当地时间2月4日，谷歌母公司Alphabet公布2025年第四季度财报，当季营收达到1138.28亿美元，同比增 长18%，超出市场此前预估的1114亿美元。 财报显示，旗下核心业务板块保持稳健增长态势：谷歌服务板块收入958.6亿美元，同比增长14%；谷 歌云业务表现亮眼，收入达176.6亿美元，同比大涨48%，超出市场预期。同时，AI大模型Gemini用户 规模持续扩张，第四季度月活跃用户数突破7.5亿，较上一季度的6.5亿实现显著增长。 Alphabet同步披露2026年资本支出指引，预计全年资本支出将在1750亿至1850亿美元之间，这一规模几 乎是2025年全年资本支出的两倍，远超市场此前预期的1195亿美元。该笔资金将主要用于AI基础设施 搭建，覆盖数据中心扩建、专用AI芯片研发及部署等相关投入，以支撑AI业务及云服务的持续扩张需 求。 市场有风险，投资需谨慎。本文基于第三方数据整理生成，仅供参考，不构成任何投资建议。 本文源自：市场资讯 作者：观察君 ...

Group 1: Market Overview - The US stock market exhibited a mixed performance, with the Dow Jones Industrial Average down 0.25%, the Nasdaq Composite up 0.31%, and the S&P 500 closing flat [1] - Nvidia's stock surged over 4%, leading to a market capitalization increase of $156 billion (approximately 1.12 trillion RMB), reclaiming its position as the world's most valuable company at $3.77 trillion [1][2] - Chinese concept stocks showed significant divergence, with the Nasdaq Golden Dragon China Index down 0.6%, while stocks like Futu Holdings and ZTO Express saw gains [1][3] Group 2: Nvidia's Performance - Nvidia's stock rose 4.35%, reaching a historical high, driven by strong earnings and CEO Jensen Huang's strategic outlook [2] - Huang highlighted robotics as the next trillion-dollar market for Nvidia, with autonomous vehicles being the first commercial application [2][5] - Nvidia's data center revenue surged 427% year-over-year, indicating robust demand for AI chips [2] Group 3: Chinese Concept Stocks - Chinese tech stocks faced collective declines, with major players like Alibaba and BYD dropping over 2% [3] - Despite the downturn, some Chinese stocks like Futu Holdings and JD.com showed resilience, with Futu's growth attributed to its cross-border financial services [3] - The divergence in Chinese stocks reflects complex investor expectations regarding the US-China tech competition [3] Group 4: Other Tech Stocks - Tesla's stock fell 3.1%, marking its largest single-day drop in nearly a month, influenced by slowing delivery growth and regulatory challenges in autonomous driving [4] - In contrast, Google and Microsoft saw slight increases, with Google reaching a historical high due to the successful commercialization of its AI model Gemini [4] Group 5: Future Outlook - The ongoing divergence in tech stocks is expected to continue, with AI leaders like Nvidia and Google likely to benefit from technological advancements [8] - The robotics sector may become a new focal point in the market, especially following Huang's "robot blueprint" announcement [8] - Investors should remain cautious of geopolitical risks and regulatory changes affecting Chinese tech stocks, while long-term innovation and market demand will support their valuations [8]