Core Insights - Wall Street is experiencing a "Great Rotation," with investors moving away from high-flying technology stocks towards smaller companies and defensive sectors due to factors like "AI capex fatigue," a resilient U.S. economy, and expectations of a less-dovish Federal Reserve [1][3][10] Investment Trends - The five largest U.S. cloud and AI infrastructure providers, including Microsoft, Alphabet, Amazon, Meta, and Oracle, are projected to spend between $660 billion and $690 billion in capital expenditures by 2026, nearly doubling the spending levels of 2025 [2] - Pure-play AI companies like OpenAI and Anthropic are experiencing strong revenue growth, but their combined revenues do not match the significant infrastructure investments made in them [2] Market Performance - Approximately 65% of S&P 500 stocks are outperforming the index, indicating a broadening market breadth not seen in years, suggesting leadership is expanding beyond just mega-cap tech [4][10] - The State Street SPDR Portfolio S&P 500 Value ETF (SPYV) has increased by about 1.1% over the past month, while the State Street SPDR S&P 500 ETF Trust (SPY) has declined by 1.8% during the same period [5] Sector-Specific ETFs - The State Street Consumer Staples Select Sector SPDR Fund (XLP) has gained about 10% over the past month and 9.6% over the past year, indicating strong performance in non-cyclical sectors [6] - The First Trust Utilities AlphaDEX Fund (FXU) has risen by 7.8% in the past month and 22.9% over the past year, benefiting from the demand for utilities amid the AI boom [7] - The Vanguard High Dividend Yield ETF (VYM) has added approximately 4.7% over the past month, with an annual yield of 2.24%, appealing to investors seeking income in a volatile market [8] Small-Cap Performance - Small-cap stocks have outperformed large-cap stocks this year, supported by a domestic focus, dollar strength, and an improving earnings outlook, with the S&P SmallCap 600 index expected to return to positive growth in 2025 [11]

GPT 5.3% just came out about a week ago and it changed the world of coding. But it had a major flaw. It was extremely slow.But not anymore. Today, OpenAI just announced GPT 5.3% Spark. This is a smaller version of GPT 5.3% codecs and the first time they're deploying a model on the Cerebrris chipset.Cerebrus and OpenAI partnered together to deliver the fastest inference speeds on Earth. Cerebras makes wafer scale chips that are faster than any other chip on the planet. GPT 5.3% Codeex Spark is tuned for spee ...

Core Viewpoint - Pinterest's shares dropped over 20% in premarket trading due to a quarterly revenue forecast impacted by large U.S. retailers reducing ad spending amid tariff-related uncertainties [1] Group 1: Company Performance - Pinterest cut under 15% of its workforce, which CFO Julia Donnelly indicated could disrupt near-term performance as the company restructures its go-to-market teams [2] - The stock is expected to open at its lowest level since April 2020, reflecting ongoing challenges in the advertising market [3] Group 2: Competitive Landscape - Meta reported strong momentum in e-commerce advertising, while TikTok has managed to maintain its presence in the U.S. despite legal challenges [3] - Google is enhancing its commerce capabilities with updates to its Gemini chatbot and AI search, increasing competition for digital ad budgets [4] - Analysts predict the emergence of AI-powered Pinterest alternatives from major players like Meta, OpenAI, and Amazon [4] Group 3: Market Valuation - Pinterest's stock trades at 9.49 times the estimated earnings for the next 12 months, compared to 9.42 for Snap, 29.99 for Reddit, and 21.41 for Meta [5] - If premarket losses persist, Pinterest could lose over $2 billion from its market value of $12.52 billion [4]

