2026 年初的资本市场，显得有些拥挤。 如果你最近盯着科创板和港股的公告看，会发现一个很有趣的现象，中国的芯片公司正在排队敲钟。摩尔线程正式挂牌，燧原科技紧随其后，甚至连大厂内部孵化多年的阿里平头哥、 百度昆仑芯 ，也纷纷传出了分拆独立上市的消息。 这种场面，像极了当年互联网最狂热的时候。 但是，如果你仔细观察这些公司的故事，会发现一个尤其荒诞的现象。在面对投资人时，每一家都恨不得把“中国英伟达”的字样写到PPT上，但在实际的业务闭门会上，他们却在拼命撕掉这个标签，走上一条和英伟达完全相反的路。 这就是 2026 年中国芯片界最大的公开秘密，没人想做“中国英伟达”，但在上市之前，人人都得穿上这件衣服。 这是一场关于IPO估值的精巧表演，也是一场关于生存的战略撤退。 这波芯片上市潮背后的真实算盘，到底是什么？ 1、人人都想穿上英伟达的马甲 为什么这些明明走着不同路径的公司，在宣传时非要挂着英伟达这三个字。 原因非常简单：为了拉高估值。 在资本市场的估值逻辑里，英伟达是神。它的毛利、市场占有率和 CUDA 生态带来的高护城河，让它拥有了接近 40 倍甚至更高的市盈率。 对于一个中国芯片创业公司来说，如果你介绍自己是一家垂直领域专用加速器，投资人可能只会给你几亿美金的估值，但如果你说你是“中国英伟达”，这个数字后面可能就能直接加个零。 这种包装已经成了行业内一种心照不宣的伎俩，原因有几点： 调动市场情绪： 英伟达三个字自带流量。对于很多二级市场的散户甚至部分机构投资者来说，他们未必懂什么是异构计算，但他们懂英伟达股票翻了多少倍。只要把这个关联建立起来，就意味着拿到了某种暴涨入场券。 掩盖落后的生态： 复刻一个 CUDA（英伟达的软件生态）几乎是不可能的，但”中国英伟达”这个名头可以掩盖这种缺失。它给市场制造了一种幻觉，只要硬件性能跑分接近，这家公司maybe就是下一个霸主。 这种刻意调动市场情绪的行为，本质上是在用英伟达的光环给中国芯片公司的融资路修桥铺路。大家心里都清楚，这只是一张临时的入场券，等敲完钟，融完资，马甲也就该脱掉了。 2、CUDA，那道无法逾越的“叹息之墙” 首先我们得承认一个事实， 这世界上只有一家英伟达，因为这世界上只有一套 CUDA。 很多人觉得英伟达牛，是因为它的硬件性能好。但如果你去问那些整天调模型的工程师，他们会告诉你，英伟达最可怕的不是那块...

据媒体援引一位熟悉内情的人士的话报道， 波音 公司正在从其国防部门裁减约300个供应链岗位，并将于本周通知受影响的员工。 责任编辑：王永生

随着马年春晚的脚步愈发临近，AI行业掀起的“红包大战”愈演愈烈。 2月2日，阿里旗下千问高调官宣，其将豪掷30亿元启动“春节请客计划”。 而千问这一金额也将一举超越腾讯元宝、百度文心助手等同行，成为目前马年春节AI“红包大战”的“烧钱王”。 据悉，千问这场规模高达30亿级别的“春节请客计划”，并非单纯的现金补贴，而是千问联动阿里旗下全生态的战略布局，淘宝、闪购、飞猪、大麦、高德、盒马等核心业务悉数参战。 相较于同行——腾讯元宝侧重社交裂变、百度文心助手主打娱乐互动、字节豆包聚焦春晚联动，千问则走出了一条不一样的营销之路，将生态协同作为核心抓手，打造“AI+实体”服务闭环。 有分析认为，阿里千问烧钱换流量的打法，是其在AI C端市场与字节、腾讯、百度等互联网巨头围绕用户心智占领和流量入口地位展开的一场激烈角逐。 不过，阿里千问此番强势入局AI“红包大战”的背后，仍面临诸多挑战。 比如，其在C端布局方面稍显滞后，月活不及豆包等对手；而其主打的全生态服务闭环仍有待进一步完善，目前部分功能需跳转至相应App才能完成具体操作。 千问携30亿入场，AI“红包大战”愈演愈烈 2月2日，阿里旗下千问App正式宣布投入30亿元启动“春节请客计划”，该计划将于2月6日正式上线，核心围绕春节期间用户吃喝玩乐的各类高频场景展开，并推出免单、大额现金红包等优惠活动。 有互联网人士透露，千问此次30亿元的“春节请客计划”是阿里巴巴春节活动史上投入力度最大的一次，其投入规模在今年互联网行业的“春节AI竞赛”中也是截至目前最高的。 不过，目前，千问暂未对外披露具体的活动规则及细节。从宣传海报来看，千问此次发起的“春节请客计划”并非单一的补贴活动，而是与阿里生态下多个业务深度绑定的场景化服务拓展。 据悉，此次“春节请客计划”，千问将联动阿里旗下淘宝、闪购、飞猪、大麦、高德、盒马等众多应用共同参与。 而在其他产品仍以线上聊天为主时，千问借助春节这一线下消费高峰，以“会办事”的定位切入用户真实生活，推动AI从对话工具转向生活助理，并结合免单活动进行推广。 前述互联网人士表示，这背后体现的是阿里在AI技术能力与商业落地体系上的融合，其依托数字服务生态与供应链基础设施，构建出“AI+实体”的一体化链路。 事实上，这条赛道恰恰是阿里所独有的显著优势所在。阿里生态体系内汇聚了淘宝、支付宝、闪购、盒马、飞猪、高德...

