当国内三大外卖平台正面"硬刚"的时候，泰国的年轻人一到饭点，也拿起手机熟练地比对着Grab和 Lineman上的配送费，不消半小时，身穿绿色或粉色衣服的外卖员就送餐到门。游客无论在曼谷还是郊 区，Grab或Bolt上都总能约上网约车，乃至摩的和突突车。网上支付还是现金交易，都能任君选择。 "东南亚从网络基础设施，到互联网平台、移动支付、云端架构，都是紧跟中国步伐的。大家在使用习 惯上都很接近，尤其是疫情之后这几年，C端用户都习惯了无现金化、高度依赖手机，大家玩的游戏、 对内容的偏好，和国内也是高度趋同的。"腾讯云国际副总裁兼东南亚地区总经理陈锐告诉21世纪经济 报道记者。 十几年间，陈锐先是投身东南亚通信网络的建设，后又自己搭团队开发当地的移动支付平台，再到带领 腾讯云出海东南亚，他是资深的"东南亚通"，也一直见证着这片土地的数字化进程。 几年前，国产云厂商的出海都是跟随式的——中企走出去，相应也需要数据存储、云计算这些互联 网"水电"基础设施。在这一阶段，腾讯云、阿里云、华为云也就跟着生态伙伴踏上出海征程。至于海外 的本土客户，则基本是亚马逊、微软、谷歌这些传统美国大厂的天下。 不过，这几年东南亚掀起的数字 ...

各大品牌为了更有力地掌控自身品牌叙事，纷纷对 "故事讲述" 相关技能人才求贤若渴 —— 这与围坐在篝火 旁讲故事的传统场景相去甚远。 导语：各大品牌为了更有力地掌控自身品牌叙事，纷纷对"故事讲述" 相关技能人才求贤若渴 —— 这 与围坐在篝火旁讲故事的传统场景相去甚远。 在美国企业界，目前最热门的职业之一，其实也是历史上存在最久的一种职业——故事讲述者。 有些企业口中的 "故事讲述者"，不过是 "媒体关系经理" 的花哨别称；另一些企业则需要这类人 才撰写博客、制作播客、打造案例研究等各类品牌内容，以此吸引客户、投资者和潜在员工。但 无论是哪种情况，企业对 "故事讲述者" 一词的定义，都与小说家、剧作家和擅长即兴讲述的人 所对应的传统概念大相径庭。 谷歌上个月发布的一则招聘广告中写道： "作为故事讲述者，我们在推动客户获取与长期业务增 长方面发挥着不可或缺的作用。" 该招聘旨在为谷歌云故事内容团队招募一名客户故事内容经理。该团队今年发布的一篇文章标题 为《劳氏的创新之路：云端人工智能开发平台如何助力打造交互式购物体验》。 新篇章 职场社交平台领英的数据显示，在截至 11 月 26 日的一年里，美国招聘信息中包含 ...

据一份英伟达的内部文件显示，美国银行旗下的金融公司Capital One在与英伟达的一次科技会议上表达 了对云计算成本的担忧，尤其是亚马逊的云计算服务（AWS）。 Capital One看到了自己对GPU和推理模型需求的不断增长，因此认为其在AWS上的成本将很快失控。该 公司向英伟达表示，希望找到AWS的替代方案，因为该金融机构正在寻求控制成本。 根据文件内容，英伟达和Capital One讨论了人工智能工厂和新型云，前者是指企业自行搭建的内部数据 中心，后者则是新兴的云服务提供商，专注于人工智能工作负载。这两种方法都可以作为从第三方租用 计算资源的替代方案。 AWS是北美市场主要的云端服务提供者之一，支持了比新型云更广泛的计算需求，也是Capital One的重 要合作方。Capital One正在利用人工智能技术执行欺诈检测、客户支持和算法交易等任务。 针对这份内部文件，Capital One回应称，将继续致力于与AWS保持合作关系。AWS则指出，该公司的 定价理念是不断努力降低自身成本，并将节省下来的成本以更低的价格回馈给AWS的客户。 然而，Capital One也并非唯一一家对AWS费用提出担忧的公 ...

