Group 1 - The core message highlights the ongoing discussions in the market regarding AI investments, with a significant new funding round expected to raise over $100 billion, pushing the overall valuation of leading AI companies to exceed $850 billion, which is higher than previous expectations [1] - Major participants in this funding round include industry giants like Amazon, SoftBank, and Nvidia, indicating strong institutional interest in the AI sector [1] - The article questions whether investors are truly investing in the future or are being constrained by past valuation metrics, suggesting a need for a shift in perspective [1] Group 2 - The article discusses the misconception that low valuation equates to safety in investments, illustrated by an example of an investor who focused on low P/E ratios but faced losses as the stock continued to decline [2] - It emphasizes that relying solely on valuation metrics can lead to poor investment decisions, as these metrics reflect past performance rather than future potential [2][6] - The importance of institutional participation in determining stock prices is highlighted, indicating that market dynamics are influenced more by large institutional investors than by individual perceptions of value [6][7] Group 3 - The article introduces the concept of "institutional inventory" data as a tool to assess the active participation of institutional investors in the market, which can provide insights into stock performance beyond traditional valuation metrics [7][10] - It explains that a stock's price movement is often driven by the level of institutional engagement, rather than static valuation figures, challenging the notion that high valuations inherently carry risk [10][11] - The contrast between a low valuation stock that continues to decline and a high valuation stock that rises is attributed to differing levels of institutional interest, underscoring the need to focus on current market dynamics rather than historical data [11][18] Group 4 - The article concludes that understanding market behavior requires a shift from subjective feelings to objective data analysis, particularly through the use of quantitative data tools [19] - It stresses that the true value of investments lies in their ability to attract institutional participation, rather than merely being labeled as "cheap" based on valuation metrics [18][19] - The narrative encourages a more rational approach to investing, advocating for data-driven decision-making to navigate the complexities of the market effectively [19]

Market Overview - The Hong Kong stock market experienced a significant divergence on the first trading day of the Lunar New Year, with the Hang Seng Index declining by 1.1% and the Hang Seng Tech Index dropping by 2.91%, reaching a new low of nearly 5200 points [1][3] - Internet technology stocks, once highly sought after, became the main contributors to the market decline, with notable drops including Baidu down over 6%, Bilibili down over 5%, Alibaba down nearly 5%, and Tencent down over 2% [3] AI and Robotics Sector - In stark contrast to the decline in internet giants, the domestic AI model sector saw a significant surge, particularly with the "domestic AI dual champions" Zhiyuan and MiniMax, with Zhiyuan's stock price soaring by 42.72% to 725 HKD per share, marking a cumulative increase of over 220% since February [3][5] - The recent launch of Zhiyuan's flagship model GLM-5, which boasts over a 20% performance improvement in programming development scenarios, has garnered strong market interest [5] - The robotics sector also experienced a notable rise, with leading collaborative robot company Yujian increasing by 21.40% and other companies like Sutonju and Ubtech showing impressive gains [7] Market Trends and Insights - The market is witnessing a shift in investment focus from internet platforms, which primarily relied on model innovation, to hard technology sectors driven by technological innovation [7][9] - Analysts from Dongwu Securities highlighted that advancements in core robotic capabilities have been crucial for the sector's recent popularity, with expectations for significant growth as major companies like Tesla and domestic leaders begin large-scale production [7] - According to招商证券, the AI application field is experiencing simultaneous deepening of technological breakthroughs and commercialization competition, supported by the national strategy for artificial intelligence, indicating promising upward potential despite slightly high valuations [9]

AIDriven OneonOne Matchmaking to Enhance Supplier-Buyer Connections at One of the Largest SBA Procurement Events in the Northeast Nextech3D.ai's Eventdex Platform Selected to Provide AI Matchmaking for the SBA's CT Business Matchmaker Event AIDriven Supplier-Buyer Matching to Support One of the Largest SBA Procurement Events in the Northeast TORONTO, ON / ACCESS Newswire / February 20, 2026 / Nextech3D.ai (OTCQB:NEXCF)(CSE:NTAR)(FSE:EP2) announces that its AI Eventdex platform has been selected to provide A ...

GIBO Announces Breakthrough in Proprietary AIGC Engine, Entering Next-Generation Intelligent Content Infrastructure Phase [Accessibility Statement] Skip NavigationKUALA LUMPUR, Malaysia, Feb. 20, 2026 /PRNewswire/ -- GIBO Holdings Ltd. (NASDAQ: GIBO) today announced a significant technological breakthrough in its proprietary AIGC (AI-Generated Content) multimodal engine, marking the transition into a next-generation intelligent content production architecture. The upgrade delivers structural improvements in ...

