投资者们对人工智能(AI)颠覆性的担忧情绪持续发酵，导致上周五触底修复式反弹后的软件股在本周再 次经历大规模抛售，来自华尔街知名投资机构Bessemer Venture Partners的合伙人Byron Deeter 认为，当 前全球股票市场软件股，尤其是美股软件股经历的剧烈抛售动荡为投资者们提供了十分难得的"逢低买 入"机遇，并宣称软件与SaaS相关板块"绝对处于严重超卖状态"。尽管本周再度出现了急剧下跌，Deeter 仍认为市场的混乱正在为精明的投资者们创造有利的获利条件。 在接受周四媒体采访时，Deeter 将当前这种潜在V形轨迹与新冠疫情期间以及全球金融危机期间所见到 的类似反弹模式进行比较。不过，他警告称，这次复苏在本质上将截然不同，并预测不同增长前景以及 基本面预期的软件公司之间将出现"巨大的分化"，而不是市场齐涨式的统一触底反弹节奏。 软件股被大举抛售之际，"AI重塑软件盈利"的增长叙事在悄然扩散 对于全球软件股投资者而言，聚焦于"AI+数字广告"的AI应用领军者Applovin(APP.US)可谓用强劲业绩 回应做空势力，并且有力证明：Anthropic刮起的代理式AI智能体风潮所引发的"软 ...

（原标题：?软件股奏响"超卖"乐章! 恐慌抛售孕育逢低买入机遇 但分化将愈发明显） 智通财经APP获悉，投资者们对人工智能(AI)颠覆性的担忧情绪持续发酵，导致上周五触底修复式反弹 后的软件股在本周再次经历大规模抛售，来自华尔街知名投资机构Bessemer Venture Partners的合伙人 Byron Deeter 认为，当前全球股票市场软件股，尤其是美股软件股经历的剧烈抛售动荡为投资者们提供 了十分难得的"逢低买入"机遇，并宣称软件与SaaS相关板块"绝对处于严重超卖状态"。尽管本周再度出 现了急剧下跌，Deeter仍认为市场的混乱正在为精明的投资者们创造有利的获利条件。 Deeter 明确区分了面临横向攻击向量(horizontal attack vectors)的公司与拥有可防御商业模式的大型软件 公司。他认为，Asana(ASAN.US)、DocuSign(DOCU.US)以及Adobe(ADBE.US)等聚焦与特定功能以及 工具类软件公司更容易受到代理式AI智能体的彻底颠覆;而他则指出，"记录系统(systems of record)"与 Shopify(SHOP.US)和 ServiceT ...

Market Overview - Wall Street indexes experienced a sharp decline, with the Nasdaq falling 2% as investors sold off tech shares and transportation stocks due to concerns over AI disruption [1][2] - The Dow Jones Industrial Average dropped 669.42 points (1.34%) to 49,451.98, the S&P 500 fell 108.71 points (1.57%) to 6,832.76, and the Nasdaq Composite decreased by 469.32 points (2.03%) to 22,597.15 [3] Sector Performance - Investors shifted from riskier sectors to more defensive investments such as utilities, consumer staples, and real estate [2] - Cisco Systems reported a quarterly adjusted gross margin below estimates, leading to a 12.3% drop in its shares, which negatively impacted the broader technology sector [5] - The S&P 500 software index fell 1.7%, with AppLovin being the largest decliner at 19.7% after disappointing fourth-quarter results [6] Transportation Sector - The Dow Jones Transportation Average fell 4%, with significant losses in companies like Landstar (down 15.6%), CH Robinson (down 14.5%), and Expeditors International (down 13.2%) [7] - Concerns about AI disruption in the transportation sector were heightened by a new tool from Algorhythm Holdings, which caused investor worries [7] Economic Indicators - A stronger-than-expected jobs report raised concerns that the Federal Reserve may be less likely to cut rates, impacting investor sentiment [4] - The latest data showed a decrease in new applications for unemployment benefits, but the decline was less than expected, indicating lingering disruptions from winter storms [4][8] Semiconductor and Technology Stocks - The Philadelphia SE Semiconductor index fell 2.5%, while Equinix shares rose 10.4% after forecasting annual revenue above estimates, driven by strong AI-linked demand [9] - Personal-computer makers faced pressure, with Lenovo warning of shipment issues due to a memory-chip shortage, affecting shares of HP (down 4.5%) and Dell Technologies (down 9%) [9]

12 February 2026 | 4:03PM EST Equity Research Microsoft Corp. (MSFT) Microsoft is down ~15% since its 1/28 report, primarily for two reasons: 1) upward revisions to capex without upward revisions to Azure, resurfacing questions on ROI and Azure's competitive positioning relative to peers; and 2) ongoing debate on whether the knowledge worker applications business (Office 365) is disintermediated with new AI competition, such as Claude Cowork. We focus our analysis here on the first concern: capex ROI. Micro ...

