东吴证券近日研报指出，近期海外市场持续担心美股AI泡沫叠加美国科技股龙头财报表现分化，例如 谷歌云计算及搜索业务超预期，印证了AI工具推动科技巨头广告业务份额提升的说法，但是对比来看 Meta，虽然营收好于预期，但是由于Capex显著加速，市场担忧未来利润受到一定侵蚀，映射到港股方 面，投资者对科技持观望态度。该行认为，尽管美国科技龙头会影响港股AI科技交易节奏，但从中长 期看当前港股科技点位有吸引力。考虑科技龙头内卷接近尾声，该行认为明年一季度港股EPS会边际回 升。 消息面上，市场对AI高估值担忧加剧，隔夜美股科技股出现抛售潮。据报道称，因电影《大空头》而 闻名的投资者Michael Burry正大举做空英伟达、Palantir，其针对这两只个股的看跌期权名义价值合计超 10亿美元，占到了公司投资组合权重的80%。在此之前，他曾向散户投资者发出了一则关于市场狂热的 隐晦警告。 AI概念股悉数走低，截至发稿，金山软件(03888)跌4.37%，报31.94港元；华虹半导体(01347)跌4.09%， 报72.7港元；阿里巴巴-W(09988)跌2.58%，报155.1港元。 ...

来源：环球网 针对此次监管动态，谷歌方面回应称，对CMA的认定及可能引发的监管措施表示关注，认为此类监管 举措若实施不当，有可能对英国本土的科技创新活力造成损害。（纯钧） 【环球网科技综合报道】10月11日消息，据路透社报道，英国竞争与市场管理局（CMA）近日正式确 认谷歌搜索业务在英国市场占据"战略性地位"。这是英国首次启用新监管机构对科技巨头展开专项评 估，标志着该国在规范大型科技企业市场行为方面迈出重要一步，也为后续可能实施的针对性监管干预 铺平道路。 CMA在评估报告中明确指出，谷歌在英国通用搜索领域拥有"显著且根深蒂固的市场主导地位"。数据 显示，长期以来，其他通用搜索引擎的市场规模与谷歌存在明显差距，即便存在微软必应等竞争对手， 过去15年间，尚无任何一款搜索引擎能在市场占有率上超越谷歌，这种市场格局的稳定性进一步凸显了 谷歌的领先优势。 值得注意的是，CMA强调此次"战略性地位"的认定，并不等同于判定谷歌存在违法行为，短期内也不 会对其施加新的运营要求。不过，这一评估结果为英国监管部门后续针对谷歌市场行为采取针对性干预 措施提供了关键法律依据。按照监管规划，未来相关部门可依据此次认定，进一步规范 ...

Core Viewpoint - The Trump administration is exerting pressure on other countries to relax regulations on American tech companies while maintaining a strong antitrust stance domestically against these giants [2][4]. Group 1: Antitrust Actions - A U.S. federal judge recently rejected the Department of Justice's request to break up Google's search business, but the DOJ plans to continue pursuing this case, indicating its historical significance [2][3]. - The DOJ and FTC have been actively identifying and proposing the removal of regulatory barriers that hinder competition, with a focus on various industries including technology [4][6]. - The Trump administration's antitrust enforcement is expected to continue, with a focus on labor market issues and stricter scrutiny of the tech sector [6][9]. Group 2: Regulatory Contradictions - The Trump administration's tough enforcement against tech giants contrasts with its broader policy of regulatory relaxation across multiple sectors [4][5]. - The administration has sought exemptions for U.S. multinational companies from international digital regulations, particularly criticizing the EU's Digital Services Act for its perceived restrictions on free speech [4][5]. Group 3: Tech Companies' Responses - Many tech leaders have shown support for Trump, hoping to benefit from regulatory rollbacks and government backing against foreign scrutiny [8]. - Despite showing a cooperative stance, major tech companies like Apple and Google are still facing significant antitrust lawsuits, indicating ongoing challenges in the regulatory landscape [9].

Group 1 - The core viewpoint of the article is that the measures taken by the U.S. to restore competition are effectively aimed at breaking up Google's search business [1] Group 2 - Google's CEO Sundar Pichai expressed concerns that the U.S. government's actions could lead to significant changes in the competitive landscape of the tech industry [1] - The article highlights the ongoing scrutiny and regulatory challenges faced by Google in the context of antitrust issues [1]