格隆汇2月5日｜美联储理事库克：预计今年经济增速将略高于2%。

Image source: The Motley Fool. Feb. 4, 2026, 4:30 p.m. ET Call participants President and Chief Executive Officer — Chris Hillebrandt Chief Financial Officer — Sunit Patel Vice President, Investor Relations — Kris Hinson Takeaways Organic growth -- Achieved 4.9% organic growth in 2025, excluding Sprint churn, driven by ongoing 5G network augmentation by customers. -- Achieved 4.9% organic growth in 2025, excluding Sprint churn, driven by ongoing 5G network augmentation by customers. Site rental revenues -- Ended 2025 near the high end of guidance for site rental revenues, supported by organic growth and customer demand. -- Ended 2025 near the high end of guidance for site rental revenues, supported by organic growth and customer demand. Adjusted EBITDA and FFO -- Exceeded the high end of 2025 guidance range for both adjusted EBITDA and FFO due to higher service contribution, efficiency initiatives, and lower interest expense. -- Exceeded the high end of 2025 guidance range for both adjusted EBITDA and FFO due to higher service contribution, efficiency initiatives, and lower interest expense. 2026 guidance -- Projects 2026 site rental revenues of $3.9 billion, adjusted EBITDA of $2.7 billion, and AFFO of $1.9 billion at the midpoint, which excludes any contribution from DISH. -- Projects 2026 site rental revenues of $3.9 billion, adjusted EBITDA of $2.7 billion, and AFFO of $1.9 billion at the midpoint, which excludes any contribution from DISH. DISH contract termination -- Terminated DISH agreement in January 2026, seeking to recover over $3.5 billion in remaining payments and resulting in $220 million of churn in full-year 2026. -- Terminated DISH agreement in January 2026, seeking to recover over $3.5 billion in remaining payments and resulting in $220 million of churn in full-year 2026. Workforce reduction -- Announced a 20% reduction in tower and corporate workforce, targeting approximately 1,250 full-time employees, with $65 million in annualized run rate opera...

據報效力NBA獨行俠的安東尼戴維斯轉投巫師。 據外媒報道，交易包括八名球員，以及五個選秀權。32歲的安東尼戴維斯與哈迪、羅素及艾森四人離開獨行俠；巫師交出米度頓、巴格利等四人，另加兩個首輪選秀權，以及三個次輪選秀權。 安東尼戴維斯是2012年NBA選秀狀元，生涯10度入選全明星賽。去年2月被湖人交易至獨行俠，當時為湖人換取當錫。

