Core Viewpoint - ServiceNow is a key player in the cloud computing sector, focusing on digital workflows and enterprise solutions, and is recognized for its innovative platform that enhances business operations [1] Group 1: Company Performance - In 2025, ServiceNow faced a challenging year with a stock price decline of nearly 28%, despite efforts to strengthen its market position through a high-profile acquisition and significant platform updates [2][3] - The stock's current price is $125.40, reflecting a decrease of 1.91, or -1.50%, with a market capitalization of approximately $130.21 billion [4] - Over the past year, the stock has experienced volatility, reaching a high of $239.62 and a low of $125.03 [5] Group 2: Market Outlook - Mizuho Securities has set a price target of $190 for ServiceNow, indicating a potential price increase of approximately 51.52% from its current trading price [2][6] - The optimistic outlook from Mizuho Securities suggests confidence in ServiceNow's potential for recovery and growth despite the previous year's challenges [5][6] Group 3: Product Innovations - ServiceNow introduced major updates to its platform in 2025, including the Yokohama upgrade that transitioned its AI platform to a more autonomous system, followed by the Zurich upgrade to further enhance capabilities [3]

Group 1: Earnings Reports and Expectations - The first Big Tech earnings of the year will begin with Intel reporting results, with a focus on AI monetization and spending from major companies like Amazon, Google, Microsoft, and Meta [1] - Investors are particularly interested in PC chip sales from AMD and Intel, which may benefit from Microsoft's end of support for Windows 10, although a global memory shortage could negatively impact sales outlooks [2] - Apple's earnings are anticipated to show solid growth driven by strong iPhone sales in Q4, while Nvidia's future in China remains uncertain as it seeks to reestablish its business in a key AI market [3] Group 2: AI Spending and Capital Expenditures - Major AI spenders include Amazon, Google, Meta, and Microsoft, with their earnings results expected to influence AI companies across the market [6] - Amazon plans to invest $125 billion in data centers by 2025, with even higher spending anticipated in 2026 [6] - Google has raised its 2025 capital expenditures forecast to between $91 billion and $93 billion, up from $85 billion, with significant increases expected in 2026 [7] - Meta has also increased its 2025 capital expenditures projection to between $70 billion and $72 billion, with total expenses expected to grow at a faster rate in 2026, driven by infrastructure costs and employee compensation [7][8]

Core Points - A securities fraud class action lawsuit has been filed against CoreWeave, Inc. for alleged misstatements and omissions regarding its financial performance and operational risks during the Class Period from March 28, 2025, to December 15, 2025 [2][8] - The lawsuit claims that CoreWeave overstated its ability to meet customer demand and failed to adequately disclose risks associated with reliance on a single third-party data center supplier, which could negatively impact revenue [3][8] - Investors affected by losses during the Class Period are encouraged to contact Kessler Topaz Meltzer & Check, LLP for more information and to potentially serve as lead plaintiffs in the case [4][5] Company Information - CoreWeave, Inc. trades on NASDAQ under the ticker CRWV and is currently facing legal challenges due to allegations of securities fraud [2][8] - The law firm Kessler Topaz Meltzer & Check, LLP specializes in securities-fraud class actions and represents both individual and institutional investors [6][9] - The firm has a history of significant recoveries in securities litigation and has received numerous accolades for its work in this field [9]

Core Viewpoint - Amazon.com Inc. is expected to regain its market leadership position after years of underperformance compared to its Big Tech rivals, driven by strong demand for its Amazon Web Services (AWS) cloud-computing business and advancements in artificial intelligence (AI) technology [1][2]. Group 1: AWS and AI Impact - The demand for AWS is anticipated to benefit significantly from the growth of AI technology, which is also expected to enhance Amazon's e-commerce operations through improved advertising targeting and logistics efficiency [2]. - Portfolio managers believe that improvements in AWS will positively influence the stock's perception, which has been viewed as a laggard in the cloud sector [3]. Group 2: Stock Performance and Valuation - Amazon shares were the worst performers among the Magnificent Seven tech stocks in 2025, marking the seventh consecutive year of underperformance, with a 5% gain compared to a 20% increase in the Nasdaq 100 Index [4]. - The stock is currently trading at approximately 24 times projected earnings for the next 12 months, which is lower than competitors like Apple, Microsoft, and Alphabet, and significantly below its five-year average of 36 [5]. Group 3: Market Sentiment and Comparisons - Wall Street analysts point to Alphabet's recent stock rebound as a potential model for Amazon, noting that Alphabet was previously seen as a loser in the AI race but experienced a significant turnaround after launching its Gemini AI model [6]. - Following the release of the Gemini AI model, Alphabet's shares surged by 89%, leading to speculation that Amazon could be the next tech stock to benefit from a similar surge in AI enthusiasm [7].

