海外科技周报：微软领衔AIPC新品推出 加密现货ETF再添新军

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies [2]. Core Insights - The report highlights significant advancements in AI technology, particularly with Microsoft's launch of "Copilot+PC" and Nvidia's strong financial performance, indicating a robust growth trajectory in the AI and tech sectors [2][11][24]. - The approval of Ethereum spot ETFs by the SEC marks a milestone in the compliance of the crypto market, potentially driving further investment and interest in digital assets [2][24]. Summary by Sections 1. Overseas AI - The North American cloud vendors are increasing their capital expenditures, continuing to invest heavily in AI, with Nvidia's FY25Q1 results exceeding expectations, suggesting sustained high demand for computing infrastructure [2][24]. - Microsoft's Build 2024 developer conference introduced new AI functionalities, including lightweight language models and updates to their Cobalt 100 CPU, enhancing their cloud computing services [11][12]. - Nvidia reported FY25Q1 revenue of $26.04 billion, a year-over-year increase of 262%, with a net profit of $14.88 billion, reflecting strong demand for their AI infrastructure [24][26]. 2. Web3 and Crypto Market - The global cryptocurrency market capitalization increased to $2.56 trillion, with a notable rise in trading volume, indicating a bullish sentiment in the crypto space [2][24]. - The approval of Ethereum spot ETFs by the SEC is seen as a significant step towards the regulation and legitimacy of the crypto market, which could attract more institutional investment [2][24]. - The report includes a valuation analysis of MSTR, revealing a 95.07% premium on its core crypto assets, suggesting potential investment opportunities in this area [2][24].