Group 1 - Anthropic has completed a $30 billion financing round, achieving a post-money valuation of $38 billion [1] - OpenAI has released its first AI model based on Cerebras Systems' semiconductor chip, named GPT-5.3-Codex-Spark [1] - SoftBank's PayPay has filed for an IPO in the U.S., aiming to raise over $2 billion, with a projected profit of ¥103.3 billion (approximately $675 million) and revenue of ¥278.5 billion, showing significant growth [1] Group 2 - The U.S. January CPI data is set to be released, with JPMorgan predicting a month-over-month increase of 0.4% in core CPI, higher than the market consensus of 0.3% [2] - UBS has indicated that the market has not fully absorbed the disruptive risks of AI, particularly in the low-quality credit sector, predicting a slight increase in default rates by the end of 2026 [2] - A significant trend of global capital rebalancing is emerging, with $104 billion flowing into European, Japanese, and other developed market equity funds, compared to $25 billion into U.S. equity funds [3]

Core Viewpoint - Microsoft AI's chief executive warns that a majority of white-collar jobs may be automated within the next 12 to 18 months, a timeline that is significantly earlier than the expectations of the business community and policymakers [1][4]. Group 1: AI Impact on Employment - The report from Challenger indicates that in January 2023, 7,624 job losses were attributed to AI, accounting for 7% of total layoffs that month. By 2025, the total number of layoffs linked to AI is projected to reach 54,836 [1][4]. - Since the beginning of 2023, a total of 79,449 planned layoffs have been attributed to AI [1]. Group 2: Training AI with Human Labor - The startup Mercor has employed thousands of white-collar contractors, including professionals from fields such as medicine, law, finance, and engineering, to train AI systems that may eventually replace them. These contractors earn between $45 to $250 per hour [5]. - This model highlights the short-term demand for "data labeling and feedback labor" in the AI industry, while also raising concerns about long-term job stability and salary structures [5]. Group 3: Diverging Opinions on AI's Timeline - Not all analysts agree with the rapid timeline for job replacement. Morgan Stanley suggests that the impact of AI may take longer to manifest in economic data, with significant disruptions potentially occurring in the late 2020s or beyond [7]. Group 4: AI Risks Identified by Industry Leaders - Anthropic's CEO, Dario Amodei, outlines six major risks associated with AI, including large-scale unemployment, the potential for AI to possess state-level power, and the rise of terrorism threats due to advancements in biology [9]. - He expresses concern that AI could empower authoritarian regimes and highlights the risks posed by AI companies themselves, which control significant data and influence over users [9][10].

鹭羽 发自 凹非寺 量子位 | 公众号 QbitAI WHATTT！当红炸子鸡 OpenClaw 要走Manus老路了？！ OpenClaw之父Peter Steinberger亲口承认： 同时收到 小扎 和 奥特曼 递出的橄榄枝。 开出的条件更是一个比一个优厚—— Meta这边，技术宅小扎直接 Boss直聘 ，闭关一周亲自上手OpenClaw后：I Want YOU！ 再看OpenAI，奥特曼那边更是祭出雷神之锤：算力诱惑。 不止这两家，微软等公司也都纷纷下场，只为能够分一杯羹。 有趣的是，Peter还专门透露，在当初的改名风波中，他还特意 致电奥特曼 ，使用"Open"一词是否冒犯～ 毕竟OpenClaw——OpenAI、Clawdbot——Claude。 而早早被踢出局的Anthropic，不知可曾有悔？ （doge） 以上这些，都通通出自Peter的最新一期播客，主持人还是最会挖掘内幕消息的Lex Fridman。 他用 3小时 深度对谈，让Peter将有关OpenClaw的更多幕后故事，全交代了。 ……. 硅谷已经盯上了OpenClaw这块肥肉 OpenClaw有多火？且看GitHub最新star数 ...

Welcome to the Vergecast, the flagship podcast of slightly dystopian pet finders. I'm your friend David Pierce. The optell's here.Hey buddy, >> what's up. How do you feel about using the full surveillance industry to find your pets. >> This is why I don't have pets.Get them out of my face. Too complicated. Too The moral quandry of pet ownership is We do a lot of moral quandry on the show.I I will say I you know, do you really own a dog. Let's talk about it. Yeah, you just you you don't you just let it poop ...

