不过，历史经验显示，牛市并不会单纯因时间流逝而结束。即使目前估值偏高，但仍未达到以往周期的 极端水平。看好一方亦指出，多项支持因素仍然存在，包括企业盈利预期依然稳健、人工智能(AI)受惠 范围持续扩大、财政政策支持、资本开支增加、监管环境趋于宽松、并购活动回升，以及贸易紧张局势 逐步降温。 普徕仕(T.Rowe Price)表示，美国股市的牛市周期现已踏入第四年，过去三年均录得双位数升幅，令市 场开始再度关注升势能否延续。诚然，股市连续多年上升并不罕见，但连续四年录得双位数回报的情况 却相当少见。在宏观环境有利及基本面稳健的支持下，普徕仕对股票资产维持正面看法。鉴于估值仍属 合理，加上盈利前景向好、利率回落，以及监管松绑与并购活动、首次公开招股(IPO)等利好因素，该 行增加了对美国小型股的配置。 看淡一方指出，多项不确定因素正逐步浮现，包括估值水平偏高、市场升势集中于少数股份、美联储在 领导层变动下的政策方向仍存变数、劳动市场出现降温迹象，以及美国中期选举带来的政治风险。 ...

创始人表示，如果Ricursive成功实现其自动化设计流程，科技公司将在几周甚至几天内就能完成芯片设 计，这将引发"定制硅芯片的大量涌现"，彻底改变半导体行业的格局。 目前，AI芯片设计自动化已成为资本新宠。除了Ricursive，由Naveen Rao创立的Unconventional AI去年 底也以45亿美元估值获得了a16z领投的融资。 智通财经获悉，两个月前才正式成立的人工智能(AI)芯片初创公司Ricursive宣布完成3亿美元融资，估 值达40亿美元。本轮融资由Lightspeed领投，NVentures(英伟达风险投资部门)、DST Global及Radical AI 等跟投。所募得的资金将主要用于加速其AI驱动的芯片自动化设计技术研发，旨在彻底革新半导体行 业设计流程。 据悉，Ricursive致力于利用AI系统自动设计并改进AI芯片。该公司由前谷歌研究员Anna Goldie和Azalia Mirhoseini创立。两名创始人此前开发的AlphaChip强化学习方法已被应用于谷歌四代TPU芯片的布局设 计中。 Ricursive正在构建一种能够自动创建硅衬底层并加速芯片迭代的系统。该公司创 ...

Core Insights - Micron Technology (MU.US) is set to announce an investment in expanding storage chip manufacturing capacity in Singapore to address the global shortage of storage chips [1][2] - The investment will focus on NAND flash memory, which is critical for various applications including AI infrastructure [1][2] Group 1: Investment Plans - Micron is expected to reveal its investment plan on Tuesday, with a significant focus on increasing NAND flash memory production [1] - The company has already invested $7 billion in a high-bandwidth memory (HBM) advanced packaging facility in Singapore, which is projected to begin operations in 2027 [2] Group 2: Market Context - The global demand for storage chips has surged due to the increasing need for AI infrastructure, leading to a severe supply shortage affecting consumer electronics and AI service providers [2] - Analysts predict that the supply gap for global storage chips may persist until the end of 2027 [2] Group 3: Competitive Landscape - Micron's main competitors, Samsung (SSNLF.US) and SK Hynix, have also announced plans to build new production lines and have expedited their production timelines [2] - Recently, Micron has been in talks to acquire a wafer fab from Taiwan's Nanya Technology for $1.8 billion to enhance its DRAM wafer production capacity [2]

转自：扬子晚报 来源：新华社 比利时联邦检察官说，诈骗团伙通过电子邮件、电话、即时通讯软件布设陷阱，利用人工智能(AI)生成 的假视频，冒充比利时国王菲利普或其核心幕僚，企图骗取与王室可能有关系的人员钱财。 本月新一波诈骗活动中，骗子还以国王名义向比利时企业高管发送"视频访谈邀请"或是"晚宴邀请"，并 要求对方为这些虚假活动支付"赞助费"。除外国政要和商界领袖外，该团伙还向与比利时王室关系密切 的比利时本土家庭下手。 比利时联邦检察官办公室在一份声明中说："所幸，大多数受害者很快识破了这一骗局。"不过，该团伙 仍骗取了一名受害者的钱财。联邦检察官说，目前正联合联邦警察的专业团队，对相关诈骗未遂案件展 开调查。 据新华社报道，比利时调查人员24日说，2025年年初开始，一伙身份不明的诈骗犯冒充比利时王室成 员，向外国政界、商界要人等骗取钱财。 1月7日， 在比利时布鲁塞尔，市民在雪中步行。新华社记者 彭子洋 摄 ...

