长江商报消息●长江商报记者 沈右荣 牛散投资寒武纪一度赚58亿元，沛县乾曜在摩尔线程身上最高浮盈约160亿元，私募大佬葛卫东押注沐曦股份 （688802.SH），躺赚多少？ 12月17日，被称为"中国版AMD"的沐曦股份科创板挂牌首日，股价大涨近7倍，收报829.90元/股，超越摩尔线 程，跃升为A股第三高价股，盘中，股价一度逼近900元。 股价暴涨，重仓押注沐曦股份的私募大佬葛卫东暴赚。根据长江商报记者粗略估算，葛卫东直接间接入股成本最 高约12.50亿元，沐曦股份上市首日，其持股市值约为223.56亿元，大赚约211亿元。 此外，大模型公司DeepSeek的创始人梁文锋浮盈逾4500万元。 跟摩尔线程一样，沐曦股份尚未实现盈利。2025年前三季度，公司实现的归母净利润为-3.46亿元，但同比减亏 55.79%。 沐曦股份给出了盈利时间表，预期2026年达到盈亏平衡。这一时间点，比摩尔线程早了一年。 作为A股市场第二家国产GPU明星股，沐曦股份的表现超出市场预期。 本次IPO，沐曦股份发行价104.66元/股，略低于摩尔线程的114.28元/股。其募资41.97亿元，仅略超摩尔线程80亿 元的一半。 在IP ...

Core Insights - Wallen Technology, established in 2019, specializes in intelligent computing solutions and has received multiple awards, including the SAIL award at the World Artificial Intelligence Conference [2] - The company plans to go public in Hong Kong in 2025, with funds primarily allocated for R&D in intelligent computing solutions [6] - Wallen's revenue is projected to grow from 0.499 million RMB in 2022 to 337 million RMB in 2024, reflecting a compound annual growth rate of 2500% [5] Product Roadmap - Wallen has launched several chip products, including the Wallen 106 and 110, with total sales exceeding 12,000 units [2] - The Wallen 166 chip was introduced this year, while the Wallen 20X series is expected to be commercialized by 2026, enhancing support for various data formats [2][34] - Future products, Wallen 30X and 31X series, are planned for commercialization in 2028 [2][34] Financial Performance - Wallen's revenue for 2022, 2023, 2024, and the first half of 2025 is reported as 0.499 million RMB, 62.03 million RMB, 337 million RMB, and 589 million RMB respectively, with net losses of -14.74 billion RMB, -17.44 billion RMB, -15.38 billion RMB, and -16.01 billion RMB [15][18] - The company has incurred a total R&D expenditure of 3.302 billion RMB since its inception, with a cumulative net loss of 6.357 billion RMB [18] Market Position - Wallen is expected to capture approximately 0.2% of the Chinese intelligent computing chip market, which is projected to reach $50.4 billion by 2025 [10][12] - The company holds a market share of 0.16% in the Chinese intelligent computing chip market and 0.20% in the GPGPU market as of 2024 [14] Customer Base - Wallen's revenue from its top five customers accounted for over 90% of total revenue in recent years, indicating a concentrated customer base [44][47] - The company has established partnerships with major telecom operators in China, facilitating large-scale deployments of its intelligent computing solutions [44] Team and Expertise - The founder and CEO, Zhang Wen, has extensive experience in corporate management and law, previously serving as the president of SenseTime [25] - The core technical team includes experts from leading companies such as Huawei, NVIDIA, and AMD, with a significant portion of the workforce dedicated to R&D [36][42] Technology and Innovation - Wallen's technology is built on five key pillars, including proprietary GPGPU architecture and a software platform designed to optimize performance for AI applications [39][42] - The company has filed 1,158 patent applications, making it one of the leading GPGPU companies in China in terms of patent filings [42]

盘前要闻 1、芯片需求旺盛，美光科技业绩与指引双"爆表"，盘后大涨逾9% 类型：行业 情绪影响：正面 受益于存储芯片供应趋紧、价格大幅上涨，以及人工智能数据中心需求迅猛增长，美光周三盘后公布第 一财季业绩，不但上季度业绩高于分析师预期，而且第二财季营收、毛利率、每股收益指引也大超预 期，并将2026财年资本开支预期从180亿美元提高至200亿美元，刺激该公司股价盘后涨超9%。 2、"券商航母"合并预案出炉！中金公司、东兴、信达今日复牌 类型：行业 情绪影响：正面 12月17日晚间，中金公司吸收合并东兴证券、信达证券，迎来重要进展。中金公司A股股票换股价格为 36.91元/股，东兴证券、信达证券与中金公司A股的换股比例分别为1:0.4373与1:0.5188，将于周四开市 起同步复牌。分析认为，这三家公司复牌可能会给券商板块带来较大助力。 3、市场监管总局：平台要求商家"全网最低价"可能构成垄断 类型：行业 情绪影响：中性 从市场监管总局获悉，平台要求商家"全网最低价"，可能构成滥用市场支配地位或者垄断协议行为。12 月17日，市场监管总局举行新闻发布会，介绍民生领域反垄断执法相关情况。其中指出，近期发布的 《 ...