Core Viewpoint - Google is facing a "compute famine" despite its vast resources and plans to invest $91 to $93 billion in capital expenditures this year, leading to internal conflicts over chip allocation among various departments [1][25][26]. Group 1: Internal Dynamics and Resource Allocation - A new executive committee has been formed to decide how to allocate limited compute resources among Google Cloud, search, and DeepMind [2][13]. - The committee includes key figures such as Google Cloud CEO Thomas Kurian and DeepMind CEO Demis Hassabis, indicating a significant power restructuring within the company [4][8][13]. - The committee aims to simplify decision-making and ensure equitable distribution of resources among departments, which previously struggled to reach consensus [32][34]. Group 2: Strategic Importance of Compute Resources - The three core lifelines for Google are future AI development, growth through Google Cloud, and sustaining its extensive product matrix [15][20][22]. - Google Cloud is seen as a major growth engine that requires substantial compute power to serve clients and maintain expansion [20]. - The need for top-tier AI models necessitates vast compute resources for continuous iteration, making it critical for Google's competitive positioning [17][18]. Group 3: Financial Implications and Challenges - Despite plans for significant capital expenditure, the long lead times for building data centers and manufacturing chips mean that immediate relief from the compute shortage is unlikely [27][28]. - Google’s capital expenditure in 2023 was only $32 billion, which is considered conservative given the AI boom, contributing to the current compute challenges [29][30]. - CFO Anat Ashkenazi acknowledged that supply-demand imbalances are expected to persist into 2026, indicating ongoing challenges for the company [31]. Group 4: Execution-Level Dynamics - At the execution level, the focus shifts to immediate revenue generation, leading to prioritization of departments that can deliver the most profit [48]. - In DeepMind, resource allocation is complex, with some researchers enjoying privileges that allow them to access multiple compute pools, while others must navigate a more competitive environment [50][54]. - The grassroots level sees a culture of resource sharing and negotiation among researchers, turning compute power into a "hard currency" that relies on personal relationships and exchanges [57][59].

凤凰网科技讯 北京时间12月8日，据彭博社报道，华尔街对AI相关公司的看法正在发生变化，而这一切 都围绕两家公司展开：OpenAI受冷落，谷歌母公司Alphabet受追捧。 如今，OpenAI不再被视为AI技术的尖端代表，同时面临盈利能力不足的质疑，而且亟需快速扩张以应 对巨额开支。与此同时，Alphabet正凭借雄厚财力强势归来，其业务触角已延伸至AI产业的各个角落。 "今年早些时候，OpenAI还是市场宠儿，Alphabet则被冷眼看待，"第一富兰克林金融服务公司首席市场 策略师布雷特·尤因(Brett Ewing)表示，"现在，市场对OpenAI的热情已大幅降温。" 问题暴露 结果，处于OpenAI生态圈内的公司股价正承受巨大的抛售压力，主要涉及甲骨文、CoreWeave、 AMD，也包括持微软、英伟达及持股11%的软银集团。 然而，Alphabet的增长势头不仅提振了自身股价，也带动了与其关联企业的股价，如博通、Lumentum 控股公司、天弘科技以及TTM科技公司。 市场的这一转变在速度和幅度上都颇为剧烈。就在几周前，OpenAI还能带动任何与其相关的公司股价 大幅飙升。如今，这种关联反倒更像是一个 ...

Core Viewpoint - Investors are increasingly confident that Alphabet's chip business, particularly its Tensor Processing Unit (TPU), will become a significant growth engine for future revenue [1][6]. Group 1: TPU's Impact on Alphabet's Stock - The success of TPU has been a major reason for Alphabet's stock price soaring by 31% in the fourth quarter, ranking tenth among S&P 500 constituents [6]. - TPU is viewed internally as a core advantage that accelerates the growth of Alphabet's cloud computing business [6]. Group 2: Market Potential and Future Projections - The market is optimistic about Alphabet's potential to sell TPU to third parties, which could open a new revenue stream valued at nearly $1 trillion [6][8]. - Gil Luria from DA Davidson suggests that if Alphabet seriously pursues TPU sales, it could capture 20% of the AI market, potentially becoming a $900 billion business [8]. Group 3: Competitive Advantages of TPU - TPU is an application-specific integrated circuit (ASIC) designed for specific purposes, particularly to accelerate machine learning, offering lower costs compared to NVIDIA's chips [10]. - Mark Iong from Homestead Advisers highlights that while Alphabet may not control the entire market, its ASIC chips provide a unique advantage, making it a leading player in the market [11]. - Alphabet is recognized as the only company with a leading position across various AI domains, including Gemini, Google Cloud, and TPU, which provides it with significant competitive advantages [11].

