Core Insights - Adobe Inc. has announced a multi-year strategic partnership with Runway to enhance its AI offerings, becoming Runway's preferred API creativity partner, which provides Adobe customers exclusive early access to Runway's latest video generation models [1] Group 1: Partnership and Product Development - The partnership will launch with Runway's newly released Gen-4.5 model, available exclusively in Adobe Firefly, which is Adobe's all-in-one generative AI studio [2] - The Gen-4.5 model offers improved motion quality, better adherence to text prompts, enhanced visual fidelity, realistic physics, and strong temporal consistency, enabling creators to produce complex scenes with expressive characters and controllable actions [2] - Creators using Adobe Firefly can generate video content from text prompts or references and seamlessly transfer outputs into Adobe Creative Cloud applications for further editing and integration into professional projects [3] Group 2: Collaboration and Target Market - Adobe and Runway will collaborate with independent filmmakers, major studios, agencies, and enterprises to co-develop specialized AI video capabilities tailored for professional workflows, with new features available exclusively within Adobe applications [4] Group 3: Financial Outlook - Citi's Tyler Radke raised the price target on Adobe shares from $366 to $387 while maintaining a Neutral rating, noting that Adobe's Q4 showed clear upside in key metrics, but the guidance for fiscal 2026 appeared mixed [5] Group 4: Company Overview - Adobe Inc. is a global leader in creative software and digital media solutions, with its Adobe Sensei platform powering AI-driven features across Creative Cloud, Document Cloud, and Experience Cloud, enabling automated image editing, content personalization, and intelligent document processing [6]

Key Takeaways ADBE is expanding its AI reach via partnerships with AWS, Google, OpenAI, Microsoft, and others. New Runaway deal makes ADBE the preferred API partner and unlocks GEN-4.5 models for Firefly users.ARR rose 11.5% to $25.2B in FY25; Premiere Mobile and Semrush deals aim to sustain growth in FY26. Adobe’s (ADBE) prospects are expected to benefit from an expanding partner base that includes the likes of Amazon Web Services (AWS), Microsoft Azure and Copilot, Google Gemini, HUMAIN, OpenAI and others ...

⑥Adobe Firefly新增基于提示词的视频编辑功能； ⑦OpenAI据悉正与亚马逊洽谈超100亿美元投资，并使用亚马逊的人工智能芯片； ⑧Alphabet旗下自动驾驶公司Waymo洽谈新一轮融资，估值或超1000亿美元。 ③腾讯大模型团队架构调整，前OpenAI研究员姚顺雨任要职； ④小米开源MiMo-V2-Flash大模型； ⑤阶跃星辰宣布GUI Agent全面升级，包括云端模型Step-GUI全量上新，并开放GUI-MCP协议； AI进化速递 | OpenAI推出GPT Image 1.5 ①OpenAI推出全新图像生成模型GPT Image 1.5； ②腾讯混元世界模型1.5正式发布； ...

此外，应用还新增了时间轴视图功能。这一功能为用户提供了更加直观、便捷的操作界面，用户可以轻 松调整画面帧、音频以及其他视频属性。 为了进一步提升应用的创作能力，Adobe 在此次更新中引入了多款用于图像和视频生成的第三方模型。 其中，Black Forest Labs 的 FLUX.2 图像生成模型即将登陆该应用，这将为用户带来更加丰富多样的图 像生成效果，满足不同场景下的创作需求。同时，Topaz Labs 的 Astra 模型也加入了应用阵营，用户目 前可借助该模型将视频分辨率提升至 1080P 或 4K 标准，让视频画质更加清晰、细腻，提升观众的观看 体验。 除了第三方模型，Adobe 自研的 Firefly Video 模型也发挥了重要作用。用户现在可以上传起始帧与一段 包含镜头运动轨迹的参考视频，应用便能据此复刻出相同的镜头角度，并应用到正在制作的视频中。 来源：环球网 【环球网科技综合报道】12月17日消息，创意软件公司 Adobe 宣布为其人工智能视频生成应用 Firefly 推送重要更新，新增支持基于文本指令精准编辑的视频编辑器功能。 据悉，在传统视频编辑过程中，创作者往往需要手动进行各种复杂 ...

Adobe Firefly now supports prompt-based video editing, adds more third-party models https://t.co/8cRitlR377 ...

