RT SMX 🇺🇸 (@iam_smx)When Jensen Huang hand-delivered the DGX Spark to Elon Musk, the NVIDIA CEO stayed afterward to watch Starship Flight 11. https://t.co/wU8fF2bnSN ...

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $18.7 million, representing a 20% sequential increase and a 21% year-over-year increase [13] - Gross loss for the quarter was negative $8.1 million on a GAAP basis and negative $7.3 million on a non-GAAP basis, with improvements attributed to a higher mix of NRE revenue and lower inventory purchases [13] - Operating expenses (OPEX) were $66.6 million on a GAAP basis and $43 million on a non-GAAP basis, with non-GAAP OPEX declining approximately 9% sequentially and 29% year-over-year [14] - Free cash flow for the quarter was approximately negative $48.5 million, an improvement from negative $53.8 million in Q2 [15] Business Line Data and Key Metrics Changes - The automotive LiDAR business faced challenges, particularly with the relationship with Volvo, which is expected to reduce or eliminate anticipated revenues from certain programs [5][8] - LSI, which represents about one-third of Luminar's annual revenue, generated roughly $18 million year-to-date, with strong growth anticipated due to defense and aerospace spending [10] Market Data and Key Metrics Changes - The uncertain status of the relationship with Volvo is expected to impact revenue from the EX90 and ES90 programs, while the relationship with Nissan continues to progress [6][8] - The company is shifting focus towards non-automotive markets, particularly in aerospace and defense, where demand for their technology is increasing [6][10] Company Strategy and Development Direction - The company is actively evaluating multiple proposals for the sale of the entire company or certain assets, indicating a strategic shift in focus [4][15] - A workforce reduction of approximately 25% is planned to align the cost base with long-term goals, expected to result in significant operating expense reductions starting in 2026 [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging environment and emphasized a disciplined approach to navigating the transition, expressing gratitude to employees and partners [16] - The strategic direction towards commercial markets outside of automotive is reinforced by ongoing developments in defense and industrial applications [6][10] Other Important Information - The company has entered into forbearance agreements with secured noteholders and has suspended its 2025 financial guidance while negotiating a long-term solution for capital structure and liquidity needs [3][4] Q&A Session Summary Question: Update on strategic actions and interest in potential sale - Management confirmed interest in assets and business lines, and they are evaluating these along with financing interests [19] Question: Status of next-gen product development - Management stated that next-gen product development is ongoing and critical engineering resources are maintained [20] Question: Size and momentum of LSI business - Management indicated that LSI is a growing business with deep technologies across various applications, and it is considered an under-recognized asset [25] Question: Updates on relationships with platform partners like NVIDIA - Management confirmed continued engagement with platform players but did not provide specific updates on partnerships [27]

11月13日，A股液冷服务器板块迎来强势爆发，成为资本市场最亮眼的风景线。板块内，超频三 （300647）以20CM涨停领跑全场，同飞股份（300990）涨超10%，英维克（002837）涨停，锦富技术 （300128）、申菱环境（301018）等跟涨个股亦表现活跃，资金对液冷赛道的关注度可见一斑。就在板 块集体走高的背景下，全球领先的液冷服务器核心厂商联想集团(00992)却出现短期股价波动，这一现 象引发市场热议。事实上，作为深耕液冷领域近20年的"老兵"，联想在技术沉淀、规模化应用、生态构 建等方面已形成全方位竞争优势，其在液冷赛道的真实价值正被市场逐步挖掘，长期成长逻辑清晰且坚 实。 液冷服务器板块的爆发并非偶然，而是算力需求激增与政策导向共同作用的必然结果。随着生成式 AI、大模型训练进入规模化阶段，服务器算力密度呈指数级提升，传统风冷技术已难以满足高密度算 力集群的散热需求。数据显示，一台AI服务器的功率可达普通服务器的10-20倍，部分高端AI服务器单 台功率甚至突破50KW，风冷系统不仅散热效率不足，还会导致数据中心PUE(电源使用效率)居高不 下。在此背景下，液冷技术凭借散热效率高、能耗低、 ...

