进入2026年，热管理技术已不再局限于传统的"散热"，它成为了制约算力突破、能源效率与产品可靠性的核心命脉。随着AI大规模算力集群、智能汽车、半 导体、深空/低空飞行器等前沿领域的跨越式发展，行业对热管理方案的精准度与能效比提出了近乎苛刻的要求。基于此， " 洞见热管理2026 " 系列活动 将以" 上海+深圳 " 双展联动模式 ，搭建起贯穿产、学、研、用的全产业链对接平台，旨在汇聚全球智慧，攻克温控难题，定义新一代热力平衡标准。 01 6月10日 上海站：未来产业之基！聚焦液冷板、芯片与功率器件热管理 2026未来产业新材料博览会 （FINE2026） 将于 6月10-12日 在上海新国际博览中心隆重举行。上海站规模宏大展出面积达 50,000平方米（N1-N5） ， 300+场 战略与前沿科技报告， 预计吸引超过10万+名专业观众。 同期 N2馆 特设 "2026热管理液冷板产业展"与"AI芯片及功率器件热管理展区" ，聚焦高热流密度场景下的工程难题。（ 可点击下方图片超链接查看详细介绍 ） | FINE 2026 × Ind iTher M | 中国未来产业崛起引领全球新材料创新发展 | | | | - ...

Conestoga Capital Advisors, an asset management company, released its fourth-quarter 2025 investor letter. As many believe, US equities experienced solid returns in 2025, with double-digit gains across all major indices, yet underlying conditions revealed extreme volatility and market leadership. A copy of the letter can be downloaded here. In Q4 2025, Conestoga Capital Advisors Small Cap Strategy returned -1.89% net-of-fees, trailing the Russell 2000 Growth Index’s 1.22% return. The returns were volatile i ...

Group 1 - Advanced Micro Devices (AMD) has agreed to guarantee a $300 million loan for cloud computing startup Crusoe, with a proposal to buy back chips if Crusoe fails to attract customers [1][2] - The loan, backed by Goldman Sachs, has a locked-in interest rate of around 6%, significantly lower than what Crusoe would have achieved without AMD's backing [2] - Crusoe is installing AMD chips in a new data center in Ohio, transitioning from a cryptocurrency focus to AI infrastructure, and is part of the emerging "neoclouds" sector [2] Group 2 - AMD is making strategic moves to compete with Nvidia, including expanding its partnership with Tata Consultancy Services to roll out a new AI data center design [4] - In Q4, AMD reported record revenue of $10.3 billion, a 34% year-over-year increase, with the Data Center segment reaching $5.4 billion and expected to grow over 60% annually in the next three to five years [4] - AMD has a momentum score of 88.93% and a quality rating of 92.81%, although its shares have declined 8.99% year-to-date [5]

随着美国证券交易委员会(SEC)2025年第四季度13F持仓报告披露收官，高瓴(HHLR)、景林、高毅、东方港湾及喜马拉雅资本等五家头部中资机构的美股持 仓动态浮出水面。 具体来看，HHLR第四季度的调仓核心聚焦中概电商龙头，拼多多与阿里巴巴构成组合"双核心"，合计占比达65%。其中，第一大重仓股拼多多获大幅增 持，持仓市值12.16亿美元，占比从28%升至39%；第二大重仓股阿里巴巴持仓市值7.96亿美元，占比从14.4%大幅提升至26%。 创新药赛道延续坚守，百济神州、传奇生物、Arrivent Bio Pharma仍位列前十大重仓。其他关键操作包括：增持台积电，首次建仓iShares比特币ETF；减持 富途、Webull等金融科技标的；清仓了冬海集团等非核心中概股。前十大重仓股中，中概股占据七席，市值占比高达92%，中资核心资产的配置地位进一步 强化。 在全球流动性边际变化与AI产业分化的背景下，五大机构调仓呈现"共识与分歧并存"的鲜明特征：中概电商龙头拼多多(PDD.US)获集体加仓，成为跨机构 的最大共识；谷歌(GOOG.US)取代英伟达(NVDA.US)成为多家机构的新投资核心；高瓴极致收缩聚焦" ...

When uncertainty rises in the economy and volatility in the markets escalates, it's not the traders who hedged their investments or found profitable speculative angles who make the most money. It's the global financial operators that get a piece of the action each time someone makes a trade. As investors continue to navigate the ongoing maze of geopolitical tensions, mixed data signals, and concerns of a tech bubble, those financial system operators will continue to profit from the higher trading activit ...