Core Insights - The AI-driven bull run of 2023 and 2024 continues into 2025, with AI-centric stocks poised for significant growth [1] Group 1: AI Stocks with Growth Potential - Several AI stocks have experienced double-digit negative returns in 2025, but five stocks with favorable Zacks Ranks show potential for growth [2] - The identified stocks are Marvell Technology Inc. (MRVL), Atlassian Corp. (TEAM), Adobe Inc. (ADBE), Workday Inc. (WDAY), and Snap Inc. (SNAP), all carrying Zacks Rank 1 (Strong Buy) or 2 (Buy) [3] Group 2: Marvell Technology Inc. (MRVL) - MRVL is a key player in the solid-state drive controllers market, benefiting from increasing demand due to growing data volumes [6] - In Q3 fiscal 2026, MRVL's revenues grew 36.8% year-over-year, driven by data center growth and recovery in enterprise networking [7] - MRVL's acquisition of Celestial AI, expected to close in Q1 fiscal 2027, will enhance its capabilities in optical interconnect technology [8] - The expected revenue and earnings growth rates for MRVL are 21.7% and 25.7%, respectively, for the next year [8] Group 3: Atlassian Corp. (TEAM) - TEAM is benefiting from the demand for remote working tools, with over 1 million monthly active users engaging with its AI features, a 25X year-over-year increase [11] - The company's focus on generative AI features is expected to drive long-term revenue growth [13] - Atlassian has an expected revenue and earnings growth rate of 20.8% and 29.4%, respectively, for the current year [14] Group 4: Adobe Inc. (ADBE) - ADBE has integrated AI applications across its products, including the introduction of generative AI-driven Adobe Firefly [15] - The company is diversifying into digital marketing services using its AI-driven cloud platform [16] - ADBE's expected revenue and earnings growth rates are 9.2% and 13.3%, respectively, for the current year [18] Group 5: Workday Inc. (WDAY) - WDAY's diversified product portfolio and cloud-based business model are key growth drivers, with strong customer wins across various sectors [19] - Significant investment from Elliott Investment Management is expected to drive innovation and AI integration [20] - WDAY has an expected revenue and earnings growth rate of 12.1% and 17.4%, respectively, for next year [21] Group 6: Snap Inc. (SNAP) - SNAP's integration of AI is transforming user interaction and creating monetization opportunities beyond traditional advertising [22] - The partnership with Perplexity will generate $400 million over one year, enhancing SNAP's AI capabilities [23] - SNAP has an expected revenue and earnings growth rate of 13.4% and 52.3%, respectively, for next year [25]

来源：美股研究社 Adobe与Salesforce两家公司虽然都已失去华尔街的青睐，但其基本面却在持续走强。 Salesforce 与 Adobe 的未来走向，无非两种可能：要么是当前软件板块中最值得入手的两只标的，要么 就是两家颓势已定、只是衰退尚未体现在财务数据上的公司。 这正是问题的棘手之处：事实上，两家公司的基本面都在持续向好，但围绕它们的市场叙事却在不断恶 化。 Adobe(ADBE) 将于 12 月 10 日发布财报，这份财报对应其 2025 财年第四季度，既是全年业绩的收官之 作，也将帮助我们更清晰地把握公司下一财年的发展预期。接下来，就让我们做好准备，梳理这份财报 的潜在看点。 过去十年，Adobe 的成功源于其向订阅制商业模式的转型 —— 目前公司近 97% 的营收均来自订阅业 务。 从业务板块划分来看，Adobe 将其运营分为三大核心领域：数字媒体业务（约占总营收的 74%）、数字 体验业务（占总营收的 25%）以及出版与广告业务（占总营收的 1%）。 2024 财年末，公司公布的营收规模达到 215 亿美元。本财年，公司重回增长轨道，设定的总营收目标 不低于 236.5 亿美元，具体内容 ...

