OpenAI正式将谷歌云纳入其供应商名单，标志着其在多元化计算资源供应方面迈出关键一步，进一步 摆脱对长期合作伙伴微软的依赖。 77月17日，据媒体报道，OpenAI已在其官网更新的供应商列表中加入谷歌云，该协议于今年5月正式敲 定，此前双方进行了数月谈判。 这一合作安排旨在满足OpenAI不断攀升的计算能力需求，且该合作对谷歌云业务构成重大利好，有助 于其在与亚马逊AWS和微软Azure的竞争中获得优势。与此同时，这也反映出大规模AI模型训练和部署 的巨大计算需求正在重塑人工智能行业的竞争格局。 OpenAI目前的云服务供应商还包括微软、甲骨文和CoreWeave等公司。分析认为，这种多元化供应策略 将增强OpenAI的议价能力并降低供应链风险。 多元化计算资源布局加速 OpenAI的供应商多元化战略并非一蹴而就。今年早些时候，该公司与软银和甲骨文合作推出了价值 5000亿美元的Stargate基础设施项目，并与CoreWeave签署了一项为期五年、价值近120亿美元的云服务 协议。 OpenAI联合创始人兼CEO Sam Altman今年4月曾公开表示，公司正面临计算能力限制。他在社交媒体X 上写道："如 ...

大家早上好！这里是今天的早报，每天早上，我都会在这里跟你聊聊昨夜今晨发生了哪些大事儿。 本 栏目由虎嗅出品。 热点追踪 【黄杨某甜天价耳环检测为玻璃耳饰】 据央广网，7月16日，官方通报"天价耳环"事件调查处理情况：网传黄杨某甜佩戴的"天价耳环"系司某霞朋友 2016年所赠，为仿制某大牌饰品。工作组陪同杨某夫妇将该耳环送往国家珠宝玉石首饰检验集团有限公司委托 检测，检测结果为玻璃耳饰。 【警方通报3名高中生赴西双版纳后失联】 据中国新闻周刊，7月16日，湖北黄冈市公安局黄州分局发布警情通报：针对网传"黄冈高中生赴西双版纳后失 联"信息，经公安机关核查，情况基本属实。初步查明，三名高中生于6月25日结伴抵达云南西双版纳，6月27 日与家人、朋友失去联系，发送位置显示在境外。 6月27日接报警后，黄州区公安分局立案侦查，成立专班赶赴云南开展工作。目前，公安机关正会同相关部门 全力查找。 警方提醒：正值暑假，学生及家长要高度警惕"零门槛、高回报"的兼职信息，避免落入陷阱。 【聊城市人民医院招菲律宾博士引质疑，当地卫健委：已在调查此事】 据澎湃新闻，聊城市人民医院官网发布的一则《聊城市人民医院2025年博士研究生引进 ...

△具有复杂内部结构的极高速云概念图 该研究通过FAST中性氢21厘米谱线观测，清晰地揭示出G165内部存在高度结构化的特征：其内部充满复杂交织的丝状结构，这些结构在多个速度层中形成 网状分布。这些丝状体在三维空间中以扭曲形态相互交错，其径向密度剖面呈现显著不对称性。这一结构形态表明G165内部存在激波压缩过程，系统整体 呈现出强烈的湍流特征。 该研究成果为揭示恒星形成区的物质来源与演化路径提供了新线索。科研团队未来将继续依托FAST望远镜，对更多极高速云开展系统观测，进一步探索星 际结构形成的普适物理规律。 （总台央视记者 帅俊全 褚尔嘉） 近日，中国科学院上海天文台联合国内外科研机构，依托500米口径球面射电望远镜（FAST），在银河系一团超高速运动的星际气体云中，首次观测到了由 超音速湍流主导的复杂丝状结构网络。这一成果为揭示星际介质在结构形成早期的演化机制提供了全新视角，相关成果于2025年7月16日在国际学术期刊 《自然·天文学》（Nature Astronomy）在线发表。 这项研究的对象是一个被称作G165的极高速云（VHVC）。这是一团由氢原子组成的大质量气体云，距离地球约5万光年，位于远离银河 ...

高盛发表研报，首次覆盖混合云服务商Nutanix(NTNX.US)，给予"买入"评级，目标价为95美元。 高盛指出，Nutanix是企业从传统基础设施向现代化转型的核心标的，其超融合基础设施(HCI)平台通过 将计算、存储和网络整合为软件定义堆栈，为本地环境提供类云服务。相较于传统架构，Nutanix解决 方案可降低40%以上的总体拥有成本，实现更快的资源调配和混合部署灵活性。 高盛认为，在博通(AVGO.US)收购威睿导致产品定价、支持服务和软件包变更后，Nutanix有望在未来 四年(2025至2029财年)每年获得3-6亿美元的经常性收入，承接VMware客户迁移需求。 报告还提及Nutanix与戴尔(DELL.US)、思科(CSCO.US)及Pure Storage(PSTG.US)日益扩大的合作伙伴生 态，以及其向混合多云编排平台的演进。该平台正在解决云迁移、基础设施自动化和AI支持等企业IT核 心需求。 近期动态显示，Nutanix2025财年第三季度业绩超预期，每股收益0.42美元(预期0.38美元)，营收6.39亿 美元(预期5.9444亿美元)，同比增长22%。Piper Sandler将其 ...

