假设最高发售价为每股H股104.80港元及超额配售权未获行使，估计公司将从全球发售收到所得款项净 额约46.932亿港元。其中，所得款项净额的约70%将在未来五至十年用于投资关键技术的研发，保证公 司在先进传感技术、先进显示技术及模拟解决方案的持续领先地位。公司计划通过投资基础研究来进一 步加强公司的研发，以加强公司的知识产权及技术优势，同时扩展公司的产品组合，以提高市场渗透； 约10%将在未来五至十年用于强化全球市场渗透及业务扩张。公司计划深化目标市场布局、扩大客户群 并提升公司在所有参与领域的市场份额。公司计划在全球招聘和挽留销售人员、营销人员和FAE；约 10%将用于战略投资及╱或收购，重点聚焦能与公司现有产品组合产生协同效应及支持向新兴领域横向 拓展的投资和收购机遇；约10%将用于营运资金及一般公司用途。 公司已订立基石投资协议，据此，基石投资者已同意在若干条件的规限下按发售价认购或促使其指定实 体认购总金额约2.794亿美元(或约21.736亿港元)可购买的发售股份数目。按发售价每股发售股份104.80 港元计算，基石投资者将予认购的发售股份总数将为2074.02万股。基石投资者包括Wildlife ...

Core Viewpoint - NVIDIA Corp. is in advanced discussions to acquire AI21 Labs for an estimated $2 billion to $3 billion, primarily to enhance its talent pool amid competition from Google's chip development efforts [1][2]. Group 1: Acquisition Details - The acquisition is aimed at gaining AI21 Labs' 200-person workforce, which possesses advanced degrees and specialized expertise in machine learning [3]. - AI21 Labs has shifted its business focus from consumer tools to enterprise solutions, with its flagship product, Maestro, aiming to improve model accuracy by 50% [4]. Group 2: Financial Context - AI21 Labs generates approximately $50 million in annual revenue, which is significantly lower than the billions earned by competitors like OpenAI [4]. Group 3: Strategic Expansion - If the deal is finalized, it would mark NVIDIA's fourth major acquisition in Israel, a region the company considers a "second home" [5]. - NVIDIA's CEO has announced plans to build a large campus in Kiryat Tivon, potentially accommodating 10,000 employees by 2031 [5]. Group 4: Recent Acquisitions - This potential acquisition follows NVIDIA's recent $20 billion deal with Groq, which also involved a significant transfer of high-level talent, including Groq's founder and key team members [6].

我们是一家全球化Fabless半导体设计公司，而CMOS图像传感器(CIS)是我们的主要产品。我们凭藉专 有技术、多样化的产品和解决方案组合、灵活的Fabless业务模式、广泛的客户网络和供应链生态系统而 闻名。 我们已与基石投资者Wildlife Willow Limited、UBS AM Singapore、FOL、华勤通讯香港有限公司(华勤 通讯)、天进贸易有限公司(天进)、Pudong Science and Technology (Cayman) Co., Ltd.(PST)、JSC International Investment Fund SPC、Ghisallo Fund Master Ltd(Ghisallo)、大家人寿及中邮理财有限责任公 司(中邮理财)订立基石投资协议，基石投资者已同意在若干条件的规限下按发售价认购或促使其指定实 体认购总金额约2.79亿美元可购买的发售股份数目。 我们相信，基石配售显示我们的基石投资者对本公司及其业务前景充满信心，且基石配售将有助提升本 公司的知名度。本公司于其日常运营过程中通过本集团的业务网络或通过本公司业务伙伴或全球发售中 整体协调人的介绍结识各基石 ...

