隔夜股市 全球主要指数周三涨跌互现，美股三大指数连续第二个交易日集体收跌。 商品市场 | 标的 | 周三涨跌 | | --- | --- | | NYMEX WTI原油 | 2.49% | | ICE布伦特原油 | 2.48% | | COMEX黄金 | -1.24% | | COMEX自银 | -1.11% | | NYMEX知念 | -1.50% | | NYMEX天然气 | 0.32% | | LME铜 | 3.46% | | LME铝 | 0.63% | | LME锌 | 1.18% | | LME铝 | 0.04% | | LME镇 | 0.53% | | CBOT小麦 | -0.19% | | CBOT大学 | -0.35% | WTI原油期货收涨2.49%，报64.99美元/桶。 布伦特原油期货收涨2.48%，报69.31美元/桶。 | 标的 | 周三涨跌 | | --- | --- | | First Fri | 0.83% | | 深证成指 | 1.80% | | 恒生指数 | 1.37% | | 日经225指数 | 0.30% | | EEEKOSPI | -0.40% | | 在EDAX ...

据报道，OpenAI正与英伟达(NVDA.US)探讨租赁人工智能芯片的可行性，旨在降低双方大规模新数据 中心合作中的成本压力。 这一租赁合作的背景可追溯至英伟达近日公布的战略计划：其拟逐步向微软支持的OpenAI投资高达 1000亿美元，用于依托英伟达系统建设并部署至少10千兆瓦规模的AI数据中心。其中，项目第一阶段 预计将于2026年下半年启动，采用英伟达的Vera Rubin平台进行部署。 "若受限于算力规模，我们不得不被迫在诸多重要应用间做选择，而无人愿见此景，故当全力突破限 制。"他进一步展望，未来或将建立每周新增1GW AI基础设施的产能，以持续扩容算力。 目前，这家由Sam Altman领导的ChatGPT开发商已从微软(MSFT.US)和甲骨文(ORCL.US)等云服务提供 商处租赁英伟达芯片，而本次与英伟达直接合作的新租赁协议或将设定五年期限，与OpenAI当前和甲 骨文的租赁协议周期相近。 Altman补充表示，未来数月将披露更多计划细节及合作伙伴信息。他特别指出，"今年晚些时候，我们 将分享具体融资方案;鉴于算力扩张直接关联收入增长，我们有一些有趣的新想法。" 针对这一耗资巨大的项目，Al ...

Group 1 - The total market value of Nvidia approaches $4.5 trillion following a significant investment commitment of up to $100 billion from Nvidia to OpenAI, marking Nvidia's largest investment to date [15][16] - The stock price of Nvidia surged nearly 4%, reaching a historical high due to the positive news surrounding the partnership with OpenAI [15] - OpenAI is reportedly seeking to lease rather than purchase Nvidia's AI chips as part of their collaboration [16] Group 2 - The Shanghai Green捷 company is under investigation for allegedly concealing food safety information, with relevant personnel being controlled by law enforcement [5][6] - The company has publicly apologized to affected students and parents and is cooperating with authorities [6] - The incident involved the discovery of insects in shrimp delivered to a school, leading to a cover-up regarding the true nature of the issue [5] Group 3 - BOSS Zhipin has banned 2,000 accounts as part of a crackdown on inappropriate job postings and sexual harassment in recruitment [3] - The platform has initiated a reporting mechanism for companies involved in serious violations, ensuring accountability [3] Group 4 - McDonald's China plans to invest over 400 million yuan in talent training and development over the next three years, focusing on upgrading its Hamburger University [17] - The initiative aims to incorporate AI tools and personalized learning paths to enhance training for nearly 10,000 trainees [17] Group 5 - Xiaomi's new series, the Xiaomi 17, is fully compatible with the 100W PPS universal charging protocol, marking a significant update in their product line [8] - The company emphasizes the "epic update" of the Xiaomi 17 series, showcasing advancements in charging technology [8]

Group 1: Green Bonds Market - In the week from September 8 to September 12, 2025, a total of 23 green bonds were issued in the interbank and exchange markets, with a total issuance scale of approximately 20.052 billion yuan, an increase of 11.285 billion yuan compared to the previous week [1] - The total trading volume of green bonds in the secondary market for the same week was 50.9 billion yuan, which is an increase of 2.7 billion yuan from the previous week [1] - The top three types of bonds traded were non-financial corporate credit bonds, financial institution bonds, and interest rate bonds, with trading volumes of 24.4 billion yuan, 18.5 billion yuan, and 6.7 billion yuan respectively [1] Group 2: Semiconductor Equipment Industry - Huawei announced its three-year development roadmap for the Ascend AI chip at the Shanghai Connect Conference, planning to launch four new products from 2026 to 2028 and introduced self-developed HBM technology and ultra-node interconnect solutions [1] - The domestic computing chip market share is expected to rise rapidly as Chinese internet regulators have instructed major tech companies to stop purchasing all AI chips from NVIDIA and terminate existing orders [2] - The demand for advanced packaging in computing chips is beneficial for equipment manufacturers, as training cards were previously solely supplied by NVIDIA, while inference cards can be produced with strong cost performance on domestic 12nm process platforms [2] Group 3: Saudi Aramco Projects - Saudi Aramco plans to execute 85 major projects over the next three years, covering oil and gas production, pipeline networks, and civil infrastructure [2] - The oil and petrochemical sectors will play a significant role, with 20 projects focused on upgrading oil, gas, and refining facilities, particularly in sulfur recovery systems, gas field compression systems, and refining installations [2] - The procurement list for these projects includes 21,000 kilometers of carbon steel pipelines, 2.2 million tons of structural steel, 41,000 kilometers of cables, and 1,700 kilometers of power transmission lines [2] Group 4: Capital Expenditure Guidance - Saudi Aramco's capital expenditure guidance for 2025 remains in the range of 52 billion to 58 billion USD, representing a year-on-year growth of 3% to 15% [3] - The continued growth in capital expenditure indicates sustainable demand for oil service equipment, benefiting leading companies with technological advantages and market access [3]

