Force. Eventually, over the next few years, he wrote in a memo to employees that they should figure out, in his words, how to get more done with scrappier teams. That's nice.Joining us now, former Democratic presidential candidate Andrew Yang. It's a daunting future we have. Mr.. Yang, obviously. And you've been I said we I was at a was it a book party that that I attended for you, a book of six years, six years ago, talking about this on the horizon and the need for maybe even back then, universal basic in ...

在指数持续缩量震荡，题材板块高速轮动的内卷大环境中， AI 算力中机构大票却走出了一波 凌厉的连续上涨，相关个股在股价走到高位高位之后，非但没有调整，反而是在今天进一步大 涨， PCB 板块更是掀起涨停潮，沪电股份这种权重股牢牢封死涨停。 今天这样的走势，是什么原因所导致的呢，产业上有什么新的变化？ 昨天晚上， Marvell 举行科技研讨会，对未来业务的预测，到 2028 年数据中心市场将达 940 亿美元，较此前上修了 26% 。其中 AI 定制计算和高性能互联是最关键的增长引擎，年 复合增长率分别高达 53% 和 35% 。 过去一周市场对于 ASIC 的预期已经比较高， Marvell 的会进一步强化市场预期。 对于国内产业链来说，核心的映射方向，就是 PCB 、 CCL 以及光模块。相较于 GPU ， ASIC 对于 PCB 、 CCL 以及光模块的用量都会有明显提升，尤其是 PCB 的用量提升更为明 显。 在 A 股当下的市场环境当中，有相当多资金在厌倦了无穷无尽的轮动行情之后，选择去本身 业绩就相当扎实的 AI 算力里面抱团。 再遇上新的产业变化，提高了未来的业绩预期，走出今天这样的强势行情也就 ...

以下文章来源于橙子不糊涂 ，作者橙子 橙子不糊涂 . 88年，集成电路背景，主要写科技，偶尔聊聊宏观和新鲜事儿。 今天信息量有点大，挑重点的说。 1，今天野村的一篇报告内容比较狂野，标题更狂野： 雄心有多雄？ 先要挑战英伟达的主导地位… 2， Meta搞的是机架级的玩意儿，看起来不像是要纯自用 。具体的： （1）MTIA T-V1（2025年底-2026年初） 由博通设计，类似AWS Trainium 2的中介层尺寸，Celestica负责机架和交换机， 广达 制造计算托盘和 CDU，PCB使用高规格材料（M8混合 CCL ，36层）。 架构与散热方面，16个计算刀片和6个交换刀片垂直插入2个电缆背板，通过DAC连接，主要芯片液 冷，低功耗组件风冷。 （2）MTIA T-V1.5（2026年中期） （按住，翻译…） 中介层尺寸翻倍，超过5个光罩，计算能力接近NVIDIA下一代GPU Rubin，PCB高达40层。 （3）MTIA T-V2（2027年），计划采用更大的 CoWoS 封装，可能需要液冷到液冷散热，功率系统达 170KW以上。 3， Meta MTIA的百万级的出货量目标 2025年底-2026年 ...

[Table_Title] 证券研究报告 /金融工程研究报告 公募量化发展的回首与展望 报告摘要： 海外历史：虽然作为金工/量化学科奠基的相关理论大约于 19 世纪才发 展起来，但翻阅衍生品发展和应用数学进行投资或交易的历史可以发现， 量化的思维早在千年之前已有萌芽。进入 19 世纪后，理论研究百花齐 放，为当前量化投研发展奠定了基础。2000 年后，计算机的普及，云计 算、大数据、机器学习技术的发展，为量化研究和投资注入新的活力。 从简单的机器学习，例如决策树、随机森林、SVM，到更为复杂的深度 学习模型，量化研究和投资在不断探索和进步。从各方口径得到的全球 对冲基金总管理规模数据并不统一，但较为一致的结论是由于对冲基金 策略的多元性，如股票多空/CTA/宏观对冲/多策略等，以及更高的灵活 性和长期相对稳定的收益能力，近年来对冲基金总管理规模增持续攀升， 其中的量化管理公司更是长期霸榜规模排名前列。在整体规模占比中， 北美市场对冲基金管理规模全球最高，占比约 7 成，其次是欧洲、中东 及俄罗斯等地。当前，AI 策略的采纳率迅速提高，基金经理越来越多地 应用人工智能和机器学习技术来提高运营效率并提高回报。随着 ...