Summary of Alibaba Group's 2025 Financial Year Conference Call Company Overview - **Company**: Alibaba Group - **Fiscal Year**: 2025 - **Conference Structure**: Management speeches followed by Q&A session Key Points and Arguments Financial Performance - **Overall Income Growth**: Increased by 10% after removing Darun 8 and Yingtai [2] - **EBITDA Growth**: Increased by 36%, attributed to income growth and operational efficiency improvements [2][7] - **Net Profit**: Non-recognized accounting standard net profit reached RMB 29.8 billion, a 22% increase [7] - **Operating Cash Flow**: RMB 27.5 billion, an 18% increase [7] - **Free Cash Flow**: Decreased by 76% to RMB 3.7 billion, mainly due to cloud infrastructure investments [7] Business Segments - **Cloud Business (Aliyun)**: - Quarterly revenue increased by 18%, with external commercial revenue up by 17% [3][5] - AI-related product revenue has seen three-digit growth for seven consecutive quarters [3][5] - Confidence in continued revenue growth driven by AI demand despite global supply chain uncertainties [3][5] - **E-commerce (Taotian Group)**: - Revenue increased by RMB 10.14 billion, a 9% rise [8] - Customer management revenue grew by 12%, driven by increased take rates [8] - The number of 888VIP members exceeded 50 million, indicating strong user growth [4][8] AI and Technology Investments - **AI Infrastructure**: Significant investments in AI infrastructure and technology development to maintain global competitiveness [2][3] - **Open-source Models**: Released QIANWEN 3, with over 200 models opened and downloaded more than 300 million times [3] - **AI Applications**: AI is being applied across various industries, including traditional sectors like manufacturing and finance [4][5] Strategic Focus - **User Experience**: Emphasis on improving user experience through AI in e-commerce, enhancing search, recommendations, and advertising systems [18][19] - **Monetization Strategy**: Focus on stabilizing market share and improving monetization rates through new products and services [22] - **Investment in Instant Commerce**: Plans to invest $10 billion in instant commerce to enhance user engagement and operational efficiency [28][30] Future Outlook - **Revenue Growth**: Strong confidence in revenue growth for Alibaba Cloud driven by AI demand and increased adoption of cloud services [17][26] - **Market Position**: Continued focus on core business and strategic investments to seize long-term growth opportunities [6][12] Additional Important Information - **Shareholder Returns**: The board approved an annual share price of $1.05 per share of ADS, reflecting a 5% increase [6] - **Cash Returns**: Plans to return $16.5 billion in cash to shareholders [7] - **Operational Efficiency**: All branches achieved EBITDA improvement, with loss-making businesses gradually turning profitable [6][12] This summary encapsulates the key insights and financial metrics discussed during the Alibaba Group's 2025 financial year conference call, highlighting the company's performance, strategic initiatives, and future outlook.

会跟大家来这个大会议那么行业推进步之前呢首先我来讲一下我们策略的观点那么时间比较长啊有五天时间但是实际上呢全球市场的这个交易比A股就多两个交易日那整个假期呢大家最关注的这个消息啊其实最重要的可能就两条啊第一条呢就是我们看到美股在这个假期的时候是修复的4月2号以来的下跌 那么修复的原因主要还是跟这个贸易战的缓和的预期发酵有关系因为我们看到最近美方也是频繁的表示与中国进行经贸问题的谈判并且非常笃定的回答会达成协议那么这块的话反映到整个股市上来说整个美股也是把4月2号那天刚开始打贸易战之前的下跌位置已经完全修复了 那么美股整个市场收缩之后呢我们看到第二个可能大家最关注的是假期的这个汇率的这个异动啊那么大家可能看到最多的肯定是人民币啊就因为人民币是破了这个7.2那整个下期啊表现的非常强但是实际上呢不仅仅是人民币啊大家去看整个假期的汇率这个亚洲的整整个的货币啊表现的都比较强啊我们看一下这个韩元等等 港币等等都表现的是非常强的但是很有意思的一点是我们看到欧洲的货币表现的并没有这么强所以汇率制裁的话可能 更多的还是跟这个美元的贬值和贬值预期之下后续大家对于美元出来的这个资金流向的一个定价就是说白了就是大家觉得这个美元走弱之 ...

