Group 1: Peter Thiel's Investment Moves - At the end of 2024, Peter Thiel had a stake in Amazon worth approximately $42 million, which he sold by the end of Q3 2025 [1] - Thiel's former stake in Amazon would now be valued at around $44.2 million, indicating a potential missed opportunity of about $2 million [4] - Thiel has also sold his entire position in Nvidia, offloading 537,742 shares valued at over $100 million, marking a significant portfolio shift [5] Group 2: Portfolio Strategy Changes - The sale of Nvidia, which previously represented 40% of Thiel Macro's holdings, reduced the fund's U.S. equity exposure from $212 million to $74.4 million, reflecting a broader risk-reduction strategy [6] - Thiel trimmed his Tesla holdings by 76% while increasing stakes in Apple and Microsoft, indicating a shift towards more defensive mega-cap stocks [6] Group 3: Microsoft and AI Operations - The new position in Microsoft is particularly notable as the company has accelerated its artificial intelligence operations, with 90% of Fortune 500 companies now utilizing its AI assistant, Microsoft 365 Copilot [7]

记者丨彭新 编辑丨包芳鸣 国产GPU（图形处理器）公司沐曦集成电路（上海）股份有限公司（沐曦股份，688802.SH） 即将登陆科创板。 11月27日，沐曦股份发布发行安排及初步询价公告，公司首次公开发行股票并在科创板上市申 请已获注册。本次拟公开发行股票4010万股，占发行后总股本的10.02%。初步询价日期为12 月2日，网下、网上申购日为12月5日，保荐机构为华泰联合证券。 招股意向书显示， 沐曦股份此次IPO拟募集资金39.04亿元， 相关资金拟用于投资新型高性能 通用GPU研发及产业化项目（C600与C700）、新一代人工智能推理GPU研发及产业化项目、 面向前沿领域及新兴应用场景的高性能GPU技术研发项目。 若发行顺利， 沐曦股份将有望紧跟摩尔线程，成为第二家登陆A股的国产GPU公司。 金）持股1.96%外，知名投资人葛卫东及其控制的混沌投资合计持股7.48%，红杉资本、经纬 创投、和利资本等一线机构均在股东之列。 此前多轮融资推高了公司的一级市场估值。在2025年2月的增资中，葛卫东等投资者入股价格 对应公司投后 估值已达210.71亿元 。 总体来看，受益于AI大模型爆发带来的算力需求激增及国 ...

21世纪经济报道记者彭新国产GPU（图形处理器）公司沐曦集成电路（上海）股份有限公司（沐曦股 份，688802.SH）即将登陆科创板。 11月27日，沐曦股份发布发行安排及初步询价公告，公司首次公开发行股票并在科创板上市申请已获注 册。本次拟公开发行股票4010万股，占发行后总股本的10.02%。初步询价日期为12月2日，网下、网上 申购日为12月5日，保荐机构为华泰联合证券。 招股意向书显示，沐曦股份此次IPO拟募集资金39.04亿元，相关资金拟用于投资新型高性能通用GPU研 发及产业化项目（C600与C700）、新一代人工智能推理GPU研发及产业化项目、面向前沿领域及新兴 应用场景的高性能GPU技术研发项目。 若发行顺利，沐曦股份将有望紧跟摩尔线程，成为第二家登陆A股的国产GPU公司。 然而，由于GPU行业属于典型的资本与技术双密集型领域，高昂投入下，沐曦股份仍处于亏损状态。 2022年至2024年，沐曦股份归母净利润分别为-7.77亿元、-8.71亿元、-14.09亿元。截至2025年3月末， 公司合并报表累计未分配利润为-10.48亿元。 沐曦股份在招股书中坦言，预计首次公开发行股票并上市后，账面累计 ...

Core Insights - Sands Capital Select Growth Strategy reported a portfolio return of 6.3% in Q3 2025, underperforming the benchmark's 10.5% gain, driven by strong corporate earnings and AI enthusiasm [1] Company Highlights - Broadcom Inc. (NASDAQ:AVGO) is a leading technology company with a one-month return of 3.00% and a remarkable 148.99% increase in share value over the last 52 weeks, closing at $397.57 per share with a market capitalization of $1.877 trillion on November 26, 2025 [2] - In Q3 2025, Broadcom achieved a record revenue of $16 billion, reflecting a 22% year-over-year growth, and reported a 63% year-over-year growth in AI semiconductor revenues [4] Strategic Developments - Broadcom secured $10 billion in orders for custom semiconductor chip designs, which is expected to significantly impact 2026 revenues and strengthen its position as a preferred provider of custom AI-chip design services [3]

Sands Capital, an investment management company, released its “Sands Capital Select Growth Strategy” Q3 2025 investor letter. A copy of the letter can be downloaded here. U.S. large-cap growth equities continued to recover from a sharp sell-off in early April. Strong corporate earnings, investor enthusiasm around artificial intelligence (AI), and growing expectations for Federal Reserve policy easing drove the robust gains. The portfolio returned 6.3% (net) in the quarter, compared to the benchmark's 10.5% ...

