"风险显然已经上升，"资产管理规模达1300亿美元的Advisors Capital Management合伙人兼投资组合经 理JoAnne Feeney评论道。 随着2026年的开启，全球市值最高的公司在股市中的根基正显露出动摇迹象。 智通财经APP获悉，自10月29日创下历史新高以来，英伟达(NVDA.US)股价已累计下跌9.1%，表现远逊 于标普500指数。这反映出投资者日益担忧人工智能(AI)支出的可持续性，以及这家芯片巨头的市场主 导地位。 近期的下跌尤为引人注目。回顾收盘价刷新历史纪录当日，英伟达股价较2022年底涨幅已超过1300%， 公司市值突破5万亿美元，较不到三年前的约4000亿美元大幅跃升。然而如今，短短数月内其市值已蒸 发4600亿美元，致使三年累计涨幅收窄至近1200%。 与此同时，这家占据主导地位的AI芯片制造商正面临前所未有的激烈竞争，对手不仅包括 AMD(AMD.US)等同行，甚至还有其最大的客户——如谷歌(GOOGL.US)和亚马逊(AMZN.US)等。更令 华尔街忧心的是，英伟达对多家客户的投资行为，可能被解读为通过人为手段提振需求。 如果英伟达继续延续这一颓势，将对大多数 ...

作为科技界的"春晚"，CES2026如约而至。 美西时间1月6日，国际消费类电子产品展览会将正式开展，并持续到1月9日。作为全球科技产品发展的 风向标，CES以汇集当下最新的创新技术闻名，也是预测未来的窗口。 而今年这场科技盛宴之所以热度非凡，还在于AI时代中美科技顶流的强强相遇。 虽然苹果继续缺席，但英伟达、AMD、联想、海信、TCL等主流焦点公司将登台，中美科技企业也借 此展开新一轮AI对话和切磋。 芯片是老角色，但从不缺新故事。2026年更是如此，当AI应用从纸上谈兵走向商业实战，芯片的能效 比与AI算力直接决定了用户体验。 芯片的跨越式成长，不仅是流畅运行更复杂的本地大模型，将用户的隐私与效率推向新高度。英伟达、 英特尔、AMD、高通的激烈角逐，各家芯片制程工艺的代际跨越，也是技术路线的选择，更是对未来 计算架构的押注。 具身智能则是新看点，又以中国机器人军团的集中亮相成为焦点。大量人形机器人企业首秀，让中国企 业的参展格局正在发生结构性变化。除了联想、海信、TCL、京东方等传统巨头，更具爆发力的具身智 能成为证明"中国创新"硬实力的新坐标。 当AI拥有实体，也预示着一场去伪存真的残酷大考。哪些是提升 ...

Core Insights - The CES 2026 event in Las Vegas highlighted the dominance of AI-driven autonomous driving technology, with investors betting on AI revitalizing the traditional manufacturing sector, which has been hindered by slow technological progress and high costs [1][2] - Traditional automakers are pausing their electric vehicle (EV) transformation plans due to intense competition and reduced government subsidies, while suppliers and tech startups are showcasing their latest autonomous driving solutions [1][3] - Nvidia's CEO Jensen Huang announced the Alpamayo family of open-source AI models for autonomous driving, which aims to challenge Tesla's Full Self-Driving (FSD) system [4][5][6] Industry Trends - The automotive industry is increasingly focusing on physical AI and autonomous driving, with expectations that AI will be integrated into a wide range of everyday products beyond just vehicles [2] - The CES has evolved into a key platform for chip giants like Nvidia and AMD to unveil high-performance AI infrastructure for enterprise applications, alongside traditional consumer electronics [3] - Many traditional automakers are shifting their focus from launching new EVs to developing fully autonomous vehicles, reflecting a significant strategic change in the industry [3][4] Technological Developments - Nvidia's Alpamayo model, described as the "ChatGPT moment for physical AI," features 10 billion parameters and utilizes a novel "chain AI reasoning" approach to enhance decision-making in autonomous driving [5][6] - The introduction of the Alpamayo family aims to create a complete development ecosystem that includes models, simulation tools, and datasets to improve the safety and verifiability of autonomous driving technology [6][7] - Companies are also enhancing driver assistance systems, with some aiming for "hands-free" driving capabilities on highways and urban roads, similar to Tesla's FSD [7] Cost and Competitive Pressures - Traditional automakers, particularly Ford and General Motors, are becoming more strategic in their capital investments due to significant write-downs from changes in EV strategies and increased competition from Asian manufacturers [8] - The impact of higher tariffs imposed by the Trump administration on automotive imports is leading many U.S. manufacturers to absorb costs rather than pass them on to consumers, increasing pressure on profit margins [8] - Cost competitiveness is expected to be a central theme of discussion at CES, as automakers and investors focus on managing expenses amid rising competition [8]

