BING-JHEN HONG/iStock Editorial via Getty Images Introduction At the turn of the year, I upgraded Nvidia Corporation ( NVDA ) to a modest Buy rating: Heading into 2026, the AI infrastructure buildout is in full swing, with cloud hyperscalers, AI startups, and foreign governments primed to expand CAPEX spending over the upcoming quarters. And, given its dominant position in the AI market, Nvidia is likely to continue to experience an absolute windfall. And, with Groq in the bag, Nvidia appears better positioned for the shift in AI workloads from training to inference. From a valuation standpoint, I can see the sideways consolidation in Nvidia lasting another 6-12 months as business fundamentals catch up to the stock price. That said, looking 5 years out, Nvidia can deliver healthy double-digit returns to investors buying right here, right now. Therefore, I am upgrading Nvidia stock to a modest Buy rating, with a strong preference for staggered accumulation over lump sum purchase. Key Takeaway: I rate Nvidia a modest "Buy" at $186.50 per share. Source: Nvidia: $20B Groq Deal, Valuation, And More (Rating Upgrade) . And, with major hyperscalers providing explosive AI CAPEX spending guides for 2026, I was quite optimistic about Nvidia's prospects heading into its Q4 FY2026 report. In this note, we shall review Nvidia's quarterly results and business outlook to formulate a fresh investment decision. How Did Nvidia Fare In Q4 FY2026? For Q4 FY2026, Nvidia reported above-consensus headline numbers, with revenue growing +73% y/y to $68.1B (vs. est. $66.2B), and normalized EPS increasing +82% y/y to $1.62 per share (vs. est. $1.54 per share) . Nvidia Q4 FY2026 Earnings Nvidia's Data Center business once again drove the stronger-than-expected performance, powered by robust growth in both Compute [$51.3B, +58% y/y, +19% q/q] and Networking [$11B, +263% y/y, +34% q/q] revenues on the back of Blackwell (GB200 & GB300) scale-up, ramp of NVLink compute fabric, and growth of Etherne...

BING-JHEN HONG/iStock Editorial via Getty Images Introduction At the turn of the year, I upgraded Nvidia Corporation ( NVDA ) to a modest Buy rating: Heading into 2026, the AI infrastructure buildout is in full swing, with cloud hyperscalers, AI startups, and foreign governments primed to expand CAPEX spending over the upcoming quarters. And, given its dominant position in the AI market, Nvidia is likely to continue to experience an absolute windfall. And, with Groq in the bag, Nvidia appears better positioned for the shift in AI workloads from training to inference. From a valuation standpoint, I can see the sideways consolidation in Nvidia lasting another 6-12 months as business fundamentals catch up to the stock price. That said, looking 5 years out, Nvidia can deliver healthy double-digit returns to investors buying right here, right now. Therefore, I am upgrading Nvidia stock to a modest Buy rating, with a strong preference for staggered accumulation over lump sum purchase. Key Takeaway: I rate Nvidia a modest "Buy" at $186.50 per share. Source: Nvidia: $20B Groq Deal, Valuation, And More (Rating Upgrade) . And, with major hyperscalers providing explosive AI CAPEX spending guides for 2026, I was quite optimistic about Nvidia's prospects heading into its Q4 FY2026 report. In this note, we shall review Nvidia's quarterly results and business outlook to formulate a fresh investment decision. How Did Nvidia Fare In Q4 FY2026? For Q4 FY2026, Nvidia reported above-consensus headline numbers, with revenue growing +73% y/y to $68.1B (vs. est. $66.2B), and normalized EPS increasing +82% y/y to $1.62 per share (vs. est. $1.54 per share) . Nvidia Q4 FY2026 Earnings Nvidia's Data Center business once again drove the stronger-than-expected performance, powered by robust growth in both Compute [$51.3B, +58% y/y, +19% q/q] and Networking [$11B, +263% y/y, +34% q/q] revenues on the back of Blackwell (GB200 & GB300) scale-up, ramp of NVLink compute fabric, and growth of Etherne...

