We are working with Meta and their new wearable device access toolkit to enable streamers to go live hands-free directly from their AI classes. In the next few months, we'll be adding support for these devices to the Twitch mobile app. So, a number of thirdparty apps are also working on add adding Meta AI classes functionality, including Streamlabs and unlimited IRL, giving streamers even more options to broadcast on the go.We've always supported the ability to go live for mobile, but we know there's room f ...

Group 1: Market Overview - Regional bank stocks are under pressure due to increasing credit concerns, leading to a broader market decline with S&P futures down 0.6% and MSCI Asia Pacific down 0.9% [1][2][3] - Speculation exists that the regional banking issues could prompt the Federal Reserve to cut interest rates sooner than expected, which may provide some cushion to equities [4][8] - The banking sector is experiencing a wider slide, with significant concerns about lending practices and exposure to distressed commercial real estate, particularly in California [5][40] Group 2: Company-Specific Developments - BBVA's takeover bid for Sabadell has failed, with only 25.47% shareholder acceptance, significantly below the required threshold [16][17] - The failure of the bid allows BBVA to focus on its standalone growth strategy, which includes a strategic plan aiming for a 15% annual increase in tangible value and a net profit growth rate of 30% [24][26] - BBVA plans to initiate a €1 billion share buyback and pay an interim dividend, amounting to €2.8 billion in total shareholder returns [27][28] Group 3: Sector Impacts - Defense stocks are expected to decline sharply following news of a meeting between Donald Trump and Vladimir Putin, which may signal reduced military spending [9][11] - The broader banking sector is facing scrutiny, with major banks like JPMorgan warning of potential credit issues, reflecting concerns about the overall health of the U.S. economy [6][79] - The market is reacting to the potential for increased volatility in the tech sector, with companies like NVIDIA and Oracle showing resilience despite the broader market downturn [8][78]

I think that context is really important, right. The evolution from Orion to this halfway point. Um, but my question to start is who is this targeted at, right.You have generations of prior prior generation metarban wearers or is this a new entry people starting from scratch. I think it'll probably be some combination of both. Uh, so just because we're talking about it here, these are the uh metarban displays.You can see we've worked with RayBan to get them into the form factor that people are comfortable w ...

They have a lot on their plate right now to shift a new generation of handset of smartphone. But have you modeled for the idea that they enter a new category, the smart glass away from augmented and VR. No, not yet.And then we have to see what it is. We have to see what kind of potential reception it's going to be. I think Metta has a massive lead here.So, you know, you just can't say enough just because it's an Apple product that it's going to do well. I think it's going to be you have to see the details. ...

Core Insights - Global annual TV shipments are expected to see minimal growth over the next five years, with a projected increase of only 0.4% CAGR from 209 million units in 2025 to 211 million in 2029 [3] - The ultra-large TV segment (80 inches and above) is forecasted to grow significantly, with shipments rising by 44% from 9 million units in 2025 to over 13 million by 2029, representing a CAGR of 10% [4][5] Market Dynamics - The decline in prices for ultra-large LCD TVs, along with advancements in backlight technology, is driving the growth of the ultra-large TV segment [1][5] - China and North America are expected to dominate the demand for ultra-large TVs, accounting for 54% and 28% of the volume, respectively, by 2029 [4] Technology Trends - Mini LED technology is anticipated to be a core growth area, with annual shipments projected to increase from 12 million in 2025 to 17 million in 2029, reflecting a CAGR of 9% [5] - RGB mini LED technology, introduced by brands like Hisense and Samsung, is expected to expand as more manufacturers adopt it from 2026 onward [5][6] Consumer Accessibility - The significant reduction in prices for ultra-large TVs is making this premium category more accessible to a broader consumer base [2][5] - The shift in pricing dynamics is attributed to manufacturing efficiencies and Chinese brands focusing on market share over profitability in the premium segment [5]

Ranjan Roy from Margins is back for our weekly discussion of the latest tech news. We cover: 1) OpenAI tells us how people use ChatGPT 2) Practical guidance is the top use of ChatGPT 3) Is generative AI actually a threat to search given the use cases? 4) OpenAI has a very broad definition of 'doing' or agent work 5) The hidden impact of AI 'decision support' in the economy 6) People trust AI bots massively - is that bad? 7) ChatGPT's massive growth 8) Anthropic shares Claude's economic uses 9) Automation is ...

I think that context is really important, right. The evolution from Orion to this halfway point. But my question to start is, who is this targeted at.Right. You have generations of prior prior generation, better Ray-Ban wearers. Or is this a new entry.People starting from scratch. I think it'll probably be some combination of both. So just because we're talking about it here, these are the matter.Ray-Ban is you can see we've worked with Ray-Ban to get them into the form factor that people are comfortable we ...