证券日报网讯 1月6日，昂瑞微在互动平台回答投资者提问时表示，公司系列产品已形成丰富的应用方 案矩阵，目前已涵盖智能手表、智能戒指、智能眼镜、智能头盔等多款智能穿戴终端产品，相关产品已 实现量产或陆续进入导入阶段。昂瑞微将持续深耕技术创新，充分发挥技术优势，为全球客户提供高性 能、低功耗的芯片产品与技术解决方案。 （文章来源：证券日报） ...

Group 1 - The core viewpoint of the news highlights a significant rise in technology-related stocks, particularly in commercial aerospace, brain-computer interface concepts, photovoltaic, chips, and semiconductor sectors, with the STAR Market indices showing positive performance [1] - The STAR 50 Index increased by 1.8%, while the STAR 100 Index and STAR Composite Index both rose by 1.5%, and the STAR Growth Index saw a 0.7% increase [1] - According to Wind data, the E Fund STAR 50 ETF (588080) experienced a net inflow of nearly 300 million yuan over two consecutive trading days [1] Group 2 - China Galaxy Securities anticipates that the reform policy expectations will strengthen in the first year of the 14th Five-Year Plan, with factors such as the upward trend of the RMB exchange rate supporting liquidity and boosting market confidence [1] - The report emphasizes the importance of focusing on technology leaders with performance realization capabilities under the logic of profit recovery [1]

格隆汇1月6日｜作为全球市值最高的公司，英伟达(NVDA.US)在2026年伊始的股市表现并不稳健。自 10月29日创下历史新高以来，英伟达股价已下跌9.1%，表现远逊于标普500指数，原因是投资者对人工 智能支出的可持续性以及这家芯片巨头对市场的掌控力感到日益担忧。管理着 130 亿美元资产的 Advisors Capital Management合伙人兼投资组合经理JoAnne Feeney表示："风险显然已经上升。"英伟达 的低迷将波及大多数股票投资者。尽管如此，对英伟达股票的需求依然强劲，尽管盈利预期极高，但其 估值仍低于许多大型科技同行。这家总部位于加州圣克拉拉的公司预计在截至2027年1月的下一财年， 销售额增长53%，利润增长57%。相比之下，苹果这两项指标的增长预期均在10%左右。华尔街也并未 放弃英伟达，在追踪该公司的82位分析师中，有76位给予"买入"评级，仅有一位建议卖出。华尔街平均 目标价意味着未来12个月有37%的上涨空间，这将使其市值突破6万亿美元。 ...

英伟达表示，其H200芯片在中国的需求强劲，但该公司仍在等待华盛顿和北京的批准，才能开始 销售。 英伟达首席财务官科莱特·克雷斯周一下午在拉斯维加斯举行的问答环节中告诉分析师："我们确实 有需求……（对 H200 的需求）来自中国。"当被问及中国市场时，首席执行官黄仁勋补充说："需 求强劲。" 克雷斯在 CES 2026 科技产业展的间隙表示，在唐纳德·特朗普总统 12 月表示美国政府将允许英 伟达向中国出售其 Hopper 200 芯片，以换取 25% 的销售额之后，该公司已向华盛顿提交了出口 许可证申请。 在前总统乔·拜登的政府收紧对人工智能芯片出口的限制后，H100 和 H200 都于 2024 年被禁止在 中国销售。 如果您希望可以时常见面，欢迎标星收藏哦~ 但在华盛顿方面能够推进收益分成协议之前，中国政府于9月份指控英伟达违反了中国的反垄断 法。黄仁勋表示，该公司在中国的市场份额已从95%暴跌至零。 克雷斯表示，美国政府正在研究"如何处理这些不同的许可证"，并且"所有不同政府之间的团结一 致"是开始发货的必要条件。 但英伟达能否向中国出口 H200s，还要取决于北京是否允许其在世界第二大人工智能市场 ...