智通财经APP获悉，投资者们对人工智能(AI)颠覆性的担忧情绪持续发酵，导致上周五触底修复式反弹 后的软件股在本周再次经历大规模抛售，来自华尔街知名投资机构Bessemer Venture Partners的合伙人 Byron Deeter 认为，当前全球股票市场软件股，尤其是美股软件股经历的剧烈抛售动荡为投资者们提供 了十分难得的"逢低买入"机遇，并宣称软件与SaaS相关板块"绝对处于严重超卖状态"。尽管本周再度出 现了急剧下跌，Deeter仍认为市场的混乱正在为精明的投资者们创造有利的获利条件。 在接受周四媒体采访时，Deeter 将当前这种潜在V形轨迹与新冠疫情期间以及全球金融危机期间所见到 的类似反弹模式进行比较。不过，他警告称，这次复苏在本质上将截然不同，并预测不同增长前景以及 基本面预期的软件公司之间将出现"巨大的分化"，而不是市场齐涨式的统一触底反弹节奏。 Deeter表示，投资者们对软件公司的态度已经转为怀疑，将它们视为"有罪，直到被证明是无罪"。他还 强调，股票市场当前正处于"给我看资金(show me the money)模式"，投资者们似乎对于软件公司转 向"AI+软件"雄心壮志以及对于 ...

Core Insights - Google has significantly upgraded its Gemini 3 AI model with the Deep Think mode, focusing on addressing complex challenges in modern scientific research and engineering, sparking a new wave of interest in "Gemini AI" [1][6] - The upgraded Deep Think mode is now available to Google AI Ultra subscribers and is the first time Google has provided this functionality through the Gemini API to select researchers, engineers, and large enterprises [1][7] Performance Metrics - The Deep Think mode achieved a score of 48.4% on the Humanity's Last Exam, setting a new industry standard for AI models [4][6] - It scored 84.6% on the ARC-AGI-2 benchmark, verified by the ARC Prize Foundation, and obtained a 3455 Elo rating on the Codeforces competitive programming platform [4][6] - The model also demonstrated gold medal-level performance in the written sections of the 2025 International Physics and Chemistry Olympiads, achieving 50.5% on the CMT-Benchmark [3][5] Application and Functionality - Deep Think is designed to facilitate practical applications, enabling researchers to interpret complex data and engineers to model intricate physical systems through coding [2][6] - The model's capabilities extend beyond mathematics and programming, now encompassing interdisciplinary research problems requiring a combination of physical intuition, structured chemical inference, mathematical formalization, and coding solutions [3][5] - The upgrade emphasizes structured reasoning and scalable inference capabilities, allowing for iterative reasoning across multiple hypothesis spaces [6][7] Market Position - Google’s Gemini 3 Deep Think competes with AI products from OpenAI and Anthropic, positioning itself as a leading solution in the AI landscape [5] - The model's ability to convert sketches into 3D printable files enhances its appeal and potential for widespread adoption in enterprise research and development workflows [7]

2月13日，A股三大指数集体低开，上证指数低开0.44%，深证成指低开0.66%，创业板指低开0.56%。 盘面上，AI审核概念表现活跃，人民网封涨停，浩瀚深度涨超10%，国投智能涨超8%，三未信安、吉大正元、中新赛克跟涨。 点评：消息面上，近期，部分网络账号发布AI生成合成信息时，存在利用虚假不实内容欺骗误导公众的问题，破坏网络生态。网信部 门督促网站平台深入排查整治，依法依约处置账号13421个，清理违法违规信息54.3万余条。 早盘太空光伏概念震荡下挫，双良节能跌停，亚玛顿、聚和材料、赛伍技术、金晶科技等跟跌。 另外，有色金属、光模块、影视传媒板块领跌。 展望后市，光大证券认为部分资金获利了结或者持币过节的倾向下，市场偏好和热点持续性都会较为平淡。节前沪深指数也难有大的 变化，预计延续窄幅震荡。 热门板块 1、AI审核概念表现活跃 AI审核概念表现活跃，人民网封涨停，浩瀚深度涨超10%，国投智能涨超8%，三未信安、吉大正元、中新赛克跟涨。 2、太空光伏概念震荡下挫 | | AI应用(02GN2343) | | (+) 板块 | | --- | --- | --- | --- | | | 1618.36 ...

