Key Takeaways VRT posted Q1 sales of $2.04B, up 24% YoY, fueled by rising AI infrastructure demand. New AI-ready solution for NVIDIA's GB300 NVL72 enables 142kW per rack with liquid-air cooling. Orders grew 13% YoY, driving backlog to $7.9B as Vertiv expands its AI-aligned portfolio.Vertiv’s (VRT) digital infrastructure portfolio has been gaining traction as hyperscalers and enterprises increasingly scale AI deployments to support high-performance data centers. Vertiv provides integrated solutions spannin ...

聚焦核心龙头及边际变化。 当前，正进入半年末，市场风险偏好波动可能加大，确定性将成为投资的核心抓手。 对计算机行业而言，目前板块位置及持仓水平较低，建议从两方面把握确定性： 1 ）底部的核心龙头，特别是 AI 及国产化领域的龙头； 2) 边际变化较大的细分领域及个股。 点击上方"公众号"可订阅哦！ 兴业证券计算机小组 蒋佳霖/孙乾/杨本鸿/陈鑫/张旭光/杨海盟/桂杨 本周观点聚焦 周观点 持续聚焦核心龙头及边际变化 桂 杨 SAC执业证书编号：S0190524040005 1、本周 观 点： 持续聚焦核心龙头及边际变化 2、深度跟 踪 ： 从火山 Force 原动力大会看大厂 AI 生态 使用本研究报告的风险提示及法律声明 兴业证券股份有限公司经中国证券监督管理委员会批准，已具备证券投资咨询业务资格。 本报告仅供兴业证券股份有限公司（以下简称"本公司"）的客户使用，本公司不会因接收人收到 本报告而视其为客户。本报告中的信息、意见等均仅供客户参考，不构成所述证券买卖的出价或征价 邀请或要约。该等信息、意见并未考虑到获取本报告人员的具体投资目的、财务状况以及特定需求， 在任何时候均不构成对任何人的个人推荐。客户应 ...

Core Insights - SoundHound AI's launch of Amelia 7.0 represents a significant advancement in voice AI, transitioning from reactive assistants to fully autonomous AI agents capable of understanding, reasoning, and acting independently [1][10] - The integration of Polaris ASR in Amelia 7.0 enhances performance with low latency and 99% intent recognition accuracy, positioning SoundHound as a leader in the emerging agentic AI category [2] - In Q1 2025, SoundHound's revenue increased by 151% year-over-year to $29.1 million, driven by growth in voice commerce within the restaurant and automotive sectors [3][10] Company Developments - Amelia 7.0 is expected to provide defenses against commoditization in the speech-to-text market and create new revenue opportunities in various sectors such as healthcare and finance [4] - The company has a strong financial position with $246 million in cash and no debt, and it maintains guidance for 2025 revenue between $157 million and $177 million [3][4] - SoundHound's stock has seen a decline of 52.1% year-to-date, underperforming the industry average decline of 6.7% [9][10] Competitive Landscape - SoundHound faces increasing competition from major players like Microsoft and Google, both of which are advancing their own voice AI technologies [6][7][8] - Microsoft leverages its Azure OpenAI and Nuance Communications to target high-value sectors similar to those SoundHound aims to penetrate [7] - Google, with its Assistant and Vertex AI platforms, poses a significant challenge due to its established ecosystem and scalability [8] Financial Metrics - SoundHound's current forward 12-month price-to-sales (P/S) ratio is 20.65, which is higher than the industry average of 19.32 [13] - The consensus estimate for SoundHound's loss per share in 2025 remains at 16 cents, reflecting an improvement from a loss of $1.04 per share in the previous year [14]