Group 1 - The article discusses the recent focus on the Davos Forum and highlights various geopolitical events, including tensions between the U.S. and Canada regarding trade agreements with China [2][6][7] - Canadian Prime Minister Carney has called for citizens to "buy local" in response to external threats, emphasizing self-reliance and support for Canadian products [7] - The Netherlands' largest pension fund, ABP, has significantly reduced its holdings in U.S. Treasury bonds by nearly 40% over a six-month period, while increasing its holdings in German bonds [7] Group 2 - The article reports on the potential new chair of the Federal Reserve, Rick Rieder from BlackRock, who has overtaken Kevin Walsh in the nomination race, with a probability of 55% for Rieder [9][12] - President Trump has indicated he has a preferred candidate for the Federal Reserve chair position but has not disclosed further details, with the announcement expected soon [11][12] - Rieder's lack of prior experience at the Federal Reserve is seen as an advantage, as he is perceived to be less constrained by the institution's internal dynamics [16] Group 3 - Elon Musk announced at the Davos Forum that the Optimus robot will be commercially available by the end of 2027, with a projected price of $20,000 [17][18] - Musk predicts that the number of humanoid robots will exceed the human population by 2040, with plans for significant production increases leading up to that date [18][20] - The production strategy for Optimus includes completing complex tasks in Tesla factories by the end of 2026, with an initial production target of 50,000 units in 2026 and scaling up to 1 million by 2030 [18][20]

Group 1 - The core point of the news is that U.S. stocks and bonds are experiencing significant sell-offs, influenced by geopolitical tensions and policy uncertainties from the Trump administration [1][2][5] - U.S. stock funds saw an outflow of nearly $17 billion during a week when President Trump threatened tariffs on European countries over Greenland, but the market rebounded after he retracted the threat [2][3] - India has reduced its holdings of U.S. Treasury bonds to $174 billion, a 26% decrease from its peak in 2023, marking a five-year low, as part of a strategy to diversify foreign reserves and support its currency [4][6] Group 2 - Swedish and Danish pension funds are selling off U.S. Treasuries due to concerns over the unpredictability of the U.S. government and rising national debt, with the largest Swedish fund selling off approximately $7-8 billion worth of U.S. bonds [7][8] - The Danish "Academic Pension Fund" plans to sell $100 million in U.S. bonds, citing poor fiscal conditions in the U.S. government as a reason for their decision [7][8] - European pension funds are also reducing their exposure to U.S. equities, driven by fears of a bubble in the U.S. AI sector, with significant assets managed by these funds [8]

美股、美债被抛售了？ 与此同时，该行在一份援引EPFR Global数据的报告中称，在截至1月21日当周，欧洲股票基金迎 来了自6月以来最强的六周资金流入，而日本股票基金则在截至1月21日的一周内实现了自去年10 月以来最大的单周资金净流入。 这些数据大体反映了在特朗普随后软化立场之前、市场剧烈波动期间的资金流向。后来，在北约 秘书长马克·吕特（Mark Rutte）于瑞士达沃斯世界经济论坛促成形势取得突破后，特朗普放弃了 关税威胁。 周三，特朗普表示已经就格陵兰岛问题达成框架协议，并将放弃原先的关税计划，且排除军事选 项。随后，美股大幅反弹，已收复大部分失地。特朗普关税立场的反复令市场剧烈波动，随后经 济数据向好显示美国经济仍保持稳健，推动美国股市反弹。尽管如此，在下周美联储会议前，美 国政策的不可预测性仍令美元承压。 以Michael Hartnett为首的美银策略师在报告中写道，美银的"牛熊指标"仍显示对股市整体的"极 端"看涨情绪，尽管部分基金出现"大额流出"后，这一情绪略有回落。 据最新消息，美国银行表示，在美国总统特朗普威胁因格陵兰岛问题对部分欧洲国家加征关税的 一周里，美股资金流出接近170亿美 ...

