国海证券发布研报称，考虑到联想集团(00992)混合式AI进展显著，调整公司盈利预测，预计公司 FY2026-FY2028营收分别为801.44、876.00、932.35亿美元，non-HKFRS净利润分别为17.96、19.73、 21.11亿美元，对应non-HKFRSP/E倍数为8.0x、7.2x、6.8x，维持"买入"评级。 智能设备业务集团：平均售价上升及产品结构优化促进业务利润提升 FY2026Q3，公司智能设备业务集团收入同比增长14%，运营利润同比增长15%。受惠于平均售价上升 以及高端个人电脑、人工智能个人电脑、游戏个人电脑及个人电脑周边业务的净利润率增长，个人电 脑、平板电脑及其他智能设备的盈利能力保持强劲。个人电脑周边业务收入取得高双位数增长，利润率 显著提升，进一步改善整体组合及盈利水平。 基础设施方案集团：进行战略重组，预计将加速在FY2027重回盈利轨道 FY2026Q3，得益于云基础设施业务客户群扩大，公司基础设施方案业务集团收入创下52亿美元的最高 水平，同比增长31%。并且，公司推行了战略重组计划，产生一次性重组费用2.85亿美元，此举通过调 整产品组合，提升员工技能，实现 ...

Core Insights - Oracle announced a plan to raise up to $50 billion through bond and equity financing to meet cloud infrastructure demands from major clients like AMD, Meta, and NVIDIA, raising concerns among investors about increasing debt levels [1] - A significant stock price increase occurred following an upgrade in institutional ratings, reflecting short-term optimism regarding Oracle's cloud business prospects [1] - Oracle faces challenges in financing due to difficulties in expanding AI data centers, with several U.S. banks halting loans, leading to plans for layoffs of 20,000 to 30,000 employees and potential sale of its healthcare software division, Cerner [1] Stock Performance - Oracle's stock price exhibited notable volatility over a recent seven-day period, with a closing price of $142.82 on February 6, rising by 9.64% to $156.59 on February 9, and further increasing by 2.11% to $159.89 on February 10, before a slight pullback to $157.16 on February 11, and closing at $155.65 on February 12, resulting in a cumulative increase of 14.05% and a trading range of 19.40% [2] - Despite the recent gains, the stock price has declined approximately 19.92% year-to-date, indicating market caution regarding long-term debt risks [2] Institutional Perspectives - In February 2026, 44 institutions provided ratings on Oracle, with 77% recommending buy or hold, 20% holding, and 3% suggesting sell, indicating a target average price of $276.47, suggesting significant upside potential compared to current stock prices [3] - Bernstein's report on February 12, 2026, posited that even if AI clients like OpenAI completely withdrew, Oracle's valuation floor would be $137 per share, indicating limited downside risk, while an optimistic scenario could see a target price of $313, suggesting that market concerns about AI dependency may be overvalued [3] - D.A. Davidson upgraded its rating to "buy" on February 10, 2026, with a target price of $180, asserting that the core software business valuation has accounted for risks, and the cloud infrastructure business has potential for upward growth [3]

Core Viewpoint - Oracle plans to raise up to $50 billion through debt and equity financing in 2026 to meet the cloud infrastructure demands of major clients like AMD, Meta, and Nvidia, despite investor concerns over rising debt levels [1][2] Group 1: Financing Plans - Oracle announced a large-scale financing plan to raise up to $50 billion in 2026 [1] - The financing aims to support cloud infrastructure needs for significant clients [1] Group 2: Market Reactions - Oracle's stock price surged by 9.64% to $156.59 on February 9, 2026, following an upgrade in institutional ratings [2] - The stock continued to rise by 2.11% to $159.89 on February 10, 2026, resulting in a cumulative increase of 9.01% over the period [2] - Despite the recent gains, Oracle's stock has declined by 17.75% year-to-date, indicating market caution regarding long-term debt risks [2] Group 3: Trading Activity - Trading volume reached $6.477 billion on February 10, 2026, with a turnover rate of 1.39%, reflecting increased trading activity [2] - The stock exhibited a volatility range of 20.55% during the recent period [2]

路透社2月9日消息，阿布扎比科技集团G42与越南FPT（电信）集团及Viet Thai集团组成的财团签署协 议，将在越南发展主权人工智能和云基础设施。根据框架协议，各方计划投资10亿美元，在越南三处数 据中心部署云计算能力，以支持"AI原生社会"建设并保障数据主权。越南媒体此前报道称，相关方还计 划在胡志明市建设一座价值20亿美元的超大规模数据中心。 【资料图】 ...

