据近日消息，当地时间周二，Alphabet旗下的谷歌宣布发布其最新的人工智能(AI)模型Gemini 3，在与OpenAI等公 司的竞赛中加快追赶步伐。受此消息影响，谷歌A盘中股价爆拉3%。 Alphabet首席执行官桑达尔·皮查伊当天表示，新AI模型将针对更复杂的问题提供更优答案。"用户只需更少的提 示，即可获得所需结果。"此外，新模型在编程、应用开发与图像生成方面的能力也大幅增强。 随着Alphabet及其一众科技巨头大幅加码基础设施投入，以推动AI研发并迅速推出面向消费者与企业的新服务， 这一竞争格局正不断升级。在上月的财报中，Alphabet、Meta、微软和亚马逊均上调了资本开支指引，预计今年 合计支出将超过3800亿美元。 谷歌DeepMind首席执行官Demis Hassabis在声明中强调，基于Gemini 3的AI回答将不再依赖陈词滥调和奉承，而是 提供真实洞见——告诉你需要听到的，而不是你想听的。 与此同时，谷歌发布了名为"Google Antigravity"的全新智能体平台，让开发者得以在更高抽象层级上进行任务导 向型编程。 谷歌实验室与Gemini副总裁Josh Woodward表示 ...

截至2025年11月19日午间收盘，机器人ETF(159770)成交1.72亿元。跟踪的中证机器人指数(H30590)下跌 1.41%。成分股方面涨跌互现，伟创电气(688698)领涨1.24%，中大力德(002896)上涨0.56%，南网科技 (688248)上涨0.11%。 值得一提的是，机器人ETF(159770)再获资金逆市布局，半日已获净申购2550万份。 | | 机器人ETF 159770 | ਐ | | --- | --- | --- | | | 通融 △ ○ + | | | 实时申购赎回信息 | 申购 | 赎回 | | 笔数 | 21 | ব | | 金额 | O | 0 | | 份额 | 3150万 | 600万 | 截至11月18日，机器人ETF(159770)近1周规模增长2041.04万元，实现显著增长。份额方面，机器人 ETF(159770)最新份额达98.23亿份，创成立以来新高。 从资金净流入方面来看，机器人ETF(159770)近24天获得连续资金净流入，最高单日获得2.85亿元净流入， 合计"吸金"17.60亿元。 计算机ETF(159998)成交2945.50万元。跟踪的中 ...

Core Viewpoint - Google has launched its latest AI model, Gemini 3, to enhance its competitive position against companies like OpenAI, with significant improvements in handling complex queries and programming tasks [3][4]. Group 1: AI Model Features - Gemini 3 allows users to obtain desired results with fewer prompts, showcasing enhanced capabilities in programming, application development, and image generation [3][4]. - The model will be integrated into various Google products, including Gemini applications, AI search products, and enterprise solutions, with a phased rollout starting for select subscribers [3][4][8]. - The new model supports "generative interfaces," providing visually rich interpretations of content, such as art analysis with images and text [7]. Group 2: Market Position and Competition - Despite a slower start in the AI race, Google possesses advantages such as proprietary chips, a dominant online search market share of approximately 90%, and a vast user base across services like Gmail and Google Docs [4]. - Alphabet and other tech giants are significantly increasing infrastructure investments, with a combined expected capital expenditure exceeding $380 billion this year [5]. Group 3: Developer and Enterprise Integration - Developers can utilize the Gemini API for the new model, while enterprise clients can integrate it into their workflows through Google Cloud's Vertex AI, enhancing processes like employee onboarding and video analysis [9]. - The introduction of a new platform, "Google Antigravity," allows developers to engage in task-oriented programming at a higher abstraction level [6].

Core Insights - Google is launching its new AI model, Gemini 3, to enhance user experience by providing better answers to complex questions with less prompting [1][4] - The rollout of Gemini 3 will begin for select subscribers and expand to a broader audience in the coming weeks, following the previous versions Gemini 2.5 and 2.0 [2] - The Gemini app currently has 650 million monthly active users, while AI Overviews boasts 2 billion monthly users, indicating significant user engagement [3] Product Features - Gemini 3 is designed to understand depth and nuance, improving its ability to grasp context and intent behind user requests [4] - The AI responses from Gemini 3 aim to provide genuine insights rather than flattery, addressing criticisms of current AI chatbots being overly sycophantic [6] Industry Context - Major tech companies, including Alphabet, are heavily investing in AI infrastructure, with collective capital expenditures expected to exceed $380 billion this year [5] - OpenAI has also made advancements with its GPT-5 model, which has been updated to be more intelligent and efficient in task execution [7]

