Key Takeaways Micron Technology posted 57% revenue growth in Q1 FY26, with EPS up 167% year over year.2026 estimates for MU call for 99.7% revenue growth and 307.5% EPS growth.TSM expects AI revenue CAGR above 50% but faces margin pressure from global expansion.Micron Technology, Inc. (MU) and Taiwan Semiconductor Manufacturing Company (TSM) are key players in the artificial intelligence (AI) semiconductor ecosystem, benefiting from surging demand for data center and AI-driven computing. Micron provides the ...

H&H International Investment （段永平美股持仓主体）披露的最新 13F 文件显示，截至 2025 年 4 季末，组合整体持仓市值大约 175 亿美元，较9月底的 147 亿美元增加了 19% 左右。 2024年底的时候，这个组合市值大约是145亿美元。 持股结构上也发生了一些变化，如下表所示： | 排名 | 证券名称 | 行业 | 持仓股数 | 持仓市值(美元) | 持仓占比 | 变动情况 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 苹果(AAPL) | 信息技术 | 34,829,107 | 8,796,983,713 | 50.30% | -7.09% | | 2 | 伯克希尔(BRK.B) | 美部 | 7,176,196 | 3,607,114,919 | 20.63% | 38.24% | | 3 | 英伟达 (NVDA) | 信息技术 | 7,237,100 | 1,349,719,150 | 7.72% | 1110.62% | | ব | 拼多多(PDD) | 消费 | 11,536,694 | 1,308 ...

英伟达(NVDA.US)位列第三，持仓约724万股，持仓市值约13亿美元，占投资组合比例为7.72%，持仓数量较上季度激增1110.62%%。 拼多多(PDD.US)位列第四，持仓约1156万股，持仓市值约13亿美元，占投资组合比例为7.48%，持仓数量较上季度增加34.55%。 谷歌-C(GOOG.US)位列第五，持仓约186万股，持仓市值约6亿美元，占投资组合比例为3.33%，持仓数量较上季度增加2.48%。 投资大佬段永平美股持仓主体H&H International Investment披露了截至2025年12月31日的第四季度持仓报告(13F)。据统计，H&H第四季度美股持仓总市值达 175亿美元，上一季度总市值为147亿美元。H&H的持仓组合中新增3只个股，增持了6只个股，减持了5只个股，清仓了0只个股。其中前十大持仓标的占总 市值的99.66%。 | 2025-12-31 | | | --- | --- | | 13F Activity | | | Market Value | $17.5b, Prior: $14.7b | | Inflows (Outflows) as % of | +13. ...

公众号记得加星标⭐️，第一时间看推送不会错过。 特斯拉首席执行官埃隆·马斯克在社交媒体上发布了一则招聘启事，寻求在韩国发展半导体行业的人 才。 "我正在努力弄清楚的事情之一是——我们如何才能生产出足够的芯片？"马斯克周四在特斯拉年度股 东大会上说道。 特斯拉目前依赖于代工芯片制造商台积电。以及三星电子。马斯克表示，他也在考虑与美国芯片公司 英特尔合作，以生产其芯片设计。他还表示，正在考虑与英特尔合作。 "但即使我们从供应商那里推断出芯片生产的最佳情况，仍然不够，"他说。 特斯拉可能需要建造一座"巨型"芯片制造厂，马斯克称之为"特斯拉超级芯片制造厂"。"我想不出还 有什么其他办法能达到我们所需的芯片产量。" 微芯片是几乎所有现代技术的大脑，包括从智能手机等消费电子产品到大型数据中心的一切，随着人 工智能的蓬勃发展，对微芯片的需求也急剧增长。 16日（当地时间），CEO马斯克在其X（原Twitter）账号上转发了特斯拉韩国的招聘公告，并附上了 几个太极旗表情符号。他在评论中写道："如果你住在韩国，想从事半导体设计、制造或软件方面的 工作，那就加入特斯拉吧。" 此前，特斯拉韩国公司发布了"人工智能（AI）芯片设计工 ...