Core Points - A class action lawsuit has been filed against CoreWeave, Inc. and certain senior executives for securities fraud following significant stock drops due to potential violations of federal securities laws [1][3] - Investors are encouraged to seek additional information regarding the lawsuit and their legal options [2][9] Company Overview - CoreWeave is an AI-focused cloud computing company that operates data centers providing high-performance GPU infrastructure [4] - The company relies on partnerships, including a merger agreement with Core Scientific, to develop its data centers [4] Allegations and Stock Performance - CoreWeave allegedly overstated its ability to meet customer demand and concealed significant construction delays at its data centers [5] - The stock price dropped significantly due to various announcements: - On October 30, 2025, the stock fell by $8.87 (over 6%) after the merger with Core Scientific was terminated [6] - On November 10, 2025, the stock dropped by $17.22 (over 16%) following lowered guidance for revenue and operational metrics due to construction delays [7] - On December 15, 2025, the stock decreased by $2.85 (over 3%) after reports of further delays in a major data center project [8]

Core Viewpoint - The market requires trillions of dollars for AI infrastructure development, as stated by NVIDIA CEO Jensen Huang, highlighting the urgency of investment in this sector [1][2]. Group 1: NVIDIA - NVIDIA is positioned as the leader in AI infrastructure, capturing 80-85% gross margins and showing significant financial performance with $31.9 billion in net income and $57 billion in revenue for Q3 FY2026 [2][15][16]. - The company is expanding globally, as indicated by Huang's visit to China, which reflects its strategy to navigate geopolitical challenges while capitalizing on the growing demand for AI infrastructure [17]. - The forward PE of 24x suggests that the market anticipates continued growth, making NVIDIA a key player in the AI infrastructure wave [16][18]. Group 2: Meta Platforms - Meta is investing heavily in its own AI infrastructure, spending $18.8 billion per quarter, which has led to a decline in stock performance despite strong earnings [3][4]. - The company reported $2.7 billion in net income for Q3 2025, impacted by a significant tax expense, indicating healthy profitability when adjusted [4]. - The forward PE of 21x reflects a bet on the company's ability to monetize its infrastructure effectively by 2027 [5]. Group 3: Amazon - Amazon's AWS division is crucial for its growth, with a quarterly capex of $35.1 billion, but the stock has underperformed, being flat year-to-date [6][7]. - The company reported $21.2 billion in net income on $180.2 billion in revenue for Q3 2025, with an 11.1% profit margin, emphasizing the importance of AWS in driving profitability [7]. - The forward PE of 30x indicates that investors expect significant growth from AWS, particularly in monetizing AI workloads [7][8]. Group 4: Microsoft - Microsoft is heavily investing in Azure, with $19.4 billion in capex for Q1 FY2026, but the stock has seen a decline despite revenue growth of 18.4% [9][10]. - The company reported $27.7 billion in net income on $77.7 billion in revenue, showcasing a strong operating margin of 48.9% [10]. - The forward PE of 29x suggests that the market is optimistic about Azure's potential to accelerate AI revenue [11]. Group 5: AMD - AMD secured a 10-year, $311 million data center lease with Riot Platforms, validating its MI455X accelerators as credible alternatives to NVIDIA's offerings [12][13]. - The stock has increased by 96% over the past year, with Q3 2025 showing $1.2 billion in net income on $9.2 billion in revenue [13]. - The forward PE of 37x indicates expectations for significant growth, with analysts projecting a target price of $286, representing a 38% upside [13][14].