Core Viewpoint - Amazon's recent earnings report exceeded expectations, leading to an initial stock price increase of approximately 11%. However, subsequent market changes resulted in a decline, with Amazon becoming the worst performer among the "Big Seven" tech giants this year and over the past year [3][4]. Market Performance - Amazon's stock price has changed by -4.50% since January 31, while other tech giants like Alphabet and Microsoft have seen increases of 13.59% and -4.98%, respectively [10]. - The overall market is facing challenges due to concerns over an "AI bubble," affecting the performance of tech stocks, including Amazon [7]. Macro Environment - The macroeconomic environment is unfavorable, with rising concerns about the AI bubble and a decreased likelihood of interest rate cuts in December, leading to a "sell first, ask questions later" mentality among investors [12]. - Despite these challenges, Amazon's core business, AWS, continues to grow at a double-digit rate, indicating that the company has not lost its competitive edge [12]. Analyst Insights - Analysts believe that the current market volatility presents a buying opportunity for Amazon, as the company is expected to rebound once market narratives around AI become more rational [12]. - Amazon's management plans to automate 600,000 jobs, which is anticipated to enhance profit margins and initiate a cycle of efficiency improvements that the market has not fully accounted for [12]. Cloud Services Collaboration - In November, Google and Amazon announced a partnership to launch a multi-cloud interconnect service, integrating AWS with Google Cloud, which simplifies the connection process for customers [13][14]. - This collaboration is seen as a significant change in the multi-cloud connectivity space, allowing AWS customers to utilize Google’s AI tools without fully migrating to Google Cloud [17]. Valuation Metrics - Amazon's forward P/E ratio stands at 33, which is lower than Nvidia's 38 and Tesla's 335, and is comparable to Microsoft and Google [18]. - The forward enterprise value/sales ratio for Amazon is 3.58, the lowest among its peers, indicating a potential undervaluation compared to Google (9.52) and Meta (8.22) [19]. - Analysts are confident that Amazon's stock price will achieve double-digit growth by the end of 2025, with further upside potential in 2026 [19].

Investment Rating - The report maintains a rating of "Outperform" for the computer sector [5] Core Insights - Alibaba is leveraging the Qwen large model foundation to comprehensively reshape its business and is accelerating the construction of B-end ecological barriers through an open-source strategy and strong performance [1][2] - The company is increasing capital expenditure to meet the surging demand for computing power, with cloud revenue continuing to grow significantly, validating the "infrastructure investment - technology iteration - commercial monetization" closed-loop logic [1][4] Summary by Sections Section 1: Alibaba's AI Layout - Alibaba has transitioned from a cloud-based service model to a comprehensive AI-driven approach, utilizing its self-developed "Flying" system to support internal and external business operations [10][11] - The company has established a solid technical foundation through its research institutions, including the Damo Academy and Tongyi Laboratory, to drive AI development [10][33] Section 2: Model Performance and Market Position - The Qwen series flagship model has rapidly iterated and is now among the top tier globally, with performance approaching that of leading overseas closed-source models [3][46] - Alibaba's open-source strategy has positioned it to capture market share in the domestic B-end market, building a strong user moat and ecological barrier [3][37] Section 3: Cloud Infrastructure and Revenue Growth - To address the explosive demand for AI computing power, Alibaba is increasing its infrastructure investments, achieving rapid revenue growth in AI-related products [4][76] - The company has developed self-research chips and a global data center network to ensure soft and hard resource coordination [4][76] Section 4: Investment Recommendations - The report suggests focusing on various players within the Alibaba ecosystem, particularly those involved in Pre-AI revenue generation and specific vertical AI applications [1] - Recommended companies include Fengwei Network, Kingdee International, and others in the AI coding and multimodal sectors [1]