报告举例称，梅赛德斯-奔驰集团正利用英伟达(NVDA.US)的Omniverse平台，对工厂进行"虚拟化改 造"，以尽量减少生产中断；而特斯拉(TSLA.US)在最新财报电话会上，也将机器人业务作为核心关注 点之一。 在产业链上游，分析师重点提及为机器人和物理AI提供底层支撑的软件与硬件厂商，包括台积电 (TSM.US)、三星电子以及英伟达等半导体与基础设施供应商。同时，执行具体物理动作的机器人硬件 与运动控制系统，以及为其提供能源基础的电池环节，也被视为关键组成部分，其中包括亿纬锂能 (300014)和宁德时代(03750)等厂商。 巴克莱还将部分企业归类为"赋能者"，即要么直接制造完整机器人系统，如特斯拉；要么通过技术与平 台塑造更广泛生态体系，如亚马逊(AMZN.US)。 物理AI的应用趋势已在大型物流和零售体系中显现。分析师指出，亚马逊目前在其履约网络中已部署 超过100万台机器人，但这一规模"很可能仍只是长期潜力的一小部分"。类似趋势也正在沃尔玛 (WMT.US)等大型零售商的运营体系中逐步展开，进一步印证机器人与自主机器市场的广阔前景。 巴克莱主题固定收益研究主管Zornitsa Todorova ...

Group 1: Core Insights - The internet technology sector is experiencing significant developments in AI technology breakthroughs, policy support, and industry collaboration during the week of February 11 to 18, 2026 [1] - ByteDance released a preview of its image generation model Seedream 5.0 on February 10, while promoting the video model Seedance 2.0, leading to a surge in demand for AI video generation [1] - Meta announced an expansion of its partnership with NVIDIA on February 18, planning to deploy millions of AI chips in data centers, which will boost AI computing power demand [1] Group 2: Stock Market Trends - The A-share technology sector saw significant capital inflow, with the semiconductor sector experiencing a net inflow of 5.69 billion yuan on February 12 [2] - Notable stocks included Zhaopin Co., which rose over 15%, and companies in the liquid cooling server concept, such as Yuke Technology and Capital Online, hitting the daily limit [2] - Google Cloud announced a price increase of 100% for North American data transfer fees starting May 1, prompting a reevaluation of the value in the IDC and computing leasing sectors [2] Group 3: Financial Report Analysis - SMIC reported a net profit of 1.22 billion yuan for Q4 2025, a year-on-year increase of 23.2%, with an annual capacity utilization rate of 93.5% [3] - TSMC's revenue in January surpassed 400 billion New Taiwan dollars for the first time, reflecting a year-on-year growth of 36.8%, indicating strong demand for AI chips [3] - Both companies exceeded expectations, highlighting the robust health of the semiconductor industry chain [3] Group 4: Institutional Perspectives - A Bank of America report indicated that China's AI industry is at a critical turning point, with the explosion of video models driving a surge in computing power demand [4] - There is a noticeable divergence between the US and Chinese AI industries, with US tech stocks under pressure due to concerns over return on investment, while China's model commercialization accelerates [4] - New antitrust compliance guidelines have been introduced, encouraging platform companies to shift from "involution" to innovation, which is beneficial for the long-term health of the ecosystem [4]

Group 1 - The robot industry is at a critical turning point for mass production and commercialization, with companies like Yushu Technology and Magic Atom investing heavily in marketing during the 2026 Spring Festival Gala [2] - The electric grid investment in China is expected to reach approximately 4 trillion yuan during the "14th Five-Year Plan" period, with a 40% increase compared to the previous plan, focusing on new power system construction and high-voltage transmission [3] - Major technology stocks have seen a market value decline of over $1.3 trillion since January 2026, leading investors to focus more on short-term financial transparency [3] Group 2 - The AI competition between Alibaba and ByteDance has intensified, with Alibaba launching Qwen3.5-Plus and ByteDance introducing Seedance 2.0, marking a new phase in China's AI landscape [3] - The gold and silver prices experienced significant fluctuations due to various market factors, including reduced expectations for Federal Reserve interest rate cuts [4] - The film market during the Spring Festival saw record-breaking performance, with total box office exceeding 1 billion yuan, led by "Fast and Furious 3" [5]

