Core Insights - Meta Platforms is positioned as a leading AI stock for 2026, driven by significant advancements in its advertising business and productivity enhancements through AI technologies [1] Group 1: Advertising Business Transformation - Meta's ad revenue increased by 24% year over year in Q4, reaching $58.1 billion, with AI playing a crucial role in enhancing revenue and profits [2] - The company revamped its ad ranking model and doubled GPU usage for AI training, resulting in a 3.5% rise in ad clicks on Facebook and over 1% increase in ad conversions on Instagram [3] Group 2: Productivity Improvements - The implementation of agentic coding has led to a 30% increase in output per engineer since early 2025, with power users experiencing an 80% year-over-year productivity boost [4] - CFO Susan Li indicated that growth is expected to accelerate in the latter half of 2026 [5] Group 3: Product Innovations - Sales of Meta's AI-powered smart glasses tripled in 2025, with CEO Mark Zuckerberg comparing their potential impact to that of smartphones [5][6] - Meta is committed to developing personal superintelligence, which is anticipated to significantly enhance user experience by understanding individual preferences and relationships [7] Group 4: AI Infrastructure Development - Meta established a new division, Meta Compute, aimed at creating custom silicon and energy sources for AI, which is expected to reduce reliance on third-party chips and lower energy costs [8][9] - The Andromeda ad retrieval engine is now compatible with various GPUs, including Nvidia and AMD, enhancing operational flexibility [9] Group 5: Business-to-Business Revenue Growth - Agentic AI is also contributing to B2B revenue, with Meta's business AIs on WhatsApp facilitating over 1 million weekly conversations between customers and businesses in Mexico and the Philippines [10][11] - Plans are in place to expand the availability of these AI agents to more markets in 2026 [11] Group 6: Reality Labs Financial Outlook - Reality Labs reported a $6 billion loss in Q3, which impacted overall profits, but losses are expected to stabilize in 2026, with a focus on AI glasses and wearables [12][13]

Core Insights - Nvidia has experienced significant volatility over the past five years, transitioning from a gaming-focused revenue model to a data center-driven growth strategy fueled by artificial intelligence demand [2][4]. Financial Performance - In early 2021, Nvidia's gaming segment contributed approximately 50% of its revenue, but the company faced a 24% stock decline due to GPU shortage fears [2]. - Nvidia reported record quarterly revenue of $5 billion for Q4 of fiscal 2021, leading to a stock gain of 125% that year [3]. - However, between November 2021 and October 2022, Nvidia's stock price fell by 66% due to inflation and slowing economic growth [3]. - Currently, Nvidia's data center segment generated record revenue exceeding $51 billion in the third quarter, which is more than ten times its total revenue from five years ago [4]. - The company's market capitalization stands at $4.6 trillion, with a current stock price of $191.13 [5]. - Management forecasts fourth-quarter revenue of $65 billion, indicating a growth rate of 65% [6]. Investment Returns - An investment of $100 in Nvidia stock five years ago would now be worth $1,479, reflecting a remarkable gain of 1,380% [7].

编者荐语： 日经中文网与36氪开展内容交换合作。将精选36氪的精彩独家财经、科技、企业资讯，与读者分享。 以下文章来源于36氪 ，作者邱晓芬 36氪 . 36氪是服务中国新经济参与者的卓越品牌和开创性平台，提供新锐深度的商业报道，强调趋势和价值，我们的slogan是：让一部分人先看到未来。 平头哥自研PPU已成为中国新增AI算力市场的主力芯片之一。 文 ｜ 邱晓芬 封面来源 ｜ 日经中文网 1月22日，接近市场人士称，阿里巴巴集团已决定支持旗下芯片公司平头哥未来独立上市。平头哥是阿里巴巴全资子公司，于2018年成立。 成立8年以来，公司已在计算、存储、网络等领域推出多款性能业界顶级的芯片，据悉，平头哥自研PPU已成为中国新增AI算力市场的主力芯片之一。 互联网公司里， 自研芯片的早期探索者 芯片一直被认为是科技领域最难坑的骨头之一，而平头哥创立之前，阿里巴巴的硬件研发「履历」几乎空白，互联网公司造芯在国内更无先例，平头哥研 发芯片的难度不亚于阿里投入云计算。 虽然现实很骨感，但在这场技术和资本的游戏里，阿里的战略决心不亚于对阿里云的长期投入。 公司成立后，内部芯片研发的路线和模式非常清晰，即重点围绕云端数据中 ...