业内分析称，阿里正试图将外贸采购这件事，变成下一个巨型的AI入口。 国盛证券表示，OpenAI近期发布GPT-5.1系列模型，包含面向日常对话的Instant版本和专注复杂推理的 Thinking版本，核心升级在于语气更具同理心、指令遵循能力增强，并支持个性化人设设置，互动体验 显著优化。百度同步推出文心5.0大模型，采用统一自回归架构实现语言、图像、视频、音频的全模态 输入与多模态输出，参数规模超2.4万亿，已在文本理解榜单取得全球第二成绩，实测中对音视频细节 解析能力突出，办公与创作场景实用性强。大模型正从性能竞赛转向商业化落地与用户体验深化。 展望后市AI投资机会，中金公司建议关注"景气成长"主线，认为AI技术领域经历3年高速发展，明年有 望逐步进入产业应用兑现阶段，算力、光模块、云计算基础设施层面仍有机会，但可能更偏国产方向。 规模方面，科创AIETF近2周规模增长3429.61万元，实现显著增长。 份额方面，科创AIETF近1周份额增长6300.00万份，实现显著增长。 截至2025年11月18日 10:36，上证科创板人工智能指数强势上涨1.04%，成分股晶晨股份上涨5.71%，寒 武纪上涨2.5 ...

每日港股評析 港股早晨快訊 2025 年 11 月 182012 日星期二 -01-17 市場回顧 中港股市短期展望 恒指阻力參考 27,381 點：聯儲局 10 月再次鷹派減息，2026 年減息空間 少於預期。中美元首 10 月會面取得成果，美方取消 10%芬太尼關稅，暫 停一年 24%對等關稅。兩國緊張局勢暫時緩和，核心矛盾延後解決。內 地第三季經濟進一步降溫，十五五規劃提出擴大內需及促進科技自立自 強，方向符合預期，後續留意其他重要會議以跟進政策落地情況。基於短 期內港股企業盈利難有明顯改善，中美貿易戰局勢反覆，以及聯儲局減息 路徑未明，恒指短期阻力參考 10 月高位 27,381 點。 短期看好板塊 今日市場焦點 植田和男表示貨幣政策長期維持過於寬鬆會帶來風險； 企業消息 ➢ 阿里巴巴(9988)千問App公測，用戶湧入部分服務中斷； 京東外賣推獨立App，劉強東點評永不商業化； 華為Mate80系列及Mate X7定檔11月25日發布； 小鵬汽車(9868)第三季經調整虧損收窄至1.5億元人民幣，收入交付 量預測遜預期； 零跑汽車(9863)第三季扭虧賺1.5億元人民幣，銷量提前達標； 攜程集團(9 ...

整理 ｜晨曦 点击上方【36氪随声听】，一键收听大公司热门新闻。听完音频记得添加进入 【我的小程序】 中哟！ 生育津贴直发个人，结婚证非必需。 多省实现生育津贴直接发放至个人，无需提供结婚证 面对年轻人"不想生""不敢生""不能生"的生育忧虑，一系列构建生育友好型社会的医保政策正在持续发力，女职工人均生育津贴已超2.6万元，且无须提供 结婚证即可申领。 截至今年11月1日， 随着江苏、辽宁两省正式加入，全国已有包括河北、上海、浙江、四川、陕西等在内的25个省份（含新疆生产建设兵团）实现了生育 津贴直接发放至个人，尚未完全实现的省份主要为北京、天津、湖南、广东、广西、贵州和新疆。生育津贴直接发放至个人的统筹区占比近9成。（ 第一 财经 ） 刘强东宣布京 东外卖将 推出独立App，并推出京东点评 36氪获悉，刘强东17日宣布，京东外卖将推出独立App；并推出京东点评，承诺"永不商业化"。 网红酸奶Blueglass部分产品降价60%，曾多次因产品宣传问题被罚 单杯标价49元、人均消费40元以上的高端网红酸奶品牌Blueglass，近期加入了降价行列。其部分产品在第三方外卖平台售价低至19.9元，较线下49元的原 ...