Core Viewpoint - Tiger Global Management has significantly reduced its holdings in several major U.S. tech stocks during the fourth quarter of 2025, indicating a trend among large institutional investors to decrease exposure to technology giants [1][2]. Group 1: Tiger Global Management's Holdings - Tiger Global reduced its stake in TSMC by 18.6%, ending the quarter with 3.7 million shares, marking the largest reduction among its holdings [1]. - The firm cut its Microsoft holdings by 16.4% to 5.5 million shares, and its Amazon stake decreased by 9.3% to 10 million shares [1]. - Nvidia holdings were down by 6% to 1.1 million shares, while Meta Platforms' Class A shares saw a slight reduction of 2.4% to 2.8 million shares [1]. Group 2: Other Institutional Investors' Actions - UBS also reduced its positions in several tech stocks during the same quarter, including an 11.47% cut in Nvidia and a 10.57% reduction in Apple [1]. - Goldman Sachs similarly decreased its holdings in Microsoft, Tesla, Broadcom, and Meta [1]. - SoftBank completely divested its holdings in Nvidia during the fourth quarter of 2025, while Berkshire Hathaway reduced its Apple stake by 4.3% to approximately 228 million shares [1]. Group 3: Reporting Context - The 13-F filings reflect the holdings of institutional investors as of December 31, 2025, and must be submitted within 45 days after the end of each fiscal quarter, not accounting for any changes in the first quarter of 2026 [2]. - Tiger Global, founded in 2001 by Chase Coleman, is known for its significant investments in the technology and internet sectors, making its portfolio adjustments closely watched by the industry [2].

Core Insights - The article discusses the latest investment moves of prominent investor Duan Yongping, particularly through his investment account "H&H," which holds a portfolio valued at $17.489 billion as of Q4 2025 [2]. Investment Portfolio Summary - As of Q4 2025, H&H's portfolio consists of 14 U.S. stocks, with a total market value of $17.489 billion, approximately 120.8 billion RMB [2]. - Duan has recently invested in three AI-related companies: CoreWeave, Credo Technology, and Tempus AI, with respective portfolio weights of 0.12%, 0.12%, and 0.04% [2]. - Major increases in holdings include Berkshire Hathaway, NVIDIA, Pinduoduo, Google C, and Microsoft, while reductions were made in Apple, Occidental Petroleum, Alibaba, Disney, and ASML [2]. Key Holdings - The top holdings in H&H's portfolio include: - Apple: $8.797 billion (50.3% of the portfolio) - Berkshire Hathaway B: $3.607 billion (20.63% of the portfolio) [2][4]. AI-Related Investments - CoreWeave focuses on providing AI computing power through high-performance GPU clusters, which are essential for AI model training [5]. - Credo Technology specializes in high-speed interconnect chips and optical modules for data centers, crucial for efficient data transmission in AI servers [6]. - Tempus AI applies AI in precision medicine, particularly in oncology, by integrating genetic and clinical data for personalized treatment plans, although it faces long commercialization cycles and regulatory challenges [6]. Investor Sentiment on AI - Duan Yongping has expressed a strong interest in AI, emphasizing its potential to significantly enhance efficiency and transform industries [8]. - He acknowledges the risks associated with the AI sector, suggesting that many companies may not survive, but those that do could become the next major players like Google or Amazon [8][9].

【导读】深V走势 中国基金报记者 泰勒 大家好啊，今晚不平静呀，泰勒稿子一度重写。一起看看发生了什么事情。 美股深"V" 2月17日晚间，美股盘初，科技巨头的抛售一度令股市承压。近期，对人工智能前景的持续焦虑不仅重 创了科技板块，还波及了多个行业的数十家公司。比特币延续了2月份的跌势，黄金价格也录得下跌。 其中，道指跌一度超300点，纳指一度跌超1.2%。截至发稿，跌幅有所收窄，美股上演深"V"走势。 费城半导体指数（衡量芯片制造商表现的关键指标）一度跌超2%。 软件股指数ETF暴跌3%。 摩根士丹利的克里斯·拉金表示，AI颠覆和持续的科技股轮动掩盖了上周的就业和通胀数据，除非本周 的经济数据带来显著惊喜，否则这种态势可能会再次上演。 他表示："市场仍接近历史高点，但对一些投资者来说可能并非如此，因为剧烈的抛售似乎在涨势刚刚 开始时就将其瓦解，如果这一主题持续下去，即使整体趋势向上，市场也可能面临坎坷。" 油价、黄金、白银暴跌 17日晚间，石油价格也在跳水。 科技股普遍下跌，但跌幅均有所收窄。 | ▽ 筛选 | | 最新价 = | 涨跌幅: □ | | --- | --- | --- | --- | | 甲骨 ...