Core Insights - The discussion highlights a preference for Microsoft over Google due to concerns about Google's ad revenue being impacted by AI advancements, particularly with the introduction of ChatGPT and Gemini 3 [2][4][10] - Microsoft is seen as having a stronger position in the AI cloud market, with Azure's growth at 35% in the last quarter, and its established products like Microsoft 365 and Windows are less likely to be disrupted by AI [5][6][12] - Google's reliance on traditional ad revenue through links is challenged by AI providing direct answers, which reduces user clicks and consequently revenue [7][9][10] Google - Google is facing challenges as AI technologies like ChatGPT and Gemini 3 may reduce user reliance on its search engine, with a noted decrease in click-through rates when AI answers are provided [3][9] - The company recognizes that providing AI answers cannibalizes its traditional revenue model based on clicks and links [8][10] - Despite these challenges, Google's search business is still growing in double digits, indicating some resilience [4] Microsoft - Microsoft is positioned as a leader in the AI cloud space, benefiting from Azure's significant growth and the integration of OpenAI technologies [5][13] - The company has a strong developer community engagement through platforms like HubSpot, which enhances its competitive edge in generative AI applications [13] - Microsoft's stock is viewed favorably due to its stable earnings potential and lower risk of disruption compared to Google [6][12] AI and Infrastructure - The ongoing AI revolution is expected to drive substantial investments in data center infrastructure over the next 5 to 10 years, with a focus on networking and semiconductor companies [15][16] - Companies like Nvidia are highlighted as key players in the AI platform space, while memory-related stocks like Micron and Lamb Research are expected to benefit from increased demand for DRAM memory due to growing AI model sizes [18]

在这片中国科技产业密度最高的区域之一，21世纪经济报道记者再次见到了云天励飞董事长陈宁。长达 1个半小时的深度交流中，陈宁侃侃而谈关于AI的一切。 五年前，记者对陈宁的专访，正值中国AI创业最为喧闹的阶段。新锐企业群雄并起，算法、场景与资 本交织，云天励飞也刚刚踏上上市之路。五年过去，陈宁依旧精神饱满，而云天励飞的坐标，已经从 AI解决方案，转向更底层，也更具长期价值的AI推理芯片赛道。 有观点认为，当下AI投入正在积聚泡沫。对此，陈宁有不同的看法："AI就像蒸汽机刚出现的时候。站 在一个村庄的视角，可能会觉得这是泡沫，但站在历史的角度看，这是一个时代的起点。AI一定会经 历泡沫和调整，但方向本身不会错。" 训练时代，英伟达当之无愧的王者，也是标准制定者。但在推理时代，陈宁认为，"所有人都站在同一 条新的起跑线上。谁能在成本、效率和系统能力上建立优势，谁就有机会。" 当前，推理已经进入到算力的中心舞台，毫无疑问，接下来AI赛场将构建起更加繁荣的推理芯片和应 用生态。在未来的硬件架构中，可能有更多异构组合，有专门用来做通用计算CPU，有专门做训练的 GPU、也有专门做推理的推理芯片。 深圳湾科技生态园中，AI弄 ...

Expense differences, sector breadth, and risk profiles set these two leading tech ETFs apart for investors seeking tailored exposure.The iShares Semiconductor ETF (SOXX 0.13%) and the Fidelity MSCI Information Technology Index ETF (FTEC 0.32%) differ most in sector focus, cost, and historical risk, giving each a distinct role for tech-focused investors.SOXX focuses on U.S. semiconductor stocks, while FTEC tracks a broader U.S. tech index that encompasses hardware, software, and communications. For those wei ...

// 热点头条 // 1. 长鑫科技：申请科创板IPO，拟发行不超过106.22亿股股票。上交所官网显示，长鑫科技集团股份有 限公司科创板IPO申请获受理，融资金额为295亿元。 2. Meta：正式宣布收购AI智能体公司Manus，收购金额或高达数十亿美元，为Meta成立以来第三大收 购。Manus专注构建通用型AI Agent，上线八个月后年度经常性收入突破1亿美元，此次收购将强化 Meta在人工智能领域的技术布局与生态构建。同时重磅发布开源AI软件工程师，实现万行代码理解， 下周将参展CES展。 3. 贵州茅台：i茅台官方宣布2026年将上线53度、500ml飞天茅台酒，投放量将基于防止炒作、供需适配 及市场稳定原则设定；同时辟谣网传"每日投放100吨"为不实信息，强调将通过技术手段提升购酒体验 并维护市场价格秩序。 4. 百度集团：无人车业务正式布局英国市场，同时自研AI芯片昆仑芯有望进入放量期。百度地图与无 人车独角兽新石器达成深度合作，将LD数据产品接入新石器无人物流平台，提供高精度地图服务，摩 根大通认为其正转型为AI基础设施供应商。 5. 台积电：宣布2nm半导体已于2025年第四季度按计划启 ...