英格蘭聯賽盃四強次回合，曼城主場3-1擊敗衛冕的紐卡素，以總比數5-1，晉級決賽對阿仙奴。 藍衫曼城帶著兩球優勢回主場，7分鐘將比數進一步拉開。馬莫殊左路快放，入禁區被賀爾鏟跌都撞入，領先1-0。今次門將由當拿隆馬換上查福特，出迎夠快，封走韋洛克空門機會。 曼城之後繼續攻，雷恩達斯窄位勁射，被蘭斯達爾拍到。施美安橫傳，尼高奧萊利來遲一步。紐卡素力追，但都是過不到查福特，包括安東尼哥頓這次機會。 壓上進攻，被曼城找到反擊機會，施美安傳中，解圍鏟高，馬莫殊加一頭頂入，29分鐘拉開到2-0。 曼城全場19次攻門，9次中目標。3分鐘後，再有反擊，雷恩達斯傳給施美安，右路扣大位，守衛篤走變成助攻，雷恩達斯後上射入，曼城贏到3-0。 紐卡素完半場前作出四個調動，其中一位入替的艾蘭加，換邊後一人之力，由右邊路帶入禁區，射遠柱入，62分鐘追近到1-3。6分鐘後，另一後備兵哈維班尼斯都射入，不過助攻的韋沙越位在先，入球無效。 下半場紐卡素攻勢增多，但把握力一般，艾蘭加送入中路，韋沙近門錯失機會。曼城的夏蘭特71分鐘入替，尾段有機會入球，但被蘭斯達爾撲走。另一次機會，結果一樣，曼城維持贏3-1，以總比數5-1，繼2021年再入決賽，將與阿仙奴爭冠。

Massimo Giachetti/iStock Editorial via Getty Images V.F. Corp. ( VFC ) sells branded apparel, footwear, and accessories globally. Its most well-known brands are The North Face, Timberland, and Vans, to name a few. I started covering the firm back in July 2022, with an initial neutral rating , which I later downgraded to a sell, and I've kept that rating ever since. The reasons for the downgrade were deteriorating profitability metrics, unattractive valuation, and concerns about the dividend safety. Analysis history (Author) The aim of this article today is to assess whether the previously established bearish view is still valid or not, especially after the stock's strong price performance in the second half of 2025. For my discussion today, I will be relying on the firm's latest earnings report , on macroeconomic indicators - e.g., consumer confidence—and on a set of traditional price multiples to comment on the valuation. Quarterly Earnings For the sake of comparability and representativeness, I will be looking at VFC's results excluding Dickies. So let us start the discussion by looking at the firm's revenue figures. Sales VFC's revenues grew by 4% compared to the prior year. This quarter was one of only three quarters in the past nine quarters that achieved a positive revenue growth, so these results are something to be optimistic about. It is also important to note that the growth was achieved without negatively impacting the firm's profitability. In fact, the company's gross margin expanded by as much as 10 bps, while its SG&A expenses as a percentage of revenue decreased by 20 bps. These led to an operating margin improvement of 30 bps year-over-year. Results (V.F. Corp) These figures also turned out to be better than what the company guided for earlier. Their guidance for revenue was negative 1% to 3% for revenue growth, which was outperformed due to the stronger-than-expected holiday season, mainly driven by strength in The North Face and Timberland brands, ...

AustralianSuper , the country’s largest pension fund, is hunting private equity deals in Asia to boost its growing portfolio of unlisted assets, according to Chief Executive Officer Paul Schroder . The A$410 billion ($287 billion) fund has yet to unveil a precise allocation target, but intends to deploy significant sums across the region in an effort to expand its private markets holdings, which stood at A$85 billion as of 30 June last year. Listen and follow The Bloomberg Australia Podcast on Apple , Spotify , YouTube or wherever you get your podcasts. “We are diversifying and thinking about Asia, especially through the PE lens,” Schroder said in an interview Thursday with Bloomberg Television in Melbourne. “We’re just at the beginning of our plan to expand our PE exposures in Asia.” The pivot to Asia would place the region as a key area of growth for the fund’s private equity allocation, which currently represents around 4% of its overall portfolio, but may increase to 10% as the fund grows, Schroder said. Plans to beef up its private markets exposure in the region follow a run of new deals with external fund managers in the US and Europe. Last year, Mark Delaney , the fund’s outgoing chief investment officer, told Bloomberg it was finalizing four new commitments with external private equity fund managers. The pension fund currently has 5.1% of its balanced portfolio invested in private equity. Schroder said AustralianSuper’s Asia PE strategy was to look for opportunities to “co-underwrite, co-invest with deep partners.” “I don’t want to foreshadow exactly what we’ll be doing and where, but I think it’s more likely that those opportunities will exist in those strong, more developed nation economies where we’ve already got existing connections,” Schroder said. AustralianSuper’s expected boost to private equity also comes amid a recent run of underperformance. AustralianSuper’s default option gained 9.5% for the year through June, 2025, lagging the industry average ...