【文/观察者网 熊超然】去年12月9日，中方监管部门因英伟达涉嫌违反反垄断法而依法对其开展立案调查。时隔 近一年，9月15日，中方监管部门再度发布声明称，英伟达违反反垄断法，依法决定实施进一步调查。 路透社当天报道称，中方最新声明给英伟达在华业务带来了更多不确定性，中国市场去年占其总销售额的13%。 而在压力之下，9月15日，英伟达股价在美股盘前直线下挫，跌幅一度扩大至2.4%，盘中也下跌近2%，随后有所 回吐。 结合地缘政治形势，路透社分析认为，在过去六个月里，中美两国相互交锋。美国总统特朗普对中国滥施畸高关 税，后又将关税下调，同时还以炒作TikTok问题相威胁。而中国则在关税层面立即予以反制，并发起对包括谷歌 母公司Alphabet在内的多项反垄断调查，显示出对美国企业加强监管的信号。 咨询公司Plenum的合伙人薄正元（Zhengyuan Bo，音译）表示："这是一个警告，如果美国的出口管制模式仍继续 像过去几年一样运作，就将产生后果，中国会不惜对美国公司出手。"他补充称，就在中方发布对英伟达的初步裁 定前，特朗普政府当地时间9月12日又宣布将多家中国实体列入出口管制"实体清单"。 《纽约时报》援引为 ...

Core Points - The U.S. Department of Commerce's Bureau of Industry and Security is facing its most severe export license backlog in nearly 30 years, with thousands of applications, including those for high-value products like NVIDIA's AI chips, pending approval [1][2] - The backlog is attributed to internal management issues within the Bureau, which has failed to issue new regulations and has restricted communication with industry representatives, leading to a decline in efficiency and loss of expertise [1][3] Group 1: Export License Backlog - The current backlog of export license applications is the worst in over 30 years, with an average processing time of 38 days for each application in fiscal year 2023, totaling 37,943 applications processed and a rejection rate of 2% [2] - Delays in license approvals are putting U.S. companies at a competitive disadvantage globally, raising concerns among those advocating for stricter export controls and companies seeking overseas sales opportunities [1][2] Group 2: Management Issues - Jeffrey Kessler, the Deputy Secretary of the Bureau, has been criticized for micromanaging and lacking effective communication, which has further hampered the Bureau's operations [3] - Restrictions on communication with industry representatives and the requirement for meeting records have negatively impacted the Bureau's efficiency [3] Group 3: Regulatory Delays - The Bureau has delayed implementing regulatory changes, including the withdrawal and replacement of restrictions on AI chip exports, which were announced in May but have yet to be acted upon [3][4] - Other proposed rules, such as extending export restrictions to subsidiaries of companies already banned from receiving U.S. controlled exports, have also not been released [4]

Group 1 - Nvidia's CEO Jensen Huang will hold a media briefing in Beijing on July 16, 2023, as part of the company's participation in the third China International Supply Chain Promotion Expo [1][2] - Two U.S. senators have urged Huang not to meet with companies that allegedly violate U.S. chip export controls during his visit to China [2] - Nvidia is expected to launch a new version of its AI chip tailored for the Chinese market as early as September 2023 [3] Group 2 - The launch of the new generation Haiguang C86 processor marks a significant step in the domestic terminal's full-scene replacement strategy, with over ten mainstream manufacturers introducing dozens of C86 terminal products [4] - The year 2025 is pivotal for the domestic terminal market, transitioning from policy-driven to market-driven, with a focus on comprehensive promotion across various industries [5] - The core demand from domestic terminal users has evolved from "usable" to "truly replaceable and user-friendly," necessitating improvements in key product areas to enhance terminal deployment capabilities [6] Group 3 - The C86 processor has shown significant performance improvements, with mobile workstation products achieving a 62% increase in single-core performance and a 135% increase in multi-core performance compared to the previous generation [8] - The C86 processor includes advanced security features, such as an embedded cryptographic co-processor, ensuring high performance and security without compromising core computing resources [8] - Major manufacturers like Lenovo, Unisoc, and ZTE have launched numerous C86-based products, addressing diverse market needs from daily office tasks to professional creative work [8] Group 4 - The success of domestic terminals in various industry applications relies on collaboration among software and hardware ecosystem participants [9] - Haiguang has initiated the "Xinghai Plan" to enhance collaboration with ecosystem partners, aiming to integrate resources across business, technology, and market domains [10] - The domestic C86 ecosystem has entered a phase of scale development, with over 5,000 partners working together on technology innovation and market expansion [10] Group 5 - The new generation C86 terminal aims to meet the "truly replaceable and user-friendly" demand, providing a reliable domestic office foundation for various industries [11]