We also note that the financial information discussed on this call reflects estimates based on information available at this time and could differ materially from the amounts ultimately reported in HPE's quarterly report on Form 10-Q for the fiscal quarter ended April 30, 2025. For more detailed information, please see the disclaimers on the earnings materials relating to forward-looking statements that involve risks, uncertainties, and assumptions. Please refer to HPE's filings with the SEC for a discussio ...

每经记者：刘明涛 每经编辑：叶峰 随着中概互联网龙头持续反弹，今日上午，中概互联网相关ETF涨幅明显，包括中概互联网ETF（159607）在内的4只中概互联ETF半日涨幅超2%，其中， 中概互联网ETF（513050）半日成交达到23.23亿元，交投十分活跃。 | | | 中概互联网行业相关E | | | --- | --- | --- | --- | | 代码 | 名称 | 涨幅% | 现价 | | 159607 | 中概互联网ETF | 2.46 | 1.084 | | 513050 | 中概互联网ETF | 2.38 | 1.42 | | 159605 | 中概互联ETF | 2.26 | 1.087 | | 513220 | 中概互联ETF | 2.1 | 1.264 | | ETF规模截止日: 7.15 | | | | 从投资逻辑来看，中国互联网行业仍处于数字化转型深化期，AI、云计算、智能汽车等新技术驱动增长。例如，腾讯云AI相关收入同比快速增长，阿里通 义大模型在电商、制造等领域落地，小米智能汽车业务成为新增长点。此外，消费复苏和全球化布局进一步打开中国互联网行业市场空间。 点评：中概互联网ET ...

Investment Rating - The investment rating for the industry is "Outperform the Market" (maintained) [1] Core Insights - The recovery of sales for NVIDIA's H20 chip is expected to clear inventory and boost capital expenditure (Capex) among domestic cloud providers, leading to increased demand in the cloud sector [3][4] - The introduction of the H20 chip, which is a compliant version tailored for the Chinese market, is anticipated to significantly reduce the time and costs associated with hardware investment and actual usage, accelerating the transition of domestic enterprises to cloud services [4][5] Summary by Relevant Sections AI Chip Computing Layer - The resumption of H20 sales will lead to inventory clearance and increased capital expenditure, with the potential for continued positive Capex growth if the supply of special GPUs proceeds smoothly [3][5] - The H20 chip, while having reduced performance compared to the H100, remains a primary choice for domestic AI developers due to its compatibility with the CUDA ecosystem [5][6] - The expected inventory loss related to H20 is projected to reach around $4.5 billion, with total inventory recovery potentially exceeding $10 billion [6] Domestic Cloud Providers - Domestic cloud providers maintained high growth rates in Q2, with expectations for accelerated growth in the second half of the year as customer solutions are implemented [9][10] - The recovery of H20 supply is expected to significantly increase capital expenditure among domestic cloud providers, positively impacting downstream demand [9][10] - Despite a slight decrease in the number of AI customers in Q2, the penetration rate of scenarios continues to improve, indicating a robust growth trajectory for cloud services [9] AI Model Layer - The second quarter saw a concentration of model development among leading domestic tech firms, which are rapidly catching up to international standards and fostering an open-source ecosystem [13][17] - Major companies like Alibaba, ByteDance, Tencent, and Baidu are actively enhancing their AI models and tools, contributing to a vibrant AI ecosystem [15][16][17]

板块方面，影视、游戏板块早盘强势，横店影视、天地在线双双涨停；汽车零部件概念走强，长源东谷、动力新科等多股涨停；医药股盘中活跃，润都股 份、力生制药等涨停。硅能源、光伏板块持续回调，银行股震荡走低，厦门银行领跌。 截至今年6月底，A股投资者数量已超过2.4亿。不仅如此，当上证指数在7月突破3500点整数关口，两市成交额连续30个交易日维持在万亿级别……一个信 号愈加明晰：A股新一轮牛市已然来临。 今天A股，三大指数涨跌不一。沪指调整，创指、深成指半日微涨。个股涨多跌少，上涨个股超3500只。 截至午间收盘，沪指报3500.62点，跌0.12%；深 成指报10755.85点，涨0.11%；创指报2243.08点，涨0.36%。 展望后市，中信建投证券认为，流动性充裕叠加市场情绪升温，推动A股"上台阶"。外部环境也较为有利，积极情绪或蔓延至A股。接下来，继续维持战 略乐观判断，目前海内外宏观环境、市场风险偏好和新赛道结构性景气均出现积极信号，预计市场有望进一步"上台阶"。 01 A股股民总数已超2.4亿 近日，中国结算发布了2024年统计年报。报告显示，2024全年新增投资者1274.28万，其中新增自然人投资者 ...