1.当前美国算力投资是在通用人工智能越来越近的趋势下，所做的超前基础设施布局。总体上，当前美国算力基建已有泡沫迹象，但尚未到失 控的边缘，虽不能完全排除算力泡沫破裂可能性，但无论从当前大模型技术的快速迭代，大模型企业高速增长的营收，以及各行业上云落地的 需求，都让这一巨额投资具备一定的合理性。 2.美国当前规划建设的大型数据中心项目总装机容量已突破 45 吉瓦（GW），这场建设热潮预计将吸引超 2.5 万亿美元投资。大西洋月刊文章 设想了一种"崩盘机制"，即当这些巨额投资未能按预期变现、资本市场情绪转向、防御性抛售开始，就可能触发系统性的回落，科技股回落→ 估值压缩→投资放缓→AI 基础设施、芯片、数据中心等领域连锁受累。 3.大模型企业的增长斜率足够高，对芯片供应的需求持续提升。从收入来看，以OpenAI和Anthropic为代表的美国企业在个人用户和企业用户 两端均已实现可观收入。如预计今年底OpenAI的年化收入将超过200亿美元，比之前预测的130亿美元大幅增长，相比去年的40亿美元更是增 长5倍，并计划到2030年增长至数千亿美元。 4.今年三季度，亚马逊、微软和谷歌的云计算收入受AI拉动，分别达3 ...

The GENIUS Act pulls bitcoin further into the regulatory perimeter through its treatment of bitcoin-backed stablecoin reserves, but it does not solve the underlying volatility problem.Strategy (the former MicroStrategy), Block and Tesla now carry sizable bitcoin positions on their balance sheets, leaving earnings exposed to rapid revaluation.Bitcoin’s price has tumbled from record highs above $125,000 in early October to the low-$80,000s, erasing months of gains and sparking “peak bitcoin” fears.Through mid ...

Tesla Inc. (NASDAQ:TSLA) AI lead Ashok Elluswamy has weighed in on the automaker's chip-building efforts amid an artificial intelligence and self-driving push.Chips Co-Designed With Tesla AI Software TeamsElluswamy, quoting a post by the CEO on the social media platform X, said that the chips that Tesla is building are "heavily co-designed with the Tesla AI software teams." He also added that the chips were designed to achieve better margins on "perf per Watt and perf per dollar" than other AI hardware syst ...

Core Insights - Tesla is a compelling company with significant growth potential, but its current stock price reflects high expectations for future performance, leaving little margin for error if growth takes longer than anticipated [2][5][10] Financial Performance - In Q3 2025, Tesla achieved total revenue of $28.1 billion, marking a 12% year-over-year increase, driven by record vehicle deliveries and strong demand for energy storage projects [3] - Automotive revenue increased by 6% year-over-year to approximately $21.2 billion, while the energy generation and storage segment saw a 44% revenue growth to around $3.4 billion [3] - Operating income for Q3 fell 40% year-over-year to $1.6 billion, with operating margin decreasing from 10.8% to 5.8% [4] Valuation Metrics - Tesla's stock currently has a price-to-earnings ratio of about 270 and trades at approximately 14 times sales, indicating a high valuation relative to its current revenue sources [5][9] - The market capitalization of Tesla stands at $1,301 billion, with a current stock price of $391.09 [9] Growth Initiatives - Tesla is investing heavily in artificial intelligence infrastructure and new product development, which has led to a 50% increase in operating expenses to around $3.4 billion [4][8] - The company aims to transition into high-margin businesses such as self-driving software and an autonomous ride-sharing network, but these initiatives require substantial capital and carry technical and regulatory risks [6][7] Investment Considerations - The current valuation may not leave sufficient room for risks associated with the expansion into new product lines, as operating expenses are rising faster than revenue [8] - A target entry price of around $220 per share is suggested, which would still reflect Tesla's position in the electric vehicle market and its growth opportunities [10][12]