公众号记得加星标⭐️，第一时间看推送不会错过。 来源：内容 综合自 wccftech 。 在 上 月 底 ， AI 芯 片 霸 主 英 伟 达 黄 仁 勋 在 全 球 媒 体 问 答 中 表 示 ， 关 于 英 伟 达 芯 片 与 特 殊 应 用 IC （ASIC）之间的比拼，他坚定地表示，英伟达的增长速度会持续超过ASIC。 对于上述看法，黄仁勋的理由是，这世界上有会出现很多ASIC专案，但其中大约九成会失败，就像 会一直有新创公司冒出头，但大部分都会以败局告终。就算其中有些逃过此命运，但长时间下来，也 可能难以为继。 相较之下，黄仁勋认为，英伟达要延续并不难，这也是他的职责所在。由于英伟达的步伐很快，所以 如果有人想要打造ASIC，可能得比该公司的ASIC还要好才行。 黄仁勋说，市场竞争确实很激烈，但英伟达的技术进展很快，对架构持续进行最佳化，而且也努力让 成本尽速降低，如今已被广泛采用。 ASIC必须得英伟达竞争，且各种ASIC之间也要相互竞争。 毫无疑问，GPU龙头在人工智能领域进展迅速，通过快速引入新架构，打破了规模和性能方面的限 制。NVIDIA 并不担心在当今的人工智能市场中被边缘化，相反，他们 ...

证券研究报告 | 首次覆盖报告 gszqdatemark 2025 06 11 年 月 日 芯原股份（688521.SH） 国产算力中坚力量，一站式定制化&IP 领军 一站式定制化&IP 领军，潜心研发致力未来。芯原股份主要服务为面向消 费电子、汽车电子、计算机及周边、工业、数据处理、物联网等广泛应用 市场所提供的一站式芯片定制服务（（24 年占比 68%）和半导体 IP 授权服 务（24 年占比 32%），公司 2024 年营收 23.22 亿元，截至 2025 年一季 度末，公司在手订单金额为 24.56 亿元，创公司历史新高，在手订单已连 续六季度保持高位。从新签订单角度，2025 年一季度公司量产业务新签 订单超 2.8 亿元，截至 2025 年一季度末量产业务在手订单超 11.6 亿元， 对公司未来的业务拓展及业绩转化奠定坚实基础。截至 2024 年，公司研 发人员达 1800 人，占比 89.37%，公司注重研发与人才培养，我们看好公 司的研发积累，进一步提升公司的收入水平，并在规模效应下摊薄费用率， 优化公司利润。 自研 ASIC 需求井喷，设计服务行业迎历史机遇。一站式芯片定制服务 是指向客户 ...

Financial Data and Key Metrics Changes - In Q1 2025, same store sales decreased by 8.3% compared to the prior year, with a notable decline of 11.9% in February, but improved to a decline of 4.3% in April [18][19] - Revenue for the quarter was $568 million, with net income of $22 million or $0.62 per diluted share, and adjusted EBITDA of $136 million, resulting in an adjusted EBITDA margin of 24% [19][20] - Operating cash flow generated during the quarter was $96 million, ending with $12 million in cash and $411 million available under the revolving credit facility [20] Business Line Data and Key Metrics Changes - The company has seen improvements in food and beverage sales, particularly with the reintroduction of the eat and play combo, which has a double-digit opt-in rate [11][12] - Remodeled stores have outperformed the system by over 700 basis points over the last three months, indicating the effectiveness of the remodel strategy [12] - The introduction of new games and attractions, such as the Human Crane, is expected to enhance guest experience and drive traffic [13][55] Market Data and Key Metrics Changes - The company reported positive same store sales in 11 of the last 30 days, indicating a recovery trend [8] - The Memorial Day weekend showed particularly strong sales, contributing to the positive momentum observed in early June [8] Company Strategy and Development Direction - The company is focused on a "back to basics" strategy aimed at improving execution across marketing, operations, and menu offerings [6][7] - New store development remains a key part of the strategy, with plans for 10 to 12 new store openings in fiscal 2025 [21][80] - International franchising is seen as a driver of efficient growth, with expectations for at least seven more international openings over the next year [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery trajectory, emphasizing the importance of executing their current strategies to drive revenue growth and free cash flow [7][15] - The leadership team is optimistic about the potential for significant improvements in operating performance and shareholder value in the coming months [7][93] - Management acknowledged the challenges posed by the macroeconomic environment but believes their initiatives will help mitigate these impacts [62] Other Important Information - The company is in the process of finalizing the search for a permanent CEO, with the interim CEO committed to driving performance improvements [15] - A new store manager incentive program has been implemented to align managers' interests with same store sales growth [38] Q&A Session Summary Question: Predictability of same store sales trajectory - Management indicated that while they are optimistic about future growth, they are still in the early stages of recovery and expect to see outsized growth in the coming years [24][26] Question: Breakdown of capital expenditures - The CFO confirmed that capital expenditures were front-end loaded, with significant spending on new stores and remodels [28][30] Question: Improvement in same store sales trends - Management noted that improvements are driven by increased traffic and better food and beverage sales, particularly through the eat and play combo [34][35] Question: Need for reinvestment in the business - Management stated that they do not foresee the need for significant reinvestment but will focus on smarter spending to drive growth [47][50] Question: New game cabinets and future outlook - The company plans to roll out new game cabinets and attractions, maintaining a focus on guest experience and engagement [54][56] Question: Differences in performance between Dave and Buster's and Main Event - Overall performance is similar, but there are specific metrics showing stronger growth in certain areas for Dave and Buster's [90]

