// 热点头条 // 1. SpaceX：官网发布马斯克署名公告，宣布已收购xAI，合并后公司将整合人工智能、火箭、天基互联 网及移动设备直连通信。备忘录显示，新公司估值达1.25万亿美元（SpaceX估值1万亿美元+xAI估值 2500亿美元），交易为全股票形式，仍筹备2026年潜在IPO，但具体时间和估值尚不确定。 2. AMD：2025年四季度营收102.7亿美元，超预期的96.5亿美元；调整后每股收益1.53美元，高于预期 的1.32美元；运营利润28.5亿美元，利润率28%，预计2026年一季度营收95亿-101亿美元，调整后毛利 润率约55%。 3. 英伟达： 有报道称，OpenAI对英伟达最新的一些人工智能芯片并不满意，并且自去年以来一直在推 理芯片市场寻找替代方案。不过，报道出炉后不久，OpenAI CEO Altman隔空反驳，赞扬英伟达的AI芯 片。英伟达CEO黄仁勋对此表示，公司对OpenAI 的投资计划仍在 "按部就班推进"。 // 大中华地区公司要闻 // 1. 东鹏饮料：正式登陆香港联合交易所主板，证券简称为"东鹏饮料"，成为国内首家实现A+H双上市的 功能饮料企业，此次上市将助力 ...

智通财经获悉，周三美股盘后，微软(MSFT.US)公布了2026财年第二季度财报。尽管其营收与利润双双 超出华尔街预期，且整体云业务营收首次突破500亿美元大关，但Azure云服务收入增速的放缓以及创纪 录的资本开支，引发了投资者对人工智能(AI)投资回报周期的忧虑，这导致其股价在盘后交易中大幅下 跌。 核心财务数据表现强劲 在截至12月31日的财年第二季度，微软营收达到812.7亿美元，同比增长约17%，高于市场普遍预期的 803亿美元。净利润为384.6亿美元，合每股收益5.16美元，远超市场预期的3.92美元。调整后每股收益 为4.14美元，同样高于预期。 值得注意的是，净利润的大幅跃升部分得益于对OpenAI投资会计处理的变更所带来的收益，这部分收 益为每股收益增厚1.02美元。 云业务营收创新高但增速微降 本季度，微软包含Azure在内的"智能云"部门营收为329.1亿美元，同比增长近29%，略高于预期。然 而，市场更为关注的Azure及其他云服务收入增速成为焦点。 根据公司披露，按固定汇率计算，Azure及其他云服务营收同比增长38%，刚好符合分析师的预测，但 增速较前一季度放缓了一个百分点。DA ...

（原标题：微软(MSFT.US)财报亮眼却遭市场"用脚投票"：云业务增速微降 AI"狂烧钱"吓坏投资者） 智通财经APP获悉，周三美股盘后，微软(MSFT.US)公布了2026财年第二季度财报。尽管其营收与利润 双双超出华尔街预期，且整体云业务营收首次突破500亿美元大关，但Azure云服务收入增速的放缓以及 创纪录的资本开支，引发了投资者对人工智能(AI)投资回报周期的忧虑，这导致其股价在盘后交易中大 幅下跌。 核心财务数据表现强劲 尽管微软云业务整体营收首次突破500亿美元，达到515亿美元，但Azure增速的"微降"被市场解读为AI 驱动的云增长故事可能面临波动的信号。 资本开支激增，AI投资回报引质疑 更令市场感到压力的是微软激增的资本支出。本季度，微软资本支出达到375亿美元，同比大增66%， 且超出分析师预期的362亿美元。其中，该公司约三分之二的支出用于计算芯片，以建设数据中心满足 AI需求。 首席执行官Satya Nadella在财报电话会上表示，仅本季度就增加了近1吉瓦的算力容量。尽管投资巨 大，但公司高管此前已多次提及AI服务需求旺盛，导致产能供应紧张，这在一定程度上制约了营收的 更快增长 ...

智通财经APP获悉，周三美股盘后，微软(MSFT.US)公布了2026财年第二季度财报。尽管其营收与利润 双双超出华尔街预期，且整体云业务营收首次突破500亿美元大关，但Azure云服务收入增速的放缓以及 创纪录的资本开支，引发了投资者对人工智能(AI)投资回报周期的忧虑，这导致其股价在盘后交易中大 幅下跌。 作为全球最大的软件企业，微软云计算业务此前实现快速增长，这在一定程度上得益于其与AI头部初 创企业OpenAI达成的里程碑式合作。但尽管在数据中心领域投入巨资，微软仍难以快速扩充足够的算 力产能以满足需求。 核心财务数据表现强劲 在截至12月31日的财年第二季度，微软营收达到812.7亿美元，同比增长约17%，高于市场普遍预期的 803亿美元。净利润为384.6亿美元，合每股收益5.16美元，远超市场预期的3.92美元。调整后每股收益 为4.14美元，同样高于预期。 值得注意的是，净利润的大幅跃升部分得益于对OpenAI投资会计处理的变更所带来的收益，这部分收 益为每股收益增厚1.02美元。 云业务营收创新高但增速微降 本季度，微软包含Azure在内的"智能云"部门营收为329.1亿美元，同比增长近29 ...

