Sou Hu Cai Jing·2025-11-26 04:39Group 1 - The core viewpoint is that the AI bubble has not burst, but rather the bubble surrounding OpenAI has deflated, while Google's stock continues to rise, indicating its strength in the AI sector [1] - Google's Gemini 3 model, launched on November 18, has significantly impressed users and contributed to its stock performance [3] - The stock prices of companies providing resources to OpenAI, such as Oracle and Nvidia, have recently declined, indicating a shift in market sentiment [1][3] Group 2 - The analysis of the Nasdaq 100 index shows that there have been only 11 extreme trading days since 1985 where the index opened more than 1.8% higher and closed more than 2% lower [8] - Gemini's ability to generate and execute web scraping code directly within its ecosystem enhances its utility compared to other AI models [4][9] - The demand for computational power and energy in AI continues to grow, with Nvidia's GPUs facing competition from Google's TPUs, as evidenced by Meta's recent decision to procure TPUs from Google [9] Group 3 - The consumer sector is facing challenges, with stocks like Yanghe and other consumer goods experiencing significant declines, indicating difficulty in generating profits in this segment [10] - There is notable internal division within the Federal Reserve regarding interest rate decisions, with fluctuating probabilities for rate cuts, reflecting uncertainty in the economic outlook [11]