3%，微软跌超 1%，谷歌跌超2%，亚马逊跌超2%，博通跌超4%，特斯拉跌超6%，甲骨文跌超4%。 道琼斯 ▲ ( 指 US.DJJ 47457.219 -797.601 -1.65% 已收盘 Nov 13 04:55PM EST 今开 48173.922 最高 48233.250 量 6.1亿 昨收 48254.820 最低 47411.102 振幅 1.70% 上涨 0 1 道琼斯指数期货 47581.90 -1.63% 相关ETF 道琼斯ETF 1.302 +2.52% 分时 五日 日K 周K 月K 更多 MA - MA5:47599.146 10:47420.382 20:47248.148 30:46933.420 48633.968 48431.570- 47520.779 46407.590 44579.031 44181.212 2025/08/15 2025/09/16 2025/10/15 2025/11/13 ...

The declines came after the historic 43-day government shutdown, ending just a day prior, with markets reacting to uncertainties about the economic impact of the closure and shifting expectations around The The government shutdown, the longest in US history, had delayed critical economic reports such as jobs numbers and inflation data, leaving investors without the usual indicators to gauge the economy. While the shutdown ended when President Technology stocks led the declines, with heavyweights like Live ...

Core Insights - The current market is heavily influenced by AI, leading to concerns about a potential AI bubble due to overcommitment in spending by companies like OpenAI [5][10][12] - OpenAI has committed over $1.4 trillion in spending, while its revenue for the first half of the year was only $4.3 billion, raising questions about sustainability [10][12][13] - Major tech companies are increasing their capital expenditures (CapEx) significantly, indicating a response to rising demand for AI infrastructure [16][17][19] AI Market Dynamics - The AI market is characterized by a reactionary nature, with companies spending heavily to avoid falling behind competitors [7][14] - Concerns are growing about whether companies are spending based on best-case scenarios without adequate contingency plans [19][20] - Recent earnings reports from tier-one players show a trend of increased CapEx, but market reactions vary based on management commentary and perceived risk [18][20] Supply Chain and Investment Opportunities - There are signs of potential supply chain issues, particularly with Nvidia's new products, which could impact the AI server demand [21][29][30] - Companies like CoreWeave and Supermicro have cut guidance, indicating possible challenges in the AI supply chain [23][29] - Despite current market anxieties, there are long-term opportunities in companies with solid fundamentals in the AI supply chain, such as Nvidia, AMD, and Broadcom [37][44][91] Company-Specific Analysis - AMD's recent deal with OpenAI to deploy six gigawatts of power is seen as a strategic move to secure its position in the AI market, despite current financial performance lagging [50][58][62] - Intel's future is uncertain due to its foundry business and lack of commitment to capital expenditures, which could affect its competitive positioning [80][83][88] - Micron is highlighted as a strong player in the memory space, with expected demand for high-bandwidth memory (HBM) increasing significantly due to AI server build-out [91][92] Broader Market Considerations - The overall sentiment in the tech market is heavily tied to AI, with many investors focusing solely on AI-related growth opportunities [96][97] - There are also attractive investment opportunities outside of AI, such as Rocket Labs, which is positioned to compete in the growing space market [100][102] - The market is currently pricing in high valuations for many tech companies, driven by future potential rather than current performance, making it essential for investors to be cautious [69][64]

