在这个被称为"AI兑现期"的关键分水岭，资本市场变得极其现实。过去几年，只要科技巨头们抛出千亿 级的资本开支计划，讲述一个改变世界的通用人工智能愿景，华尔街就会毫不吝啬地给出高估值。但如 今，风向变了。市场不再为单纯的"投入规模"买单，而是拿着放大镜寻找真金白银的回报率。 当时间指针拨入2026年，全球科技圈的空气中弥漫着一种微妙的焦灼感。 强如OpenAI，尽管其ChatGPT每周服务超过8亿用户，2025年斩获了130亿美元的惊人收入，但高达80亿 美元的现金亏损依然让其深陷"高收入、高亏损"的泥潭。海外巨头们正集体面临一个尴尬的"投入陷 阱"：巨额资本开支疯狂吞噬当期利润，但AI能力却难以深入用户高频场景，变现路径依然停留在卖算 力或勉强嵌入广告的初级阶段。 就在全球市场对AI回报周期产生集体质疑之时，作为中国乃至全球AI引领者的百度，交出了一份堪 称"破局"的答卷。根据其发布的2025年第四季度及全年财报，百度2025年总营收达到1291亿元，其中AI 业务营收高达400亿元。而在第四季度，百度总营收为327亿元，AI业务收入已经占到百度一般性业务 收入的43%，远超市场预期。 在这场全球AI价值变现 ...

Core Points - The CoreWeave class action lawsuit has been initiated against CoreWeave, Inc. and certain executives for alleged violations of the Securities Exchange Act of 1934 during the class period from March 28, 2025, to December 15, 2025 [1] - CoreWeave is positioned as an AI cloud computing company and had announced a significant deal worth up to $11.9 billion with OpenAI shortly before its IPO [2] - The lawsuit claims that CoreWeave overstated its ability to meet customer demand and failed to disclose risks associated with reliance on a single third-party data center supplier, which could negatively impact revenue [3] Financial Impact - On October 30, 2025, Core Scientific announced it did not receive enough shareholder votes to approve its merger with CoreWeave, leading to a more than 6% drop in CoreWeave's share price [4] - Following a revenue guidance reduction on November 10, 2025, due to delays from a third-party data center developer, CoreWeave's shares fell over 16% [5] - A December 15, 2025 article revealed further delays in data center delivery, causing an additional 3.4% decline in CoreWeave's share price [6] Legal Process - Investors who purchased CoreWeave securities during the class period can seek appointment as lead plaintiff in the class action lawsuit, representing the interests of all class members [7] Firm Background - Robbins Geller Rudman & Dowd LLP is a leading firm in complex class action litigation, having recovered over $916 million for investors in 2025 and a total of $8.4 billion over the past five years [8]

Core Insights - Google has launched Nano Banana 2, which emphasizes "speedy experience" and "professional image quality," with a significant new feature of "real-time connectivity" that enhances its capabilities beyond mere image generation [1][10]. Group 1: Product Features - Nano Banana 2 integrates with Gemini's search capabilities, allowing the model to understand, retrieve, and generate images that are more aligned with real-world information structures [1]. - The model can generate detailed street scenes and character interactions that are nearly indistinguishable from real photographs, showcasing its advanced rendering capabilities [2][3]. - The "real-time connectivity" feature allows for precise generation of images based on real geographical and meteorological data, enhancing the model's utility in various contexts [5][41]. Group 2: Competitive Landscape - In the latest Artificial Analysis rankings, Nano Banana 2 secured the top position, with its image editing capabilities ranking third, while being priced at half of its closest competitor, OpenAI [8][9]. - The competition in the image generation sector has intensified, with leading models showing minimal score differences, indicating a close race among top players [9]. Group 3: User Experience and Applications - Users have reported that Nano Banana 2's ability to generate high-quality images with accurate text rendering has significant implications for marketing materials and global communication [45]. - The model's enhanced consistency in character design and scene elements allows for seamless storytelling in comics and branding [51]. - The ability to visualize complex concepts and data efficiently positions Nano Banana 2 as a transformative tool in education, research, and data analysis [43][42]. Group 4: Technical Upgrades - The model has improved text rendering and translation capabilities, allowing for natural integration of text within images, which is crucial for marketing and promotional content [45]. - It supports multiple resolutions, including a new 512px option optimized for low-latency scenarios, making it suitable for rapid prototyping and iteration [64]. - The visual quality of generated images has been upgraded, with more natural lighting, richer materials, and sharper details, making it a viable tool for professional use [66].