Group 1 - The core agreement involves a consortium led by Abu Dhabi's G42, along with Vietnam's FPT Group and Viet Thai Group, to develop sovereign artificial intelligence and cloud infrastructure in Vietnam [1] - The framework agreement outlines a planned investment of $1 billion to deploy cloud computing capabilities across three data centers in Vietnam, aimed at supporting the construction of an "AI-native society" and ensuring data sovereignty [1] - Additionally, there are plans to build a massive data center in Ho Chi Minh City, valued at $2 billion [1]

Report Industry Investment Rating - Not provided Core Viewpoints - The global economy has passed its peak and is starting to decline due to continuous wrong policies in the US [2] - There is significant uncertainty in the global economic situation, influenced by factors such as potential inflation resurgence, Fed policy changes, and geopolitical issues [1][2] Summary by Related Content Global Economic News - Global financial giants like BlackRock, Pimco, and Bridgewater are guarding against inflation resurgence, with the 10 - year inflation swap reaching its highest increase in a year. Some top - tier institutions warn that inflation may return above 4% by the end of the year [1] - Morgan Stanley believes that the Fed's current large balance sheet is a decision of the existing FOMC. If unemployment drops further, spending remains strong, and inflation doesn't decline, the Fed may keep interest rates unchanged this year [1] - Oracle plans to raise up to $50 billion in 2026 through bond and equity financing for cloud infrastructure expansion, but it already has $95 billion in debt [1] - Red杉 Capital partner thinks SpaceX's valuation has soared from $36 billion in 2019 to $800 billion, and Musk's business value is still underestimated [1] - Tesla will unveil the third - generation humanoid robot, with a planned annual production of 1 million units. The Model S/X production line at the Fremont factory will be converted, and mass production is expected to start by the end of 2026 [1] - The market interprets Japan's statement on "enhancing economic resilience to exchange - rate fluctuations" as a cautious downgrade of direct yen intervention. The yen faces a rising risk of a short - term decline [1] - Due to inflation stickiness and strong employment, the market is re - evaluating the Reserve Bank of Australia's policy. The probability of a 25 - basis - point rate hike this week has risen to 73%, and the 10 - year bond yield is approaching 5% [1] - Japan officially confirmed no actual intervention in the foreign - exchange market in January. The future of the yen is uncertain as the US denies coordinated action, and Japan may face stronger intervention pressure after the election [1] Global Economic Logic - Bridgewater's Dalio warns that the US is at risk of civil war, and investors should be aware of capital - control risks [2] - The expected balance - sheet reduction policy of Fed nominee chair Wash has a strong negative impact on global equity and commodity assets [2] - Geopolitical actions by the US, such as seizing Venezuelan oil and attempting to buy Greenland, bring great uncertainty to the global economy [2] - Nomura says Fed - related uncertainties may peak from July to November 2026, potentially leading to a "flight from US assets" [2] - Goldman Sachs warns that the decline in Las Vegas gambling revenue is similar to the early warning signs before the 2008 financial crisis [2] - The US is adjusting its economic relationship with China and aiming to revive its economic autonomy [2] - The Fed's Beige Book shows a K - shaped consumer spending pattern, with high - income consumers maintaining spending while low - and middle - income families cut back [2] - TSMC's Q4 performance and 2026 revenue guidance signal the continuation of the AI boom [2] - Musk hopes to achieve full rocket reusability with Starship this year, which could reduce space - entry costs by 100 times to below $100 per pound [2] - The US's return to the Monroe Doctrine will have a profound impact on major asset classes [2] - Wash's proposed combination of rate cuts and balance - sheet reduction indicates a major shift in Fed policy, creating expectations of strong liquidity contraction for equity assets [2]

