需要我帮你梳理AI核心赛道的龙头企业最新动态，或者结合你的持仓给出中长线调整建议吗？ 兄弟们是不是刷到AI核心产业规模超万亿的消息就心头一热？想冲又怕追高套牢，不冲又怕错过大行 情？别急，帮主郑重做了20年财经记者，蹲过无数产业浪潮，今天就掏心窝子跟你们聊聊这万亿AI赛 道该怎么拿捏。 记得早年间互联网刚兴起时，不少公司顶着"科技概念"股价飞涨，身边好多散户朋友跟风追进去，最后 却栽在没有实际业绩支撑的伪科技股上。而那些默默深耕技术的企业，虽然初期股价波动不大，但随着 产业成熟，慢慢就走出了翻倍行情。现在的AI赛道，跟当年太像了，万亿规模不是炒作出来的泡沫， 是工信部实打实的政策托底，更是各行各业智能化转型的真实需求。 很多人觉得AI就是大模型、聊天机器人，其实不然。这万亿蛋糕里，最扎实的是底层算力，像中科曙 光这样做液冷技术和AI服务器的企业，就像是宴席上的"硬菜"，毕竟所有AI应用都离不开算力支撑。然 后是中游的技术落地，科大讯飞在教育医疗的场景渗透，拓尔思在政务领域的深耕，都是把技术变成真 金白银的典范。还有下游的智能终端，现在AI手机、智能家居越来越普及，这些贴近生活的应用才是 产业爆发的真正动力。 ...

Equity Market - The market experienced a slight increase on December 26, with the Shanghai Composite Index rising by 0.1%, marking an eight-day consecutive gain [4] - The total trading volume in the Shanghai and Shenzhen markets reached 2.16 trillion yuan, an increase of 235.7 billion yuan compared to the previous trading day [4] - Over 3,400 stocks in the market declined, indicating rapid rotation of market hotspots [4] Domestic Policies - Jiangsu Province's Finance Department introduced measures to optimize the management of enterprise-related financial funds, aiming to address issues of "dispersed, inefficient, and redundant" fund management [6] - The Ministry of Ecology and Environment announced the fourth batch of excellent cases and lists for beautiful bays, with four locations in Jiangsu selected [6] - The National Development and Reform Commission launched three regional venture capital guidance funds to support entrepreneurship [7] Corporate Developments - Peter Schiff, a Wall Street economist, highlighted the risk of investor confidence in U.S. fiscal and monetary stability for 2026, predicting silver prices could reach $100 per ounce [8] - The Japan Semiconductor Equipment Association reported that sales of chip manufacturing equipment in November 2025 reached 420.67 billion yen, a 3.7% increase year-on-year, marking the 23rd consecutive month of growth [8] - LG Electronics announced the launch of a new gaming monitor with built-in AI technology capable of enhancing content resolution to 5K [8] - Toyota plans to set its global production target for 2026 at over 10 million vehicles, responding to strong demand for hybrid vehicles in North America [8] - Tesla's full self-driving system is expected to launch in the UAE next month, featuring advanced driver assistance capabilities [8]

用于存储半导体加工的迪思科的新设备 新设备可以一次大量处理AI用存储半导体。计划于2026年下半年开始销售…… 日本半导体切削与研磨设备大企业迪思科（DISCO）开发出了可将生产效率提高5成的半导体 切割设备（Laser Saw/激光划片机）。随着人工智能（AI）性能的提高，半导体的结构变得 复杂，加工难度加大。在这种情况下，该设备可以一次大量处理AI用存储半导体。计划于 2026年下半年开始销售。 半导体的制造工序是在硅晶圆上形成电路，然后切割成单个芯片后进行布线和封装。迪思科 的切割设备的全球市场份额被认为达到8成左右，随着AI半导体需求的扩大，销量也持续增 用于AI数据处理的"高带宽存储器（HBM）"是将芯片堆叠起来，形成微细的构造物。由于需 要高精度的切割加工，搭载了高功率激光。 适用于切割逻辑半导体所用材料的新设备将于2027年4月发售。通过改变设备内的结构，提 高了晶圆加工的生产效率。 作为新领域，迪思科还将开发可将晶圆加工为各种形状的设备，2026年1月投放市场。该设 备可以在晶圆上钻圆孔，或高精度地加工为自由形状。首先将用于量子计算机相关等研发， 以开拓市场。 版权声明：日本经济新闻社版权所有 ...

