September 17, 2025 02:00 PM GMT Internet | North America Where Are We Trading Now: Through Conf Season...EPS Previews Ahead North America Industry View Attractive M Comp Sheet Exhibit 1: Internet Comp Sheet: North America Internet names rose +1% last week (SPX/NDX +2%/+2%) with AMZN/GOOGL/META -2%/+2%/flat. PINS -8% and LYFT +12% (conference moves), CHWY -18% (post-EPS), TTD -13% (AMZN/ NFLX partnership), and APP +19% (S&P inclusion). AMZN/ GOOGL/META 29X/23X/23X '26 EPS (-6%/+25%/-1% vs TTM avg). | M Septe ...

各大平台的"罗伯特们"，都在想方设法填补用户在流量时代渴望被看见的期望。 无论是真实的孤独，还是被流量催生出的数据焦虑，"罗伯特们"都会在日复一日的网络巡查中，像一个值得信赖的知心老友，将这些负面的情 绪好好抚平。 但正如刘震云在《一句顶一万句》中的那句："一个人的孤独不是孤独，一个人找另一个人，一句话找另一句话，才是真正的孤独。"也许热闹 结束后，只有互动机器人留言的评论区将会显得更加萧瑟。那一份被机器人看见的舒心，在时间的积累中或许将转化为被真实人类忽略的失 落。 互联网时代，一日不"吵嘴"，仿佛就一日有愧于键盘的发明者。 这不，评论区又"吵"起来了。8月31日，脱口秀演员高寒更新了一则微博——"我这人有一个毛病——无病呻吟。"遗憾的是，这条微博的悖论包袱并不被 部分网友买账，评论区一度冷场，表示get不到这种冷幽默。 但一位"高人"的出现，迅速扭转了局势： ——"我也是，咱俩可以一起呻吟。" ——"不是你有病吧。"高寒的回复无助又无语。 （图/社交媒体截图） 寥寥两句话的互动无异于一场线上脱口秀，被切片搬运到各大平台，笑得网友直呼"天降段子"。 （图/社交媒体截图） 来者何人？不是别人，而是微博平台推出 ...

Group 1: Company Performance and Analyst Ratings - Alphabet Inc. has been identified as a key AI stock, with TD Cowen raising its price target from $240 to $270 while maintaining a Buy rating [1] - The 2025 GenAI Public Cloud Survey indicates that Google Cloud Platform (GCP) is the second choice for companies considering additional cloud providers [1] Group 2: Market Position and Competition - GCP has shown solid performance but still trails behind market leaders Amazon Web Services (AWS) and Microsoft Azure, with GCP awareness at 80% compared to 94% for AWS and 93% for Azure [2] - In the Enterprise group, GCP awareness is stronger at 88%, while other business groups range from 70% to 80% [2] Group 3: Generative AI Landscape - Google's Gemini ranks as the second most popular generative AI large language model (LLM) provider, with 54% of respondents using it, up from 50% in the previous year's survey [3] - OpenAI remains the top choice for LLM providers at 73%, although it has seen a decline from 82% in the prior year, suggesting a shift towards a broader range of LLM providers [3]

Group 1 - The Chinese internet regulator has directed its Beijing branch to impose disciplinary measures on Kuaishou Technology and Weibo [1]

Core Viewpoint - The Chinese internet regulatory authority has taken action against Weibo and Kuaishou for violating network ecological regulations by allowing harmful content related to celebrity gossip and trivial matters to dominate their trending topics [2][3]. Group 1: Weibo - The Weibo platform has been penalized for failing to fulfill its responsibility in managing content, leading to the promotion of harmful information on its trending list [2]. - The regulatory measures include a formal meeting, a deadline for correction, warnings, and strict penalties for responsible individuals [2]. - The aim is to maintain a clean and healthy online environment that aligns with public interests [2]. Group 2: Kuaishou - Kuaishou has also been cited for not adhering to content management responsibilities, resulting in a similar proliferation of celebrity-related trivial content on its trending topics [3]. - The same regulatory actions have been applied to Kuaishou, including meetings, deadlines for correction, warnings, and strict penalties for responsible parties [3]. - The regulatory authority emphasizes the importance of platforms fulfilling their social responsibilities to ensure a clear online space [3].

