Core Insights - The software development sector is experiencing significant growth driven by AI advancements, with major companies increasing their capital expenditures on AI infrastructure [3][4] - The 信创 ETF fund (562030) has seen a rapid price increase, reflecting strong performance from its constituent stocks, particularly in the software development industry [1] Group 1: AI and Software Development - AI has become the core growth engine for the computer and software development industry, with major cloud providers increasing their investments in AI [4] - In Q3, the combined capital expenditures of four major cloud companies exceeded $110 billion, primarily directed towards data centers and AI infrastructure [4] - The demand for AI computing power remains strong, with NVIDIA reporting record data center revenue and significant future revenue potential from new chips [4] Group 2: Market Performance and Trends - The 信创 ETF fund (562030) and its linked funds are passively tracking the 中证信创 index, which includes top-weighted stocks such as 中科曙光 and 海光信息 [4] - Notable stock performances include 品高股份 and 三六零 reaching their daily price limits, while 卓易信息 and 致远互联 saw substantial gains [1] - The AI-driven growth is also reflected in the revenue increases of SaaS companies like ServiceNow and Palantir, indicating a high level of industry optimism [4]

Group 1 - The core viewpoint of the news highlights the significant growth and investment in the AI and software development sectors, driven by strong demand and technological advancements [3][4]. - The 信创 ETF fund (562030) experienced a rapid increase of 2.49%, with key stocks such as 品高股份 and 三六零 hitting their daily limit [1]. - Nvidia reported record data center revenue of $51.2 billion for Q3 of fiscal year 2026, indicating robust demand for its Blackwell architecture products [3]. Group 2 - Major cloud service providers (CSPs) have increased their capital expenditures, with the top four companies collectively spending over $110 billion in Q3, primarily on data centers and AI infrastructure [4]. - AWS has a backlog of orders exceeding $200 billion, while Azure's growth rate reached 40%, showcasing the strong demand for AI-driven cloud services [4]. - The AI sector is expected to continue driving revenue growth for SaaS companies, with notable increases in revenue for firms like ServiceNow and Palantir [4].

大数据产业ETF（516700）被动跟踪中证数据指数，该指数前十大权重股分别为中科曙光、科大讯飞、浪潮信息、紫光股份、恒生电子、拓维信息、深信 服、润泽科技、中国长城、用友网络。 数据来源于沪深交易所、公开资料等。 风险提示：以上产品由基金管理人发行与管理，代销机构不承担产品的投资、兑付和风险管理责任。投资人应当认真阅读《基金合同》、《招募说明书》、 《基金产品资料概要》等基金法律文件，了解基金的风险收益特征，选择与自身风险承受能力相适应的产品。基金过往业绩并不预示其未来表现，基金投资 须谨慎！销售机构（包括基金管理人直销机构和其他销售机构）根据相关法律法规对本基金进行风险评价，投资者应及时关注基金管理人出具的适当性意 见，各销售机构关于适当性的意见不必然一致，且基金销售机构所出具的基金产品风险等级评价结果不得低于基金管理人作出的风险等级评价结果。基金合 同中关于基金风险收益特征与基金风险等级因考虑因素不同而存在差异。投资者应了解基金的风险收益情况，结合自身投资目的、期限、投资经验及风险承 受能力谨慎选择基金产品并自行承担风险。中国证监会对上述基金的注册，并不表明其对上述基金的投资价值、市场前景和收益做出实质 ...

风险提示：以上产品由基金管理人发行与管理，代销机构不承担产品的投资、兑付和风险管理责任。投 资人应当认真阅读《基金合同》、《招募说明书》、《基金产品资料概要》等基金法律文件，了解基金 的风险收益特征，选择与自身风险承受能力相适应的产品。基金过往业绩并不预示其未来表现，基金投 资须谨慎！销售机构（包括基金管理人直销机构和其他销售机构）根据相关法律法规对本基金进行风险 评价，投资者应及时关注基金管理人出具的适当性意见，各销售机构关于适当性的意见不必然一致，且 基金销售机构所出具的基金产品风险等级评价结果不得低于基金管理人作出的风险等级评价结果。基金 合同中关于基金风险收益特征与基金风险等级因考虑因素不同而存在差异。投资者应了解基金的风险收 益情况，结合自身投资目的、期限、投资经验及风险承受能力谨慎选择基金产品并自行承担风险。中国 证监会对上述基金的注册，并不表明其对上述基金的投资价值、市场前景和收益做出实质性判断或保 证。基金投资须谨慎。 MACD金叉信号形成，这些股涨势不错！ 开源证券指出，AI需求可预见性提升，软件侧亦孕育机会，Mid-training有望延续Scaling Law，成为本 轮算力需求延续的底 ...

证券研究报告：计算机|点评报告 发布时间：2025-11-24 行业投资评级 强于大市|维持 行业基本情况 | 收盘点位 | | 5068.36 | | --- | --- | --- | | 52 | 周最高 | 5841.52 | | 52 | 周最低 | 3963.29 | 行业相对指数表现（相对值） -13% -9% -5% -1% 3% 7% 11% 15% 19% 23% 27% 2024-11 2025-02 2025-04 2025-06 2025-09 2025-11 计算机 沪深300 资料来源：聚源，中邮证券研究所 研究所 ⚫ Gemini 3.0 Pro 代际升级，模型 SOTA、交互体验等能力 全方位发力 11 月 19 日，谷歌正式发布 Gemini 3.0 Pro 模型，不满足于在某 个单一维度领先，而是要在模型能力、开发者工具、用户体验、搜索 集成等所有战线上同时发力。 1）基准测试取得最新 SOTA。推理与学术基准显著领先： Humanity's Last Exam（无工具）得分 37.5%，ARC-AGI-2 31.1%，GPQA Diamond（无工具）91.9%，展示了 ...