Nvidia: Basking In The Glory Of AI CAPEX Windfall Seeking Alpha

格隆汇2月26日｜纽约期金突破5200美元/盎司，日内跌0.50%。

智通财经获悉，人工智能(AI)芯片霸主英伟达(NVDA.US)再一次公布了堪称“炸裂”的业绩。在近期Anthropic一系列产品发布和Citrini的“末日报告”加剧投资者恐慌之际，英伟达这份最新业绩继续证明，AI产生的需求依然强劲，AI基础设施的大规模建设仍在正轨上。 财报显示，在截至1月25日的2026财年第四财季，英伟达营收同比增长73%，至创纪录新高的681亿美元，好于分析师普遍预测的659亿美元。按业务划分，数据中心业务(负责其行业领先的AI加速器和网络产品)第四财季营收同比增长75%至623亿美元，同样创纪录新高，好于分析师普遍预测的604亿美元。不过，其他业务表现相对较弱。游戏业务(曾是英伟达营收的主要来源)营收同比增长47%至37.3亿美元，低于分析师普遍预测的40.1亿美元;汽车业务营收同比增长6%至6.04亿美元，不及分析师普遍预测的6.43亿美元。 盈利方面，在Non-GAAP会计准则下，营业利润同比增长81%至461亿美元，净利润同比增长79%至396亿美元。调整后的每股收益为1.62美元，好于分析师普遍预测的1.53美元。 调整后的毛利率为75.2%，同样略高于分析师普遍预测。英伟达首席财务官Colette Kress称，毛利率的同比改善来自“库存计提减少”，环比改善则与Blackwell芯片持续放量带来的“更优产品结构与成本结构”相关。 更令投资者感到鼓舞的是，英伟达还给出了超出预期的2027财年第一财季业绩指引。英伟达预计，第一财季营收为780亿美元(上下浮动2%)，大幅超出分析师普遍预测的728亿美元，且意味着同比增速加快至77%。 分析指出，英伟达第四财季总营收与数据中心营收双双超预期并创新高，毛利率随着新一代架构Blackwell芯片的生产爬坡继续改善，且在未计入部分中国市场收入的情况下对2027财年第一财季的指引更强劲，强化了AI算力需求韧性的叙事，有助于缓解市场对AI投资泡沫的担忧。 英伟达首席执行官黄仁勋表示：“我们的客户正竞相投资AI算力——这些算力工厂正为AI工业革命及其未来增长提供动力。”黄仁勋已多次淡化有关AI硬件支出不可持续的担忧。他认为，用能够实现生产力飞跃的机器取代全球现有的旧电脑设备基础将需要数年时间。 值得注意的是，笼罩科技行业的一大阴云是存储芯片短缺。与电子行业大部分企业一样，英伟达产品依赖这些组件的稳定...

Minimax发文介绍 MiniMax Agent Expert 的功能升级，同步介绍 MaxClaw。在 Expert 2.0 中，进一步优化了专家 Agent 的创建体验。用户不需要考虑 Skill、SubAgent、MCP 的配置，以及提示词的结构编排——只需用自然语言描述任务目标或能力需求，Agent 会根据目标完成 SOP 梳理、工具编排与能力配置。与 Expert 2.0 升级同步，我们上线 MaxClaw，基于 OpenClaw 构建的云端 AI 助手，直接集成在 MiniMax Agent 网页端，为你在云端部署并运行 OpenClaw，无需自备服务器或 API Key。MiniMax Agent 基础版订阅会员即可体验。

1月16日早间，June Glory International Limited与五矿地产有限公司在港交所联合公告，寄发有关June Glory International Limited根据公司法第99条以计划安排方式私有化五矿地产及撤销其上市地位的计划文件。法院会议及股东特别大会计划将分别于2026年2月9日上午十时正及上午十时三十分于香港举行。若获通过，五矿地产股份预计将于2026年3月3日撤销在联交所的上市地位。计划已于二零二六年二月二十五日（星期三）（百慕达时间）获法院批准（并无修订）。