在此之前，规模最大的私募融资是蚂蚁集团在2018年筹集的140亿美元。 开发和训练人工智能模型成本极其高昂，这也是 Anthropologie 和 OpenAI 持续筹集巨额资金的重要原因，因为它们必须投入资金购买英伟达图形处理器 等计算资源。此外，它们还与谷歌展开了激烈的竞争。 谷歌已宣布计划今年投入高达 1850 亿美元的资本支出，并正在大力投资其 Gemini 产品。 AIPress.com.cn报道 2月13日消息，OpenAI 完成了有史以来规模最大的私人科技公司融资。其竞争对手 Anthropico 目前也完成了第二大规模融资。 Anthropic周四宣布完成300 亿美元的融资，投后估值达 3800 亿美元，是这家人工智能公司 9 月份上次融资时估值的两倍多。 Claude背后的公司正努力追赶OpenAI，后者去年完成了一轮由软银领投的超过400亿美元的融资。 这款编码工具的流行，以及Anthropic公司旗下生产力产品Claude Cowork的进步，导致近几个月来软件股遭遇大规模抛售。由于投资者日益担忧人工智能 可能颠覆这些行业，该行业的市值已从峰值蒸发约2万亿美元。 与此同时，OpenAI ...

Core Insights - The AI industry is experiencing a significant moment with multiple major model releases concentrated in a short timeframe, creating a strong sense of urgency and competition among companies [1][2]. Group 1: Model Releases and Performance - In less than two weeks, several high-profile AI models have been released, including Claude Opus 4.6, GPT-5.3-Codex, Seedance 2.0, and GLM-5, indicating a competitive landscape with rapid advancements [2][4]. - GLM-5's price increase signifies strong demand and capability, with its queue exceeding initial expectations [4]. - Chinese models are not only dominating in quantity but are also achieving quality parity and even leading in some areas, with significant contributions from domestic companies [5][18]. Group 2: Market Dynamics and Trends - The emergence of GLM-5 and other models represents a shift in the AI landscape, where companies are beginning to compete on both product and model quality, particularly in the B2B sector [13][17]. - The competition is expected to intensify as more companies release models that challenge established players like Anthropic, potentially reshaping the market dynamics [12][13]. - The AI industry is anticipated to reach a critical turning point in 2026, with expectations of significant advancements and market changes [14]. Group 3: Financial Implications - Anthropic's annual recurring revenue (ARR) is projected to surpass OpenAI's for the first time in Q1, indicating a shift in financial performance within the industry [10]. - The ability of companies to monetize their models effectively is becoming increasingly important, with a focus on the economic value generated from their applications [12][20]. - The competitive landscape is likely to lead to a re-evaluation of value distribution within the industry, as companies adapt to new market realities [12][17].

以下文章来源于不懂经 ，作者不懂经也叔的Rust 不懂经 . 《主权个人》：未来会活得很爽的有三种人，一是技术精英，二是各行业头部，三是有资本及良好判断力的人。本号专注后面两种。 0 1 2026年可能是最具决定性的一年 2026 年 2 月 11 日，科技界正在发生一些奇怪的事。 Brian Norgard ，硅谷连续创业者，发了一条推文： " 我认识的几乎所有在科技行业工作的聪明人，都感到极度焦虑。仿佛一切都即将彻底崩塌。 " 同一天，另一个叫 @barkmeta 的科技博主写道： " 我不知道为什么 2026 年会成为一个转折点，但我认识的几乎所有真正关注时事的人，都正在经 历某种程度的生存危机。 " 也是同一天， xAI （马斯克的 AI 公司）的联合创始人 Jimmy Ba 宣布离职。他在告别帖里写了一段话，不像是在告别，更像是在发出某种信号： " 我们正迈向一个拥有合适工具就能实现百倍生产力的时代。递归式自我提升循环很可能在未来 12 个月内上线。 2026 年将会是疯狂的一年，很可 能是我们物种未来最忙碌、也最具决定性的一年。 " 在人类历史上， 可能从来没 有过这样一个时刻：一群世界上最聪明的 ...