Group 1 - The core point of the articles highlights the volatility in the tech sector, particularly driven by Oracle's loss of a key supporter for a major data center project, raising concerns about AI-related spending and debt financing [1] - The Nasdaq Composite Index fell by 1.81%, reaching its lowest level since late November, with Oracle's stock dropping by 5.4% after reports that Blue Owl Capital would not fund a $10 billion data center in Michigan [1] - Oracle's stock has declined nearly 46% since its peak in early September, amid growing unease on Wall Street regarding the financing of AI infrastructure through debt [1] Group 2 - In contrast to the negative sentiment, Micron, a key supplier to Nvidia, provided a bullish outlook, projecting approximately $18.7 billion in revenue for the current quarter, significantly above the market expectation of $14.5 billion, leading to a 3.8% increase in its stock price in after-hours trading [2] - The S&P 500 Index fell by 1.2%, but remains close to the record closing high set last week, as the tech sell-off prompted investors to seek safety in defensive sectors, with consumer staples performing well [2] - Energy was the best-performing sector in the S&P 500, rising over 2%, driven by President Trump's plans to impose a "full blockade" on sanctioned oil tankers entering and leaving Venezuela [2]

你知道吗？就在昨晚，特斯拉的股价一口气冲到了489.88美元，创下了它上市以来的最高纪录。可你能想象吗？就在五年前的2020年，特斯拉的股价还仅仅 停留在28美元左右。五年时间，从28块到接近490块，涨了超过17倍！ 要是你当时扔进去一万块钱，现在都快能买辆 Model S 了。但讽刺的是，同一个晚上，代表传统经济的道琼斯指数跌了0.62%，标普500指数跌了0.24%，这 俩大哥已经连着绿了三天。一边是火箭般蹿升的科技明星，另一边是步履沉重的老牌指数，这冰火两重天的戏码，正在当下的股市里真实上演。 昨晚的美股市场，压根就不是铁板一块。道琼斯指数低开低走，盘中一度跌超过1%，最后收跌0.62%。标普500指数也跟着低开低走，收盘时跌了0.24%。它 们俩可都已经是"三连跌"了。可就在这一片绿油油里，纳斯达克指数却顽强地翻红了，虽然也是低开低走，但尾盘硬生生拉了回来，最后微涨0.23%。 这纳斯达克能翻红，特斯拉绝对是头号功臣。昨晚特斯拉自己就大涨了3.09%，几乎是以一己之力拖着指数往上走。这还不是一天两天的行情，看看走势， 特斯拉最近二十天几乎天天都在涨，股价像坐上了火箭，不断刷新历史高点。市场里热钱涌动 ...

12月16日，美国劳工统计局一次性公布了10月和11月的非农就业数据。数据显示，美国11月非农就业人口增加6.4万人，好于市场预期的5万 人；但失业率却意外升至4.6%，高于9月的4.4%，创下2021年9月以来的新高。但与此同时，10月就业人数大幅减少10.5万人，降幅明显超过此 前市场预期的减少2.5万人，全部源于政府部门就业的大幅下滑。 同日，标普全球公布的数据显示，美国12月标普全球综合PMI初值为53，预期53.9，前值54.2。美国12月标普全球制造业PMI初值51.8，为五个 月低点，预期52.1，前值52.2。美国12月标普全球服务业PMI初值52.9，为六个月低点，预期54，前值54.1。（华尔街见闻） ｜点评｜ 美国11月非农就业人口略有增加，主要来自于医疗、建筑业等少数行业内，私企招聘需求缓慢修复。美国12月制造业与服务业景气度 均有所下行，消费者支出更加谨慎，招聘需求很难持续扩张。由于美国政府10月停摆，正常的数据收集被迫中断，导致10月、11月两个月的数 据与实际情况之间的误差被扩大，可能导致失业率数据略有偏高。 总体上看，年末美国就业市场的情况相比年初有所降温，但现阶段很难判断是否 ...

