Mei Ri Jing Ji Xin Wen·2025-11-26 02:31Group 1 - Alibaba's cloud revenue increased by 34% year-on-year, with AI-related product revenue achieving triple-digit growth for nine consecutive quarters [2] - Alibaba's capital expenditure for the quarter was 31.5 billion, with approximately 120 billion spent on AI and cloud infrastructure over the past four quarters [2] - The launch of Alibaba's AI assistant, Qianwen APP, saw over 10 million downloads within a week of its public testing, surpassing the growth rates of several well-known AI applications [2] Group 2 - Google is challenging Nvidia's dominance in AI chips, negotiating with Meta for the use of TPU chips worth billions in its data centers [3] - Google's new AI model, Gemini 3, has shown significant performance advantages over other models, achieving a 37.5% score on Humanity's Last Exam [3] - The AI arms race is driving high capital expenditures among cloud vendors, with North America's four major internet companies projected to spend a total of 95.8 billion in Q2 2025, a 64% year-on-year increase [3] Group 3 - The Communication ETF (515880) has seen a strong rebound, with a year-to-date increase of over 87%, making it the top-performing ETF in A-shares [1] - The ETF's composition includes over 50% in optical modules, with "optical modules + servers + optical fibers + copper connections" accounting for over 80% [4] - The ETF's assets have grown nearly 160% this year, reaching approximately 12 billion, leading its category [4]