Core Insights - Kingsoft Cloud's intelligent computing platform, StarryFlow, has completed a strategic upgrade from a resource management platform to a one-stop AI training and inference platform [1][3] - The upgraded StarryFlow platform creates a full-loop ecosystem that includes heterogeneous resource scheduling, self-healing for training task failures, support for robotic industry applications, and commercialization of model API services [1][3] Platform Efficiency - The StarryFlow training and inference platform offers complete lifecycle management from model development to inference, featuring four key capabilities: development, training, inference, and data processing [1][3] - By reducing the complexity of multi-module collaboration, the platform enables an "out-of-the-box" AI development experience [1][3] - The self-developed GPU self-healing technology, combined with task observability design, allows for real-time monitoring of hardware health and task progress, automatically triggering fault migration and task rescheduling to minimize computing interruptions and ensure stable long-term training task operations [1][3] Robotic Platform Integration - The StarryFlow robotic platform deeply integrates core processes such as data collection, storage, annotation, model development, training, deployment, and simulation, creating a unified engine for data, models, and simulation tailored to specific scenarios [2][4] - The model API service on the StarryFlow platform provides high availability and easy integration for model invocation and management, covering the entire lifecycle of model usage [2][4] - This service supports high-concurrency inference and multi-model management, enabling users to efficiently access various model resources, thus facilitating the implementation of large model applications [2][4] - Currently, the StarryFlow platform's model ecosystem supports nearly 40 different models, including DeepSeek, Xiaomi MiMo, Qwen3, and Kimi, allowing clients to access multiple models through a one-stop interface while focusing on AI business innovation and value creation [2][4]

Group 1 - Kingsoft Cloud (KC.US) shares rose 3.17% to $11.70 in pre-market trading [1] - The company announced a strategic upgrade of its AI training and deployment platform, Kingsoft Cloud Star Stream, transitioning from a resource management platform to a one-stop AI training and deployment solution [1] - Analysts believe that the AI application sector is on the verge of explosive growth, and Kingsoft Cloud has been enhancing its full-stack AI capabilities in preparation for this surge [1] Group 2 - The company has laid out a roadmap for its AI development, with plans for infrastructure in 2023, platformization and serverless architecture in 2024, and a comprehensive AI training and deployment platform by 2025 [1] - Kingsoft Cloud is expected to benefit from the growth in AI development, potentially unlocking new avenues for revenue growth [1]

Core Insights - Analysts predict significant growth for select AI stocks, with potential increases ranging from 89% to 109% in 2026, marking a new technological revolution akin to the internet boom [1][2][3] Company Summaries Nvidia - Nvidia is seen as a leader in the AI revolution, with 64 analysts rating it as a strong buy, and a price target of $352 suggesting an 89% upside, potentially raising its market cap to nearly $8.6 trillion [4][5] - The company is leveraging advancements in parallel processing and its CUDA software platform to enhance its GPUs, which are critical for AI applications [6][7] - Despite its strong position, Nvidia faces challenges related to historical technology bubbles and a high price-to-sales ratio exceeding 30 [8] Oracle - Oracle is projected to have a 109% upside, with a target price of $400, as analysts believe concerns over its hyperscaler concentration are overstated [9][10] - The company has a robust remaining performance obligation (RPO) of $523 billion, indicating substantial future revenue beyond its contract with OpenAI [10] - Oracle's shares have declined by 42% since mid-September, leading to a forward P/E ratio of 24, which is attractive given expected sales growth [12] Super Micro Computer - Super Micro Computer is expected to see a 93% upside, with a target price of $63, driven by its integration with Nvidia's GPUs [14][15] - The company benefits from a growing demand backlog due to Nvidia's innovation cycles and is supported by Taiwan Semiconductor Manufacturing's expansion of GPU supply [16] - Super Micro's shares are trading at less than 11 times forward-year earnings, with projected sales growth of 64% for fiscal 2026, making it an appealing investment despite concerns over margin deflation [17][18]

Core Insights - KSYun, a well-known cloud service provider, has upgraded its AI training and deployment platform, KSYun Starflow, to a one-stop solution to meet the increasing demand for intelligent computing driven by the AI application boom [1] Industry Overview - According to Forrester Research, the total addressable market (TAM) for AI in China's new cloud sector is projected to reach 212 billion yuan by 2025 and exceed 410 billion yuan by 2028 [1] - Companies are increasingly focused on the efficiency and usability of AI applications [1] Company Developments - KSYun Starflow platform features four key modules: development, training, inference, and data processing, which simplifies the complexity of multi-module collaboration and provides an "out-of-the-box" AI development experience [1] - The platform incorporates self-developed GPU fault recovery technology and task observability design, enabling real-time monitoring of hardware health and task progress, which reduces the risk of computing interruptions and ensures stable operation of long-duration training tasks [1] - Currently, the KSYun Starflow platform supports nearly 40 models, including DeepSeek and Xiaomi MiMo, enhancing the efficiency and convenience of AI deployment [1]