此前，阿里首款自研AI眼镜夸克2025年11月27日正式发布，深度搭载千问AI助手。功能上，该产品深 度融合支付宝、高德地图等阿里生态核心场景，支持导航、支付、实时翻译等实用功能，吸引不少消费 者排队到线下门店体验。 图片来 源：视觉中国 2月27日，千问将在西班牙巴塞罗那举行的2026年世界移动通信大会（MWC）上发布首款同名AI眼 镜，并于3月2日开启线上线下全渠道预约。 智通财经了解到，千问APP点外卖、打车等能力，也将集成到千问AI眼镜等终端设备。据阿里内部人士 透露，除AI眼镜之外，千问还会在年内陆续发布AI指环、AI耳机等产品，并面向全球市场发售。 2月23日，千问曾发布数据，春节期间，用户在千问上"一句话下单"近2亿次，有超过400万的60岁以上 用户让千问帮忙下单。不限于手机屏幕，阿里也希望未来将这些能力无缝延伸至AI眼镜等硬件产品 中，实现从"指尖交互"到"场景化交互"的跨越。 去年12月，阿里成立千问C端事业群，由阿里巴巴集团副总裁吴嘉负责。据悉，该事业群由原智能信息 与智能互联两个事业群合并重组而来，包含千问APP、夸克、AI硬件、UC、书旗等业务。 千问的硬件布局，并非个例。当前，全球 ...

格隆汇2月27日｜五角大楼要求Anthropic按"所有合法用途"授权Claude，Anthropic因担忧"大规模监控"和"完全自主攻击"拒绝妥协，称"无法昧着良心答应"。 军方威胁若周五前不答应将撕毁2亿美元合同，而马斯克旗下的xAI已同意该条款。值得注意的是，在模拟战争游戏中，顶级大模型95%的情况下会建议使用 核武器。 200多名谷歌和OpenAI的员工签署公开信，要求自家公司与Anthropic一道，"搁置分歧，团结一致，继续拒绝美国防部提出的使用模型进行国内大规模监控 和在无人类介入的情况下执行自主杀人的要求"。 SIGNATORIES Google: 168 signatories OpenAl: 46 signatories Current employee, Google, Staff Research Scientist Rif A. Saurous Current employee, Google, Principal Research Scientist Kevin Slagle Current employee, OpenAl, Research Scientist Tom Scha ...

南方财经 21世纪经济报道记者吴斌 报道 随着华尔街对AI热潮是否可能演变为泡沫的担忧加剧，英伟达的惊艳业绩未能打消投资者的担忧。 在美国东部时间2月25日的盘后交易中，英伟达股价最初上涨4%，随后回吐涨幅，并最终在26日收跌 5.45%。 在大跌之前，英伟达给出的第一财季业绩展望轻松超出分析师平均预期，且第四财季营收大幅增长 73%。 英伟达炸裂财报未能重振AI交易，26日纳指大跌逾1%。标普500指数收跌0.54%，报6908.86点；纳指跌 1.18%，报22878.38点；道琼斯工业平均指数涨0.03%，报49499.2点。 但分析师仍越来越担心英伟达依赖少数几家被称为"超大规模云服务商"的大型数据中心运营商，以及 OpenAI等AI初创企业。Visible Alpha研究主管Melissa Otto表示，英伟达面临"很多担忧"，涉及其所依赖 的大型科技公司和初创企业客户如何为数千亿美元的AI基础设施支出提供资金。 微软、谷歌、亚马逊和Meta今年合计预计资本支出为6600亿美元，主要集中在AI数据中心。这些科技 巨头现在面临着在烧钱如山的情况下进入债券和股票市场融资的前景。 英伟达缘何陷入财报下跌" ...

2月27日，美东时间周三盘后，英伟达公布的财报显示，该公司业绩大获成功：第四财季利润几乎翻了 一番，营收也创下历史新高。 但是，英伟达股价却呈现出截然相反的悲观表现。 JonesTrading 首席市场策略师奥罗克（Mike O'Rourke） 在英伟达财报会后写道："投资者们知道天堂里 出问题了。" 任何一家公司的投资价值远不止其盈利数据所能体现的，而这正是奥罗克和其他人工智能空头们所关注 的重点。 英伟达首席财务官Colette Kress在财报会上承认，2026 年全球头部的五大云计算服务商和超大规模云计 算企业贡献了英伟达数据中心业务超50%的营收，这不免再次加重了华尔街对英伟达数据中心需求过于 集中的担忧。 这家处于全球人工智能交易中心地位的"AI宠儿"的股价在周三盘后下跌，周四收盘大跌5.5%。这是自 去年4月以来的最大单日跌幅，近2600亿美元（约1.7万亿元人民币）市值一夜蒸发。 其他主要芯片制造商的股价也大幅下跌，例如博通股价下跌超过3%，AMD跌3.41%，而台积电下跌 2.8%。 英伟达的"魔咒" 英伟达的股价大跌，部分原因在于英伟达的"魔咒"：自2024年8月开始，不论财报好坏，英伟达 ...