SlavkoSereda/iStock via Getty Images Crude oil futures finished little changed Wednesday as a much larger-than-expected build in U.S. crude stocks failed to ease worries about the threat to oil supply from a potential military conflict between the U.S. and Iran. A third round of nuclear negotiations is scheduled to start Thursday in Geneva, but President Trump laid out his case for a possible attack on Iran in his State of the Union speech, calling Iran "by far" the world's biggest sponsor of terror and saying that he would not allow the country to possess a nuclear weapon. Saudi Arabia reportedly has activated a plan for a short-term surge in oil production and exports in the event a U.S. strike against Iran disrupts shipments of oil from the Middle East. U.S. crude oil inventories rose by 16M barrels last week to 435.8M barrels, their largest weekly build since February 2023 and well above expectations, as imports increased and refinery utilization fell, the Energy Information Administration reported . Imports rose by 136K bbl/day and exports fell 277K bbl/day, while crude input to refineries dropped by 416K bbl/day from the previous week, and product stocks were mixed, with gasoline inventories down by 1M barrels and distillates up 252K barrels, the EIA said. The oil price impact from the " bearish [EIA] report with a large crude build... however was limited, as the oil market remains more influenced by other factors at present, such as geopolitical tensions in the Middle East," UBS commodity analyst Giovanni Staunovo said in a note. Also, OPEC+ is said to be considering a 137K bbl/day output increase in April, a move that would end a three-month pause in production hikes. Finally, the Trump administration said it is loosening some restrictions on fuel shipments to Cuba, allowing the resale of Venezuelan oil on a case-by-case basis to Cuba's small private sector "that support the Cuban people," while sales to the ruling Communist government remain illegal. U.S. c...

Sezzle Inc. (SEZL) delivered earnings and revenue surprises of +26.04% and +1.24%, respectively, for the quarter ended December 2025. Do the numbers hold clues to what lies ahead for the stock?

TaskUs (TASK) delivered earnings and revenue surprises of +10.35% and +2.94%, respectively, for the quarter ended December 2025. Do the numbers hold clues to what lies ahead for the stock?

Snowflake (SNOW) delivered earnings and revenue surprises of +19.18% and +2.42%, respectively, for the quarter ended January 2026. Do the numbers hold clues to what lies ahead for the stock?

Synopsys (SNPS) delivered earnings and revenue surprises of +5.71% and +0.75%, respectively, for the quarter ended January 2026. Do the numbers hold clues to what lies ahead for the stock?

Nutanix (NTNX) delivered earnings and revenue surprises of +27.94% and +1.27%, respectively, for the quarter ended January 2026. Do the numbers hold clues to what lies ahead for the stock?

Pure Storage (PSTG) delivered earnings and revenue surprises of +5.83% and +2.54%, respectively, for the quarter ended January 2026. Do the numbers hold clues to what lies ahead for the stock?

RxSight (RXST) delivered earnings and revenue surprises of +87.14% and +0.02%, respectively, for the quarter ended December 2025. Do the numbers hold clues to what lies ahead for the stock?

Getty Images By Jennifer Nash Home prices increased in December as the benchmark national index rose for a fifth straight month. The seasonally adjusted home prices for the national index saw a 0.4% increase month-over-month and a 1.3% increase year-over-year. After adjusting for inflation, the monthly change fell to 0.1%, and the annual change fell to -2.0%. The S&P Case-Shiller benchmark 20-City composite aims to measure the value of residential real estate in the following 20 major U.S. cities: Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa, and Washington, D.C. The benchmark 20-city index increased for a fifth straight month in December. The seasonally adjusted home prices for the 20-city index saw a 0.5% increase month-over-month and a 1.4% increase year-over-year. After adjusting for inflation, the monthly change was reduced to 0.2%, and the annual change fell to -1.9%. The S&P Case-Shiller benchmark 10-City composite, a subset of the 20-city index, aims to measure the change in value of residential real estate in the following 10 major U.S. cities: Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, and Washington, D.C. The benchmark 10-city index was up for a fifth straight month in December. The seasonally adjusted home prices for the 10-city index saw a 0.5% increase month-over-month and a 2.0% increase year-over-year. After adjusting for inflation, the monthly change was reduced to 0.2%, and the annual change fell to -1.4%. Here is the analysis from today's Standard & Poor's press release : ANALYSIS “With December's results, we can now assess 2025's full-year performance in historical context,” said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices. "National home prices grew just 1.3% for the year — the weakest full-year gain...