Core Viewpoint - Microsoft reported strong second-quarter earnings, exceeding Wall Street expectations, but its stock fell over 3% due to concerns about rising costs associated with AI investments [1][2][14]. Financial Performance - Microsoft posted earnings per share of $5.16 on revenue of $81.27 billion, surpassing analyst estimates of $3.92 in EPS and $80.3 billion in revenue [3][15]. - Cloud revenue reached $51.5 billion, marking a significant increase from $40.9 billion a year earlier [3][15]. Segment Performance - The Intelligent Cloud segment, including Azure, generated $32.9 billion in revenue, exceeding expectations of $32.2 billion [7][16]. - Productivity and Business Processes revenue, which includes Microsoft 365, came in at $34.1 billion, also above Wall Street estimates [7][16]. - The More Personal Computing segment, which includes Windows, Surface, and Xbox, generated $14.3 billion in revenue, matching expectations [8][16]. AI Business Insights - CEO Satya Nadella highlighted the growth of Microsoft's AI business, stating it is larger than some of the company's biggest franchises [4][16]. - The company's remaining performance obligations, a key indicator of future revenue, rose to $625 billion, with approximately 45% linked to OpenAI commitments [10][16]. Future Outlook - Microsoft faces AI capacity constraints, with demand for AI services exceeding supply, which is limiting near-term revenue [11][16]. - CFO Amy Hood indicated that capital expenditures are expected to increase in fiscal 2026 beyond last year's $88.2 billion [12][16]. - Despite being a major beneficiary of the AI surge, Microsoft’s stock has pulled back as investors assess the scale of AI-related spending [13][16].

Microsoft (MSFT) reported its second quarter earnings after the bell on Wednesday, beating Wall Street estimates on the top and bottom lines, with cloud revenue topping $50 billion for the first time. But the company's stock fell over 11% Thursday as investors worried about that cloud growth slowing — and about the company's ballooning AI-fueled spending. “We are only at the beginning phases of AI diffusion, and already Microsoft has built an AI business that is larger than some of our biggest franchises ...

Microsoft (MSFT) reported its second quarter earnings after the bell on Wednesday, beating Wall Street estimates on the top and bottom lines, with cloud revenue topping $50 billion for the first time. But the company's stock fell as much as 10% Thursday as investors worried about that cloud growth slowing — and about the company's ballooning AI-fueled spending. “We are only at the beginning phases of AI diffusion, and already Microsoft has built an AI business that is larger than some of our biggest fr ...

Key Points Nvidia will dominate the AI chip market for the foreseeable future. Microsoft’s Copilot and Azure platforms are expanding. Both stocks still look reasonably valued relative to their growth potential. 10 stocks we like better than Nvidia › The artificial intelligence (AI) market expanded rapidly in recent years as sophisticated AI chatbots locked in hundreds of millions of users. That secular shift is driving more companies to upgrade their AI infrastructure and integrate more AI applic ...

外媒称，几个月来，开发者们一直在比较 Anthropic 的 Claude Code、Anysphere 的 Cursor 和微软的 GitHub Copilot 这三款人工智能编码工具的优缺点，希望能找到最终的赢家。虽然没有哪一款人工智能 编码工具能够完美胜任软件开发者每天的所有任务，但 Claude Code 因其易用性而日益脱颖而出，无论 对于开发者还是非技术用户来说，它都非常容易上手。 来源：环球网 【环球网科技综合报道】1月24日消息，据The Verge报道，微软正鼓励其一些最有成就的团队中的数千 名员工学习 Claude Code 并开始编写代码，即使他们不是开发人员。 微软去年6月率先在其开发者部门内部采用Anthropic的Claude Sonnet 4模型，几个月后又将其推广至 GitHub Copilot的付费用户。如今，微软更进一步，在其最大的工程团队中广泛采用Claude Code，进一 步拓展了Anthropic人工智能模型的应用范围。 微软新成立的人工智能工程团队 CoreAI 由前 Meta 工程主管 Jay Parikh 领导，近几个月来一直在测试 Claude Code。上 ...

Core Viewpoint - The rise and fall of the ASUS Eee PC, which pioneered the netbook category, illustrates the rapid evolution of consumer electronics and the impact of market dynamics on product lifecycle [1][10][43] Group 1: Rise of the Netbook - In 2006, ASUS became the world's second-largest OEM, primarily manufacturing computers and servers for Dell and HP, but faced anxiety over its heavy reliance on OEM business [1] - The launch of the ASUS Eee PC in 2007 marked a significant shift, creating a new product category known as netbooks, which peaked at nearly 40 million units sold globally [1][10] - The Eee PC was priced at $299, significantly lower than traditional laptops, which contributed to its rapid adoption [4][10] - By 2008, netbook sales reached 10.8 million units, and by 2010, they exceeded 39 million units, capturing over 10% of the PC market [3][10] Group 2: Market Dynamics - The global financial crisis in 2007 led to decreased consumer spending, further enhancing the appeal of low-cost netbooks as alternatives to traditional laptops [7] - The entry of various manufacturers, including Acer and numerous smaller companies, drove down production costs and increased competition in the netbook market [6][10] - Netbooks found a niche in the education sector, particularly in developing countries, where their affordability made them an attractive option for governments looking to enhance educational resources [9][10] Group 3: Decline of the Netbook - Despite initial success, netbook sales began to decline sharply after 2010, with sales dropping to 2.94 million units in 2011 and further to 1.41 million in 2012 [10][12] - The rapid evolution of technology and consumer preferences, including the rise of tablets and smartphones, contributed to the decline of netbooks, as these devices offered better performance and portability [30][34] - By 2013, major manufacturers, including ASUS and Acer, ceased production of new netbook models, marking the end of the product category [12][13] Group 4: Legacy and Impact - The netbook's brief existence highlighted the importance of price, portability, and internet connectivity in consumer electronics, influencing the design and marketing of future devices [41][43] - Innovations inspired by the netbook, such as ultrabooks and Chromebooks, emerged as manufacturers sought to fill the gaps left by the decline of netbooks [43] - The netbook phenomenon serves as a case study in how market needs and technological advancements can rapidly change the landscape of consumer electronics [43]