Group 1 - The core viewpoint of the articles is that the integration of short videos and live streaming into real estate marketing is becoming essential, with the establishment of the Guangzhou Real Estate Agency Self-Media Professional Committee to regulate and promote professional practices in this area [1][3] - The committee aims to address issues of false advertising and misinformation in the real estate sector, emphasizing the importance of using authoritative information and maintaining a professional stance [1][3] - The rapid growth of self-media accounts with real estate characteristics is transforming marketing strategies within the industry, leading to both opportunities and challenges [1][3] Group 2 - The committee consists of 13 members, including state-owned enterprises and traditional real estate agencies, indicating a diverse representation in the industry [3] - A "Negative Behavior List" has been published, outlining 16 specific negative behaviors that real estate self-media practitioners should avoid, such as misinformation and unethical competition [3][5] - The association will implement self-regulatory measures against those who violate the guidelines, including warnings, credit deductions, and potential reporting to internet platforms or administrative authorities for severe cases [3][5] Group 3 - Specific negative behaviors include the use of misleading data, exaggerated claims, and the publication of false or misleading property information [7][8][9] - The list also highlights the importance of accurately representing property conditions and avoiding the promotion of unrealistic investment returns [9][10] - The association encourages self-media practitioners to report any violations of the guidelines to maintain industry integrity and protect consumer interests [5][9]

Market Performance - The Hang Seng Index closed at 26,629.96, up 44 points or 0.17%[3] - The total market turnover was HKD 234.86 billion, with a net inflow of HKD 5.24 billion from northbound trading[3] - Among 88 blue-chip stocks, 50 saw an increase in their prices[3] Economic Outlook - Global economic confidence remains weak, with a slight improvement noted in the Asia-Pacific region's confidence index, reaching its highest since Q2 2024[6] - Despite a resilient global economy, risks such as geopolitical tensions and trade restrictions continue to pose challenges[6][7] Gold Price Forecast - Goldman Sachs raised its gold price forecast for the end of 2026 from USD 4,900 to USD 5,400 per ounce, anticipating monthly purchases of 60 tons by central banks[8] - Spot gold prices fell 0.8% to USD 4,799.79, influenced by easing geopolitical tensions and a stronger dollar[8] Corporate Developments - Baidu launched its Wenxin 5.0 model, which has 24 trillion parameters and supports various forms of media[10] - WH Group's subsidiary Smithfield announced the acquisition of Nathan's Famous for USD 102 per share, valuing the deal at approximately USD 450 million[11][12] - China Shipbuilding Leasing plans to issue HKD 2.338 billion convertible bonds, with a conversion price of HKD 2.39 per share, representing a 7.17% premium[13]

据悉，TBI杰出品牌创新奖作为中国品牌界极具影响力的综合性权威荣誉，深度聚焦数字时代的品牌增 长路径，旨在发掘并致敬兼具创新魄力与前瞻视野的行业典范与实力服务商。本届赛事吸引了包括众多 知名品牌方、服务商及媒体在内的578家公司踊跃参与，累计收到1744件参赛作品。历经多维度、深层 次的严苛评审，奖项的行业标杆价值愈发凸显，竞争尤为激烈。 在当前中国市场高度细分、消费者需求快速迭代、传播渠道日益多元的背景下，大健康品牌的可持续增 长面临着前所未有的挑战与机遇。作为在大健康垂直领域深度耕耘的专业媒介代理团队，红蝉科技始终 以敏锐的市场洞察为导向，以深刻的消费者理解为核心，通过整合多元化的传播策略与媒介资源，为合 作品牌构建了高效的增长路径，成功应对市场挑战，把握发展机遇。 此次获得"年度媒介代理服务商"大奖，充分体现了红蝉科技在达人营销与品牌传播领域的卓越实践能 力。该公司突破了传统的单点投放模式，创新地将达人营销升级为体系化的"事件化表达"，通过精准的 近日，备受瞩目的2025第六届TBI杰出品牌创新奖获奖结果在上海正式揭晓。深耕大健康领域的专业服 务商红蝉科技，凭借其卓越的媒介代理整合能力、前瞻的创新思维与 ...