Agent 重构互联网，谁将受益于线上内容的“帕累托效应”？｜AGIX PM Notes

Core Insights - AGIX aims to capture the essence of the AGI era, similar to how Nasdaq 100 represented the internet era, indicating a significant technological paradigm shift expected over the next 20 years [2] - The article discusses the implications of the recent Google antitrust case and its potential impact on the search engine market, emphasizing the need for data sharing to foster competition [10][11][12] Market Performance - AGIX showed a weekly performance of 2.76%, year-to-date (YTD) return of 20.28%, and a return of 55.02% since 2024, outperforming major indices like S&P 500, QQQ, and Dow Jones [5][19] - The overall trading activity in North America and Europe has increased, while demand in China has slowed down, with a notable shift in fund allocations towards industrial sectors [19][20] AI and Antitrust Developments - The court ruled that Google does not need to sell its Chrome browser but must share data to maintain its search monopoly, which could lead to a more competitive search market [21][22] - OpenAI's projected cash burn has significantly increased to $115 billion by 2029, necessitating the development of proprietary data center chips to manage costs [24][25] Company Updates - AppLovin and Robinhood are set to be included in the S&P 500 index, which is expected to positively impact their stock prices [26] - Broadcom's revenue grew by 22% year-over-year, with expectations of AI semiconductor revenue reaching $6.2 billion in the next quarter, bolstered by a $10 billion agreement with OpenAI [26] Industry Trends - The article highlights a potential shift towards decentralized search engines, where smaller competitors can leverage shared indexing data to enhance their offerings [12][13] - Cloudflare is exploring a "pay per crawl" model to facilitate content indexing, which could reshape the value exchange in the content creation ecosystem [14][15][16]