过去十年，Adobe 的成功源于其向订阅制商业模式的转型 —— 目前公司近 97% 的营收均来 自订阅业务。 从业务板块划分来看，Adobe 将其运营分为三大核心领域：数字媒体业务（约占总营收的 74%）、数字体验业务（占总营收的 25%）以及出版与广告业务（占总营收的 1%）。 Adobe与 Salesforce 两家公司虽然都已 失去华尔街的青睐，但其基本面却在持续走强。 Salesforce 与 Adobe 的未来走向，无非两种可能： 要么是当前软件板块中最值得入手的两 只标的，要么就是两家颓势已定、只是衰退尚未体现在财务数据上的公司。 这正是问题的棘手之处：事实上，两家公司的基本面都在持续向好，但围绕它们的市场叙事却 在不断恶化。 【如需和我们交流可扫码添加进社群】 Adobe (ADBE) 将于 12 月 10 日发布财报，这份财报对应其 2025 财年第四季度，既是全 年业绩的收官之作，也将帮助我们更清晰地把握公司下一财年的发展预期。接下来，就让我们 做好准备，梳理这份财报的潜在看点。 2024 财年末，公司公布的营收规模达到 215 亿美元。本财年，公司重回增长轨道，设定的 总营收目标不低于 2 ...

Core Insights - AWS is at a pivotal moment, focusing on transforming AI from an assistant role to a more capable agent role, aiming to deliver real business value to enterprise customers [1][18]. Group 1: Computing Power - AWS has adopted a more pragmatic and aggressive strategy in computing power, significantly reducing costs with self-developed chips and breaking physical boundaries to accommodate large clients who prefer not to migrate to the cloud [4]. - The introduction of Trainium 3 UltraServers has improved inference efficiency by five times compared to its predecessor, with Trainium 4 promising a further sixfold performance increase [4][27]. - AWS AI Factories have been launched to address data sovereignty concerns by allowing clients to build AWS's computing infrastructure directly in their data centers [4]. Group 2: Model Development - AWS has completed its Amazon Nova self-developed model family with the release of the Amazon Nova 2 series, which includes the first multimodal model capable of processing text, images, audio, and video inputs [6]. - The Amazon Nova Forge introduces the concept of "open training models," allowing enterprises to inject proprietary data during the final stages of model pre-training, enhancing the model's capabilities without losing core competencies [6][37]. Group 3: Application Layer - AWS is addressing the uncontrollable nature of AI agents by implementing a robust policy framework, AgentCore Policy, to ensure agents act as reliable productivity tools [7][45]. - The Frontier Agents series has been introduced, which includes autonomous agents capable of performing tasks such as bug fixing and security scanning, indicating a shift in software engineering lifecycle management [7][41]. - The AgentCore platform is designed to facilitate the secure and scalable deployment of agents, with features that allow for real-time monitoring and control of agent actions [41][44]. Group 4: Business Growth and Infrastructure - AWS reported an annual revenue of $132 billion, with a growth rate of 20%, indicating strong business performance and market leadership in cloud computing [10]. - The company has expanded its global data center network, adding 3.8 GW of capacity in the past year, which is the largest in the industry [13]. - AWS's collaboration with various partners, including startups and established companies, highlights its role in driving innovation across multiple sectors [14].

Core Insights - The rise of marketing masters in China was driven by their ability to capture channel dividends during a time of limited consumer access to brands, rather than purely creative talent [1][2] - The advent of mobile internet and AI has disrupted the traditional marketing landscape, diminishing the exclusivity of knowledge held by these masters and leveling the playing field for businesses [4][5] Group 1: Historical Context of Marketing Masters - Marketing masters like Li Guangdou and Ye Maozhong became pivotal figures in the industry by leveraging their control over channels and unique methodologies, which were once essential for businesses seeking marketing success [1][2] - The 1990s saw a significant marketing boom, exemplified by Qin Chi Wine's explosive sales growth due to strategic advertising on centralized media platforms like CCTV [1][2] Group 2: Impact of AI on Marketing - AI has fundamentally altered the marketing landscape by making previously exclusive knowledge accessible to all, thus eroding the traditional power held by marketing masters [4][5] - The efficiency of AI tools allows businesses to generate comprehensive marketing strategies in a fraction of the time and cost, significantly lowering the barriers to entry in the marketing sector [5][6] Group 3: Future of Marketing Professionals - The future marketing landscape is expected to shift from a few dominant masters to numerous specialists who leverage AI tools to excel in niche areas, creating a more decentralized ecosystem [8][9] - Brands will increasingly seek experts for specific problems rather than relying on a single master for all solutions, fostering growth opportunities for specialized firms and studios [9][10]