Core Insights - The Big Four accounting firms (Deloitte, EY, KPMG, and PwC) are experiencing modest revenue growth after a pandemic-era boom, with Deloitte reporting a 4.8% annual revenue growth in its latest financial year [1][6]. Group 1: Financial Performance - Deloitte's global revenue reached $70.5 billion, with a year-over-year growth of 4.8%, recovering from a previous drop to 3.1% [5][6]. - PwC is the only firm among the Big Four to report a slowdown in growth for three consecutive years, with a reduction in global headcount by 5,600, resulting in a total of 364,000 employees [8]. Group 2: Workforce Changes - Deloitte expanded its workforce by 10,000, bringing its total to 470,000 employees, marking a 2% increase [5]. - In contrast, PwC's workforce reduction reverses its previous goal to grow to around 400,000 employees [8]. Group 3: Industry Trends - The professional services industry is undergoing significant transformation due to AI, impacting the types of services offered and the talent required [3]. - The largest firms are investing billions to effectively implement AI in their operations and assist clients in navigating this transition [3].

Core Viewpoint - US stock market experienced a decline on Friday, but all three major indices recorded gains for the week, with traders anticipating a "Santa Claus rally" following the Christmas holiday [1][8]. Market Performance - The Dow Jones Industrial Average fell by 20.19 points, a decrease of 0.04%, closing at 48,710.97 points; the Nasdaq Composite dropped by 20.21 points, down 0.09%, ending at 23,593.10 points; the S&P 500 Index decreased by 2.11 points, a decline of 0.03%, closing at 6,929.94 points [3][10]. - During Friday's trading session, the S&P 500 Index reached an intraday high of 6,945.77 points, marking a new record [4][11]. - For the week, the Dow rose by 1.2%, the Nasdaq increased by 1.22%, and the S&P 500 gained 1.4%, achieving its fourth weekly increase in the last five weeks [4][11]. Investor Sentiment - Investors are currently in a historically strong seasonal window, looking forward to the potential "Santa Claus rally," which typically occurs between the last five trading days of the year and the first two trading days of the new year. Historical data shows that the S&P 500 Index has averaged a 1.3% increase during this period since 1950 [4][12]. - Wall Street generally expects that the AI boom and potential interest rate cuts by the Federal Reserve will support continued gains in the S&P 500 Index, alongside corporate earnings growth [5][12]. Economic Outlook - Ed Yardeni, a prominent market commentator, remains optimistic about the market, predicting that the S&P 500 Index could reach 7,700 points by 2026 and 10,000 points by 2029, driven by economic resilience and productivity gains related to the digital revolution and AI [6][13]. - The market is currently experiencing a lack of significant economic data releases and major corporate earnings reports due to the holiday season, which may influence trading dynamics [6][12].

The 50-day EMA is at the $357.29 level. If we can break that, then it’s likely we will go looking to fill the previous gap at $400. I have no interest in shorting.Oracle (ORCL) Technical AnalysisOracle looks very much like a market that wants to slowly grind to the upside again. But we’ve got a lot of noise here, and recently, after Oracle suggested that the AI bubble was coming undone, they, of course, got punished.As things stand right now, the $178 level looks to be rather supported, and if we can stay a ...

Group 1 - Dow futures fell by 0.08%, S&P 500 futures decreased by 0.04%, and Nasdaq futures dropped by 0.05% [1] - Biohaven Pharmaceuticals experienced a pre-market decline of nearly 14% after announcing that its experimental depression drug did not meet the primary goals of its mid-stage trial [1] - Mining stocks surged in pre-market trading, with silver prices rising 5% to $75.39 per ounce, marking a record high, and gold reaching a peak of $4,530 [1] Group 2 - Toyota plans to exceed a global production of 10 million vehicles by 2026, responding to strong demand for hybrid vehicles in North America [2] - Xpeng Motors officially entered the Mauritian market after establishing a strategic partnership, following its launch in Qatar [2] - Bitcoin experienced a sudden drop of over 70% on Binance, falling from $87,600 to $24,100, before quickly rebounding to around $87,000 [2] Group 3 - Apple is expected to launch the second-generation iPhone Air in the fall of 2026, while the iPhone 17e is set to enter mass production for a spring release [3] - Bank of America analysts predict that global semiconductor sales will exceed $1 trillion next year, driven by a 30% year-over-year growth [3] - Tesla's Full Self-Driving (FSD) system is expected to launch in the UAE next month, allowing vehicles to assist with daily driving tasks under driver supervision [3]