Market Overview - All three major indices are in the red, with the Dow and Nasdaq down about one-tenth of a percent, while the S&P 500 remains mostly flat [1] - Over the past five days, the S&P 500 has seen a gain of about 0.4%, with expectations for a 1.3% gain to confirm a Santa Claus rally [1] - Commodities show mixed results, with gold reversing a selloff and silver experiencing its largest drop in five years before gaining momentum [1] Federal Reserve Insights - The Federal Reserve's December meeting minutes reveal a split among officials regarding rate cuts, with some favoring cuts due to job market concerns while others prefer to hold rates steady due to inflation worries [2][4] - Fed officials expect inflation to remain somewhat elevated in the near term, with concerns about tariffs potentially impacting consumer prices [3] - The job market is anticipated to stabilize, but uncertainty remains due to delays in official government data [4] Investment Strategies for 2026 - Optimism for 2026 is driven by anticipated stimulus, rate cuts, and strong profit momentum, suggesting a continued bull market [10][11] - Financials and consumer discretionary sectors are viewed as attractive due to expected economic stability and deal-making activity [21] - International investments are recommended as U.S. investors may have underweighted this area, with potential benefits from a weaker dollar and fiscal reforms in Europe and Japan [20] Oracle's Position - Oracle's stock has dropped approximately 30% this quarter, facing risks related to its partnership with OpenAI, which is reportedly losing around $12 billion a quarter [25][27] - Concerns about Oracle's earnings growth stem from nonrecurring items, with core operating income growing at a respectable 12-15% [29] - Oracle's credit spreads are widening due to increased capital expenditures, raising concerns about its financial health [31] AI and Technology Sector - The AI sector remains a focal point, with companies like Nvidia in advanced talks to acquire AI startup AI21 Labs for up to $3 billion [49] - The AI trade has slowed, but the overall market has held steady, indicating resilience beyond tech stocks [10] - Concerns about AI valuations being too high are prevalent, but the market is expected to continue benefiting from profit growth [15] Space Sector Developments - The space sector is evolving beyond launches to focus on data, connectivity, and infrastructure, with companies like Planet Labs leveraging AI for data analysis [39] - Global Star is enhancing connectivity through satellite technology, partnering with Apple for improved services [42] - Intuitive Machines is positioned for growth with upcoming projects related to lunar exploration and satellite manufacturing [45][47]

OmniVision Integrated Circuits Group, Inc. 豪威集成電路(集團)股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 股份代號 ： 0501 全球發售 聯席保薦人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 UBS CICC PASCHK GF Securities 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 Haitong International CITIC Securities 聯席牽頭經辦人 TMS OmniVision Integrated Circuits Group, Inc. 豪威集成電路 ( 集團 ) 股份有限公司 重要提示 如 閣下對本文件任何內容有任何疑問，應尋求獨立專業意見。 OmniVision Integrated Circuits Group, Inc. 豪威集成電路（集團）股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 本文件連同附錄七「送呈公司註冊處處長及展示文件」所述文件，已按照香港法例第32章《公司（清盤及雜項條 文）條例》第342C條的規定送呈香港公司註冊處處長登記。香港證券及期貨 ...

George Tillis is joining us now, senior markets correspondent to get us across this one. So, it's up, as I said, 52- week high, rallying about 10%. Uh, it's in the business of IC wafers as far as substrates, uh, gallium, geranium, things that were under an export ban coming out of China, but that's now being reversed.Talk us through the significance of this story, why the stock is rallying so much today. >> Yeah, I mean, it's up today. This is I think a remarkable story um in the context of what's happening ...