Google 家的新模型 Gemini 3.0 Pro ，在 Design Arena 的大模型比拼里，四项拿下第一：网站、游戏开发、3D 设计、UI 组件。 Gemini 3.0 Pro 不只是帮你写写代码或者出点设计灵感，它几乎能独立完成整套前端和交互开发流程。 用户测试 Gemini 3 Pro 在实际开发中表现最稳定、代码自然、设计灵活，细节准确，整体领先同类工具。 凡是偏代码、偏设计、偏真实产出的场景，Gemini 几乎全赢了。 | | | | Scores (Human Judged - Max Score: 10) | | | | --- | --- | --- | --- | --- | --- | | | | | Claude | | | | # | Task | Gemini-3 (Riftrunner | 4.5 Sonnet | GPT 5.1 Codex | Max | | Q1 | Build a web app that visually explains how a Transformer model processes a sentence. | | 5 | | 10 | | ...

正如此前业界预期，Google 正式发布了 Gemini 3.0 Pro 。这一代模型 主打更强的推理与理解能力 ， 能够更好地捕捉语言的深层含义与细微差别 ， 使用户在 无需更多精细提示词的情况下，也能获得更高质量的回答 。 在权威基准测试中，Gemini 3.0 Pro 在事实准确性评测中取得了 72.1% 的当前最优成绩，并在数学测试中以 23.4% 的得分达到同类模型的领先水平。这意味 着 Gemini 3.0 Pro 在科学、数学等多学科场景下具备更高的可靠性，能够高效处理跨领域、跨步骤的复杂问题。 | Benchmark | Description | | Gemini 3 Pro | Gemini 2.5 Pro | Claude Sonnet 4.5 | GPT-5.1 | | --- | --- | --- | --- | --- | --- | --- | | Humanity's Last Exam | Academic reasoning | No tools With search and | 37.5% 45.8% | 21.6% | 13.7% | 26.5% - | | | | ...

小米汽车本周将完成全年交付目标 11月18日，小米集团发布2025年Q3财报，小米集团合伙人、集团总裁卢伟冰在业绩电话会上透露，小 米汽车预计将于本周完成全年35万台的年度交付目标。财报数据显示，Q3小米汽车新车交付超10万 台，前三季度累计交付已突破26万台。 iPhone17系列在华销量猛增37% 市场调查机构 CounterPoint Research 发布博文，报道称 2025 年 10 月中国智能手机市场强势反弹，销量 同比增长 8%。苹果公司成为最大赢家，凭借 iPhone 17 系列的强劲表现，销量同比猛增 37%。 马斯克点赞谷歌Gemini3 谷歌最新一代推理模型Gemini 3.0 Pro正式发布，并同步在Google AI Studio推出预览版，开放API接口。 该模型即将陆续登陆谷歌旗下各类产品。 值得玩味的是，OpenAI联合创始人兼CEO萨姆·阿尔特曼与xAI创始人埃隆·马斯克先后向谷歌发来"贺 电"。阿尔特曼在推特上评价"Gemini 3看起来很不错"，谷歌CEO桑达尔·皮查伊仅以一个表情包轻松回 应。 董明珠再回应玫瑰空调 11月18日，格力电器董事长董明珠在广州南沙举行的第 ...

RT can (@marmaduke091)🚨 GEMINI 3.0 PRO STRESS TEST 🚨To celebrate the launch of Gemini 3.0 Pro, I’ve spent HOURS to create the BEST Xbox One Controller SVG possible, purely through prompting.The result is insanely close to real life.Can you beat this? I challenge you. Results/code below. 👇 https://t.co/UBdW28gbIj ...

Investment Rating - The report maintains an "Outperform the Market" rating for the media industry [4][38]. Core Views - The report expresses a positive outlook on the gaming sector's new product cycle and the potential for a turnaround in the film and television industry, alongside opportunities in AI applications [3][38]. - It highlights the recent updates in AI technologies, including Sora2's new features, the release of Doubao model 1.6, and Google's Gemini 3.0 Pro, indicating a growing trend in AI applications across various sectors [3][38]. Summary by Sections Industry Performance - The media sector experienced a decline of 6.28% from October 13 to October 17, underperforming against the CSI 300 index, which fell by 2.22%, and the ChiNext index, which dropped by 5.71% [11][12]. - The media sector ranked 28th in terms of performance among all sectors during this period [11][13]. Key Updates - Sora2 introduced new features, including a "storyboard" function and an increase in video generation length to 25 seconds for Pro users [15][16]. - The Doubao model 1.6 was released, allowing users to adjust the depth of thought in its responses, significantly reducing token consumption and response time [16]. - Google's Gemini 3.0 Pro model began a limited rollout, enhancing reasoning capabilities and multimodal processing [16]. Box Office and Content Performance - The total box office for the week of October 13 to October 19 was 241 million yuan, with the top three films being "The Life of Langlang" and "The Volunteer Army: Blood and Peace," each earning 44 million yuan [2][17]. - The report notes the performance of various TV shows and variety programs, with "Flowers and Youth" and "The Ninth Season of Ace vs. Ace" leading in viewership [22][23]. Investment Recommendations - The report recommends focusing on gaming and IP trends, suggesting stocks like Giant Network, Kaiying Network, and Jibite for potential growth [3][38]. - It also advises monitoring the film and television sector for signs of recovery, recommending companies like Mango TV and Bilibili, as well as content producers like Light Media and Huace Film [3][38].