Group 1 - UK car production in May fell sharply by 32.8% year-on-year to 49,810 units, marking the lowest level for the month in over 70 years, excluding the pandemic year of 2020 [1] - The family of Li Shufu expands its listing portfolio with the IPO of Fengwo Technology, where Li Shufu's children hold a combined 65.81% stake [2][3] - Tencent's free FPS game "Delta Action" is set to launch on PS5 and Xbox on August 19, having previously been released on PC and mobile [4] Group 2 - The Economic Daily highlights the issue of counterfeit products in the trendy toy market, emphasizing the need for a robust intellectual property protection system to safeguard original designs [5][6] - Neuralink, led by Elon Musk, reports significant progress in brain-machine interface technology, with seven participants now involved in trials [6][7] - Meta's CEO Mark Zuckerberg recruits four prominent AI researchers from OpenAI to strengthen its superintelligence team [8] Group 3 - The first domestic 3V3 AI robot football match concluded with Tsinghua's Huoshen team winning the championship [9] - Warren Buffett announced a donation of $6 billion in Berkshire Hathaway stock, bringing his total charitable contributions to over $60 billion [10] - Gree Electric announced a special fund to provide a high-temperature subsidy of 20 yuan per installation for its air conditioning engineers [11] Group 4 - The graphics card rental market is experiencing a downturn, with prices halved compared to the peak earlier this year, leading to challenges for many companies in the sector [12][13] - NVIDIA executives have sold over $1 billion in company stock in the past year, capitalizing on the surge in AI investment [14] - Xiaomi's public relations manager stated that the delivery times for its cars will be dynamically updated based on order volume and production capacity [15]

Core Viewpoint - The Malaysian government is verifying reports regarding a Chinese company using servers equipped with NVIDIA AI chips in Malaysia to train large language models, while ensuring compliance with domestic laws and international trade regulations [1][2]. Group 1: Government Actions and Regulations - The Ministry of Investment, Trade and Industry of Malaysia is currently checking whether the use of NVIDIA chips violates any local laws or regulations [1]. - The ministry stated that servers using NVIDIA or AI chips are not classified as controlled items under the 2010 Strategic Trade Act of Malaysia [1]. - Malaysia opposes any evasion of export controls or illegal trade activities and will continue to enforce international trade regulations [1]. Group 2: Context of AI Chip Usage - A Chinese AI company reportedly rented 300 servers equipped with advanced NVIDIA chips in a Malaysian data center to input data for training AI models, which were then brought back to China [2]. - Since 2022, the U.S. has increased restrictions on the export of advanced AI chips to China, citing national security concerns [2]. - The Biden administration had previously proposed limiting the sale of advanced chips to Southeast Asia and the Middle East to prevent Chinese companies from acquiring these chips through third parties [2].

Market Overview - The Shanghai Composite Index is currently at 3348.37, down by 31.82 points or 0.94% [2] - The Shenzhen Component Index is at 10132.41, down by 87.21 points or 0.85% [2] - The Hang Seng Index is at 23601.26, down by 24.07 points or 1.18% [2] - The NASDAQ is at 18737.21, down by 188.52 points or 1% [2] - The S&P 500 is at 5802.82, down by 39.19 points or 0.67% [2] - The DAX30 is at 23629.58, down by 369.59 points or 1.54% [2] Trade Negotiations - President Trump has agreed to extend the trade negotiation window with the EU to July 9, following a request from the EU [2] - The EU is prepared to advance trade talks quickly and decisively, contingent on Trump's return to the original 90-day negotiation period [2] Energy Sector - The U.S. Environmental Protection Agency is drafting a plan to remove greenhouse gas emission limits for coal and gas power plants [5] - This move follows President Trump's recent executive order aimed at boosting nuclear power development [5] Technology Sector - NVIDIA plans to launch a new AI chip specifically for the Chinese market, with production expected to start in June [8] - The new chip will be priced between $6,500 and $8,000, significantly lower than the previous model's price range of $10,000 to $12,000 [8] Investment Proposals - Masayoshi Son of SoftBank has proposed the establishment of a U.S.-Japan sovereign wealth fund aimed at large-scale investments in technology and infrastructure [10] - The fund may require approximately $300 billion in initial capital and high leverage to operate effectively [10]