Core Viewpoint - Nvidia and Microsoft are approaching a market capitalization of $4 trillion, driven by the surge in AI demand and technology integration [1][3]. Group 1: Nvidia's Performance and Risks - Nvidia's revenue has increased over tenfold in the past three years, with an expected annual growth rate of 32% over the next three years [5]. - The company's success is heavily reliant on the AI boom, positioning it as a crucial hardware supplier in the AI value chain [4]. - However, Nvidia faces binary risks; if AI demand does not meet expectations or if technological breakthroughs diminish the necessity of its chips, the company could quickly lose its competitive edge [6]. Group 2: Microsoft's AI Strategy and Challenges - Microsoft's AI growth story is more complex, with its Azure cloud computing division's AI services generating approximately $11.5 billion in the last fiscal year, representing over 100% growth but only 4% of total revenue [7]. - The company is under internal pressure, having recently announced layoffs of 9,000 employees following a previous reduction of 6,000 positions [8]. - Microsoft lags behind other tech giants in employee efficiency, needing to cut 84,000 jobs to match Alphabet's efficiency levels [9]. - There are emerging tensions in Microsoft's partnership with OpenAI, particularly regarding the terms of their $10 billion collaboration, which may impact Microsoft's AI strategy significantly [10].

Market Overview - The Dow Jones Industrial Average decreased by 269.67 points, or 0.64%, closing at 42140.43 [2] - The Nasdaq increased by 301.74 points, or 1.61%, closing at 19010.08 [2] - The S&P 500 rose by 42.36 points, or 0.72%, closing at 5886.55 [2] - The Hang Seng Index fell by 441.19 points, or 1.87%, closing at 23108.27 [2] - The Nikkei 225 increased by 239 points, or 1.43%, closing at 38183.26 [2] Trade Policies - The Chinese government announced a reduction in tariffs on U.S. imports, lowering the additional tariff rate from 34% to 10% effective May 14, 2025 [3][4] - India plans to impose tariffs on certain U.S. products in response to previous U.S. tariffs on Indian steel and aluminum [5] Defense Contracts - The U.S. and Saudi Arabia signed a military sales agreement worth approximately $142 billion, marking the largest military deal in history between the two nations [4] Technology Developments - Nvidia announced plans to supply over 18,000 advanced AI chips to Saudi Arabia for a data center project with a capacity of up to 500 megawatts [6] - Apple is reportedly entering the brain-computer interface market, collaborating with Synchron to develop a device that reads neural signals [10] Corporate Actions - Microsoft plans to lay off about 3% of its global workforce, affecting over 6,000 employees, due to cost pressures from investments in AI and cloud computing [9] - Five regulatory departments in China held discussions with major food delivery platforms like JD, Meituan, and Ele.me to address competition issues and ensure compliance with laws [11]

【加密货币】比特币涨0.36%，报94642.81美元；以太币跌0.06%，报1797.76美元。 【金属】现货黄金跌0.89%，报3287.77美元/盎司，4月份累计上涨5.34%，4月8日跌至2956.71美元之后 持续上涨，4月22日北京时间14:00涨至3500.10美元创历史最高，随后回落只3300美元并持续交投于这 一水平附近。COMEX黄金期货跌1.04%，报3298.90美元/盎司，4月份累涨4.64%，整体交投于2970.40- 3509.90美元区间。 智通财经APP获悉，周三，三大指数低开高走涨跌不一。周三是4月份的最后一个交易日，对美股来说 一个艰难的月份至此结束。在4月份，道指累计下跌3.17%，标普500指数下跌0.76%，二者均为连续第 三个月下跌。纳指上涨0.85%。 【美股】截至收盘，道指周三收涨141.74点，涨幅为0.35%，报40669.36点；纳指跌14.98点，跌幅为 0.09%，报17446.34点；标普500指数涨8.23点，涨幅为0.15%，报5569.06点。 【欧股】德国DAX30指数涨20.45点，涨幅0.09%，报22470.16点；英国富时100指数 ...