Market Overview - Japanese and South Korean stock markets opened slightly higher on December 2, with the Nikkei 225 index rising by 0.39% and the KOSPI increasing by 0.48% [5] - International gold and silver prices strengthened, with spot silver reaching a new high, breaking above $58.8 per ounce, marking a year-to-date increase of over 100% [5] - The cryptocurrency market faced significant sell-offs, with nearly 270,000 investors liquidated in the last 24 hours, totaling $983 million in liquidations [5] Company News - Nvidia announced an expansion of its strategic partnership with EDA company Synopsys, investing $2 billion to purchase common stock, which led to a pre-market surge of over 11% in Synopsys' stock price, closing up 4.85% [7] - Amazon Web Services and Google Cloud launched a new service allowing customers to establish high-speed connections between the two cloud platforms in minutes, significantly reducing setup time compared to previous methods [7] International Macro - According to CME's FedWatch Tool, the probability of the Federal Reserve lowering interest rates by 25 basis points in December has risen to 87.6%, with a 12.4% chance of maintaining current rates [8] - The Bank of England's hawkish policymaker, Megan Greene, indicated that further weakening in the labor market is needed before she can support another rate cut, suggesting stability in employment and job vacancy data [8]

Market Overview - After a five-day rally, U.S. stock markets experienced a pullback with all three major indices closing lower. The S&P 500 index fell by 0.53% to 6812.63 points, the Nasdaq Composite dropped by 0.38% to 23275.92 points, and the Dow Jones Industrial Average decreased by 0.9% to 47289.33 points [1] - The decline in U.S. stocks is attributed to concerns over the valuation of technology giants, which ended their upward trend since April [3] Bond Market Impact - The Bank of Japan's hint at a potential interest rate hike led to a significant rise in Japanese two-year government bond yields, surpassing 1% for the first time since 2008. This triggered a jump in U.S. 10-year Treasury yields by nearly 8 basis points to 4.09%, marking the largest increase in over a month [3] - The instability in the bond market has negatively impacted risk assets, including cryptocurrencies, which saw Bitcoin drop from a low of $90,000 to $83,800 before recovering slightly [3] Cryptocurrency Market - The significant drop in cryptocurrency prices has been linked to the overall decline in U.S. stocks, highlighting the interconnectedness of crypto assets with other high-risk investments [5] - Strategy, a cryptocurrency-focused company, saw its stock drop over 11% intraday before closing down 3.25%. The company announced a $1.4 billion reserve allocation for future dividends and interest payments, raising concerns about potential asset liquidation if Bitcoin prices continue to fall [5] Notable Stock Performances - Among major stocks, Nvidia rose by 1.65%, Apple by 1.52%, while Google-A and Microsoft fell by 1.65% and 1.07% respectively. Other notable movements included Amazon up by 0.28% and Broadcom down by 4.19% [5] Chinese Tech Stocks - The Nasdaq China Golden Dragon Index rose by 0.87%, driven by Alibaba's strong performance, which increased by 4.42%. Other Chinese tech stocks like JD.com and Baidu also saw slight gains, while NIO and Li Auto experienced declines [6] Corporate Developments - Nvidia announced a strategic partnership expansion with Synopsys, investing $2 billion in the company, which led to a pre-market stock surge of over 11% [7] - Disney is recruiting an energy trader to manage electricity procurement for its Florida operations, indicating a strategic move in energy management [8] - Amazon Web Services and Google Cloud launched a new service for high-speed connections between their platforms, streamlining the process for clients [9] - Nvidia released an open-source AI model for autonomous vehicle development, enhancing its portfolio in AI technology [10] - Barrick Gold is considering a spin-off of its North American gold mining operations, which could enhance the valuation of its Nevada mines amid recent management changes and activist investor involvement [11]