Market Overview - U.S. stock markets faced a significant downturn on November 13, 2025, marking one of the worst trading days since April, driven by concerns over high valuations of AI-related stocks and skepticism regarding the Federal Reserve's interest rate cuts [1][10] - Major indexes closed sharply lower, with the Nasdaq Composite dropping 2.3%, the S&P 500 falling 1.7%, and the Dow Jones Industrial Average shedding approximately 797 points, or 1.7% [2][10] Sector Performance - The negative sentiment was largely due to a rotation out of high-flying technology and AI stocks, as investors questioned the sustainability of their rapid gains, leading to a shift towards more defensive market areas [3] - Treasury yields increased, adding pressure to stock valuations, particularly for growth-oriented companies [3] Company-Specific News - Nvidia (NVDA) was a major drag on the market, with shares falling between 3.6% and 4.2%, as investor scrutiny over its valuation increased [5] - Tesla (TSLA) shares declined nearly 7% due to a steep year-over-year sales decline in China, highlighting competition and demand challenges [5] - The Walt Disney Co. (DIS) saw its shares tumble between 7.8% and 8.9% after missing quarterly sales forecasts, despite exceeding profit expectations [5] - Alphabet (GOOGL) experienced a notable drop of 2.3% amid the broader tech sell-off [5] - Cisco Systems (CSCO) rose 4.5% after boosting its full-year profit and revenue forecasts, driven by strong demand for networking equipment [5] - Sealed Air (SEE) shares soared between 16% and 19.6% following reports of a potential take-private deal [5] - Verizon Communications (VZ) shares rose 0.7% on plans to cut approximately 15,000 jobs for cost optimization [5] - Other AI-related stocks faced declines, including Super Micro Computer (SMCI) down 7.4%, Palantir Technologies (PLTR) down between 6.5% and 6.7%, and Broadcom (AVGO) down between 4.3% and 5.65% [5] - Companies in the cryptocurrency space also saw declines, with Robinhood Markets (HOOD) dropping nearly 9%, Interactive Brokers (IBKR) losing 7.8%, and Coinbase Global (COIN) sinking 6.9% [5] Economic Data and Federal Reserve Outlook - The market is awaiting crucial economic data, including the Consumer Price Index (CPI) and employment reports for October, which are expected to be delayed due to the recent end of the federal government shutdown [4][6] - The Federal Reserve's stance on interest rates remains a dominant theme, with skepticism about another rate cut in December, as the probability of a 25-basis-point cut decreased from 70% to approximately 53% [7] Upcoming Events - Nvidia's upcoming earnings report is highly anticipated, as it could serve as a significant test for the prevailing optimism surrounding AI technology [8]

New Positions - Appaloosa Management has taken new stakes in several companies, with Advanced Micro Devices becoming one of the fund's top holdings [2] - The fund has also invested in another airline company for the second consecutive quarter and acquired new stakes in multiple regional banks [2] Exited Positions - In the third quarter, Appaloosa exited its positions in three companies, including a relatively short trade in Intel, which was initiated in the second quarter and sold off in the third quarter [3] Changes to Positions - The fund disclosed changes to existing stock positions, with the largest increases in shares for Advanced Micro Devices, Fiserv Inc, American Airlines Group, and several regional banks [4] - Whirlpool Corp had the largest percentage increase at +1,967%, followed by Goodyear Tire & Rubber at +496% and Qualcomm Inc at +256% [6][7] Decreased Positions - The fund sold off several stocks it had recently added or increased during the second quarter, including a continued reduction in Alibaba, which remains the largest position at 16% [7][10] Top Holdings - The top holdings in the fund include Alibaba at 16%, Amazon.com Inc at 7.4%, and Whirlpool at 5.9% [11]

Core Insights - The AI frenzy continues to elevate NVIDIA (NVDA) as a leading choice for AI-related hardware, particularly GPUs, amidst high demand from various sectors [1] Partnerships and Collaborations - NVIDIA and Samsung are collaborating to establish a new AI factory utilizing over 50,000 NVIDIA GPUs for AI-driven semiconductor production, marking a significant shift towards automated manufacturing for Samsung [2] - A strategic partnership with OpenAI was announced, where NVIDIA will deploy at least 10 gigawatts of systems to support OpenAI's next-generation AI infrastructure, with a planned investment of up to $100 billion [3][4] - NVIDIA's partnership with the Kingdom of Saudi Arabia involves building AI factories with a projected capacity of up to 500 megawatts, powered by several hundred thousand NVIDIA GPUs over the next five years [5] - A collaboration with Novo Nordisk aims to develop customized AI models for early research and clinical development, leveraging advanced simulation and physical AI technologies [6] - NVIDIA and Intel are working together to create custom data center and PC products, with NVIDIA planning to invest $5 billion in Intel's common stock [7] Market Performance - NVIDIA's Data Center growth has been a key driver of its positive market performance, fueled by relentless demand stemming from the AI boom [9] - The company continues to secure lucrative deals with various partners, including OpenAI, Novo Nordisk, and Intel, reflecting strong market interest in its GPUs [12]