Group 1: Market Performance - Asian stock markets have achieved the best start to a year in history, with the MSCI Asia Pacific Index rising approximately 4% since the beginning of 2026, marking the strongest performance since records began in 1988 [1] - The Korean stock market, particularly the Kospi index, has surged by 8% at the start of 2026, breaking the 4500-point mark, driven by major stocks like SK Hynix and Samsung Electronics [2][3] - The Shanghai Composite Index has recorded a 2.8% increase since the beginning of 2026, achieving a 13-day winning streak, the longest in history [6] Group 2: Key Drivers - The strong performance of Asian markets is attributed to attractive valuations and the central role of the region in the global AI computing industry [2] - The "super cycle" in the storage chip industry is expected to continue until at least 2027, with significant growth in earnings driven by major players like Samsung and SK Hynix [3] - The demand for AI-related infrastructure, particularly from companies like TSMC, is fueling growth in the semiconductor sector, contributing to the overall market strength [5] Group 3: Analyst Insights - Analysts from major firms like Citigroup and JPMorgan predict that the Korean stock index could rise by at least 20% in the coming year, supported by government stimulus and strong earnings growth [3] - The valuation of core technology companies in the AI computing supply chain in Asia is still considered very attractive compared to global peers, indicating further upside potential [6]

Core Insights - Asian stock markets are experiencing their best start to a year in history, with the MSCI Asia Pacific Index rising approximately 4% since the beginning of 2026, driven by investor interest in AI-related investment opportunities [1][4] - The Korean stock market, particularly the Kospi index, has surged by 8% at the start of 2026, breaking the 4500-point mark, largely due to the performance of major companies like SK Hynix and Samsung Electronics [3][5] - Analysts predict that the Korean stock market has further upside potential, with expectations of at least a 20% increase in the benchmark index over the next year, supported by government stimulus and a strong earnings growth trend in the storage chip sector [3][4] Group 1: Market Performance - The MSCI Asia Pacific Index is on track for its strongest year-to-date performance since 1988, with significant contributions from the Korean and Taiwanese markets [1][3] - The Taiwanese Taiex index has also risen by 5.6% since the beginning of 2026, with TSMC's stock price reaching a new historical high after a 6.9% increase [5][6] - The A-share market in China has shown strong performance, with the Shanghai Composite Index achieving a new high not seen since July 2015, reflecting a 2.8% increase in 2026 [6][7] Group 2: Sector Insights - The storage chip industry is entering a "super cycle" expected to last until at least 2027, with significant price increases anticipated for major players like SK Hynix and Samsung Electronics [4][6] - TSMC, as the largest contract chip manufacturer globally, is benefiting from the surge in demand for AI chips, which has led to strong earnings growth and stock price increases [6][7] - The optimism surrounding AI applications and the "domestic substitution" trend in China is driving the performance of AI-related companies in the A-share market [6][7] Group 3: Investment Sentiment - Investors are increasingly attracted to Asian stock markets as valuations of major US tech companies reach historical highs, with a shift in global capital flows towards Asian tech stocks [4][6] - The valuation of core technology companies in the AI supply chain in Asia remains relatively low compared to their global counterparts, indicating potential for growth [7]

2026年1月2日，壁仞科技(06082.HK)正式登陆港交所，成为"港股GPU第一股"，开盘一度涨超110%。 随着壁仞科技的挂牌，加上此前已登陆科创板的摩尔线程(688795.SH)、沐曦股份(688802.SH)，以及已 完成IPO辅导、即将申报科创板上市的燧原科技，国产GPU"四小龙"齐聚资本市场的格局即将正式成 型。 "四小龙"即将齐聚 国产GPU"四小龙"的上市进程呈现出"A股+港股"双市场布局的鲜明特征。2025年12月5日，摩尔线程率 先登陆科创板，上市首日盘中最大涨幅超过500%，市值一度突破4400亿元；12月17日，沐曦股份紧随 其后登陆科创板，盘中最高涨幅超700%，单签盈利最高逼近40万元，刷新近十年A股上市首日单签盈 利纪录。 港股市场方面，壁仞科技于2026年1月2日挂牌，发行价19.6港元/股，开盘报35.7港元/股，涨幅达 82.14%，截至当日收盘，报34.46港元/股，总市值826亿港元；A股市场的收官之作则聚焦燧原科技，据 证监会官网公示，该公司已于2026年元旦完成IPO辅导工作，即将正式申报科创板上市，标志着其上市 进程进入实质性阶段。作为专注人工智能云端算力产品的 ...