Company and Industry Summary Company: 聚飞光电 (Jufei Optoelectronics) Key Points - In the latest CUDA ecosystem AI inference server procurement review, the company secured over 50% of the bid share, with a significant 70% share in large-scale, high-performance bids [1][3] - Following its partnership with ZTE Corporation, the company is poised to become the leading player in the domestic optical communication sector, specifically in optical modules and silicon photonics [2][3] Additional Important Information - The company's strong performance in the AI inference server market indicates a robust demand for its products, reflecting a growing trend in AI technology adoption [1] - The strategic alliance with ZTE Corporation may enhance the company's competitive edge and market presence in the optical communication industry [2]

Group 1 - Hyundai Motor Group and South Korea signed a deal to invest approximately 9 trillion won ($6.26 billion) for the development of an AI data center and a robot manufacturing factory [1] - The investment will take place in the western coastal region of South Korea, indicating a strategic focus on enhancing technological infrastructure in that area [1] - This initiative reflects Hyundai's commitment to advancing its capabilities in artificial intelligence and robotics, aligning with global trends in technology development [1]

花旗观点 尽管受客户需求不明朗及其他专用集成电路可能被替代的影响，源 头信 息加微ss62897我们无法量化 LPU 对人 工智能 PCB 市场总规模的影响，但英伟达在推理加速器领域取得进展，这对行业整体应属积极信号。 受投资者对即将召开的 GTC 大会上 LPU 机柜发布的信心提升影响，。 我们的行业调研显示：（1）LPU 主板或采用 M9+Q 覆铜板及高阶层压解决方案，而 PCB 层数尚未确定，40 层以上及 50 层以上方案均在测试中，据此我们测算，基于约 0.3 平方米的尺寸，主板 PCB 的单台价值量或达。 （2）2026 年上半年 LPU 机柜出货量或达数百 花旗观点 受投资者对即将召开的 GTC 大会上 LPU 机柜发布的信心提升影响，。 我们的行业调研显示：（1）LPU 主板或采用 M9+Q 覆铜板及高阶层压解决方案，而 PCB 层数尚未确定，40 层以上及 50 层以上方案均在测试中，据此我们测算，基于约 0.3 平方米的尺寸，主板 PCB 的单台价值量或达。 （2）2026 年上半年 LPU 机柜出货量或达数百台，后续计划将视客户反馈而定。 我们预计，VGT也有望进入该供应链。 估值 我们 ...

Group 1 - Avalon GloboCare Corp. has entered into definitive agreements for the issuance and sale of 6,372,550 shares of common stock and associated warrants at a purchase price of $0.51 per share [1][3] - The offering is expected to generate approximately $3.25 million in gross proceeds before fees and expenses, with potential additional proceeds of about $6.5 million from the warrants if fully exercised [3] - The Series A-1 warrants will expire five years from stockholder approval, while the Series A-2 warrants will expire eighteen months from stockholder approval [1] Group 2 - H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering [2] - The securities are offered in a private placement under Section 4(a)(2) of the Securities Act and are not registered under the Act or applicable state laws, being available only to accredited investors [4] - The company plans to use the net proceeds for repayment of outstanding debt and for working capital and general corporate purposes [3][4] Group 3 - Avalon GloboCare Corp. is focused on developing precision diagnostic consumer products and generative AI publishing and software [1][6] - The company is advancing AI systems through its subsidiary, Avalon Quantum AI LLC, and is also marketing the KetoAir™ breathalyzer device registered as a Class I medical device [6]

Investors have had to grapple this month with geopolitical tensions, a pivotal U.S. Supreme Court ruling over Trump's tariffs and fickleness over the artificial intelligence trade, among other developments. But while the broader markets remained volatile, moves in the currencies for the month were driven primarily by shifting rate expectations. "The rates are reflecting the changing macro situation," said Sim Moh Siong, a currency strategist at OCBC. "Last year was about which central banks will cut rates a ...

2月27日消息，千问将在西班牙巴塞罗那举行的2026年世界移动通信大会（MWC）上发布首款同名AI 眼镜，并于3月2日开启线上线下全渠道预约。智通财经了解到，千问APP点外卖、打车等能力，也将集 成到千问AI眼镜等终端设备。据阿里内部人士透露，除AI眼镜之外，千问还会在年内陆续发布AI指 环、AI耳机等产品，并面向全球市场发售。 ...