(RTTNews) - The Malaysia stock market has moved lower in consecutive trading days, slipping more than 7 points or 0.4 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,575-point plateau and it's likely to open under water again on Friday. The global forecast for the Asian markets is negative, with retail and technology stocks likely to fall under pressure. The European and U.S. markets were down and the Asian bourses figure to follow that lead. The KLCI finished slightly lower on Thursday as losses from the plantations and telecoms were mitigated by gains from the financials. For the day, the index slipped 3.21 points or 0.20 percent to finish at 1,577.67 after trading between 1,572.51 and 1,581.49. Among the actives, 99 Speed Mart Retail soared 2.96 percent, while Axiata tumbled 1.43 percent, Celcomdigi slumped 0.88 percent, CIMB Group collected 0.72 percent, Gamuda rallied 2.00 percent, Kuala Lumpur Kepong and Nestle Malaysia both fell 0.29 percent, Maxis tanked 2.56 percent, Maybank and PPB Group both shed 0.57 percent, MISC jumped 1.81 percent, MRDIY surged 3.57 percent, Petronas Chemicals plummeted 4.88 percent, Petronas Dagangan plunged 3.22 percent, Petronas Gas slid 0.23 percent, Press Metal spiked 2.16 percent, Public Bank declined 1.10 percent, QL Resources advanced 0.87 percent, RHB Bank dropped 0.75 percent, SD Guthrie sank 0.62 percent, Sunway rose 0.22 percent, Telekom Malaysia retreated 1.30 percent, Tenaga Nasional lost 0.43 percent, YTL Corporation climbed 1.50 percent and YTL Power, IHH Healthcare, IOI Corporation, Sime Darby and Hong Leong Financial were unchanged. The lead from Wall Street is weak as the major averages opened lower on Thursday and remained in the red throughout the session. The Dow plummeted 450,94 points or 1.01 percent to finish at 44,176.65, while the NASDAQ stumbled 93.89 points or 0.47 percent to close at 19,962.36 and the S&P 500 sank 26.63 points or 0.43 percent to end at 6,117.52. The early...

A documentary about First Lady Melania Trump surpassed most estimates for its opening box office revenue. Here's a look at what may have helped the film's success, why the film can't be called a success story for Amazon.com Inc (NASDAQ:AMZN) yet, and the early international box office figures being turned in. “Melania” Box Office Performance ‘Melania' grossed an estimated $7 million in its opening weekend, which beat expectations that were in the $2 to $5 million range. The film also posted one of the best opening weekends for a documentary in decades. The film was helped by several items that may not have been factored enough into estimates. ‘Melania' performed well in Republican states and rural small-town areas, as reported by Deadline. Don't Miss: The AI Marketing Platform Backed by Insiders from Google, Meta, and Amazon — Invest at $0.85/Share Deloitte's #1 Fastest-Growing Software Company Lets Users Earn Money Just by Scrolling — Accredited Investors Can Still Get In at $0.50/Share. Also helping the film was a mostly female audience, with some groups attending the film together. Women made up 72% of the audience, with people aged 55 or older also representing a large percentage of the film's audience. Overall, it was older women in small towns that helped propel the film's box office. The film outperformed in states like Texas and Florida, where President Donald Trump has performed well in elections. Big cities such as New York and Los Angeles saw the film underperform. Amazon spent $35 million on the marketing efforts of the film, which included buying ads on social media platform X, putting an ad on the outside of the iconic Las Vegas Sphere venue and buying prime advertising slots during NFL Playoff games before the film's release. Also likely helping the film's marketing was tweets made by Trump multiple times before the film's Friday premiere and X owner Elon Musk retweeting a post about the film. Trump and Musk are two of the most followed accounts on X ...

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美联储理事库克：在看到更有力的证据表明通胀正向2%迈进之前，我的重点将放在使通胀降至2%水平。 目前风险更偏向于通胀走高的一侧。 恢复去通胀（disinflationary）路径并在近期内实现通胀目标至关重要。 我对通胀路径持乐观态度，但同时也保持谨慎和警惕。 美国通胀已顽固地停留在2%目标上方。 相信劳动力市场将继续受到去年美联储降息举措的支持。 劳动力市场已趋于稳定且大致处于平衡状态，但我高度关注其发生快速转变的可能性。 担心AI投资成本与生产率提升之间可能存在时间上的错配。 美国经济表现稳健，但有迹象显示中低收入家庭的前景正在恶化。 预计关税影响消退后，去通胀进程可能会恢复，但其中存在“巨大的不确定性”。 疲软的消费者信心并未释放出可以通过美联储利率政策来解决的“经济松弛加剧”信号。 预计今年美国经济增速将略高于2%。 美联储能做的最好的事情就是确保通胀回归并维持在目标水平。