英伟达在财务报告中量化了对其他公司的整体投资规模，但现金流量文件并未披露投向各公司的具体资 金规模。 来源：环球市场播报 英伟达公司在上一财年大幅加码对合作伙伴与客户的股权投资，动用超过700亿美元现金，试图在竞争 日趋激烈的人工智能（AI）芯片市场中巩固需求基础，并维持主导地位。 根据公司最新披露的现金流量表，英伟达在该财年购买了406亿美元的可交易证券，以及175亿美元的非 流通或私募证券，明显高于上一财年分别为266亿美元和15亿美元的水平，整体规模超过翻倍。 英伟达还首次披露了其去年与AI初创公司Groq Inc． 达成的一项非同寻常交易的部分财务细节。英伟达 在去年12月表示，公司将付费获得使用Groq技术的权利，并计划将其芯片设计整合进未来产品。作为 协议的一部分，Groq的首席执行官及多名高管也加入了英伟达。 这些投资再次引发市场对英伟达所谓循环交易的讨论。在这类交易中，英伟达向客户或合作方——例如 OpenAI和CoreWeave公司——投入资金，而这些企业随后又采购英伟达的AI加速器，用于建设数据中心 和AI服务平台。 该公司周三公布好于预期的财报后，首席财务官Colette Kress表示 ...

来源：环球网 路透社报道称，资料显示，庞若鸣毕业于上海交大及普林斯顿大学，曾在谷歌任职15年，2021年加入苹 果后，主导约100人的基础模型团队，为苹果智能功能搭建核心技术基础。 去年7月，他跳槽至Meta，负责该公司超级智能实验室（Superintelligence Labs）的AI基础设施工作，该 实验室由Meta创始人扎克伯格亲自推动，聚焦下一代AI模型及超级智能研发。 据悉，OpenAI对庞若鸣展开了长达数月的强势招募，最终促成其于上周离职Meta、加入OpenAI。作为 AI行业的"抢人标杆"，OpenAI近年常以高出同行20%-30%的薪资吸纳顶尖人才，此次挖角也延续了这 一策略。 【环球网科技综合报道】2月27日消息，据《The Information》援引OpenAI发言人消息，该公司已成功 招募Meta旗下知名AI研究员庞若鸣（Ruoming Pang）。值得关注的是，庞若鸣七个月前才从苹果跳槽 至Meta，此次再度变动，凸显AI行业顶尖人才的激烈争夺态势。 截至目前，Meta与OpenAI均未回应路透社的置评请求。此次挖角正值两大巨头角逐超级智能赛道的关 键时期，庞若鸣的加入，有望进一步 ...

Media Consolidation - Paramount Global (PARA) is set to acquire Warner Bros. Discovery (WBD) for $111 billion after Netflix (NFLX) withdrew its competing bid, citing a lack of financial attractiveness at the current price [10] - The merger is one of the largest media deals in history, but it faces regulatory scrutiny from California's Department of Justice, which is investigating to ensure it does not harm competition or consumers [3][10] Hyundai's Investment in AI and Robotics - Hyundai Motor Group (HYMTF) announced a significant investment of 6.2 trillion won (approximately $4.3 billion) to build an AI-focused data center and a dedicated robot factory in South Korea, with completion expected by the end of 2029 [4][10] - The data center will support the company's autonomous driving and smart manufacturing initiatives, aiming to establish a dominant position in the global robotics value chain [5] Japanese Market Performance - Japan's TOPIX index reached an all-time high, driven by investor optimism and robust corporate earnings, reinforcing the "Japan is Back" narrative [6][10] - The yield on 20-year Japanese Government Bonds (JGBs) fell by 3 basis points to 2.935%, indicating a cautious approach from investors amid record equity performance [7][10] Pentagon's AI Negotiations - The U.S. Pentagon is in negotiations with Google (GOOGL) and OpenAI to establish limits on the use of AI in military applications, with employees advocating for strict boundaries against autonomous warfare [8][9] - Anthropic has reportedly declined to agree to certain military terms proposed by the Department of Defense, highlighting tensions between technological advancement and ethical considerations in national security [9]