Core Insights - Major AI companies like OpenAI and Anthropic are launching enterprise-level AI products that challenge existing enterprise software markets, prompting traditional software vendors like Microsoft and Salesforce to accelerate their own AI tools and management platforms [1][2] Group 1: Competitive Landscape - The competition involves four main product categories: browser-based agents, computer-operable agents, agent-building tools, and agent management consoles [1][2] - OpenAI and Google provide browser-based agents capable of executing multi-step tasks, while Anthropic's Cowork and Google's Gemini Computer Use are examples of computer-operable agents [2] - Agent-building tools such as Salesforce's Agentforce and Google's Gemini Enterprise allow clients to create agents that can access various enterprise applications [2] - The agent management console market features competitors like Microsoft's Agent 365 and OpenAI's Frontier, raising questions about the necessity of multiple consoles for clients [2] Group 2: Adoption Challenges - Despite the promising outlook, new agent technologies face significant challenges before widespread adoption, including security concerns and usability issues [3] - Companies like OpenAI and Anthropic indicate that their computer-operable agents are still in research preview, suggesting they are not yet ready for large-scale enterprise deployment [3] - Hilton's CTO Onkar Birk expressed caution in adopting new subscriptions, highlighting the complexity and investment required for developing customer support agents [4] Group 3: Traditional Software Companies' Response - OpenAI's strategy involves positioning its agent command technology above traditional enterprise "record systems," which are critical for storing business data [5] - Traditional enterprise application companies like Salesforce and Microsoft have not yet taken steps to block AI agents from accessing or modifying data within their systems [5] - There is a recognition that traditional companies are utilizing technologies from OpenAI and Anthropic to support their own agents, even as these AI firms promote their competitive tools [5] Group 4: Market Dynamics - Snowflake, a database company, has released a product supported by AI models from OpenAI and Anthropic, enabling clients to develop agents for searching and retrieving business metrics [6] - The competitive landscape is characterized by high stakes, with industry leaders feeling pressure to either achieve a $1 trillion valuation or face potential failure [6]

智谱GLM最新coding计划，提价40%后依然几小时全面售罄，国产ai编程的ds时刻已经来临。 ai低代码/编程方向，金现代，卓易信息，普元信息。 智谱GLM最新coding计划，提价40%后依然几小时全面售罄，国产ai编程的ds时刻已经来临。 ai低代码/编程方向，金现代，卓易信息，普元信息。 智谱GLM最新coding计划，提价40%后依然几小时全面售罄，国产a编程的ds时刻已经来临。 ai低代码/编程方向，金现代，卓易信息，普元信息。 智谱GLM最新coding计划，提价40%后依然几小时全面售罄，国产a编程的ds时刻已经来临。 ai低代码/编程方向，金现代，卓易信息，普元信息。 ...

Core Insights - ByteDance's video model Seedance 2.0 has gained significant traction overseas, with Elon Musk commenting on its rapid development, indicating a growing market interest in video generation capabilities [1][7] - The model has been fully integrated into Doubao and Jimeng, and is now available for enterprise trial, showcasing its multi-modal input and long narrative capabilities aimed at professional production scenarios [1][5] Group 1: Product Launch and Features - Seedance 2.0 has officially launched and is now integrated with Doubao and Jimeng products, along with the Volcano Ark experience center for user trials [5][8] - The model emphasizes original sound and image synchronization, multi-camera long narratives, and controllable multi-modal generation, targeting a broader range of creators and commercial content scenarios [5][8] - Key features include support for mixed inputs of text, images, audio, and video, original sound synchronization, multi-track audio output, and enhanced video editing capabilities [10] Group 2: Market Reception and Future Developments - The model's rapid adoption and high exposure have heightened expectations for competition in the video generation sector, with a focus on the pace of product iteration and market response [6][8] - ByteDance acknowledges that Seedance 2.0 is not yet perfect, with areas for improvement including detail stability, multi-character matching, and complex editing effects [9] - Upcoming upgrades for Doubao's large model and Seedance 2.0 are scheduled for February 14, 2026, which will significantly enhance foundational model capabilities and enterprise-level agent functionalities [14]