Core Insights - Sands Capital Select Growth Strategy reported a portfolio return of 6.3% in Q3 2025, underperforming the benchmark's 10.5% gain, driven by strong corporate earnings and AI enthusiasm [1] - NVIDIA Corporation (NASDAQ:NVDA) is highlighted as a key stock, with a one-month return of -12.93% but a 52-week gain of 33.19%, closing at $180.26 per share with a market cap of $4.381 trillion [2][3] Company Performance - NVIDIA's datacenter segment showed significant growth, accelerating from 64% year-over-year growth to 73%, with guidance suggesting further increase to 84%, despite a decline in China's contribution to revenue [3] - NVIDIA's partnership with OpenAI aims to deploy at least 10 gigawatts of systems for AI infrastructure, with the first phase expected to go live in 2026 [3] Market Position - NVIDIA ranks 5th among the 30 Most Popular Stocks Among Hedge Funds, with 235 hedge fund portfolios holding its stock at the end of Q2 2025, an increase from 212 in the previous quarter [4] - In Q2 2026, NVIDIA reported revenues of $46.7 billion, exceeding expectations, although there are suggestions that other AI stocks may offer greater upside potential with less downside risk [4]

11月25日晚间，思瑞浦微电子科技(苏州)股份有限公司宣布筹划通过发行股份及/或支付现金的方式收购 宁波奥拉半导体股份有限公司(以下简称"奥拉股份")股权并同步募集配套资金。 据悉，思瑞浦与奥拉股份在各自细分领域占据技术高地，此次通过协同升级实现优势互补，两家技术驱 动型企业的结合有望释放"1+1>2"的协同效应。此次并购若顺利完成，或重塑国内高端模拟芯片市场格 局。 产业变局推动下的发展联合 思瑞浦则凭借其在工业、汽车、通信等应用市场的深厚积累，拥有覆盖全球的6000多家客户资源和完善 的产品销售网络。技术研发与市场拓展的完美结合，将极大加速新产品推出和市场渗透步伐。 突破壁垒携手创新共赢 思瑞浦与奥拉半导体的结合，将在多个关键领域实现国产芯片的突破性进展。 在AI服务器和数据中心市场，双方产品的有机结合，可提供从时钟、电源到信号链的全套解决方案， 打破国外厂商在这一高价值领域的垄断地位。 在5G通信领域，奥拉的时钟芯片与思瑞浦的通信接口芯片相结合，能够为基站设备商提供更完整、更 具竞争力的芯片组解决方案。 值得注意的是，奥拉半导体在2024年已实现扭亏为盈，1-7月净利润达3.07亿元，显示出其产品商业化 ...

国家知识产权局信息显示，英特尔公司取得一项名为"利用具有集成熔丝的模块化衬底设计的微电子器 件"的专利，授权公告号CN109216318B，申请日期为2018年5月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：情报员 ...

智通财经APP获悉，关于台积电(TSM.US)指控前高管携带商业机密跳槽英特尔(INTC.US)的纠纷正不断 升级。据最新消息显示，检方日前对被指控可能向英特尔泄露商业机密的前台积电高管罗唯仁的住所展 开搜查。此举表明，中国台湾省当局正对这起备受关注的商业纠纷加大调查力度。 据了解，罗唯仁曾负责台积电的研发业务，在推动尖端芯片量产方面发挥了关键作用，其中包括用于人 工智能加速器的芯片。他在台积电任职超过20年后，于今年7月离职。 检方办公室在声明中表示，执法人员于周三对前资深副总裁罗唯仁位于台北和新竹的两处住宅进行了搜 查。此次行动距离台积电正式起诉罗唯仁仅过去数日，公司称其极有可能将这家全球最先进芯片制造商 的敏感信息泄露给美国雇主英特尔。英特尔方面否认了相关指控，而罗唯仁迄今未通过公司发表任何评 论。 台湾省经济事务主管部门表示，将密切关注此案对芯片产业可能产生的影响，并与地方检方合作调查， 核实该案是否违反相关法律。 台积电与中国台湾省当局对此案异乎寻常的高度关注，凸显了尖端芯片技术的极度敏感性——这项技术 不仅维系着这家亚洲企业的市场领导地位，更关乎中国台湾省自身地缘政治的影响力。台积电员工跳槽 至竞 ...

Key Points Artificial intelligence (AI) is a potentially game-changing technology for businesses around the globe -- and Nvidia's graphics processing units (GPUs) are the heartbeat of this revolution. Insatiable enterprise demand for Nvidia's GPUs sent revenue soaring 62% in the latest quarter. However, a deeper dive into Nvidia's fiscal third-quarter 10-Q reveals a concerning revenue concentration risk. 10 stocks we like better than Nvidia › Beginning in the mid-1990s, the advent and mainstream ...