Cathy Zhang, head of Asia-Pacific equity capital markets at Morgan Stanley, sounded hoarse after a day of back-to-back meetings with companies keen to go public in Hong Kong. “It’s very possible that the value and number may exceed last year’s IPO figures, given the momentum we have seen in January,” Zhang said in an interview on January 30. Nearly 100 companies filed for stock offerings in the city last month, more than triple the same period in 2025, a year which saw Hong Kong crowned as the world’s top IPO venue. While that title was earned with 114 listings that raised US$37.2 billion over the whole year, more than 450 companies are already in the pipeline for 2026. Advertisement “This year definitely has a stronger start. … [It] is the busiest ever when I compare it to the last 20 years in Hong Kong,” Zhang said. “The pipeline will be more diversified across different sectors compared with last year. Tech, healthcare and industrials are expected to be the three most active sectors.” Many artificial intelligence and robotics companies were also coming to the market, including humanoid and traditional industrial robot makers, alongside firms in industrial automation and players in clean and new energy, according to Zhang. Advertisement

damedeeso/iStock via Getty Images Software stocks have been battered, beaten, and bruised over the last few months. While the tech sector at large has not had a good time YTD, it has re-rated lower. This provides buying opportunities for investors willing to buy into the pain and potentially scoop up good deals. Bloomberg I'm on record saying that this move, and others in high-beta sectors, is temporary and not some grand realignment of factor performance; see my article from a few weeks ago, " It's Not a Great Rotation. " Instead, I think that this is an overdue correction, and the fact that it's overdue by a few years makes it all the more violent. You have to zoom out to the whole bull market that started a decade ago to really get more perspective on this sell-off. Data by YCharts The velocity of the sell-off is still pretty startling, even if it's a correction for years of outperformance; the dive is similar to past market crashes. The culprit is Anthropic ( ANTHRO ) and their latest update for their agentic coding tools . They added support for legal tasks, a big step in tackling regulatory hurdles for AI firms. I smell opportunity. Software Ate the World, Then AI Ate Software The narrative behind the meltdown is fairly simple: the market believed that software stocks could really grow forever. An extremely low marginal cost to sales (the cost of selling one more copy of Windows is negligible compared to the cost of making Windows), the ability to access the global market with ease due to the Internet (the barrier is the speed of light), and profit margins that could infinitely expand—to their credit, tech stocks at large have been great centers of profit-making over the last 45 years. Topdown Charts The rise of the subscription economy and software-as-a-service enterprises ("SaaS") gave way to a dominant sector that is now being unraveled by upstart AI companies, at least according to the ongoing market narrative . I never give full credence to what I hear ou...

India’s billionaire-tycoons are under fire, from Gautam Adani ’s US indictment for bribery to Mukesh Ambani ’s purchase of Russian oil cargoes that drew scathing criticism from Washington. Yet the titan facing the most number of business challenges isn’t really a billionaire: Tata Sons Private Ltd. Chairman Natarajan Chandrasekaran , the only non-founder, non-heir at the helm of a major Indian conglomerate. After a terrible year that included Air India’s deadly plane crash and a Jaguar Land Rover cyberattack so bad it dented the UK’s GDP, Chandra, as he is known, is under pressure to lift the fortunes of India’s oldest business house. His success will determine the appetite for professional management in a society still devoted to dynasties. Outsiders are vulnerable in India's cliquey industries: Vishal Sikka — the first professional CEO at Infosys Ltd. — resigned in 2017 after public criticism from founders despite delivering strong business growth. Chandra is working on multiple high-stakes bets before his second term expires in 2027. For now, Chandra has the advantage of support from the Tata Trusts — the powerful collective of 13 charities that indirectly controls the group and spent much of last year distracted by infighting after the death of patriarch Ratan Tata in 2024. While Noel Tata — Ratan’s half-brother who now heads the Trusts — is still settling into his new role, the trustees are backing 62-year-old Chandra to chart the conglomerate’s next chapter, people familiar with the matter say. Nonetheless, the clock is ticking for Chandra to show progress on multiple priorities this year: bringing Air India into the black after last year’s crash, stabilizing its car business including crown jewel JLR, finding a new direction for cash-cow unit Tata Consultancy Services Ltd. as AI roils the consultancy sector, and delivering on perhaps his highest-stakes bet -- India’s first homegrown semiconductor chips. “This outsider status amplifies power struggles in subtl...

