微软(MSFT.US)位列第三，持仓约5136万股，持仓市值约248.39亿美元，占投资组合比例为3.06%，较 上季度持仓数量减少5.86%。 来源：智通财经网 根据美国证券交易委员会(SEC)披露，高盛(GS.US)递交了截至2025年12月31日的第四季度持仓报告 (13F)。 据统计，高盛第四季度持仓总市值为8100亿美元，上一季度总市值为8200亿美元，环比下降约1.22%。 在第四季度的持仓组合中，高盛新增671只个股，增持3027只个股，清仓了555只个股。其中，前十大持 仓标的占总市值的22.11%。 | 2025-12-31 P | | | --- | --- | | 13F Activity | | | Market Value | $0.81t, Prior: $0.82t | | Inflows (Outflows) as % of Total MV | (-2.4403)% | | New Purchases | 671 stocks | | Added To | 3027 stocks | | Sold out of | 555 stocks | | Reduced holding ...

在前五大重仓标的中，英伟达(NVDA.US)位列第一，持仓约1.67亿股，持仓市值约310.81亿美元，占投资组合比例为3.83%，较上季度持仓数量减少0.82%。 苹果(AAPL.US)位列第二，持仓约9099.21万股，持仓市值约269.41亿美元，占投资组合比例为3.32%，较上季度持仓数量增加了2.60%。 微软(MSFT.US)位列第三，持仓约5136万股，持仓市值约248.39亿美元，占投资组合比例为3.06%，较上季度持仓数量减少5.86%。 智通财经APP获悉，根据美国证券交易委员会(SEC)披露，高盛(GS.US)递交了截至2025年12月31日的第四季度持仓报告(13F)。 据统计，高盛第四季度持仓总市值为8100亿美元，上一季度总市值为8200亿美元，环比下降约1.22%。在第四季度的持仓组合中，高盛新增671只个股，增 持3027只个股，清仓了555只个股。其中，前十大持仓标的占总市值的22.11%。 | 2025-12-31 | | | --- | --- | | 13F Activity | | | Market Value | $0.81t, Prior: $0.82t | | ...

It was a little more than a year ago that tech stocks fell sharply and briefly due to concerns that an artificial intelligence (AI) chatbot from a Chinese-based company, DeepSeek, could offer significant competition to ChatGPT and other models. While that led to a brief decline for Nvidia (NASDAQ: NVDA) and other tech stocks, they did end up recovering. But the concern around heavy spending on AI continues to weigh on investors' minds these days. And those fears may reach new heights as DeepSeek may be abo ...

以下文章来源于字母AI ，作者苗正 字母AI . 聚焦前沿科技，抢先看到未来。 这让全球游戏产业正在经历一场前所未有的危机。 祸不单行，AI技术的革新换代，也让游戏开发者们感到了危机。 生成式AI正以超出预期的速度替代游戏开发的每一个环节。从美术素材到NPC对话，从关卡生成到音效配 乐，AI工具正在大规模替代传统人力。 谷歌发布Genie 3世界模型的那一天，甚至直接引起了游戏公司股价集体暴跌。 如果AI能在一分钟内生成"类塞尔达"游戏，那么开发一款游戏就需要好几年的游戏厂商们，还有存在的必要 吗？ 正是这两股力量同时作用，才让整个行业出现了重塑的先兆。 来源 | 字母AI（ID:faceaibang） 作者 | 苗正 过去三十年，英伟达的显卡一直在推动游戏产业向前发展。《赛博朋克 2077》、《荒野大镖客 2》这些 3A 大作，都建立在显卡性能不断进步的基础上。 没有英伟达这三十年的持续研发，就没有今天规模超过3000亿美元的全球游戏产业。 但这个故事突然停止了。英伟达宣布无限期推迟新一代游戏显卡的研发，官方给出的理由是"内存供应受限， 优先供应数据中心"。 然而，恐慌之下，游戏行业真正的护城河也在显现，因 ...

Core Insights - The artificial intelligence sector is experiencing significant growth, with tech leaders expected to increase their spending on AI infrastructure to $400 billion in 2026, alleviating concerns about an AI bubble for the time being [1][2] Group 1: Industry Growth and Performance - Major companies like Nvidia, Micron, and Taiwan Semiconductor have consistently exceeded Wall Street earnings estimates, indicating robust growth in the AI sector [1][5][6] - AI adoption is widespread, with approximately 78% of businesses globally utilizing AI for at least one function, and 71% expected to use generative AI by late 2024 [3] - The United States leads in AI adoption with 29,618 firms, followed by India with 8,178 businesses [3] Group 2: Market Dynamics - The Dow Jones Industrial Average has surpassed the 50,000-point mark, driven by increased AI adoption in traditional sectors, as investors shift focus from software to AI-related stocks [2] - Despite a strong performance in 2023 and 2024, AI stocks showed more subdued growth in 2025, raising questions about Wall Street's ability to accurately gauge the AI boom [4][10] Group 3: Company Developments - Meta has announced a $6 billion partnership with Corning to supply fiber optic cables for new data centers, with expectations of a "major AI acceleration" in 2026 [7] - Companies like Walmart are expanding AI applications, such as AI-powered drone delivery, to enhance operational efficiency [8] Group 4: Future Outlook - Analysts predict that the AI boom will continue to gain momentum in 2026, with ongoing transformations in traditional sectors leading to improved efficiency and profitability [11]