sompoch sivakosit/iStock via Getty Images Market Overview Risk assets in general capped off a strong year with a solid fourth quarter. In contrast with recent trends, non-US equity markets led the way in 2025. While the threats to market stability that have prevailed throughout the year were undiminished during the quarter, investors continued to embrace risk. The S&P 500 Index gained 2.7% for the fourth quarter and 17.9% for the year, while the MSCI EAFE Index returned a respective 4.9% and 31.2%. Notably, 2025 was only the third year in the past 10 that the MSCI EAFE has outperformed the S&P 500. Gold, meanwhile, surged 65% during the year, its largest annual return since 1979. 1 The US Double Bind Gets Tighter Despite ample motivation for conservatism in an environment of pronounced macro, financial, geopolitical and structural concerns, risk perception in US markets remains low pretty much wherever you look. Equity market valuation multiples are rich, high yield spreads are tight and implied volatility is low. 2 While the post-pandemic normalization of certain macro factors has been encouraging, the country's fiscal settings remain far off-kilter. The US federal deficit remains historically outsized relative to the unemployment rate—as it has since the outbreak of Covid-19. 3 Normally, high unemployment rates and recession beget large fiscal deficits, as lower tax revenues combine with increased government spending. Conversely, low unemployment rates and robust economic growth typically support higher tax revenues and tighter fiscal policy, causing deficits to contract or even turn into surpluses. If the economy were in balance, we'd expect budget deficits of around 2% of GDP—not the 5.8% at the end of fiscal year 2025. 4 We believe this persistent deficit spending helps explain the decoupling of gold and Treasuries seen in recent years. The price of gold surged 65% during 2025—its largest annual gain since 1979—and has more than doubled over the past two years ...

Key PointsManagement is positioning the company to benefit from a potential premium in Western lithium prices.

健世科技2月26日在港交所公告，公司的经导管主动脉瓣置换系统Ken-Valve和经血管三尖瓣置换系统LuX-Valve Plus已于近日取得新西兰药品和医疗器械安全局的注册批准，公司正积极推动两款产品于新西兰的商业化。

《科创板日报》2月26日讯（记者 徐红） 2025年，全球“药王”宝座完成了一次引人瞩目的更迭，礼来的“明星单品”替尔泊肽以365.07亿美元的骄人战绩强势登顶，成为新一届全球药物销售冠军。 紧随其后的，是其老对手诺和诺德的司美格鲁肽，2025年销售额达到361亿美元，以4亿美元的微小差距位居次席。 替尔泊肽和司美格鲁肽同属GLP-1受体激动剂家族。它们的双双登顶，不仅是GLP-1类药物的一次重大胜利，也标志着代谢性疾病的治疗进入了一个全新时代。其核心适应症——2型糖尿病和肥胖症，正影响着全球数亿患者，市场潜力巨大。特别是近年来减肥市场的爆发性增长，成为了推动这场“药王”更迭的关键引擎。 在这一场激烈的角逐中， 替尔泊肽的崛起速度尤其令人称奇，从2022年获批上市，到2025年问鼎“药王”，全程仅用了不到四年 ，刷新了行业纪录。 在许多人看来，它的成功关键在于其创新的双靶点作用机制。然而鲜有人知的是，如同众多传奇药物一样，替尔泊肽的登顶绝非偶然。它的背后，是一段曾被长期忽视的靶点逆袭之路，是科研路上无数次挫败后的不懈坚持，更是一场由时机、科学与信念共同铸就的传奇。 ▌GLP-1的崛起与“药王”更迭 全球药品百强榜从来不只是商业销售的成绩单，它还是映照行业未来的“风向标”。正因如此，“药王”之争向来就备受瞩目。 回顾过去十余年，最具代表性的“药王”当属艾伯维的修美乐（Humira，阿达木单抗）。它曾创下连续九年（2012-2020年）霸榜的超长记录，销售额从2012年的93亿美元一路攀升至2020年的198亿美元，几乎以一己之力定义了一个时代。 随后，辉瑞与BioNTech联合开发的新冠疫苗Comirnaty凭借疫情红利，在2021年以368亿美元、2022年以378亿美元的销售额两度摘冠。然而，其巅峰如潮水般来得迅猛，也随着疫情平息而快速褪去。 2023年起，“药王”宝座迎来新主，由默沙东的PD-1抑制剂K药（Keytruda）接棒，2023年销售额达到250亿美元，2024年又进一步攀升至295亿美元。 此次替尔泊肽（Tirzepatide）的登顶是荣光的更迭，也是新一代“药王”的加速崛起。从上市到摘得“药王”桂冠，用时还不到4年，相比修美乐的11年、K药的10年，呈现出惊人的“加速”趋势。 而且属于替尔泊肽的时代或许才刚刚开启。有预测指出，到2030年，全球销售...