Females may be just as likely to be autistic as males but boys are up to four times more likely to be diagnosed in childhood, according to a large-scale study. Research led by the Karolinska Institutet in Sweden scrutinised the diagnosis rates of autism for people born in Sweden between 1985 and 2020. Of the 2.7 million people tracked, 2.8% were diagnosed with autism between the ages of two and 37. They found that by the age of 20, diagnosis rates of men and women were almost equal, challenging previous assumptions that autism is more common among males. “Our findings suggest that the gender difference in autism prevalence is much lower than previously thought, due to women and girls being underdiagnosed or diagnosed late,” said the lead author, Dr Caroline Fyfe. The research calculated that in childhood, boys were diagnosed on average nearly three years earlier than girls – the median age at diagnosis was 15.9 for girls, but 13.1 for boys. Overall, boys were three to four times more likely than girls to be diagnosed with autism under the age of 10, although girls were found to “catch up” by the time they were 20, owing to a rapid increase in autism diagnosis during adolescence. “These observations highlight the need to investigate why female individuals receive diagnoses later than male individuals,” the authors conclude. The study, published in the BMJ, also found that while gender disparities in diagnosis rates remained pretty consistent over the last three decades for children under 10, they decreased rapidly for all other age groups. “Findings indicate that the male to female ratio for autism spectrum disorder has decreased over time and with increasing age at diagnosis,” the authors observe. “This male to female ratio may therefore be substantially lower than previously thought, to the extent that, in Sweden, it may no longer be distinguishable by adulthood.” Patient and patient advocate Anne Cary, writing in a linked editorial, said the research supported arg...

美國總統特朗普近日多次公開表示，愛潑斯坦案已是「陳年舊事」，國家應將注意力轉向其他事務。隨著美國司法部近期公布超過300萬頁相關文件，案件再次引發全球媒體巨大關注。新華社分析指出，特朗普政府急於將此案「翻篇」，主要原因在於其本人、政府官員及盟友深陷其中，正面臨嚴重的政治與輿論衝擊。 文件揭示廣泛牽連 特朗普被提及逾千次 根據美國司法部1月30日的宣布，已完成對愛潑斯坦案相關文件的審查，並陸續公布總計超過300萬頁的文件、2,000多段視頻和18萬張圖片。司法部根據國會法案合共公布了約350萬頁相關檔案。 美國有線電視新聞網（CNN）報道指出，特朗普本人在這些文件中被提及超過1,000次，內容包括新近披露但尚未核實的性侵指控，以及受害者描述與這位「未來總統」互動的細節，顯示出特朗普與愛潑斯坦長達數十年的友誼。特朗普則聲稱這是一場針對他的「陰謀」。 除特朗普外，多名與其關係密切的人物也在文件中出現，包括商務部長盧特尼克、被提名為美聯儲主席的沃什、富商馬斯克，以及特朗普首個任期內的顧問班農等，引發多方關注。 政府「步步失分」 急於轉移輿論焦點 新華社分析認為，特朗普政府在案件檔案公布過程中「步步失分」，導致一波波負面輿論。事實上，公布愛潑斯坦案文件本是特朗普競選總統時的承諾，但其上任後並未履行。直至2025年11月國會以壓倒性多數通過《愛潑斯坦檔案透明法》後，司法部才於最後期限（2025年12月19日）開始分批公布，過程拖延數月，且大量文件遭塗黑，引發各界質疑。 推動該法案的民主黨眾議員康納指出，司法部稱收集了超過600萬頁可能相關的文件，但經審查塗黑後僅公布約350萬頁，令人質疑其餘文件為何未被公布。此外，司法部在發布文件後，因技術或人為錯誤導致近100名受害者的姓名和個人信息被曝光，引發眾怒後緊急撤下數千份文件，這一「烏龍」事件更令人質疑「塗黑到底是在保護誰」。 面對這樣一個持續引發質疑和負面影響的話題，淡化影響、轉移熱點成為特朗普政府的當務之急。 案件難快速淡化 民主共和兩黨鬥爭或令其持續發酵 即使特朗普政府希望案件盡快淡出公眾視野，但分析認為其很難快速淡化。文件中被塗黑的部分、未被公布的剩餘文件，以及受害者律師的持續追責，都可能引發新的國會質詢或法律訴訟。此外，案件牽涉美國政商界眾多重磅人物，在即將到來的中期選舉中，可能成為政治對手相互攻擊的「彈藥」。 分析又提到...