Core Insights - Firefly Neuroscience, Inc. reported significant financial growth in Q3-2025, with revenues increasing over tenfold year-over-year and 30% sequentially, primarily due to the acquisition of Evoke Neuroscience [4][7] - The company successfully integrated the Evoke business, leading to a 10.9% increase in EEG/ERP scan volumes quarter-over-quarter [3][7] - Operating expenses decreased by 35% year-over-year, contributing to a reduced net loss of $2.6 million, a 38% improvement compared to the same period in 2024 [5][6][7] Financial Performance - Q3-2025 revenue reached $388,000, up from $33,000 in Q3-2024, and a sequential increase from $299,000 in Q2-2025 [4][7] - Total operating expenses for Q3-2025 were approximately $2.8 million, down from $4.3 million in the prior year [5][7] - The net loss for Q3-2025 was approximately $2.6 million, or $0.20 per share, compared to a net loss of $4.3 million, or $0.61 per share, in Q3-2024 [6][7] Business Developments - The company is focused on executing its commercial growth strategy while leveraging NVIDIA's advanced software for developing EEG/ERP-based models of the human brain [3] - Firefly launched the 'CLEAR' platform for EEG data quality enhancement, developed using NVIDIA's L40S GPU [7] - A partnership with HealingMaps was established to provide cognitive electrophysiology analytics to over 2,500 clinics across North America [7] Cash Position - As of the end of Q3-2025, Firefly had cash reserves of $4.3 million [8]

November 9, 2025 09:00 PM GMT Investing for a Multipolar World Navigating China's Export Control Playbook and Market Impact Invest for a "long arm, short peace" export control regime: incremental relief, persistent rivalry, and rules that can tighten at short notice. Own quality exporters and R&D-rich tech stocks aligned with localization, and use scenario odds – not headlines – to assess risk. Why this matters now: Beijing has dialed back the October tightening on rare earths and introduced de minimis-styl ...

在IPO市场复苏的背景下，专注于基础设施建设的公司表现优于传统科技公司，CoreWeave和Circle股价飙升。 今年，美国股市上市的科技公司中，股价涨幅最大的当属人工智能（AI）和虚拟货币相关公司。随着今年利率的下调，IPO市场呈现复苏迹象，促使多家 科技公司上市。传统软件公司，例如金融科技和旅游应用，上市后股价普遍下跌，而人工智能和虚拟货币公司则经历了股价的爆炸式增长。这主要是由于 人工智能和虚拟货币行业此前一直处于发展阶段，如今已展现出实际的销售业绩和市场影响力，吸引了大量投资资金涌入。 与其他美元稳定币抵押结构不透明不同，Circle 被认为符合美国金融监管环境，因为它仅持有现金和政府债券等安全资产作为抵押品。因此，USDC 已被 Visa 和 PayPal 采纳为支付方式，贝莱德也参与了其储备的管理。尤其是在特朗普政府于 7 月份颁布了所谓的"天才法案"（Genius Act），将稳定币纳入正 规金融体系之后，市场对 USDC 更广泛应用的预期也推高了 Circle 的股价。 USDC 的市值也从年初的约 450 亿美元增长到 10 号的 758 亿美元。 基于区块链的借贷公司 Figure 的股 ...

Welcome to this demonstration. Today we'll be showing how DDN enables a one-click high-performance rag pipeline for enterprise use. Our rag pipeline solution is enterprise class and easy to deploy and use in any cloud environment whether AWS, GCP, Azure, any NCP cloud and of course on prem.Let's take a closer look at the architecture. This rag pipeline solution is made of several NVIDIA Nemo NIMS or NVIDIA inference microservices which host embedding reranking LLM models a milild vector database a front-end ...