Core Insights - IonQ has established itself in the quantum computing sector by developing one of the most accurate systems, achieving 99.99% two-qubit gate fidelity [1] - The company is pursuing vertical integration to enhance scalability and control over the quantum ecosystem through strategic acquisitions [2] Company Strategy - IonQ has made significant acquisitions, including Oxford Ionics for reducing quantum computer size, LightSynq for photonic interconnect technology, Capella for satellite-based distribution, and Vector Atomic for quantum sensing technology [4] - The latest acquisition of SkyWater Technology allows IonQ to manufacture its own chips, making it the only vertically integrated quantum computing company [5] Industry Context - Most semiconductor companies operate on a fabless model, relying on third-party foundries, but vertical integration is advantageous in the emerging quantum computing field [6] - With SkyWater's fabs located in the U.S. and its trusted status with the government, IonQ is positioned to secure government contracts in quantum computing, which is a promising revenue source [8]

Key Takeaways More than 84% of Symbotic's fiscal 2025 revenues were generated from Walmart. SYM's $22.5B backlog is largely tied to Walmart and GreenBox, highlighting its customer concentration.A new Nyobolt deal boosts SymBot performance and aids SYM's effort to diversify beyond Walmart. A significant portion of Symbotic’s (SYM) revenues is derived from its partnership with retailer Walmart (WMT) , which serves as the largest customer. In January 2025, Symbotic acquired the Advanced Systems and Robotics bu ...

Core Viewpoint - In 2025, despite increasing uncertainties in external demand, China's major provinces have stabilized their economic foundations, with several economic powerhouses achieving record GDP growth [1][3]. Economic Performance - In 2025, three provinces surpassed a GDP of 10 trillion yuan, with Guangdong leading at 14.58 trillion yuan, followed by Jiangsu at 14 trillion yuan, and Shandong breaking the 10 trillion yuan mark for the first time [3][6]. - Guangdong's GDP reached 145,846.76 billion yuan, marking its 37th consecutive year at the top of the national GDP rankings, with advanced manufacturing and high-tech manufacturing growing by 5.1% and 6.2% respectively [6]. - Jiangsu's GDP was 142,351.5 billion yuan, a 5.3% increase year-on-year, while Shandong's GDP reached 103,197 billion yuan, growing by 5.5% [6][7]. Industrial Development - The industrial sector remains a core support for Jiangsu's growth, with notable performance in high-end manufacturing, particularly in electronics and transportation equipment [6][7]. - Shandong's equipment manufacturing sector saw an 11.4% increase in value added, with significant growth in automotive and rail transport industries [7]. - In 2025, 20 provinces achieved GDP growth rates above the national average of 5%, with western provinces like Tibet leading at 7% [8]. Trade Resilience - Despite uncertainties, foreign trade showed resilience, with new energy vehicles, lithium batteries, and photovoltaic products becoming significant contributors to exports [8]. - Anhui's foreign trade exceeded 1 trillion yuan for the first time, with a 1.1 times increase in exports of the "new three items" [8]. Regional Strategies - Various provinces emphasized tailored industrial planning during their local meetings, focusing on upgrading existing industries rather than simply moving away from traditional sectors [10]. - Guangdong aims to build a competitive modern industrial system, emphasizing high-quality manufacturing and integrating artificial intelligence into its industrial framework [10][11]. - Zhejiang's strategy includes embedding AI into industrial upgrades, leveraging its strong digital economy and private sector participation [12]. Traditional Industry Enhancement - Provinces like Hubei and Henan are focusing on enhancing their traditional industries while also promoting new sectors [14][15]. - Hubei's plan includes upgrading traditional sectors like automotive and steel while fostering emerging industries such as integrated circuits and artificial intelligence [14][15]. - The strategy of "three lines advancing" aims to strengthen the competitiveness of traditional industries while supporting new and future industries [15][16].

