【太平洋科技快讯】2月25日消息，微信员工"客村小蒋"昨天在微博发文，详解微信最近更新的"面对面收 照片和文件"功能，用户无需流量、无需添加好友，只需保持设备靠近即可高速接收原始照片、视频及文 件。该功能入口位于"扫一扫"中的"我的二维码"页面，对方扫码后即可发送，操作便捷。 / L VH IX / D 面对面收红包 1751 扫二维码,给我发红包。 该功能适用于多种场景：如聚会时可避免建群，不用担心画质压缩和流量消耗;同时解决了iOS"隔空投 送"与安卓互传联盟之间的跨系统传输难题，实现便捷分享。 ...

Core Insights - AI developers face a voice latency problem that results in conversations sounding robotic. Agora, Inc. offers a solution through its unique network SD-RTN and Conversational AI Engine 2.0 [1] Company Overview - Agora, Inc. operates in the AI and communication technology sector, providing solutions aimed at improving voice interaction quality [1]

STRATEGY MATTERS The HALO effect: Heavy Assets, Low Obsolescence in the AI era Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to www.gs.com/research/hedge.html. Guillaume Jaisson +44(20)7552-3000 | guillaume.jaisson@gs.com Goldman Sachs International Peter Oppenheimer +44(20)7552-5782 | peter.oppenheimer@gs.com Goldman Sachs International Sharon Bell +44(20)7552-13 ...

24 February 2026 | 6:37PM EST Portfolio Strategy Research US EQUITY VIEWS The broadening and narrowing of the AI trade AI capex surprises and spreading fears of disruption risk have injected new volatility into the AI trade in recent weeks. Memory stocks have rallied by an average of 55% YTD while software stocks have plunged by 24%. We expect modest further upside to consensus hyperscaler capex estimates but continue to expect a peak in the capex growth rate later this year. Consensus estimates show hypers ...

报道称，这家总部位于旧金山的 3D 游戏公司正与一位顾问合作，评估 Unity 中国的潜在兴趣。据相关 人士称，Unity Software 可能希望对中国业务进行超过 10 亿美元（IT之家注：现汇率约合 68.89 亿元人 民币）的估值。 IT之家 2 月 25 日消息，据彭博社今日报道，知情人士透露，Unity Software 公司正在考虑其中国业务的 多种选项，包括可能出售中国业务。 Unity Software 的股价今年以来下跌逾 60%，抹去了 2025 年的涨幅。 报道提到，目前相关磋商仍在进行中，尚未达成任何最终协议。Unity 官方代表对此拒绝置评。 ...

Group 1 - The core viewpoint of the articles highlights the rapid evolution and application of AI technologies, particularly in the context of large models and their integration into various sectors, driven by both policy and technological advancements [1][2] - The domestic large model landscape is seeing significant iterations with the release of models like GLM-5 and MiniMax M2.5, focusing on enhancing Agent and multimodal capabilities [1] - The National Development and Reform Commission has issued guidelines to accelerate the application of AI in the bidding and tendering sector, aiming for nationwide implementation by the end of 2027 [1] Group 2 - Three major trends in the evolution of large models are identified: a shift from "brute force expansion" to "deep reasoning," a transition from Chatbots to Agents, and a consolidation of the industry landscape towards leading players and domestic open-source breakthroughs [2] - User habits are evolving from "active questioning" to "automated execution," indicating a significant shift in how AI technologies are utilized [2] - The top ten weighted stocks in the CSI Software Service Index account for 60.27% of the index, with companies like iFLYTEK and Kingsoft leading the way [2]

分析师Brent Thill在给客户的报告中写道："我们认为市场的担忧忽略了一个关键点：IBM已在主动推进 自我革新。其Watsonx Code Assistant for Z产品将生成式AI直接嵌入大型主机，助力COBOL向Java的重 构，并在完整系统环境下实现应用的现代化升级。值得强调的是，IBM软件业务的再加速并非依赖大型 主机，而是得益于混合云、人工智能、自动化和数据领域的整体发展势头。" 智通财经APP获悉，本周一，IBM(IBM.US)股价大幅下跌，主要受到Anthropic旗下Claude Code产品能 够翻译COBOL语言的消息影响，引发市场对这家科技巨头传统业务的担忧。然而，投资机构杰富瑞指 出，这一导致IBM股价创下26年来最大单日跌幅的抛售，实际上忽略了IBM正在进行自我革新的关键事 实。 Thill还指出，大型主机的业务韧性远超多数投资者的预期。IBM此前透露，其主机业务持续增长，70% 的客户正在扩展相关负载。 Thill维持对IBM的"买入"评级，目标价为370美元。 "目前，全球约73%的交易量仍由大型主机处理，并支撑着各行业的关键任务系统，这充分体现了该平 台的深度扎根与不 ...