对于此前对Anthropic和OpenAI的投资，英伟达CEO黄仁勋在电话会上表示，英伟达已接近与OpenAI达成协议，公司在投资战略上明确专注于扩大生态系统并深入填补生态系统缺口。此外，此前英伟达与Groq达成一项非排他性技术许可协议，黄仁勋称英伟达将利用Groq的技术进行扩展，以达到更高级别的AI基础设施性能和价值。（第一财经）

Amazon.com (NasdaqGS:AMZN) has surpassed Walmart to become the largest U.S. company by annual revenue, taking the top spot on the Fortune 500. At the same time, AI research leader David Luan is departing, with Peter Desantis stepping in to oversee Amazon’s AI research efforts. These developments coincide with Amazon’s move to integrate its AGI division more closely with AWS. For investors watching Amazon.com at a share price of $210.63, this revenue milestone highlights how far the company...

Alphabet, parent of Google (NasdaqGS:GOOGL), has entered into major energy deals with Xcel Energy in Minnesota and AES Corporation in Texas to supply new data centers with large-scale clean power. The partnerships include plans for what is described as the world's largest iron air battery system and multi decade energy infrastructure commitments tied to Google's facilities. These projects are designed to support rising power needs from AI and cloud computing while responding to regulatory...

当地时间25日，安理会就中非共和国局势举行公开会。中方在发言中表示，近期，中非成功举行总统、立法、地区和市政选举，图瓦德拉总统实现连任，这是中非和平进程的重要里程碑，中方表示祝贺。国际社会要乘势而上，继续帮助中非巩固当前良好势头，早日实现持久和平与发展繁荣。中方指出，中非下一步需重点加强国家治理体系和能力建设。暴力方式没有出路，中方呼吁已加入政治协议的武装团体真诚履行解除武装的承诺，敦促其他武装团体停止敌对行动，参与和平进程。中方表示，国际社会要加大对中非的援助和投资力度，提高民众福祉，增强政府公信力和号召力，彻底铲除滋生暴力的土壤，夯实持久和平的基础。（央视新闻）

Explore the exciting world of Technip FMC (NYSE: FTI) with our contributing expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities!*Stock prices used were the prices of

格隆汇2月26日｜泰德医药在港交所公告，预期截至2025年12月31日止年度的收入将介乎约5.55亿元至5.85亿元，同比增加约25.5%至32.3%；经调整净利润（非国际财务报告准则计量）将介乎约2亿元至2.3亿元，同比增加约16.3%至33.7%。公司董事会认为，收入增长主要是由于跟随分子战略的成功实施，以及公司一体化合约研究、开发及生产机构(CRDMO)平台的优势、行业领先的项目交付及时性以及卓越项目执行的优良往绩，及关键客户对公司服务的需求持续强劲增长。

A private credit fund jointly managed by Future Standard and KKR & Co. cut its dividend to 48 cents a share from 70 cents after earnings fell amid declining interest rates and losses tied to struggling investments. FS KKR Capital Corp. , a business development company that makes direct loans, said about 3.4% of the portfolio, or roughly $440 million, was on non-accrual at year-end, meaning the fund no longer expects to collect interest on those investments, up from 2.9% three months earlier. The fund, which had previously indicated its quarterly distribution would fall, faced “specific challenges associated with a few investments,” which weighed on results, Chief Executive Officer Michael Forman said in a statement . Shares slid roughly 4% in postmarket trading. During the quarter, loans to Dental Care Alliance , Gracent and Lionbridge Technologies were placed on non-accrual status. So were investments in AmeriVet Partners and Alacrity Solutions . Lenders including KKR took control of Alacrity early last year. FS KKR also marked down its loan to software company Medallia to about 79 cents on the dollar, from 91 cents in the prior quarter.