Core Viewpoints - CoreWeave reported a mixed Q3 earnings, indicating that delays in individual data center projects will have a diminishing impact on overall performance as the company scales up its operations [1] - The company is actively expanding its business by initiating self-built projects in Pennsylvania, aiming to mitigate losses or delays in infrastructure delivery [1][3] - The management emphasized that the majority of the 2.9 GW of power capacity will be operational within the next 12 to 24 months, reducing the relative impact of any single project's delay [1][6] Infrastructure and Supply Chain - CoreWeave is facing systemic challenges in the supply chain that support global infrastructure construction, particularly in the context of AI [2] - The company has diversified its data center suppliers to enhance its ability to meet future challenges and has established dedicated teams to assist in infrastructure operations [2][4] - The current capacity has reached approximately 590 MW, with an increase of 120 MW since the last earnings call, showcasing significant progress in infrastructure delivery [4] Customer Contracts and Flexibility - The infrastructure built by CoreWeave is designed to be interchangeable among clients, allowing for flexibility in usage for both training and inference [6] - The company has seen a significant increase in backlog orders, indicating strong customer demand, and expects capital expenditures in 2026 to be more than double that of 2025 [8][15] - CoreWeave's contract with NVIDIA allows for the reservation of capacity and resale to other clients, enhancing the company's ability to serve smaller clients while managing capacity utilization risks [10][11] Future Outlook and Strategy - The company is committed to exploring various financing structures to ensure the successful delivery of computing services to clients, while also considering self-built data centers as a means to reduce delivery risks [13][14] - CoreWeave is focused on maintaining a diverse customer base, with no single customer accounting for more than 35% of total revenue, a significant decrease from 85% earlier in the year [15] - The management believes that the ongoing demand for infrastructure will continue to grow, driven by the increasing needs of major tech companies and AI labs [15]

PubMatic (NasdaqGM:PUBM) Q3 2025 Earnings Call November 10, 2025 04:30 PM ET Company ParticipantsRajeev Goel - Co-founder and CEORob Coolbrith - VP of Internet Equity ResearchMatt Condon - Director Equity ResearchStacie Clements - Managing DirectorShweta Khajuria - Managing Director, Internet Equity ResearchAndrew Marok - Director, Equity ResearchSteve Pantelick - CFOMatt Swanson - Director, Equity ResearchJacob Armstrong - Equity Research AssociateConference Call ParticipantsEd Alter - VP and Senior Equity ...

市场趋势与行业动态 - 亚洲股市从四月份以来最大两日跌幅中反弹，逢低买入者回归，此前对估值过高的担忧有所缓解 [1][48] - 美国最高法院对特朗普总统的全球关税表示怀疑，暗示其可能越权 [1][7][49] - 科技股回调引发市场抛售，但对人工智能的乐观情绪依然存在 [16][20] - 美国十年期国债收益率大幅走高，达到 4.15%，财政部暗示可能增加供应 [4][51][95] - 美国经济状况依然强劲，企业盈利表现良好，标普 500 指数近 80% 的公司报告盈利，同比增长 12%，每股收益超出预期 6% [22] - 沙特阿拉伯下调对亚洲的官方售价，并持续关注美国库存的增长 [5][52] - 美元走强，测试 200 日移动平均线，为一年来首次 [6][53] - 尼日利亚重返全球债务市场，通过债券销售筹集 20 亿美元 [39] - 刚果共和国重返全球债务市场，以 13.7% 的收益率出售 6.7 亿美元债券 [42] - 中国将取消对美国农产品的关税，并解除对美国公司的出口限制 [46] 投资机会与潜在风险 - 最高法院对特朗普关税的质疑可能导致关税重新评估和退款 [3][50][51][96] - 估值过高并非股市大跌的唯一原因，需要更大的负面催化剂 [26][27] - 预计标普 500 指数年底将达到 7000 点或接近该水平 [27] - 英国央行预计将维持利率不变，关注即将到来的预算和疲软的数据 [2][49][79][81] - 预计利率下调和市场流动性增加将推动市场上涨 [28] - 卡塔尔计划向埃及投资 35 亿美元，开发旅游景点和高尔夫球场 [64][71] 公司财务表现 - ARM 预计第三季度销售额将达到 13 亿美元，超过预期，人工智能技术需求强劲 [29] - 高通公司对本季度给出了乐观的预测，称销售额已达 120 亿美元，对高端安卓芯片的需求依然强劲 [29] - 土耳其航空公司指责发动机制造商垄断并抬高价格，利润率超过 25% [44][75] - 国泰航空宣布将从卡塔尔航空回购股份，表明对香港航空枢纽地位的信心 [78]