IT之家注：股权奖励是公司发给员工的"股票兑换券"。员工可以在未来某个时间点，以特定价格买入公 司股票（或者直接获得股票）。这是科技公司为了留住人才，让员工和公司利益绑定的一种常见福利， 通常占员工总收入的很大一部分。 知情人士透露，公司将年度股票期权分配额度下调了约 5%，这一调整波及数万名员工。继去年削减约 10% 之后，此次"再次缩水"让不少员工感到失望。 这一薪酬调整迅速在匿名职场社区 Blind 上引发了热议。有员工抱怨道："又是削减，看来我的努力白 费了，再见 Meta！"还有人调侃称将"相应减少 5% 的工作时间"以示抗议。 金融时报今天（2 月 20 日）发布博文，报道称 Meta 为筹集资金应对昂贵的 AI 军备竞赛，已连续第二 年削减员工股权奖励（Equity-based awards）。 这家市值 1.6 万亿美元的巨头预估，其 2026 年的资本支出可能高达 1300 亿美元。资金主要流向两个无 底洞：建设庞大的数据中心集群，以及从竞争对手那里挖角顶尖 AI 人才，后者的年薪包往往高达数百 万甚至上亿美元。 为了安抚因 AI 投资回报尚不明朗而感到不安的投资者，扎克伯格正极力在内部推行 ...

Core Viewpoint - The article emphasizes the importance of personal engagement in thinking and writing, particularly in the context of AI's role in creative processes. It argues that while AI can assist in generating content, it cannot replace the essential human experience of struggle and reflection that leads to genuine understanding and growth [11][56]. Group 1 - AI writing can produce clear and structured drafts, but human intervention often involves simplifying and refining the content to better reflect personal thought [6][7]. - The act of writing is portrayed as a process that forces clarity in thought, transforming chaotic ideas into coherent expressions [18][20]. - Engaging with AI can create a false sense of understanding, where individuals may feel they comprehend concepts without undergoing the necessary cognitive struggle [24][27]. Group 2 - The distinction between "Writes" and "Write-Nots" highlights the difference between those who actively engage in writing as a form of thinking versus those who rely on external sources [15][16]. - The article discusses the significance of taste and aesthetic judgment in the AI era, where individuals must remain critical of AI outputs to foster personal growth and improvement [34][38]. - Continuous engagement in creative processes is necessary to maintain and develop one's taste, as neglecting this can lead to a decline in critical judgment [43][44]. Group 3 - The article suggests that deep conversations with AI can provide valuable insights, but they lack the emotional and experiential depth that human interactions offer [45][48]. - It warns against the ease of substituting personal thought with AI-generated content, which can lead to a gradual decline in critical thinking skills [53][56]. - The call to "be human again" emphasizes the need for individuals to embrace the messy, imperfect aspects of thought and creativity that AI cannot replicate [57][58].

Core Viewpoint - The stock price of Mirae Asset Securities has surged nearly twofold this year, driven by investor speculation regarding the upcoming IPO of SpaceX, highlighting global enthusiasm for the space exploration giant's market debut [1][4]. Group 1: Stock Performance and Market Context - Mirae Asset is the best-performing stock in the MSCI global equity index this year, indicating strong investor interest in gaining exposure to the anticipated merger of SpaceX and xAI, which is estimated to be valued at $1.25 trillion [4]. - The stock's unique holding structure, with over $400 million invested in SpaceX and its sister company xAI, positions it as a scarce asset for investors, benefiting from both the local stock market's strength and its association with Elon Musk's business empire [4][5]. - The overall Kospi index has been buoyed by optimism surrounding AI chip demand and governance reforms initiated by President Yoon Suk-yeol, making it one of the best-performing stock indices globally [5]. Group 2: Dual Value Drivers and Industry Performance - The fundamental performance of Mirae Asset is improving due to the robust Korean stock market, while its holdings in SpaceX provide an additional catalyst, allowing investors to capture value from two sources simultaneously [5]. - Other brokerage stocks, such as SK Securities and Hanwha Investment & Securities, have also seen significant gains, with SK Securities rising approximately 200% and Hanwha exceeding 100% this year [5]. Group 3: Diversified AI Holdings and Revenue Growth - Mirae Asset benefits from a $7.5 billion investment portfolio with substantial exposure to the space and AI sectors, including investments in U.S. AI startup Perplexity AI Inc. and Chinese drone manufacturer DJI Technology [6]. - The company has reported significant growth in its core business, with brokerage revenue projected to reach a record high in 2025, reflecting a 43% increase from the previous year [6]. Group 4: Valuation Concerns - Despite the impressive stock performance, concerns about overvaluation are emerging, with the stock's forward P/E ratio at 21 times, three times its five-year average [8]. - Analysts warn that the stock price may have detached from its fundamentals, with much of the profit growth stemming from unrealized gains in the merger fund, leading to uncertainty regarding the conversion of valuation gains into shareholder returns [8].