Core Insights - Alphabet (GOOGL) shares have increased by 58% over the past 12 months, outperforming the Zacks Computer and Technology sector's growth of 27.3% and the Zacks Internet Services industry's increase of 52.4% [1][2] - The company's strong performance is attributed to its ongoing AI initiatives in search and cloud solutions, particularly the launch of Gemini Enterprise, which is expected to enhance its competitive position in the cloud computing market [2][9] Stock Performance - GOOGL shares have outperformed major competitors such as Microsoft (22.7%), Apple (19.5%), and Amazon (16.3%) during the same period [1] - Google maintains a dominant position in the search market with approximately 90% market share, significantly ahead of Microsoft's Bing at 4.31% [6] AI Integration and Revenue Growth - The integration of AI in Google Search has led to a 14.5% year-over-year increase in search revenues, reaching $56.57 billion in Q3 2025 [6][7] - AI Mode, available in over 40 languages, has over 75 million daily active users and has contributed to query growth, including shopping capabilities [7][8] Cloud Business Expansion - Google Cloud revenues surged by 34% year-over-year, with a backlog of $155 billion, reflecting a 46% sequential growth [9][10] - The number of new Google Cloud Platform (GCP) customers rose by approximately 34% year-over-year, with significant deals exceeding $1 billion signed [10][11] Earnings Estimates - The Zacks Consensus Estimate for Q4 2025 earnings is $2.57 per share, indicating a 19.53% year-over-year growth, with revenues projected at $94.09 billion, reflecting a 15.28% increase [12] - For the full year 2025, earnings are estimated at $10.49 per share, suggesting a 30.47% growth from 2024, with revenues expected to reach $339.75 billion, a 15.12% increase [13] Valuation Metrics - GOOGL stock is currently trading at a premium valuation, with a forward price/sales ratio of 8.09X compared to the industry average of 6.37X and the sector's 6.9X [14] - Despite being overvalued relative to its peers, GOOGL is cheaper than Microsoft (11.41X) and Apple (8.4X) [14] Conclusion - Alphabet's advancements in AI and cloud computing are favorable for long-term investors, justifying its premium valuation [17]

Core Insights - Alibaba Group's aggressive shift towards artificial intelligence is facing skepticism from investors regarding the sustainability of profitability from its technology investments [1][9] - The company is experiencing growth in its e-commerce ecosystem, but rising costs and execution risks are clouding the outlook for meaningful returns [1] AI Strategy and Developments - Alibaba.com is set to launch AI Mode in November 2025, aiming to leverage generative AI in B2B commerce, with European order volume increasing by 57% year-over-year and active suppliers growing by 50% [2] - The planned AI subscription service, priced at $20 monthly or $99 annually, is an attempt to generate revenue in a competitive landscape where rivals are offering similar services for free [3] - Recent rebranding of the Tongyi app to Qwen and the integration of AI features into Taobao highlight Alibaba's efforts to stand out in a crowded AI market [4] Competitive Landscape - JD.com has made significant investments in AI, with over $280 million directed towards AI robotics startups and a user base exceeding 700 million [6] - Amazon is expanding its AI capabilities with features like the Rufus shopping assistant and Project Amelia, positioning itself as a strong competitor in both e-commerce and enterprise AI [6] Financial Performance and Valuation - Alibaba's shares have increased by 81.4% year-to-date, outperforming the Zacks Internet – Commerce industry and the Zacks Retail-Wholesale sector [7] - The Zacks Consensus Estimate for fiscal 2026 earnings is projected at $6.57 per share, indicating a year-over-year decline of 27.08% [12] - Alibaba's stock is trading at a forward price/sales ratio of 2.37X, slightly above the industry average of 2.36X, with a Value Score of D [15]

大公司： 盒马前CEO侯毅创业"派特鲜生"大规模闭店后，将推新品牌"宠天天"自救 据媒体报道，近日，盒马创始人、前CEO侯毅打造的宠物鲜食品牌"派特鲜生"出现大规模闭店。在"派 特鲜生"陷入大规模闭店后，从派特鲜生内部人士处获悉，"派特鲜生将会推出线上新品牌'宠天天'， （渠道为）小程序 +电商平台，预计月底开，还在前期准备。"对此向派特鲜生官方进行求证，对方表 示，"属实，宠天天确实是派特鲜生旗下品牌。"但关于新品牌"宠天天"具体规划与细节，对方未给出正 式回应。（新浪科技） 诺基亚与意大利电信达成三年期5G合作协议 诺基亚11月17日宣布，已与意大利电信（TIM）达成一项为期三年的新协议，将扩展并升级其5G网络 的覆盖范围和容量。此次战略合作将覆盖TIM新增区域的客户群体，同时延伸诺基亚现有业务版图。 （界面） 大摩：欧洲央行有进一步降息空间，德债收益率明年底或为2.45% 摩根士丹利表示，预计欧洲央行将在明年上半年进一步下调利率。到明年年中，政策利率将从目前的 2.00%下调至1.50%并保持在该水平。策略师指出："经济增长疲软、通胀低于预期，加之财政刺激有 限，都推动欧洲央行进一步宽松。"在此背景下， ...