让我们先把道德放在一边，坐到CFO（首席财务官）的位置上。 现在是2026年，你面前摆着两份报表： 如果AI的发展真的如我们所愿般"顺利"，那可能恰恰是经济崩溃的开始。 最近，你的朋友圈可能被CitriniResearch的那份《2028全球智能危机》（The2028GlobalIntelligenceCrisis）刷屏了。 不同于以往那些喊着"天网降临"的科幻惊悚片，这份报告可怕在它的"无聊"——它没有终结者机器人，只有冷酷的财务报表、崩塌的信贷数据和消失的白 领阶层。 它推演了一个极其反直觉的逻辑：当AI彻底替代人类劳动时，生产力会暴涨，但经济会自杀。 这听起来像个悖论，对吧？ 今天，我们就来拆解这份报告中最核心的"幽灵GDP"概念，并用更底层的视角，去寻找那个能让我们在2028年幸存下来的"减震器"。 01 "无刹车"的死亡螺旋：如果你是老板，你会怎么选？ 一份是目前的人力成本，包括五险一金、带薪休假、还有员工时不时的情绪波动和低级错误； 另一份是AI代理（Agent）的报价单，24小时不间断工作，成本只有人类的1/10，且还在以摩尔定律的速度下降。 Citrini的报告指出，这将触发一个"OpEx替代 ...

高盛策略师表示，随着投资者寻找能够规避AI颠覆风险的避风港，拥有有形生产资产的公司股票正跑 赢大盘。 对AI应用颠覆商业模式的担忧席卷了从软件到资产管理等多个行业，引发此前被视为稳健赢家的股票 大幅下跌。这种担忧演变成不加区分的抛售，并蔓延至物流等表面上看并不特别容易受到AI冲击的行 业。 策略师还指出，争夺AI领导地位的竞争，也使此前表现突出的轻资产公司，即所谓的五大"超级规模 商"转变为资本密集型模式。 这种避险式偏好使相关股票获得溢价、表现相对跑赢轻资产、易受技术颠覆的公司，高盛用HALO来概 括这一结构性资金流向与市场定价变化。 该报告由包括纪尧姆·杰松（Guillaume Jaisson）在内的团队成员撰写。杰松写道， "市场正在奖励产能、网络、基础设施以及工程复杂性——这些资产复制成本高，且更不容 易受到技术快速淘汰的影响，" 在欧洲资本密集型股票组合中，高盛选取了ASML Holding NV(ASML.AS)、赛峰(SAF.PA)、路威酩轩 (MC.PA)、液化空气(AI.PA)以及空中客车(AIR.PA)等公司。而在轻资产股票组合中，则包括欧莱雅 (OR.PA)、Adyen(ADYEN.AS ...

PayPal (NASDAQ:PYPL), a global digital payments technology platform, closed Tuesday at $47.02, up 6.74%. The stock rose after fresh reports detailed unsolicited takeover interest and potential suitors, and investors are watching whether formal offers or asset-sale plans emerge next.Trading volume reached 57.8 million shares, about 187% above its three-month average of 20.1 million shares. PayPal IPO'd in 2015 and has grown 24% since going public. How the markets moved today The broader markets advanced T ...

February 15, 2026 12:01 PM GMT Technology – Software & Services | Europe Weekly Reboot – Software's Confidence Crisis In our latest thought piece, we examine how investor sentiment in Software has shifted from AI fuelled optimism to concerns about disruption, despite what we see as broadly resilient long term fundamentals. Thank you to all who voted for us in this year's Extel survey - we truly appreciate it! Key research: European Software: What's Causing the Collapse in Confidence? In a quieter week for e ...

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Update: Feb. 25, 2026: Bloomberg News reported Tuesday that the fintech Stripe may be interested in buying PayPal, or some of its assets. A spokesperson for Stripe declined to comment. -------------------------------------------------------------------------- There aren’t many companies in the payments sphere that could digest a $40-billion market-cap company lik ...

Takeover interest from "at least one suitor" is moving this payments giant’s stock higher, today, Feb. 23, 2026.NASDAQ : PYPLPayPalToday's Change( 5.74 %) $ 2.39Current Price$ 44.04Key Data PointsMarket Cap$38BDay's Range$ 40.53 - $ 45.6752wk Range$ 38.46 - $ 79.50Volume3.4MAvg Vol20MGross Margin41.78 %Dividend Yield0.34 %PayPal (PYPL +5.74%), a digital payments platform for merchants and consumers worldwide, closed Monday at $44.05, up 5.76%. The stock climbed after reports of unsolicited takeover interest ...