过去几年，市场对 AI 的看法其实挺一致：AI 来了，效率上去，成本下来，利润变多，股价自然就涨。 这个逻辑几乎没什么争议。 但到了 2026 年，情绪变了。头部 SaaS 公司增速放缓，软件板块集体承压。市场开始意识到：AI 越 强，可能意味着现有的商业壁垒会越快崩塌。 Citrini 这份报告《2028全球智能危机》（THE 2028 GLOBAL INTELLIGENCE CRISIS）正是为了回应 这种焦虑。报告联合作者 Alap Shah 在采访中强调，他们不是在预测未来，而是基于长期模型做了一次 压力测试：如果 AI 真的像大家期待的那样持续变强，哪些商业逻辑会最先行不通？哪些行业会最先被 波及？ 这份报告，就是拆解市场到底在怕什么。 第一节｜白领收入下滑，消费在萎缩 危机从哪里开始？市场最怕的是什么？Shah 在采访中谈得最多的，不是模型参数或技术突破，而是白 领的工资在下滑和岗位在减少，而且幅度惊人。 美国 IT 行业的就业人数，从 2022 年高点到 2026 年初，累计下降了 8%。这是过去十年都没出现过的 跌幅。这个行业，正是 AI 渗透最快的地方。 Shah 直接指出：一个行业越容易把 ...

Core Insights - The article discusses the significant impact of AI on the SaaS industry, particularly following the launch of Anthropic's AI tool for legal services, which caused a sharp decline in stock prices of major SaaS companies and raised concerns about the traditional subscription model [3][4][5]. Group 1: Stock Price Decline - The launch of Anthropic's AI tool led to a single-day stock price drop of over 13% for legal information service giants like WEX Group and LexisNexis, triggering a broader sell-off in the software industry [3][5]. - The S&P North American Software Index saw a cumulative decline of 15% in January 2026, marking its worst monthly performance since the 2008 financial crisis [6]. - The term "SaaSpocalypse" was coined to describe the drastic sell-off in the SaaS sector, with over $1 trillion in market value evaporating from software companies [3][6]. Group 2: Challenges to Subscription Model - The traditional SaaS business model, which relies on a "seat-based payment" system, is being challenged by AI's ability to automate tasks previously requiring multiple employees [4][5]. - Companies like Salesforce and Intuit experienced significant stock price drops, with Salesforce's stock down 23% year-to-date and 30% from its peak in December 2025 [8][5]. Group 3: Need for Valuation Restructuring - IT budgets are becoming increasingly fixed, with major tech companies like Amazon and Alphabet allocating substantial funds (approximately $200 billion and $175-185 billion respectively) towards AI infrastructure, thereby squeezing traditional SaaS budgets [7]. - The shift in IT spending from traditional software to AI solutions has led to a reevaluation of SaaS company valuations, moving from a user-based growth model to a performance-based payment model [10][11]. Group 4: Transformation Paths for Leading Companies - Major SaaS companies like Salesforce and Microsoft are restructuring their products to create AI-native enterprise service systems rather than simply adding AI as a feature [14][15]. - Salesforce's transition has faced challenges, including a significant layoff of 4,000 customer service positions, which later resulted in service quality issues and increased customer complaints [17][19]. - Adobe has adopted a different strategy by integrating AI deeply into its Creative Cloud, allowing users to pay extra for AI features rather than reducing seat licenses [20][21]. Group 5: Industry Reconstruction Insights - The impact of AI on the SaaS industry represents a "value reconstruction" rather than a complete industry replacement, emphasizing the need for SaaS companies to redefine their core value propositions [23]. - Future software business models may evolve into hybrid models, performance-based models, or platform models, with no single approach suitable for all companies [25][26][27]. - Investors are encouraged to shift their focus from user growth to AI monetization capabilities and the quality of profits [30]. Group 6: Implications for IT Professionals - Companies must redefine product value by focusing on business outcomes rather than merely listing features, as clients prioritize efficiency and cost reduction [31][33]. - The traditional seat-based payment model is becoming obsolete, necessitating a shift to performance-based or usage-based pricing structures [34]. - Establishing industry-specific expertise and trust with clients is crucial for SaaS companies to maintain a competitive edge in the AI era [35][36].

Anthropic hosted its enterprise agents event and unveiled several collaborations, calming investor fears that AI could significantly disrupt the software sector. The company also introduced updates to its Claude Cowork platform, allowing businesses to integrate the productivity tool with a range of enterprise applications, including Salesforce’s Slack, Intuit, DocuSign, LegalZoom, FactSet and Google’s Gmail.Anthropic added that organisations will be able to deploy customizable plugins tailored to functions ...