Key Takeaways SERV is scaling urban delivery, expanding fleets past 2,000 robots as autonomy and utilization improve.TER's Q3 2025 revenues rise 4.3% as AI-driven semiconductor test demand lifted compute and memory shipments.TER faces uneven robotics demand, but expects AI compute, networking and memory to drive growth through 2026.Automation and robotics are steadily moving from experimentation into real-world deployment as advances in AI, compute and machine intelligence intersect with labor constraints a ...

业绩指引方面，SanDisk预计，2026财年第三财季营收将在44亿美元至48亿美元之间，GAAP毛利率预 计在64.9%至66.9%之间。SanDisk首席执行官David Goeckeler表示，展望未来，2026年之后的客户需求 远高于供应。在世界上一些最大和资本最雄厚的科技公司的推动下，预计数据中心将在2026年首次成为 NAND的最大市场。不过，公司仍坚持现有资本支出计划，拒绝盲目扩产。 周五，SanDisk(SNDK.US)盘前大涨逾22%，报661.50美元。财报显示，2026财年第二财季，SanDisk营 收为30.25亿美元，同比增长61%；GAAP口径下净利润为8.03亿美元，同比增长672%；GAAP口径下稀 释后每股收益为5.15美元，同比增长615%；GAAP口径下毛利率为50.9%，相比去年同期提升18.6%，全 面超越市场预期。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 Suzhou Novosense Microelectronics Co., Ltd. 蘇州納芯微電子股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2676） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B 條而作出。 茲 載 列 蘇 州 納 芯 微 電 子 股 份 有 限 公 司（「 本公司 」）於 上 海 證 券 交 易 所 網 站 (www.sse.com.cn) 所刊發的公告，僅供參考。 承董事會命 蘇州納芯微電子股份有限公司 董事長兼執行董事 王升楊先生 香港，2026年1月30日 截 至 本 公 告 日 期，本 公 司 董 事 包 括：(i)執 行 董 事 王 升 楊 先 生、盛 雲 先 生、王 一 峰 先生及姜超尚先生；(ii)非執行董事吳傑先生；及(iii)獨立非執行董事洪志良博士、 陳西嬋博士、王如偉先生及杜琳琳女士。 苏州纳芯微电子 ...

以下为2025年度新质100创新企业榜： 360集团 爱美客 百川智能 柏垠生物 达梦数据 海光信息 华硼中子 极智嘉科技 佳杰云星 金山办公 君实生物 科曼医疗 莱芒生物 老来健康 凌雄科技 Mirxes觅瑞 墨芯人工智能 欧冶半导体 擎朗智能 週届日日 安恒信息 百度慧播星 北京人形 丹诺医药 海康威视 华为终端 剂泰科技 箭元科技 京北方 康盈半导体 快看漫画 蓝箭航天 理工雷科 蚂蚁集团 壓尔线程 默达生物 普瑞基准 深睿医疗 爱连健康 奧比中光 百利天恒 长生医疗 国泰海通证券 寒武纪 火石创造 加速进化 会蝶集团 京东科技 科大讯飞 快手科技 浪潮海岳HOM 立康生命科技 Medidata 魔法原子 纳安生物 阡视科技 深之蓝 1月30日，由经济观察报社举办的2025年度创新峰会成功举办。此次峰会以 "新质领航 创启未来" 为主题，汇聚多名企业家、学者及行业领袖，围 绕人工智能、数字化转型、机器人、生物医药等热点领域，分享前沿动态与创新实践。 随着全球产业竞争进入 "创新竞速、集群突破" 的新阶段，中国正以 "新质生产力" 突破传统增长路径 —— 人工智能重构产业效率、半导体芯片 打破技术壁垒、空 ...