据彭博报道，甲骨文已于周一正式开启美元债券发行，预计发债规模在200亿至250亿美元之间。受融资路径进一步清晰的提振，甲骨文股价在美 股盘前交易中一度涨超3%，市场对该公司解决资本支出资金来源的担忧暂时得到缓解。 根据声明，甲骨文计划通过单次债券发行筹集本年度所需的一半资金，并承诺年内不再发行额外票据，剩余资金缺口将通过股权相关工具及普通 股发行填补。评级机构惠誉已确认甲骨文的长期发行人违约评级为BBB。 然而，这一举动也将其资产负债表置于聚光灯下。作为除金融板块外最大的企业债券发行人之一，甲骨文目前的未偿债务已高达约950亿美元。在 利率高企的背景下，如此大规模的举债扩张引发了华尔街对公司现金流压力及财务结构脆弱性的审视。 八部分发债锁定长期资金 据知情人士向彭博透露，此次债券发行将分为八个部分，期限从3年到40年不等。其中，期限最长的40年期债券的初步价格指引显示，其收益率将 较美国国债高出约2.25个百分点。 此次发行由美国银行、花旗集团、德意志银行、高盛集团、汇丰控股、摩根大通等华尔街大行负责管理。 为了抢占人工智能算力的高地，软件巨头甲骨文正式启动了规模宏大的融资计划，拟通过债券和股权组合筹集最高达 ...

转载请注明央视财经 编辑：令文芳 （央视财经《天下财经》）当地时间2月1日，美国甲骨文公司宣布，将在今年募集至多500亿美元资金，用于扩建云基础设施。 甲骨文公司宣布，计划于2026年采用股权与债务并行的方式，募集450亿至500亿美元资金，主要用于扩充云基础设施的配套产能，以满足核心客户的合约需 求。此前，甲骨文已与包括超威半导体、Meta、英伟达、OpenAI等在内的头部科技公司签订了服务合约。为履行这些合约，公司亟需扩大产能。甲骨文拟 通过发行与股权挂钩的证券及普通股的方式，募集约半数资金，相关工具包括强制可转换优先股，以及一项规模最高达200亿美元的新增市价发行股权计 划。剩余半数资金通过发行优先无担保债券募集。 据报道，由于市场对甲骨文公司的募资能力担忧加剧，多家美国银行已明确停止向其人工智能数据中心项目提供贷款，为缓解融资困境，甲骨文公司计划裁 员2万至3万人，此举预计将释放80亿至100亿美元的现金流。不仅如此，甲骨文还在考虑出售部分业务。 ...

AI基建的烧钱大战仍在持续，老牌科技巨头甲骨文正试图通过新一轮巨额融资破局。 当地时间2月1日，甲骨文宣布2026年将通过债务与股权结合的方式募资450亿至500亿美元，专项用于扩 建云基础设施产能。 这一融资计划出台之时，甲骨文正深陷债务高企、融资渠道收窄的困境，市场对其信心正趋于崩塌。 自2025年9月创下历史高点之后，截至1月30号，甲骨文股价已下跌超47%。 疯狂加码 此次融资方案已获甲骨文董事会批准，主要采用"债权+股权"搭配的多元融资策略。 具体来看，公司计划通过股权关联工具和普通股发行（包括强制可转换优先股）以及一项规模至高达 200亿美元的ATM股票发行计划筹集约半数资金；剩余半数资金则拟于2026年初通过单次债券发行完成 募集。 而除了OpenAI之外，甲骨文还承接了Meta、英伟达等巨头的数据中心业务，总剩余履约义务高达5230 亿美元。 通过绑定AI产业链核心玩家，甲骨文试图在云基础设施领域弯道超车，完成从传统软件商向云基础设 施提供商的转型。 断臂求生 甲骨文在声明中明确，所有募集资金将全部用于云基础设施产能扩建，核心目标是满足OCI客户的已签 约需求。 客户名单涵盖AI产业链关键玩家 ...

格隆汇2月2日｜甲骨文公司当地时间周日宣布，计划在2026年通过债务和股权融资相结合的方式筹集 450亿至500亿美元，以扩建其云基础设施产能。该公司在一份声明中表示："甲骨文正在筹集资金以扩 充产能，以满足我们最大的云基础设施客户的合同需求，这些客户包括 AMD、Meta、NVIDIA、 OpenAI、TikTok、xAI 等。"该公司计划通过股权挂钩工具和普通股发行（包括强制可转换优先股）以 及一项规模至高达200亿美元的ATM股票发行计划，筹集目标金额的一半资金。甲骨文表示，计划于 2026年初通过单次债券发行筹集剩余资金。 来源：格隆汇APP ...