Core Insights - BigBear.ai Holdings, Inc. (BBAI) is focusing on the intersection of artificial intelligence and national security, reporting $34.8 million in revenues for Q1 2025, a 5% increase year over year, driven by defense and homeland security contracts [1][9] - The company faces challenges with profitability, posting a net loss of $62 million in the same quarter, while adjusted EBITDA was negative at $7 million [2] - BigBear's backlog has grown to $385 million, a 30% increase from the previous year, indicating strong future potential [2] Financial Performance - The company ended Q1 2025 with $108 million in cash and reduced its convertible debt from $200 million to $142 million [2] - The Zacks Consensus Estimate for 2025 loss per share is projected at 41 cents, widening from 21 cents in the past 60 days, but still indicating an improvement from a loss of $1.10 per share a year ago [10] Competitive Landscape - BigBear.ai competes with established players like Palantir Technologies and Booz Allen Hamilton in the national security AI sector [5] - Palantir leads the government AI software market with strong federal relationships and profitability, setting a high competitive bar for BigBear [6] - Booz Allen provides robust consulting-led AI deployment, leveraging its scale and existing contracts to deliver AI-powered defense solutions [7] Stock Performance and Valuation - BigBear.ai shares have declined by 13.9% year to date, compared to a 6.7% decline in the Zacks Computers - IT Services industry [8] - The stock currently trades at a 6.33X forward 12-month price-to-sales (P/S) ratio, which is lower than its industry average [13]

Alithya Group Inc. (OTCPK:ALYAF) Q4 2025 Earnings Conference Call June 12, 2025 ET Company Participants Bernard Dockrill - Chief Operating Officer Debbie Di Gregorio - Chief Financial Officer Nathalie Forcier - Chief Legal Officer & Corporate Secretary Paul Raymond - President, CEO & Director Conference Call Participants Divya S. Goyal - Scotiabank Global Banking and Markets, Research Division Jerome Dubreuil - Desjardins Securities Inc., Research Division Meng Shao - National Bank Financial, Inc., Research ...

Core Insights - ServiceNow's enterprise workflow automation suite is gaining traction as companies adopt digital tools to streamline operations across various departments [1][4] - The Now platform serves as a crucial driver for workflow automation and cross-functional service delivery [2] Product Development - ServiceNow's latest Core Business Suite extends the Now platform into finance and supply chain operations, automating back-office functions without replacing existing ERP systems [3][11] - The Core Business Suite workflows are powered by Now Assist, which utilizes AI for automating tasks such as document handling and issue resolution [3] Financial Performance - In Q1 2025, ServiceNow reached 508 customers generating over $5 million in Annual Contract Value (ACV), reflecting a 20% year-over-year growth [4][11] - Subscription revenues hit $3.01 billion in Q1 2025, marking a 20% year-over-year growth in constant currency, surpassing the Zacks Consensus Estimate by 0.28% [5][11] Competitive Landscape - ServiceNow faces intense competition in workflow automation from Oracle and Pegasystems, both enhancing their automation capabilities across finance and operations [6] - Oracle is leveraging its Fusion Cloud Applications to offer AI-powered tools for finance and supply chain, while Pegasystems is enhancing its Pega Platform with low-code automation and generative AI capabilities [7][8] Stock Performance and Valuation - ServiceNow's shares have declined 5.2% year to date, underperforming the broader Zacks Computer & Technology sector's return of 2.4% [9] - The forward 12-month Price/Sales ratio for ServiceNow is 14.77X, compared to the industry's 19.35X, indicating a premium valuation [13]