Purpose-built AI model delivers instant insights and control for industrial teams, on the edge, offline and everywhere work happens MILWAUKEE, Nov. 13, 2025 /PRNewswire/ --Â Rockwell Automation, Inc. (NYSE: ROK), one of the world's largest companies dedicated to industrial automation and digital transformation, today announced a breakthrough in bringing generative AI directly to the industrial edge. Rockwell is introducing its integration of NVIDIA Nemotron Nano, a purpose-built small language model (SLM) o ...

Accessibility StatementSkip Navigation Purpose-built AI model delivers instant insights and control for industrial teams, on the edge, offline and everywhere work happens MILWAUKEE, Nov. 13, 2025 /PRNewswire/ --Â Rockwell Automation, Inc. (NYSE: ROK), one of the world's largest companies dedicated to industrial automation and digital transformation, today announced a breakthrough in bringing generative AI directly to the industrial edge. Rockwell is introducing its integration of NVIDIA Nemotron Nano, a pur ...

🎙️ 嘉宾 Nathan Xu，前微软能源战略经理，前突破能源科研总监 Bruce Liu，美国Esoterica Capital(济容投资)首席执行官兼首席投资官 Yang Ren，美国Esoterica Capital(济容投资)联合创始人 Rob Li，纽约Amont Partners管理合伙人 🗓️ 时间安排 加州时间 周五晚 8:00 - 9:00pm 📌 简介 2025 年的科技市场再次进入狂热时刻。英伟达、微软、亚马逊、谷歌、Meta 等科技巨头纷纷上调 AI 基础设施的资本开支（CapEx），AI 数据中心成为新的“军备竞赛”。与此同时，OpenAI 的 Stargate 计划正试图联手微软、软银等全球资本，打造史上最大规模的 AI 计算集群。这不仅意味着 AI 投资的继续加速，也引发了一个耐人寻味的现象——“AI 资本内循环”：巨头出资建设芯片和数据中心，为自己的 AI 模型提供算力，又通过这些模型推动自家平台的增长。 然而，这样的高速循环究竟是健康的产业升级，还是即将破灭的泡沫？市场估值的合理性、利润兑现的时机、以及技术扩散的速度，正成为投资者最关注的焦点。 本次直播将带领观众从算力、能源 ...

🎙️ 嘉宾 Nathan Xu，前微软能源战略经理，前突破能源科研总监 Bruce Liu，美国Esoterica Capital(济容投资)首席执行官兼首席投资官 Yang Ren，美国Esoterica Capital(济容投资)联合创始人 Rob Li，纽约Amont Partners管理合伙人 🗓️ 时间安排 加州时间 周五晚 8:00 - 9:00pm 📌 简介 2025 年的科技市场再次进入狂热时刻。英伟达、微软、亚马逊、谷歌、Meta 等科技巨头纷纷上调 AI 基础设施的资本开支（CapEx），AI 数据中心成为新的“军备竞赛”。与此同时，OpenAI 的 Stargate 计划正试图联手微软、软银等全球资本，打造史上最大规模的 AI 计算集群。这不仅意味着 AI 投资的继续加速，也引发了一个耐人寻味的现象——“AI 资本内循环”：巨头出资建设芯片和数据中心，为自己的 AI 模型提供算力，又通过这些模型推动自家平台的增长。 然而，这样的高速循环究竟是健康的产业升级，还是即将破灭的泡沫？市场估值的合理性、利润兑现的时机、以及技术扩散的速度，正成为投资者最关注的焦点。 本次直播将带领观众从算力、能源 ...