Core Insights - Google is terminating its enterprise subscription to the Financial Times as part of broader cost-reduction efforts, despite reporting strong financial performance [1][2] - The company has been implementing significant cost cuts, including reducing the number of managers and offering voluntary exit programs across various divisions [2] - Google is facing strained relationships with news publishers, with referral traffic from Google Search to publishers declining by 10% from May to June 2025 [3] Cost Reduction Measures - Google is eliminating 35% of managers overseeing small teams and has initiated voluntary exit programs since January 2025 [2] - The finance chief indicated that cost-cutting measures would continue, even after reporting $96.4 billion in revenue for Q2 2025 [2] Impact on News Publishers - Major news outlets like CNN, Business Insider, and HuffPost have experienced traffic declines of 30% to 40% [4] - Publishers attribute these declines to Google's AI Overviews feature, which has reduced click-through rates to external websites from 56% to 69% since its launch [5] - A significant portion of users (60%) conducted Google searches that produced AI-generated summaries, contributing to the decline in traffic to external sites [5] Industry Reactions - The CEO of People Inc. criticized Google as a "bad actor," accusing it of using the same bot for both search engine crawling and AI features [6] - An op-ed by Digital Content Next's CEO described Google's AI overviews as creating a "zero-click" environment, where traffic does not lead to external sites [8]

Dan Niles, founder and portfolio manager at Niles Investment Management, says investors should look beyond the "Mag 7." He tells Romaine Bostick and Katie Greifeld on "The Close" that AI's engagement with Google is rising, and calls Google the long-term winner in consumer AI given its unmatched data advantage. ...

Core Viewpoint - Meta Platforms Inc. has applied to sell electricity in wholesale markets, indicating a strategic move to address increasing power demands driven by advanced AI development [1][2] Group 1: Company Actions - Meta submitted an application to the Federal Energy Regulatory Commission to obtain authorization for selling energy, capacity, and ancillary services [1] - The application was filed through a subsidiary, Atem Energy LLC, which is designated to act as a power marketer in the US [2] Group 2: Industry Context - Major technology companies, including Meta, Microsoft, and Alphabet's Google, are facing urgent challenges in securing electricity as they develop resource-intensive AI systems [1] - Projections from BloombergNEF suggest that power demand from data centers for AI model development is expected to quadruple over the next decade [1]

Core Viewpoint - Concerns regarding AI-related threats to Alphabet Inc.'s search business are considered overstated, with strong cash flow generation expected to continue [1][2]. Group 1: Company Performance - Alphabet Inc. has shown impressive earnings, with user visits to its search engine increasing fourfold over the past year [1]. - The company is successfully executing its AI potential, leveraging industry-leading models and a full-stack technical infrastructure [4]. Group 2: Competitive Position - Alphabet Inc. maintains a competitive edge as users find it easier to switch to its AI-powered Gemini rather than adopting entirely new search models [2]. - The company is well-positioned to integrate ads into AI search results, ensuring that its core advertising business remains unaffected despite a decline in traditional search [3]. Group 3: Market Sentiment - Analysts believe that the fears surrounding the "death of search" are unfounded, as the company's infrastructure and user engagement remain robust [1][2]. - OpenAI's recent GPT-5 model did not meet market expectations, while Alphabet's Gemini is gaining traction with new features [3].

Group 1 - The "Hui Chain" industrial internet service platform developed by Wuxi Guolian Metal Materials Market Co., Ltd. aims to create a collaborative ecosystem for upstream and downstream enterprises in the steel industry, leveraging advancements in computer technology and the rise of the Internet of Things [1][2] - The platform integrates cutting-edge technologies such as blockchain, big data, and artificial intelligence to address pain points in the steel industry, providing a comprehensive service system that includes smart management, transactions, logistics, information, and financing [2] - The platform currently serves over 9,000 enterprises in the steel supply chain, including major producers like Baowu and Shagang, and aims to become a highly influential industrial internet service platform in the Yangtze River Delta and nationwide, with projected sales of 102.4 billion yuan by 2028 [2] Group 2 - The AI application research and development center at the company has developed a smart review cloud platform that utilizes a large database accumulated over 10 years, employing technologies such as image recognition, facial recognition, and machine learning to ensure content safety and promote a healthy online environment [3] - The platform processes millions of graphic data and nearly 30,000 hours of video annually, implementing a dual purification mechanism to effectively filter out harmful content such as spam and illegal information [3]