Hua Er Jie Jian Wen·2025-12-02 23:19Market Overview - Global markets received a brief respite with indications of a potential Federal Reserve chair nomination for Hassett by Trump, alongside stable Japanese bond auctions [2][9] - The S&P 500 and Nasdaq saw gains, while small-cap stocks declined due to ongoing concerns about the competitive landscape among tech giants [2][9] - Bitcoin surged over 6%, recovering to above $90,000, while Ethereum rose more than 8% [2][9] Key News - Trump hinted at announcing the new Federal Reserve chair early next year, strongly suggesting Hassett as the candidate [3][9] - The American Retail Federation reported over 200 million shoppers during the Thanksgiving holiday shopping period, exceeding previous forecasts [3][9] - OpenAI initiated a "red alert," pausing its advertising business to focus on optimizing ChatGPT in response to competitive pressures from Google's Gemini [3][10] - Amazon launched its AI chip Trainium 3, which is faster and more energy-efficient, along with four new Nova 2 models [3][11] - Nvidia's CFO stated that the $500 billion chip orders do not include any collaboration with OpenAI, and a $100 billion agreement is still under negotiation [3][12] Company Developments - OpenAI is accelerating the development of a new model named "Garlic" to compete with Google's advancements in AI [17] - Nvidia's new collaboration with Mistral aims to enhance efficiency and precision across various scales [20] - Luma AI, backed by Nvidia, announced a significant expansion plan following a $900 million funding round, aiming to compete in the generative video and "world model" sectors [21] Industry Insights - The AI sector is expected to see intensified competition in 2026, with major players like Alibaba, Tencent, and ByteDance vying for dominance in AI cloud and chatbot technologies [15] - The brain-computer interface industry is projected to reach a global scale of $40 billion by 2030, driven by policy support and technological advancements [25] - The satellite internet industry in China is anticipated to experience rapid growth, with 2025 marked as a significant year for commercialization [27]