Core Insights - Bitcoin (BTC-USD) has experienced a significant decline, losing nearly 25% of its value since the beginning of the year and down 46% from its peak [1] Group 1: Analyst Background - The analyst, Uttam, specializes in growth-oriented investment analysis, focusing on the technology sector, including semiconductors, artificial intelligence, and cloud software [1] - Uttam has prior experience in Silicon Valley, leading teams at major technology firms such as Apple and Google [1] - He co-authors The Pragmatic Optimist Newsletter, which is frequently cited by prominent publications like the Wall Street Journal and Forbes [1]

Core Insights - Azio AI Corporation has received its first purchase order from Envirotech Vehicles, Inc. for twenty-eight next-generation ASIC compute systems as part of an infrastructure validation initiative [1] - The collaboration aims to validate high-density power utilization, immersion cooling efficiency, uptime resilience, and compute economics under continuous-load conditions [1] Group 1: Strategic Deployment - Azio AI expects to begin delivery of the ASIC systems in the coming weeks, which will be deployed within EVTV's liquid-immersion-cooled modular container infrastructure platform [1] - The deployment will involve Azio AI's engineering team, including personnel with prior experience at NVIDIA, to support deployment, validation, and operational streamlining [1] - EVTV will own the ASIC compute systems while maintaining lease rights to the containerized power infrastructure [1] Group 2: Validation Phase - The initial ASIC deployment is structured to support specialized SHA-256 compute workloads, generating Bitcoin yields while establishing operational benchmarks for scalable multi-megawatt expansion [1] - The systems are expected to validate sustained high-density power utilization and immersion cooling efficiency [1]

Core Insights - Zhipu AI's stock price surged by 42.72% to 725 HKD, reaching a market capitalization of over 323.2 billion HKD, surpassing major domestic internet companies like Kuaishou and JD.com [1] - The company launched its flagship model GLM-5, featuring 744 billion parameters and significant advancements in technology, which has garnered substantial market interest and demand [2] Company Performance - Zhipu AI's revenue grew by over 300% year-on-year in 2025, with more than 20,000 enterprise clients across various sectors, and a high customer repurchase rate exceeding 80% [2] - The company has faced supply-demand challenges due to the overwhelming demand for GLM-5, leading to service delays and a need for expansion in computing power [3] Market Position - Zhipu AI's GLM-5 model ranks first among open-source models in key programming and reasoning benchmarks, closely competing with top closed-source models [2] - The Chinese large model market is projected to grow over 220% year-on-year by 2025, with a compound annual growth rate of over 150% from 2023 to 2027, indicating a favorable environment for Zhipu AI [3] Industry Trends - The AI industry is experiencing a high growth cycle, with increasing policy support from the government for AI development, which provides a stable environment for long-term growth [3] - Major brokerage firms express bullish views on Zhipu AI, highlighting its leading technology and commercial execution capabilities in the AI sector [4]

新浪科技讯 2月20日晚间消息，马年港股开市首日，大模型公司智谱股价大幅度上涨，收报725港元/股，上涨 42.72%，市值突破3232亿港元。 值得注意的是，今年1月29日，在由新浪财经、第一财经联合主办的"为中国经济点赞——企业家之夜"活动上，智谱作 为国内AI大模型企业代表，其公司董事长刘德兵出席并 获选2025十大年度经济人物。 当晚，刘德兵发表荣誉感言时表示，让机器像人一样思考，是智谱团队创立第一天起就选择的方向，是智谱人持之以 恒的愿景目标。 "智谱的Z是字母表中的最后一个字，代表了终极境地。我们希望在AGI的探索历程上能够走到智能的终极境地，感谢 团队的专业耐心和长期主义。"他说。 彼时，智谱1月29日收盘股价为227港元/股，公司市值刚突破1000亿元不久。距离大会结束仅22日（含春节假期），智 谱股价已经上涨超498港元/股，上涨超3.19倍，公司市值也已突破3232亿港元。 这一段时间内，哪些关键节点及标志性事件使得资本市场对于智谱的信心进一步急剧提升？ 消息面上，进入2月，全球模型服务平台OpenRouter上线搜索排名第一的神秘匿名模型"Pony Alpha"，因其强大的编码 能力及针 ...

Tata Group and ChatGPT developer OpenAI have established a foundational partnership aimed at advancing AI development in India and internationally. Under the agreement, Tata Group’s subsidiary Tata Consultancy Services (TCS) will work closely with OpenAI to deliver AI solutions for businesses and consumers, as well as to expand AI adoption across various industries worldwide. OpenAI CEO Sam Altman said: “India is already leading the way in AI adoption, and with its talent, ambition, and strong governmen ...

South Korea selected a team led by AI startup Motif Technologies to compete in a flagship tournament aimed at developing homegrown talent https://t.co/LM5wbQSuwl ...