Core Viewpoint - Auddia Inc. announced the expiration of its publicly traded warrants, which ceased trading on February 18, 2026, and became void after February 19, 2026, with no impact on the company's common stock [1][2]. Company Developments - Auddia is in the process of a transformational business combination that will lead to the formation of McCarthy Finney, Inc., which will provide AI and web3 shared services to its subsidiaries. The new entity will trade under the ticker MCFN upon closing of the merger [3]. - Auddia's proprietary AI platform is revolutionizing consumer engagement with audio content, including AM/FM radio and podcasts, while also enhancing how artists and labels promote their music [4]. Product Offerings - Auddia's flagship audio superapp, faidr, is free for listeners and offers unique listening experiences, including AI-enabled ad-free listening, content skipping across AM/FM stations, and integrated artist discovery features [4][6].

21世纪经济报道记者黄子潇 A股尚处春节休市期，港股已抢先开市。 大年初四（2月20日），港股迎来马年首个交易日。截至收盘，恒生指数跌1.10%，恒生科技指数跌2.91%。 尽管大盘的"开门红"未能如愿，但"春晚效应"正在显现，多只机器人概念股逆势走高。 同日，香港交易所、香港黄金交易所均举行新春开市仪式，港交所主席唐家成表示，今年以来已有24只新股上市，募资金额超过870亿港元，目前有488家企 业正在排队等候上市。"希望港股市场气氛能一直延续整个马年。"他表示。 此外，香港金市收获红盘。 港交所举行马年新春开市仪式。来源：港交所官网 恒指走弱收跌，机器人板块逆势上涨 2月20日，恒生指数低开后维持震荡，截至收盘全日下跌1.1%；恒生科技指数受软件板块拖累表现较弱，收跌2.91%。 从成交量来看，恒生指数、恒生科技指数等交易量均较节前（2月13日）降幅近40%，原因或为港股通的缺席。Wind数据显示，2025年港股通成交额占港股 市场总成交比例约55.3%。春节休市时间表显示，2月14日至2月23日，A股、沪/深港通（北向）、港股通（南向）均处于休市期，而港股在除夕（2月16 日）开市半日，在初四（2月20 ...

Group 1 - The company Constellation (CEG) has transformed from a nuclear energy operator to a significant supplier of AI economy infrastructure [1] - The focus of the analysis is on uncovering high-upside opportunities in overlooked sectors, particularly in small-cap, energy, commodities, and special situations [1] - The investment strategy emphasizes growth, looking for fundamental momentum indicators such as EPS, ROE, and revenue [1] Group 2 - The analyst has been managing personal capital since 2020 and has been advising under MiFID II after obtaining a license [1] - The educational background includes a bachelor's degree in Business Administration and Economics, with a master's thesis focused on the impact of financial results announcements on stock returns and trading volumes of micro-cap gold mining companies [1]

2月20日，港股在马年首个交易日走弱，三大指数集体收跌。 Wind数据显示，截至收盘，恒生指数跌1.1%，恒生科技指数跌2.91%，恒生中国企业指数跌1.22%。AI"新秀"表现亮眼，智谱大涨42.72%，MiniMax-WP 涨14.52%，资金从大型互联网科技权重股，流向AI"新秀"企业。 AI"新秀"获市场青睐 Wind数据显示，截至收盘，智谱大涨42.72%，MiniMax-WP涨14.52%，市值均突破3000亿港元。 1月8日和9日，智谱与MiniMax相继登陆港交所。Wind数据显示，上市以来，智谱股价累计涨超504%，MiniMax股价累计涨超312%。 机器人概念股活跃 从恒生综合行业指数来看，能源板块领涨，收涨1.62%；医疗保健、工业、电讯、金融及地产建筑板块涨幅居前。非必需性消费板块领跌，收跌3%；信息 科技、必需性消费及原材料等板块跌幅靠前。 恒生科技指数权重股普遍下跌。截至收盘，京东健康、百度集团-SW跌超6%，华虹半导体、金蝶国际、腾讯音乐-SW、哔哩哔哩-W等跌幅均超5%，阿里 巴巴-W跌近5%。 | < w | 恒生科技(HSTECH) 5211.50 -156.02 -2. ...

Core Viewpoint - SAP, a leading software company for large businesses, has been affected by the recent selloff in software stocks driven by AI concerns [1] Group 1: Company Overview - SAP is recognized as the company behind the software that supports the majority of large businesses globally [1] Group 2: Market Context - The company was not immune to the widespread panic selling in the software sector related to artificial intelligence [1]