Summary of Storage Industry Conference Call Industry Overview - The storage industry is benefiting from rapid growth in AI, cloud, and end-user demand, with significant increases in consumer demand and stable enterprise demand, leading to an expected substantial increase in overall profit margins in the second half of the year [1][2][3] - Structural changes in supply, such as HBM occupying capacity leading to DDR4 production halts, and a significant price increase of low-power DDR by approximately 150%, indicate a shift in market supply-demand dynamics [1][3][4] Key Insights and Arguments - Domestic storage companies are actively developing main control chips and transitioning from consumer markets to enterprise markets, while memory chip companies are advancing towards 3D DRAM, indicating a profound change in the competitive landscape [1][4][5] - The storage market is expected to have greater sustainability and elasticity in 2025 compared to 2024, with a notable increase in investor interest [1][6] - Recent price increases by SanDisk and Micron are driven by rising storage demand in AI applications, data centers, client devices, and mobile sectors, signaling an upward price trend in the storage market [1][8] Price Trends and Demand Changes - Storage prices in Q3 are significantly higher than in Q2, indicating a strong profit margin for storage companies in the second half of the year [2] - The demand for consumer-grade storage has shown notable growth in 2025, with mobile memory increasing from 4GB to 16GB and new Apple video devices starting at 256GB [3] - The second half of the year is expected to see price increases for NAND and DDR4 driven by changes in industry demand, with traditional consumer replenishment needs and AI high-performance storage demands contributing to this trend [1][9] Investment Opportunities - Investment opportunities in the storage sector are concentrated on new demand growth, particularly in edge AI applications (e.g., AI glasses) and the domestic replacement of enterprise storage [1][10] - The market for AI glasses is expected to see explosive growth, with significant storage module value, while the enterprise storage market is projected to increase its domestic production rate from 20% to 50%, creating a market space worth hundreds of billions [10] Additional Important Points - The storage industry's valuation is typically forecasted based on historical peaks, with this cycle expected to outperform 2024 but likely not reach 2021 levels [7] - The price increases in the second half of the year are supported by strong demand from cloud service providers and the need for higher capacity in AI training and inference stages [9]

Investment Rating - The report assigns a "Buy" rating to several companies including Sunny Optical, Q Tech, Lens Tech, and Kingdee [1][17]. Core Insights - The report highlights significant advancements in technology and product offerings within the China Technology and Telecom (TMT) sector, particularly in smartphone and AI applications [1]. - There is a promising outlook for AI Glasses, handheld cameras, sports smartwatches, and humanoid robots, indicating potential growth areas for investment [1]. - The report notes that more SaaS companies are expected to reach breakeven or profitability by 2025, with Kingdee targeting double-digit revenue growth [1][13]. Summary by Relevant Sections Smartphone/PC - Sunny Optical anticipates over 500% year-on-year growth in its miniature CCM products, despite challenges in the domestic market [2]. - Q Tech's periscope solution is expected to see widespread adoption among Android brands, with significant growth in ultrasonic FPM mix anticipated in the second half of 2025 [2]. iOS Developments - Lens Tech is set to provide upgraded back cover glass for new iPhone models, with significant ASP growth expected [3]. - Lingyi iTech's content value in the Pro Max model is projected to increase by approximately 20% in the second half of 2025 compared to the previous model [3]. AI and Wearables - The report discusses ongoing development challenges for smart glasses, with a focus on chipset and battery life improvements [8]. - Sunny is optimistic about the demand for handheld cameras, while Zepp operates across three product lines in the smartwatch market [9]. Automotive Sector - Sunny anticipates increased camera adoption in vehicles, with the average number of cameras per vehicle rising to 4.3 from 3.5 in 2024 [11]. - The company has allocated Rmb1.5 billion for LiDAR projects, which are expected to contribute significantly in the coming years [11]. Robotics - Lens Tech aims to supply 1,000 to 2,000 units of humanoid robots in 2025, with rapid revenue growth expected in this segment [12]. SaaS Sector - Kingdee is maintaining its break-even target for 2025, with expectations of double-digit revenue growth [13]. - MYC anticipates a narrowing year-on-year decline in revenue for the second half of 2025, with property management revenue expected to grow faster due to larger orders [13][15].

Investment Rating - The report rates the electronic industry as "stronger than the market" [1] Core Insights - The integrated circuit manufacturing sector continues to be strong, leading the electronic industry with a weekly increase of 4.61%, outperforming the CSI 300 index which increased by 1.95% [2] - The AI Glasses market is experiencing explosive growth, with global sales expected to reach 2.34 million units in 2024, a year-on-year increase of 588.2%, and projected to reach 90 million units by 2030, with a CAGR of 83.7% [6][13] - Xiaomi's AI Glasses, launched on June 26, 2025, are positioned as a new entry point in the smart wearable market, featuring advanced AI capabilities and lightweight design [5][20] Summary by Sections 1. AI Glasses Overview - AI Glasses are smart wearable devices that integrate AI technology for enhanced reality experiences and personalized services [8] - The market is characterized by a focus on lightweight design and scenario-based functionality, differentiating from AR, VR, and XR devices [11] 2. Global AI Glasses Market Growth - The global AI Glasses market is projected to grow significantly, with Ray Ban Meta expected to capture over 90% of the market share by Q4 2024 [6][13] - Competition is intensifying between international brands like Meta and domestic manufacturers focusing on localized scenarios [16] 3. Performance Comparison of Xiaomi AI Glasses - Xiaomi's AI Glasses feature a Qualcomm Snapdragon AR1 dual-core architecture, weighing 40g, and a battery capacity of 263mAh, outperforming competitors in several key specifications [20][21] - The AI functionality of Xiaomi's product is enhanced through localized semantic understanding, differentiating it from Ray Ban's offerings [20] 4. Investment Recommendations - The report suggests investors focus on upstream suppliers related to AI Glasses, specifically Tianyue Advanced and Kangnate Optical, which are key players in the supply chain [22][23]