Core Insights - The article discusses the latest insights from technology companies regarding AI's impact on their industries, particularly focusing on Adyen and Airbnb's advancements in AI technology and its applications in their business models [1][2]. Adyen - Adyen has introduced Dynamic Identification, which enhances real-time decision-making for payments, improving conversion rates and reducing costs while managing risks more effectively [2][4]. - During peak shopping events, approximately 95% of shoppers were recognized through Dynamic Identification, showcasing its effectiveness in both online and in-store channels [2][4]. - Dynamic Identification is designed to combat the limitations of traditional, document-based identity verification methods, allowing for more adaptive and precise risk assessments [2][6]. - The new Personalize module within Adyen Uplift, developed in the second half of 2025, helps merchants balance payment costs and conversion rates by personalizing the payment experience based on shopper behavior [4][10]. - Pilot tests of the Personalize module showed a 6% improvement in conversion rates and a 3% reduction in transaction costs for merchants [10]. Airbnb - Airbnb has deployed an AI agent for customer support, which currently resolves one-third of support issues, significantly speeding up resolution times [11][12]. - The company plans to expand the AI agent's capabilities globally, aiming to enhance customer support quality while reducing costs [12][13]. - Airbnb is developing an AI-native experience within its app to personalize user interactions, helping guests plan trips and assisting hosts in managing their businesses more effectively [13][14]. - Management believes that integrating AI will not negatively impact profitability, as the company focuses on cost-efficient innovations without significant capital expenditures [13][14]. - Airbnb's strategy includes leveraging AI to enhance search functionalities, with ongoing tests for AI search capabilities aimed at improving user experience [16][17]. Arista Networks - Arista Networks has exceeded its AI center networking revenue goal of $1.5 billion for 2025 and anticipates doubling this figure to $3.25 billion in 2026 [18][19]. - The company is positioning itself as a leading provider for AI data centers, focusing on interoperability with major players like NVIDIA and AMD [20][28]. - Arista's networking products are designed to handle both training and inference for AI models, with a focus on reducing congestion and improving performance metrics [22][23]. - The company has seen a significant increase in purchase commitments, reaching $6.8 billion by the end of Q4 2025, primarily driven by demand for AI-related products [25][26]. Cloudflare - Cloudflare has secured significant contracts with leading AI companies, establishing itself as a preferred infrastructure provider for AI applications [36][39]. - The company is witnessing a shift towards AI-driven demand for its services, with AI agents generating significantly more outbound requests compared to traditional applications [42][43]. - Cloudflare's management emphasizes the efficiency of its infrastructure, claiming it can achieve up to 10 times the workload from the same GPU compared to hyperscalers, thus attracting more AI compute spending [45].

Adyen (OTC: ADYEY) is down 66% from all-time highs set five years ago, when the pandemic was raging, but its business is significantly larger today. Revenue and net income have more than doubled for the payment processing company since then, while its share price has been more than cut in half. This type of scenario can be a great opportunity to buy on the dip. Investors are nervous due to management's reduced outlook for fiscal year 2026 and a general valuation reset. Now, the stock appears undervalued f ...

Jason Lemkin is one of the leading SaaS investors of the last decade with a portfolio including the likes of Algolia, Talkdesk, Owner, RevenueCat, Saleloft and more. Rory O’Driscoll is a General Partner @ Scale where he has led investments in category leaders such as Bill.com (BILL), Box (BOX), DocuSign (DOCU), and WalkMe (WKME), among others. ----------------------------------------------- Timestamps: 00:00 Intro 00:42 Anthropic's $30B Raise at $380B 05:53 Why SaaS Stocks Keep Getting Crushed 20:53 Wall St ...

Core Insights - Uber has been utilizing Adyen's payment infrastructure for 17 years, focusing on expanding its presence in ride-hailing and embedded payments [1] - The partnership is now expanding with the introduction of airport kiosks that allow international travelers to connect with Uber drivers and pay using local payment methods [2] Expansion of Services - The first kiosk is located at La Guardia Airport, with plans for additional kiosks in other international airports, hotels, and ports [2] - Adyen has recently expanded its merchant acquiring services in several countries, including Japan, Mexico, New Zealand, and Australia, and has introduced new payment methods like Pix in Brazil and AfterPay in Australia [3] Payment Personalization - Adyen aims to support local payment methods for travelers from various regions, enhancing the user experience for Uber customers [4] - Uber's strategy includes creating local entities to improve approval rates and reduce costs associated with cross-border transactions [5] Competitive Landscape - Uber employs multiple payment service providers, including Adyen, Stripe, and PayPay, to ensure redundancy and optimize payment processing [6] - The collaboration with Adyen has resulted in increased transaction volume, particularly in the past year [6] Future Prospects - Uber is considering deploying kiosks in hotels and popular tourist destinations, indicating a strategy to further enhance customer convenience [6]