段，观察一些关键指标来判断AI盈利拐点何时、在哪里出现，将变得非常重要，比如自由现金流。资 产负债表可以伪造，但自由现金流无法造假。" 12月17日，美股三大股指全线收跌，道指跌0.47%，标普500指数跌1.16%，纳指跌1.81%。市场焦点集 中在科技巨头的抛售潮上，尤其是与人工智能（AI）相关的公司，甲骨文、英伟达、博通等明星科技 股领跌大盘，市场对AI投资回报可持续性的担忧正在蔓延。 | 美股指数 14 | | | | --- | --- | --- | | 道琼斯 | 纳斯达克 | 标普500 | | 47885.97 | 22693.32 | 6721.43 | | -228.29 -0.47% -418.14 -1.81% | | -78.83 -1.16% | | 中国金龙 | 纳指100期货 | 标普500期货 | | 7501.36 | 24965.75 | 6789.00 | | -54.97 -0.73% | +67.00 +0.27% +10.50 +0.15% | | 甲骨文成为市场焦点，股价大跌5.4%。据报道，该公司最大的数据中心合作伙伴蓝猫头鹰资本（Blue Owl Capi ...

在行情短线切换剧烈的背景下，部分基金的 减仓 或调仓的动作随之显现，部分产品在震荡市中波动有限， 不难推测有的基金经理"见好就收"， 减仓 保存年内收益，也有基金经理旗下产品与三季度重仓风格背道而 驰，或调仓布局跨年行情。 对于后市行情，基金经理多数保有乐观展望。有基金经理表示，估值偏高后的调整对市场是健康的，为后续行 情"跌出"新的操作空间，此外还有不少高位股通过震荡夯实了基础，也会考虑重新买入。 部分基金疑似 减仓 保收益 以广发鑫益为例，12月16日，A股各大指数大幅回调，然而该基金跌幅仅0.22%。拉长时间来看，这只产品在 相当长的时间里净值表现非常平稳，自从10月27日创下历史新高后至今回撤幅度仅有2.57%，与三季报中的持 仓数据并不契合。数据显示，截至三季度末，该基金股票仓位超过了九成，且重仓股中包括了立讯精密、兆易 创新、天孚通信、中际旭创等高弹性个股，此外，基金经理费逸管理的广发聚瑞、广发瑞安精选等与广发鑫益 均有类似走势。 此外，益民基金旗下多只权益类产品在10月末至今波动均不如此前明显，个别产品近期净值甚至拉成了一条直 线。如益民服务领先的基金经理关旭就在三季报中表示："从市场情绪来看， ...

Market Overview - On December 17, U.S. stock indices closed lower, with the Dow Jones down 0.47%, S&P 500 down 1.16%, and Nasdaq down 1.81% [1] - Major technology stocks experienced significant declines, with Oracle dropping over 5%, Tesla down over 4%, and Nvidia falling nearly 4%, resulting in a total market value loss of $164.8 billion (approximately 1160.8 billion RMB) [2] Sector Performance - The Philadelphia Semiconductor Index fell by 3.78%, with notable declines in stocks such as ASML, ARM, and AMD, each dropping over 5%, while Broadcom fell over 4% and TSMC and Intel dropped more than 3% [2] - The Nasdaq Golden Dragon China Index decreased by 0.73%, with individual stocks like Huya down over 4% and several others, including NIO and Li Auto, down over 3% [3] Commodity Market - WTI crude oil prices surged, with an increase of over 3% during the day, closing up more than 2.9% due to geopolitical concerns following U.S. President Trump's order to block all sanctioned oil tankers from entering Venezuela [4] - Silver reached a new historical high at $66 per ounce, while gold was reported at $4338 per ounce [4] Cryptocurrency Market - The cryptocurrency market saw a collective decline, with Bitcoin dropping to $86104 per coin, reflecting a decrease of 1.87% [5] - Over the past 24 hours, more than 154,000 traders experienced liquidation, totaling $526 million in losses [5] Federal Reserve Outlook - According to CME's FedWatch Tool, the probability of a 25 basis point rate cut by the Federal Reserve in January is 24.4%, while the probability of maintaining the current rate is 75.6% [5]

格隆汇12月18日｜一份监管文件周三显示，英伟达董事会成员哈维-琼斯（Harvey Jones）出售了价值超 过4400万美元的公司股票。文件显示，琼斯自1993年以来一直担任这家芯片制造商的董事，他于12月15 日以每股177.33美元的平均价格出售了25万股股票。 ...