Key Points Nvidia has been working closely with this particular AI player. Nvidia, considering its knowledge of the AI market, may have what it takes to identify tomorrow’s AI winners. 10 stocks we like better than CoreWeave › Nvidia (NASDAQ: NVDA) is a key player in the artificial intelligence (AI) arena, as designer of the world's top-performing AI chips. These graphics processing units (GPUs) fuel some of the most critical AI tasks, and their speed and overall efficiency have helped them to dominate the market. This product, along with a whole portfolio of related tools and services, has helped Nvidia to bring in significant revenue growth quarter after quarter in recent years. But this market giant isn't only a designer of AI products. It's also an investor in other key AI players. Nvidia held a $4.3 billion stock portfolio as of the end of the third quarter, and more than 85% of it was invested in one AI company. Should you follow Nvidia into this high-growth player? Let's find out. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » An AI cloud specialist Not only does Nvidia invest in this company, but the two also work together. This player that has attracted Nvidia's attention and investment is CoreWeave (NASDAQ: CRWV), an AI cloud specialist. CoreWeave offers its customers the ability to rent its Nvidia GPUs to suit their needs. This means they don't have to build out their own infrastructure -- a costly and lengthy effort -- and instead can rely on CoreWeave's already existing fleet. Customers may count on gaining access to the very latest Nvidia has to offer, as CoreWeave, following the past two launches -- Blackwell and Blackwell Ultra -- was the first to make those systems generally available. All of this has helped CoreWeave to deliver soaring revenue in recent times. For example, in the latest period, revenue jumped to in the triple-digits to $1.3 billion. Now, let's c...

2月3日上午，《QuestMobile 2025全景生态流量年度报告》发布。 数据显示，2025年12月，红果免费漫剧异军突起，月活跻身短剧类App TOP3，仅次于红果短剧和河马剧场。DataEye研究院亦有数据指出，2025年是漫剧爆发元年，全年市场整体播放量突破700亿，全年上线漫剧数量达46931部，并在下半年呈现出明显的阶梯式增长。 当短剧持续改写内容消费结构，漫剧这一介于“短内容”与“动画形态”之间的新物种，开始被频繁拿来与长视频动漫对照讨论。 想得出答案并不容易，但可以确定的是，漫剧已经站在了长视频动漫的门口。 体量扩张之下，漫剧与国漫的“错位对照” 如果仅从播放量、上线数量等显性指标出发，漫剧在2025年的表现，极易被理解为一种“动画内容的降维形态”。更快的生产速度、更低的制作门槛，以及高度可复制的内容模板，使其在极短时间内完成了体量积累，并迅速填充了用户的碎片化观看场景。 相较之下，根据灯塔专业版发布的《灯塔2025年动漫市场报告》，去年全年动漫市场大盘正片播放量仅500亿出头，在体量层面并不占明显优势。但进一步拆解结构可以发现，这并非同一维度的竞争。 在全年406部国漫中，25部年番贡献了全年国漫总播放量的47%。其中，《凡人修仙传》《仙逆》《斗破苍穹 年番》等头部作品，单部正片播放量均超过20亿次，呈现出高度集中的“头部托底”结构。 反观漫剧，尽管整体播放量庞大，但单片体量仍然偏小，目前尚未形成真正意义上的“超级头部”。2025年播放量最高的《斩仙台下，我震惊了诸神》累计播放量达到10亿次，而这也是全年唯一一部破10亿的漫剧作品。 但真正决定漫剧能否对长视频国漫形成冲击的，并非规模或单点爆款的缺失，而是其内容能力的上限。 从叙事目标来看，漫剧与长视频国漫面向的是两套截然不同的观看预期。长视频国漫强调持续观看与情感投入，其价值建立在世界观铺陈、人物关系演进与长期叙事之上。这种内容形态天然服务于IP逻辑，需要时间成本与情绪耐心的双重投入。 漫剧则更接近一种高度工具化的内容供给，其核心诉求更接近于通过密集爽点完成情绪刺激与即时反馈。这种内容形态并不追求复杂叙事的展开，而是以最低理解成本完成情绪闭环。 这种差异决定了两者在内容深度上的天然分层。即便在AI工具的辅助下越来越多漫剧在画面精度、剪辑节奏上不断向“动画感”靠拢，但其叙事结构仍以单线推进为主，难...

2月4日，国家金融监督管理总局官网显示，青海贵南农村商业银行的增资申请获监管部门批复，该行注册资本由6000万元变更为6600万元。近日，还有东营银行、石家庄鹿泉农商银行等多家中小银行获批增加注册资本。值得注意的是，阳谷农商银行等中小银行“逆势”减资。业内人士认为，银行增资扩股是主流发展趋势，部分银行减资也并非资本实力弱化的信号。增资能增强银行服务实体经济和抵御风险的能力，减资则有助于提升其资本配置效率。二者灵活运用，共同推动银行业资本结构优化，顺应了差异化发展的要求。（中国证券报）