Core Insights - The RealReal's latest earnings report emphasizes the role of artificial intelligence in enhancing operational efficiency and improving the listing process for luxury items [1][3] - CEO Rati Levesque highlighted a multi-year AI roadmap aimed at leveraging technology to identify potential consignors and streamline the listing process [3][11] AI and Operational Strategy - The company is focusing on two key AI initiatives: SmartSales for identifying high-potential clients and Athena for reducing the time from item intake to live listing while enhancing accuracy [3] - The AI strategy is designed to shape supply dynamics, targeting higher-value consignors and premium product categories that foster loyalty among both sellers and buyers [4][11] Supply Growth and Retail Strategy - A coordinated "growth playbook" integrates marketing, sales, and retail efforts, improving targeting of mid to high-value sellers [8] - Approximately 25% of new consignors are sourced through retail locations, with items sourced through these channels having an average selling price 5 to 7 times higher than those from other sources [8] Demand Resilience - Demand remains strong, particularly in premium categories, with buyers spending $5,000 or more increasing by 20% year over year [9] - The RealReal's positioning at the intersection of luxury and value, along with educational efforts regarding resale pricing, contributes to this demand resilience [9] Financial Performance - In Q4 2025, gross merchandise value (GMV) rose 22% year over year, while revenue increased by 18%, with adjusted EBITDA reaching $22 million [10] - For the full year 2025, GMV increased by 16% to $2.13 billion, and revenue rose by 15% to $693 million, marking positive adjusted EBITDA in every quarter for the first time [10] Future Outlook - The results are seen as indicators of a broader transformation, with plans to deepen AI integration and enhance supply chain efficiency as priorities for 2026 [11]

在流量红利见顶、获客成本高企的当下，酒类销售早已面临转型压力。从微信凭借社交刚需重构私域链 路，到团购依托性价比激活大众市场，每一次渠道革新都改写着行业格局。如今 AI 携精准算法而来， 能否成为撬动酒业增长的下一个超级入口？这一问题，正成为行业共同的思考。 酒业从不缺少拥抱变革的勇气，每一次工具革新、渠道升级都孕育着增长可能。AI 的出现，并非简单 的工具迭代，而是对酒类消费核心痛点的精准回应。 "1毛钱喝大牌奶茶"—— 春节期间，阿里千问通过 AI 算法推送专属优惠券的营销案例，在消费圈引发 热议。有人领到大额抵扣，有人获得满减福利，这种千人千面的精准触达模式，也为酒类行业带来了新 可能。 与此同时，中小酒企与头部酒企的数字化基础、资金实力差距悬殊，进一步加剧了不确定性。泸州老 窖、1919 等企业能承担 AI 布局的高额成本，而大量中小酒企连基础的数据积累都尚未完成，难以迈过 AI 落地的门槛。 超级入口的更迭，本质是用户需求满足方式的升级。AI 大概率不会替代现有渠道，也难以快速成为不 可或缺的核心入口，但作为新型工具，它有望与微信、团购形成互补，为酒业带来新的增长可能。对酒 企而言，无需盲目追逐"超 ...

Cryptocurrency Market Overview - Leading cryptocurrencies experienced a cooldown amid uncertainty regarding potential market bottoms [1] - Bitcoin's trading volume decreased by 22% over the past 24 hours, while its market share narrowed to 58% [2] - Ethereum's dominance fell to 10.5%, although it managed to recover losses after an initial sharp decline [2] Market Liquidation and Sentiment - Over $240 million was liquidated from the market in the last 24 hours, primarily affecting bullish long traders [2] - Bitcoin's open interest fell by 2.39%, aligning with the correction in spot price, while "Extreme Fear" sentiment prevailed in the market according to the Crypto Fear & Greed Index [3] Market Capitalization and Performance - The global cryptocurrency market capitalization reached $2.26 trillion, reflecting a 3.02% increase over the last 24 hours [4] Market Bottom Indicators - Ethereum's Market Value to Realized Value (MVRV) ratio was noted at 0.78, historically indicating potential market bottoms when below 0.80 [6] - On-chain analytics firm CryptoQuant projected Bitcoin's bottom to occur between June and December this year, with September to November identified as a historical "sweet spot" [7]

【Hy】液冷+发电大涨，在AI的趋势中"随波逐流"-0226 【Hy】液冷+发电大涨，在AI的趋势中"随波逐流"-0226 我们年后第一个交易日yy了零部件可选的核心方向（AI发电、液冷、半导体等），选出来的标的们今天基本都 很争气。 牛市下半场的轮动一定会演绎更频繁， AI液冷+发电都是AI题材里分歧相对少的，还有订单/业绩/行业催化可以演绎，尤其 ①NV： 财报亮眼，3月中GTC 大会Rubin液冷方案进一步明确，技术节奏可能超预期，核心变化包括产品端冷板（微通道相关）、CDU（泵、阀 等部件）等，供应格局上关注国内供应商（ywk、sq等）份额。 ②国产：ds V4将发布利好国产算力华为昇腾（950采用液冷方案），26年大厂AI资本开支乐观，中长期液冷渗透 率提升空间大。 我们年后第一个交易日yy了零部件可选的核心方向（AI发电、液冷、半导体等），选出来的标的们今天基本都 很争气。 牛市下半场的轮动一定会演绎更频繁， AI液冷+发电都是AI题材里分歧相对少的，还有订单/业绩/行业催化可以演绎，尤其 ①NV： 财报亮眼，3月中GTC 大会Rubin液冷方案进一步明确，技术节奏可能超预期，核心变化包括产 飞龙 ...