来源：北京日报客户端 港股马年首个交易日，港股三大指数集体收跌。截至收盘，恒生指数跌1.10%，报26413.35点，恒生科 技指数跌2.91%，报5211.50点。 消息面上，Seedance 2.0大模型以春晚为首个公开应用场景完成首秀，深度参与多项节目视觉制作。本 届春晚中，"AI生成影像+实景舞台扩展"的创新模式引发全网热议，而Seedance 2.0正是这一模式的核心 技术支撑。 与此同时，曙光SothisAI近日升级，实现智谱GLM-5、阿里Qwen3.5大模型全面接入，并进一步简化和 优化企业AI平台构建与运营流程。近期国产AI芯片企业太初（无锡）电子科技有限公司也已完成多款 国产主流开源大模型的深度适配工作，其中包括智谱GLM-5.0、阿里千问Qwen3.5-397B-A17B。 中新经纬综自央视新闻客户端、e公司 来源：中新经纬 盘面上，港股石油股逆势走强，中国石油股份涨3.70%，中国海洋石油涨2.23%。美国总统特朗普19日 再划"最后期限"，称美伊会否达成协议，"接下来十天左右"即可见分晓。谈还是打，前景依然悬而未 决。 在中央广播电视总台2026年春晚，多家公司机器人的"炸场"表演， ...

Market Overview - The Hong Kong stock market faced significant pressure on the first trading day of the Year of the Horse, closing with the Hang Seng Index down 1.1% at 26,413 points, the Hang Seng Tech Index down 2.91%, and the National Enterprises Index down 1.22% with a total market turnover of HKD 165.4 billion [1][2]. Sector Performance - Technology stocks experienced widespread declines, with major players like JD Health and Baidu dropping over 6%. Other notable declines included Huahong Semiconductor, Kingdee International, Tencent Music, and Bilibili, all falling over 5%. Alibaba and NetEase dropped over 4%, while Xiaomi and SMIC fell over 3% [2][4]. - In contrast, oil and gas producers saw gains, with PetroChina and Henderson Land rising over 3%, and Midea Group, CSPC Pharmaceutical, CNOOC, Li Ning, and Hang Lung Properties increasing over 2% [2][4]. Specific Stock Movements - JD Health closed at HKD 56.85, down 6.27%, while Baidu fell 6.25% to HKD 129.00. Huahong Semiconductor and Kingdee International also saw significant declines of 5.76% and 5.65%, respectively [5]. - In the oil sector, companies like Yanchang Petroleum International led the gains, with shares rising 3.75% to HKD 0.415, and PetroChina increasing 3.70% to HKD 9.520 [10]. Emerging Trends - The robotics sector gained attention, with companies like Yujian rising 15.61% to HKD 70, driven by the popularity of robotics showcased during the Spring Festival Gala. Analysts predict significant growth in the robotics industry from 2021 to 2025, with large-scale production expected to begin in 2026 [14]. - The semiconductor sector is also highlighted, with a focus on storage solutions as a key area for investment, particularly in light of ongoing global inflation trends and improving domestic PPI [16].

GE Vernova Inc. (NYSE:GEV) ranks among billionaire Stanley Druckenmiller’s 10 best stock picks. Baird upgraded GE Vernova Inc. (NYSE:GEV) to Outperform on February 4, stating that the firm is well-positioned to be among the largest beneficiaries of a growing energy-infrastructure cycle and that the market had misjudged the timing and magnitude of a potential surplus in gas power. According to analyst Ben Kallo, earlier worries over industry overcapacity “will not materialize in the near- to intermediate- ...

Energy Transfer LP (NYSE:ET) is among the Best Affordable Stocks Under $40 to Buy. Energy Transfer LP (NYSE:ET) released fiscal Q4 2025 earnings on February 17. The company topped revenue estimates by $1.28 billion, but the EPS fell short by $0.11. Revenue for the quarter grew 29.57% year-over-year to reach $25.32 billion, while the EPS came in at $0.25. ​Despite the EPS miss, the company continued to grow its volumes in the fourth quarter. NGL and refined product terminals volumes were up 12%, while NGL ...

​Regions Financial Corporation (NYSE:RF) is among the Best Affordable Stocks Under $40 to Buy. On February 9, Vivek Juneja from J.P. Morgan raised the firm’s price target from $29 to $31.5, while maintaining a Hold rating on the stock. Earlier, on February 4, UBS also raised the price target from $29 to $30, while maintaining a Hold rating on the stock. ​Analysts at J.P. Morgan noted that investors anticipate only two rate cuts in 2026, and the long-term interest rates are expected to stay elevated along ...

​Huntington Bancshares Incorporated (NASDAQ:HBAN) is among the Best Affordable Stocks Under $40 to Buy. Wall Street has an overall positive opinion on Huntington Bancshares Incorporated (NASDAQ:HBAN), with analysts’ 12-month price target reflecting more than 21% upside from the current level. ​Recently, on February 12, Brian Foran from Truist Financial reiterated a Buy rating on the stock with a $21 price target. Earlier on February 11, Manan Gosalia from Morgan Stanley also reiterated a Buy rating on the ...

​Ford Motor Company (NYSE:F) is among the Best Affordable Stocks Under $40 to Buy. Wall Street maintains a cautious stance on Ford Motor Company (NYSE:F) after the company posted mixed results for fiscal Q4 2025. Recently, on February 16, Elizabella Pang from DBS reiterated a Hold rating on the stock with a $13 price target. However, on February 11, Alexander Potter from Piper Sandler maintained a Buy rating on the stock with a price target of $16. ​The company reported quarterly revenue of $42.45 billi ...