受第四季度业绩不及预期及2026年展望疲软拖累，法国工业软件巨头达索系统（Dassault Systemes SE）周三欧股早盘一度暴跌21%，接近创下上 市以来最大盘中跌幅。该股在巴黎交易所开盘后即触发短暂交易暂停，目前跌幅仍维持在19%附近。 据彭博汇编数据，达索系统第四季度营收为16.8亿欧元（约20亿美元），同比下降4.1%，低于市场预期的17.4亿欧元。公司预计2026年non-IFRS 营收增幅为3%至5%，同样未达分析师预期。这家曾被英伟达CEO黄仁勋称为"工业AI前沿中心"的企业，正面临传统软件业务被新兴AI工具加速 替代的担忧。 尽管公司此前将AI技术浪潮视为工业软件升级的重要驱动力，最新业绩却反映出其转型进程不及预期。摩根大通分析师Toby Ogg团队在报告中指 出，公司给出的增长预测"甚至低于最悲观投资者的预期"。面对来自生成式AI等新兴工具的竞争，达索系统的疲弱指引进一步加剧了市场对传统 工业软件业务护城河收窄的担忧。 英伟达供应商遭遇挫折 尽管英伟达是达索系统的客户之一，后者为其提供生成式3D虚拟环境软件，但这一合作关系并未能缓解市场对业绩疲软的强烈反应。 英伟达CEO黄仁勋上周接受 ...

Market Analysis by covering: S&P 500, NVIDIA Corporation, Walmart Inc. Read 's Market Analysis on Investing.com ...

Core Insights - Dassault Systemes, a software company, experienced a significant decline in its stock value, losing 20% after issuing a profit warning [1] Company Summary - The company is recognized by Nvidia's Jensen Huang as being central to the upcoming industrial advancements in AI [1]

Core Viewpoint - Nvidia stock has seen significant gains due to its leading position in the AI chip market, but Broadcom is emerging as a substantial competitor that could challenge Nvidia's dominance [1] Company Analysis - Nvidia is recognized as the dominant provider of AI chips, which has contributed to its stock performance [1] - Broadcom is identified as the biggest threat to Nvidia's market position, indicating a potential shift in competitive dynamics within the AI chip industry [1] Industry Implications - The competition between Nvidia and Broadcom highlights the evolving landscape of the AI chip market, where new entrants can disrupt established leaders [1] - The presence of strong competitors like Broadcom may lead to increased innovation and pricing pressures in the AI chip sector [1]

Group 1 - The core viewpoint of the report indicates that the AIDC sector remains buoyant, with explosive growth in electricity demand and power equipment requirements [1] - The U.S. Department of Energy predicts that AIDC electricity demand will increase from 176 TWh in 2023 to between 325-580 TWh by 2028, raising its share of total U.S. electricity demand from 4.4% to 6.7%-12% [1][8] - The aging U.S. power grid, with 70% of transformers exceeding their 25-year design life and a backup load rate of only 20%, is under pressure to meet the surging electricity demand driven by AI [1][8] Group 2 - North American tech giants are significantly increasing their capital expenditures, with Amazon planning $200 billion in 2026 (up 50% YoY), Google estimating $175-185 billion (up 91%-102% YoY), and Meta projecting $115-135 billion (up 59%-87% YoY) [1] - Domestic internet companies in China, such as Alibaba, plan to invest between 380 billion to 480 billion yuan in AI infrastructure and cloud computing over the next three years, while ByteDance expects to reach 160 billion yuan in capital expenditure by 2026 [1] Group 3 - The transition to 800V HVDC is being accelerated by companies like NVIDIA, which plans to shift to this system by 2027, while domestic manufacturers are expected to achieve initial shipments by the second half of 2026 [2] - The 800V HVDC system is anticipated to improve efficiency, reliability, and reduce copper usage by approximately 45%, addressing the high-density computing power requirements [2] Group 4 - The global liquid cooling market is projected to reach approximately $15 billion (around 105 billion yuan) by 2026, with a compound annual growth rate (CAGR) of about 30% from 2026 to 2028 [6] - The penetration rate of liquid cooling in AI data centers is expected to rise from 14% in 2024 to 40% in 2026, driven by the increasing power demands of chips like Google's TPU and NVIDIA's upcoming Rubin series [6] Group 5 - North America faces a significant electricity supply gap, with AIDC electricity demand expected to grow from 8.9 GWh in 2025 to 190 GWh by 2030, reflecting a CAGR of approximately 84% [8] - The supply gap for transformers in North America is estimated at 30%, with Chinese manufacturers holding 60% of global transformer production capacity, indicating a favorable outlook for Chinese transformer exports [9]