Skandinaviska Enskilda Banken AB首席策略师Namik Immelbäck称，如果美元兑日元在选举后急剧波动并测试160关口，可能会引发干预；而2月11日的日本假期将提供一个流动性较低的市场，从而为干预提供良机。 “假设高市早苗在2月8日的选举中获得绝对多数席位是最大风险溢价的回归，那么美元兑日元汇率将触及160；如果高市早苗的选举结果不佳，那么美元兑日元汇率则可能回落至151”。“日本局势的发展在全球范围内变得越来越重要，因为日本国债市场的陡峭化/功能失调存在引发全球范围内‘期限溢价’蔓延的风险”。“这或许可以解释为什么美国财政部/ 美联储会考虑帮助干预汇率，以改变市场叙事”。单方面干预可能收效甚微，除非美国国债收益率也呈下降趋势，或者美国财政部也决定参与干预。若要稳定日元和日本国债市场，一个可能的解决方案是 责任编辑：王永生

现货黄金站上5020美元/盎司，日内涨1.04%。

Image source: The Motley Fool. Wednesday, Feb. 4, 2026 at 4:25 p.m. ET Call participants Chief Executive Officer — Mike Slessor Chief Financial Officer — Aric McKinnis Vice President of Investor Relations — Stan Finkelstein Need a quote from a Motley Fool analyst? Email [email protected] Takeaways Revenue -- $215.2 million, setting a new all-time quarterly record and reaching the high end of guidance between $205 million and $215 million. -- $215.2 million, setting a new all-time quarterly record and reaching the high end of guidance between $205 million and $215 million. GAAP gross margin -- 42.2%, a 40 basis point increase compared to 39.8% in the prior quarter. -- 42.2%, a 40 basis point increase compared to 39.8% in the prior quarter. Non-GAAP gross margin -- 43.9%, up 290 basis points from 41% sequentially, exceeding the guidance range, with probe card segment up 364 basis points to 44.5% and systems segment down 50 basis points. -- 43.9%, up 290 basis points from 41% sequentially, exceeding the guidance range, with probe card segment up 364 basis points to 44.5% and systems segment down 50 basis points. GAAP net income -- $23.2 million, or $0.29 per fully diluted share, rising from $15.7 million, or $0.20 per share, in the prior quarter. -- $23.2 million, or $0.29 per fully diluted share, rising from $15.7 million, or $0.20 per share, in the prior quarter. Non-GAAP net income -- $36.6 million, or $0.46 per diluted share, up from $25.7 million, or $0.33 per share, sequentially. -- $36.6 million, or $0.46 per diluted share, up from $25.7 million, or $0.33 per share, sequentially. Operating cash flow -- $46 million, an increase of $19 million from $27 million in the prior quarter. -- $46 million, an increase of $19 million from $27 million in the prior quarter. Free cash flow -- $34.7 million, up $15 million from $19.7 million in the previous quarter, reflecting improved margins and disciplined working capital use. -- $34.7 million, up $15 million from $19.7 mill...

Alphabet declined to answer one of its investors buring questions about Google’s AI deal with Apple on Wednesday’s fourth-quarter earnings call. Instead of responding to an analyst’s question about how the tech giant is thinking about AI partnerships, such as the one with Apple to power AI for Siri, the question was completely ignored. That decision tells us something, though — Alphabet isn’t ready to talk about how this partnership will impact its core business, which is increasingly focused on AI. Over the years, the Google-Apple relationship has been mutually beneficial. The two companies’ search partnership saw the search giant paying the iPhone maker $20 billion to be the default search engine on Apple devices, filings from the Department of Justice’s lawsuit against the search giant had revealed. In turn, Google gained access to Apple’s massive customer base — the iPhone maker last quarter announced it has 2.5 billion active devices worldwide to give you an idea of scale. The latest Apple AI deal is rumored to cost Apple roughly $1 billion per year, but the payoff beyond that for Google isn’t as immediately obvious as it is with search. In Google Search, consumers see links to advertisers’ websites at the top of their search results. Ads in AI Mode, which could one day represent the future of Google’s search business, are still an “experiment” for now. The company first announced last May that it would bring ads to AI Mode, the chatbot-style interface for Google Search, but these tests see the ads’ placement below or integrated into the chatbot’s responses. Google is also trying out agentic shopping, including Shop with AI Mode, to guide consumers with product-related queries to a seamless checkout experience from the AI interface. Meanwhile, Google’s AI competitor Anthropic is taking aim at ad-supported AI with its forthcoming Super Bowl ad, which challenges the business model being adopted by ChatGPT maker OpenAI and Google. How this will all play out longer...