Core Points - UNICOM Engineering has been awarded the Dell Technologies 2025 OEM Solutions Services Sales Partner of the Year, recognizing its achievements in delivering innovative OEM solutions that enhance operational efficiency and accelerate time to market [1][2] - The award is part of Dell Technologies' annual partner awards program, which highlights organizations that excel in customer success and digital transformation [2] - UNICOM Engineering's recognition is attributed to its technical expertise, integration capabilities, and commitment to service excellence [2][3] Company Overview - UNICOM Engineering is a leading provider of purpose-built application platforms and deployment services for solution providers and OEMs in various markets, including data center, storage, security, and video [5] - The company focuses on helping customers optimize business efficiencies and reduce total cost of ownership through its solution design technologies and integration expertise [5] - As a Titanium OEM partner, UNICOM collaborates with Dell Technologies to create high-performance platforms tailored for software developers and OEMs [3][4] Technological Advancements - To meet the growing demands of AI and high-performance computing workloads, UNICOM Engineering integrates advanced liquid cooling technologies, such as Direct-to-Chip and immersion cooling [6] - The company aims to deliver high-density, energy-efficient infrastructure that enhances performance, scalability, and sustainability through strategic partnerships [6]

程序员的市场真是变天了！ 朋友早上还正常去上班，下午就拿着大礼包回来了，干的好好的说裁就裁了？！ 还真是，最近花qi爆出将裁员3500个技术人，连大家公认的铁饭碗都不保了， 传统技术真的不香了吗？还有出路吗？ 前言 其 实不是岗位不火了，而 是 技术栈该迭代了！ AI时代，各大厂都在加紧落地AI应用，行业迭代的背后， 是AI技术人才的严重稀缺！ 最近粉丝也反馈： " 投了七、八十份常规开发岗， HR 都已读不回，但我发现，凡是跟 AI 沾点边的， HR 都着急问最快到岗时间，薪资还高的离谱 ……" 尤其是那些 能把 RAG、Agent 、微调、 Function Call等 AI应 用开发技术搞懂的人，大厂年薪直达 70-100W ，今年已经被市场抢疯了！！ 不需要懂深奥的算法， 现有的 "连接、封装、服务"能力才是大模型接入业务的核心刚需， 就足够打造出智能客服、 Al 助手等爆款应用，做的都 是程序员的老本行！ 不主动求变的技术人迟早会被淘汰， 现在市场上对懂AI的技术需求远大于供给！这对于 职业发展陷入瓶颈/或业务正面临转型 的技术人来说，无 疑是一个巨大的机会！ 如何快速补齐 AI大模型底层原理、 应 ...

Company Overview - American Express has been experiencing robust top-line growth since the pandemic, although this growth has moderated somewhat over the past year. The company is still targeting growth above historical levels, aiming for an increase of 8% to 10% in the coming years [5]. Growth Outlook - The total addressable market (TAM) for American Express is estimated to be growing at approximately 6% to 7%. This growth is driven by a combination of U.S. GDP growth and inflation, with international markets growing at a faster rate due to greater cash conversion to credit opportunities [6].

Core Insights - Unisys Corporation (UIS) is focusing on Device Subscriptions Service (DSS) as a growth driver within its Digital Workplace Solutions (DWS) segment, aligning innovations with client needs such as cost optimization and security [1][9] - The company has established a solid pipeline of DSS opportunities, leading to new client investments, including contracts for 380,000 devices with a global tech company and 21,000 devices with a biotech client [2][9] - Unisys has added technology partners Easy Vista and Freshworks to enhance its DWS ecosystem, expecting an increase in DSS signings in the latter half of the year [3][9] Competitive Landscape - Unisys is competing in the device-as-a-service (DaaS) market against major players like HP Inc. and Dell Technologies, both of which have established subscription-based hardware platforms [4] - HP's DaaS model offers bundled solutions with analytics-driven fleet management, targeting large enterprises for operational efficiency [5] - Dell's APEX and ProSupport services provide robust endpoint security and automation, emphasizing flexibility and integration similar to Unisys' approach [6][7] Financial Performance - Unisys shares have increased by 22.4% over the past three months, outperforming the industry growth of 5% [8] - The company's current valuation is attractive, with a forward 12-month price-to-earnings (P/E) ratio of 5.23X, indicating a discount compared to industry peers [11] - The Zacks Consensus Estimate predicts a year-over-year earnings increase of 28.9% for 2025 and 120.7% for 2026, with stable earnings estimates over the past month [13]