证 券 研 究 报 告 【宏观快评】 美国经济的冷与热：总量向上，民生向下 ——美国三季度 GDP 点评 事 项 三季度美国 GDP 好于预期，GDP 环比折年率+4.3%，前值+3.8%，预期+3%， 显著强于季节性；GDP 同比+2.3%，前值+2.1%，预期+2%。 主要观点 核心结论：Q3 经济超预期的主要来源为：①库存投资负向拖累大幅改善（库 存投资对 GDP 环比增速的拉动率为-0.2%，较前值提升 3.2 个百分点），主要 为抢进口修复后回归常态；②个人消费支出继续强劲增长（私人消费对 GDP 环比增速的拉动率为 2.4%，较前值提升 0.7 个百分点），但结构仍是服务消费 强、耐用品消费弱。 Q3 数据进一步佐证了美国经济冷热不均的分化，且短期难以改善这一分化。 总量向上：AI 投资继续拉动经济+富人财富效应下支撑消费偏强。但民生向下： 传统制造业与商品消费弱，导致"蓝领"就业难；普通人享受不到 AI 的财富 增值，反而财务状况不断恶化，67%的人口处于"月光族"。 经济冷热不均的分化能暂时避免经济衰退的到来，但无法解决政治风险。考虑 到 2026 年为中期选举年，不排除特朗普在经济矛盾无法解 ...

Core Insights - The global economy is expected to experience a "weak recovery with strong uncertainty" in 2026, with a projected growth rate of around 3% [1][3] - The economic landscape will be characterized by significant regional disparities, with the US leveraging its AI advantages for resilience, while emerging Asian economies lead growth [1][4] - Inflation is anticipated to decline overall, but with notable regional differences, as global monetary policies gradually move away from high-interest rates [1][6] Economic Growth Projections - Global economic growth is forecasted to slow slightly from 3.3% in 2024 to 3.1% in 2026, with developed economies maintaining around 1.5% growth and emerging markets slightly above 4% [3][4] - The International Monetary Fund (IMF) attributes the resilience of global growth to technological advancements, particularly in AI, and the expansion of domestic demand in Asian emerging markets [3][4] Regional Economic Disparities - The US is expected to maintain steady growth due to its tech sector, while the Eurozone and the UK face structural challenges leading to weaker growth [4][5] - Emerging markets, particularly in Asia (India, ASEAN), are projected to be the main growth engines, contrasting with some Latin American and African countries facing high debt and low growth [4][5] Inflation Trends - Global inflation is predicted to decrease from 2024 to 2026, primarily due to falling energy prices, with the World Bank forecasting a 12% drop in commodity prices in 2025 and an additional 5% in 2026 [6] - However, inflation trends will vary significantly by region, with the US facing potential "second inflation" risks due to tariffs and labor supply issues, while Europe has largely controlled inflation [6][7] Monetary and Fiscal Policy Outlook - Global monetary policy is expected to shift towards moderate easing, with the US Federal Reserve likely to continue lowering interest rates in 2026, although the pace may vary [8][9] - Fiscal policy is anticipated to take a more prominent role in driving economic growth, focusing on strategic investments and resource allocation amid high global debt levels [9][10] Risks to Economic Growth - The global economy faces multiple risks, including geopolitical tensions, trade policy uncertainties, and potential financial market bubbles, particularly concerning AI investments and cryptocurrencies [10][11] - Concerns about a fragile job market and rising interest rates could pose significant challenges to economic stability and growth [11]

来源：中央网信办举报中心 摘要：人工智能（AI）迅速发展，给生产生活带来便利的同时，也被用于制作发布谣言、不实信息。今年以来，中央网信办聚焦利用AI制作发布谣言、 不实信息等乱象，开展重点整治。各地认真落实相关要求，切实规范网络传播秩序。现通报山西典型案例—— 案例一：骈某利用AI生成虚假塌方事故视频 12月12日，晋城市阳城县网信办巡查发现，网民"静沐※※"在抖音平台发布视频，宣称"山西晋城市析城山隧道发生塌方事故，截至12月8日已确认5人遇 难"。该信息引发关注，阳城县网信办立即核查，通报阳城县交通运输局核查。 阳城县交通运输局核查反馈，视频提及的时间、地点（析城山隧道）、事故画面及具体内容在阳城县辖区内均查无实据，确认为恶意炒作的虚假信息。阳 城县网信办第一时间固定相关证据，并将线索移交阳城县公安局立案调查。 经查，违法行为人骈某（长治籍）为博取流量、吸引眼球，于12月10日利用AI工具生成虚假事故文案，并借助AI技术制作虚假事故视频。12月12日，骈 某将视频发布至抖音、快手等平台，相关视频在抖音平台播放量累计达1.5万。 针对骈某散布虚假信息，造成不良社会影响，严重扰乱公共秩序的违法事实，公安机关依 ...