投资者提问： 参见相关同类问题的回复。查看更多董秘问答>> 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 贵司为特斯拉机器人关节总成核心供应商。请问是否涉及高精密注塑件制造？若使用注塑设备，是否已 引入伊之密等国产品牌？相较日系设备，在交付周期与维护成本上是否有明显优势？是否计划加大国产 设备替代力度？ 董秘回答(震裕科技SZ300953)： ...

| 广汽 | 118.4 | -11% | 669.3 | -10% | | --- | --- | --- | --- | --- | | 长城 | 92.3 | 8% | 1535.8 | 8% | | 赛力斯 | 34.1 | -8% | 1105.3 | 4% | | 小鹏 | 31.3 | 218% | 544.7 | 120% | | 数据来源：各公司财报 | | | | | | 注: | | | | | | 汇率按11月20日央行外汇中间价计算 | | | | | | 丰田、本田数据按自然年计算 | | | | | | 通用汽车销量不含非控股合资公司销量 | | | | | | 吉利控股为吉利汽车(00175.HK) 母公司 | | | | 制图:21世纪经济报道 | 2025年即将进入尾声，不难发现，全球汽车产业压力重重，这从国内外主流车企最新公布的三季报可见一斑。 | 企业名称 | 销量 (万辆) | 同比增减 | 营业收入 | 同比增减 | | --- | --- | --- | --- | --- | | 丰田汽车 | 835.8 | 6% | 16723.8 | 8% | | 大众集团 ...

2025 年 11 月 24 日 行业研究●证券研究报告 人形机器人行业双周报(1110-1123)：宇树科技完 成上市辅导，特斯拉灵巧手自由度大幅升级 投资要点 周度行情回顾 2025 年 11 月 17 日至 11 月 21 日，人形机器人指数下跌 5.86%，沪深 300 指 数下跌 3.77%，人形机器人指数落后 1.91pct。 2025 年 11 月 10 日至 11 月 14 日，人形机器人指数下跌 2.82%，沪深 300 指 数下跌 1.08%，人形机器人指数落后 1.74pct。 周度热点回顾 宇树科技完成上市辅导。2025 年 11 月 15 日，据证监会官网《关于宇树科技股 份有限公司首次公开发行股票并上市辅导工作完成报告》，宇树科技完成上市辅 导。完成上市辅导后，宇树科技即将提交招股书。9 月 2 日，宇树科技曾在官方 媒体平台中透露，公司预计将在 2025 年 10 月至 12 月期间正式提交 IPO 申报 文件，披露详细的财务数据。 宇树推出轮式机器人 G1-D。11 月 13 日，宇树上线全新的数采训练全栈方案， 首次引入轮式双臂机器人 G1-D。G1-D 放弃了双足机器人复杂 ...

来源：环球网 【环球网科技综合报道】11月24日消息，特斯拉 Model Y 长续航全轮驱动版交付信息迎来调整，官方 微博显示其预计交付周期更新为 8-13 周，为意向消费者购车决策提供关键参考。 据悉，该版本搭载新型电池方案，CLTC续航达750km，双电机四驱系统实现4.3秒百公里加速。（旺 旺） ...

Tesla Inc. (NASDAQ:TSLA) has reportedly cleared a key Robotaxi hurdle, which could help the EV giant expand into Nevada.Tesla Completes Nevada Self-CertificationThe automaker has cleared the self-certification process for its Robotaxis, which indicates that it can deploy autonomous vehicles on the roads in the state, Business Insider reported on Friday.Tesla and the Nevada DMV didn't immediately respond to Benzinga's request for comment.Commercial operations for its Robotaxi would still require Tesla to rec ...

Elon Musk“You'll be able to tell your car take me home, go here, go there, anything, & it'll just do it. At an order of magnitude safer than a person. In fact, in the distant future, I think people may outlaw driving cars because it's too dangerous”https://t.co/8HvtUkUgQi ...