Core Viewpoint - Dave & Buster's Entertainment, Inc. reported a decrease in financial performance for the first quarter of fiscal 2025, but the leadership is optimistic about a recovery driven by strategic changes in operations and marketing [4][5]. Financial Summary - Total revenue for the first quarter was $567.7 million, down 3.5% from $588.1 million in the same quarter of fiscal 2024 [6][7]. - Comparable store sales decreased by 8.3% compared to the first quarter of fiscal 2024 [6][7]. - Operating income was $63.2 million, representing 11.1% of revenue, compared to $85.5 million or 14.5% of revenue in the prior year [6][9]. - Net income totaled $21.7 million, or $0.62 per diluted share, down from $41.4 million, or $0.99 per diluted share in the first quarter of fiscal 2024 [7][8]. Operational Highlights - The company opened two new stores and relocated one during the first quarter, with two additional stores opened after the quarter ended [7]. - A total of 13 stores were remodeled in the first quarter [7]. - The company repurchased $23.9 million worth of shares, representing 2.9% of outstanding shares as of the end of fiscal 2024 [11]. Cash Flow and Liquidity - Operating cash generated during the first quarter was $95.8 million, with available liquidity of $423.2 million at the end of the quarter [10]. - The company ended the quarter with a Net Total Leverage Ratio of 3.1x [10][43]. Outlook - The company reiterated its outlook for fiscal 2025, including capital expenditures on new stores, remodels, and other initiatives [13].

2、灵巧手 | 据证券时报，北京通用人工智能研究院、北京大学的科研人员研制的智能灵巧手因首次实现类人水平的自适应抓取，于当地时间9日登上了国际 期刊《自然?机器智能》。研究团队在灵巧手掌面70%的面积上集成了高分辨率触觉感知，使机器人的智能与交互能力迈上新台阶，为机器人操作技术提供 新突破。据介绍，这只灵巧手的一大亮点是能根据触觉反馈，实时调整动作。根据接触面的不同，它能自如用小指抓取乒乓球、单手同时抓起垒球和高尔夫 球，姿势与人类拿球类似。 明日主题前瞻 1、低空经济 | 据新华社，中办、国办印发《关于深入推进深圳综合改革试点深化改革创新扩大开放的意见》。其中提到，创新支持新兴产业发展的体制机 制。依托深圳证券交易所科技成果与知识产权交易中心等，构建科技成果转移转化全链条服务体系。支持深圳深化无人驾驶航空器飞行管理制度改革创新， 完善低空飞行监管规则，探索开展跨境直升机飞行、公益服务等通用航空业务。 点评：证券时报指出，今年以来，国内各地加码低空经济布局。截至2025年5月，全国30个省份将低空经济发展纳入地方政府工作报告，北京、四川、山东 等地相继推出专项方案。目前低空已经在多地的旅游、应急、农业、监测、 ...

SINGAPORE, June 10, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today released its unaudited bitcoin mining update for the month ending May 31, 2025.Management Commentary"In May 2025, despite the 10% increase in tariffs on our Malaysia-made Bitcoin mining machines due to ongoing U.S. trade uncertainties, we remained focused on executing our strategic priorities with discipline and agility," said Nangeng Zhang, chairman and chief executive office ...