本轮AI繁荣的风险正在积累中，但远未结束。 一轮又一轮的融资后，通过发行IPO筹集上百亿美元的资金，跨越三大洲发行债券，宣布大规模股权融资……这些天文数字的融资规模和用尽一切手段的融资方式，在本轮AI投资中屡见不鲜。 虽然美股AI交易近期再次受挫，但8日，美股科技股、芯片股迅速从此前的“黑色星期五”中反弹。从大型科技企业到人工智能（AI）巨头，各方都在竞相加入“AI投资竞赛”，通过股债市场融资，加速推进、扩大AI数据中心和基础设施建设。市场人士认为，AI泡沫和投资过剩确实会带来问题，就目前来说，AI相关投资的需求仍然强劲。AI企业债利差徘徊在数十年低位附近，美股科技股本季度仍录得31%的涨幅。 全球评级机构惠誉的首席经济学家库尔顿（Brian Coulton）对第一财经记者表示，“中东冲突引发的石油冲击拖累了世界经济增长前景。随着通胀加剧挤压实际工资、抑制消费和提高公司投入成本，惠誉将把对2026年全球增长预测下调0.2个百分点至2.4%。”但他同时强调，“我们也正处于一个非常明显的繁荣时期，美国与AI相关的IT类投资在2026年第一季度同比增长18%，有证据表明其他地方的相关投资也增长迅速。全球半导体销售额随着科技繁荣推动全球贸易，3月同比增长80%。AI相关投资的势头强于预期，一定程度上缓冲了石油冲击对全球经济活动的影响。” 科技、AI巨头疯狂通过股债融资 市场预计，仅四家大型科技公司在数据中心和其他AI基础设施上今年的支出预计就将超过6700亿美元，这一投资占经济的比例甚至超过了19世纪50年代铁路扩张时期，铁路投资在经济中的占比。 6月初，谷歌母公司Alphabet宣布了总规模约850亿美元的股权融资计划，其中伯克希尔·哈撒韦以私募方式认购100亿美元，公开发行部分因超额认购从300亿美元上调至450亿美元，这是该公司历史上最大规模的股权融资，所得资金将全部投向AI基础设施建设。这是大型科技企业融资加速布局AI基础设施的最新案例。 同时，在竞争对手Anthropic和SpaceX相继启动上市进程后，AI巨头OpenAI也正式加入了这场史无前例的超级IPO竞赛。6月8日，OpenAI宣布已向美国证券交易委员会（SEC）秘密提交了S-1上市招股书草案，但公司同时强调，目前尚未敲定具体上市时间表。“三大巨头”几乎同时谋求上市，可能会使今年成为美股IPO整体融资规模...

格隆汇6月9日｜杰富瑞将麦克莫兰銅金的目标价从75美元上调至85美元，维持“买入”评级。(格隆汇)

Mario Tama/Getty Images News MSCI ( MSCI ) said it will apply its standard methodology for early inclusion of large IPOs in its Global Standard Indexes, likely paving the way for SpaceX ( SPCX ) to join after it debuts on the Nasdaq on June 12. Elon Musk's SpaceX ( SPCX ) is raising about $75B in its IPO, priced at $135 per share, targeting a $1.75T valuation. Final pricing is expected to be disclosed on June 11. The company is expected to meet MSCI's ( MSCI ) size and free-float criteria for early index inclusion. If MSCI decides to add the stock to its indexes, the decision would be effective as of the close of its tenth day of trading. The inclusion would fuel demand from passively managed investment funds that track MSCI's ( MSCI ) indexes, adding to demand from funds tracking the ​Nasdaq 100 and FTSE Russell indexes. Nasdaq ( NDAQ ) already updated its rules to allow faster inclusion of newly listed megacaps into the Nasdaq 100 index. FTSE Russell also announced fast-entry rules for Russell ​U.S. Equity Indexes and FTSE Global Equity Index Series. But S&P Global ( SPGI ) decided not to change its criteria for entry into the benchmark S&P 500, including a rule that requires a company to be profitable. SpaceX ( SPCX ) reported a net loss of $4.94B in 2025. More on SpaceX, MSCI The SpaceX IPO: All Systems Go, Ready For Blast Off? ETF Investing Is Seeing Explosive Growth, Own The House: MSCI Inc. MSCI: Record Sales And High Retention Prove This Compounder Is A Buy SpaceX IPO ties investors more closely to Elon Musk’s expanding AI empire SpaceX IPO said to draw heavy demand ahead of record-breaking debut

近日，欧盟称将允许军舰扣押运输俄罗斯石油的油轮。6月9日，外交部发言人林剑表示，中方一贯反对缺乏国际法依据、没有联合国安理会授权的非法单边制裁。（澎湃新闻）

【券商聚焦】長江證券維持理想汽車-W「買入」評級 期待新車週期改善盈利 Moomoo

记者从市场监管总局了解到，日前，膳魔师（中国）家庭制品有限公司按照《消费品召回管理暂行规定》的要求，主动向市场监管总局和江苏省市场监管局报告了召回计划，召回2011年至2023年期间制造的部分SK3000、SK3020型高真空不锈钢食物罐，涉及数量为399.54万件。本次召回范围内的SK3000型、SK3020型高真空不锈钢食物罐，如消费者长时间在保温食物罐中存放易腐食品或饮料，打开时密封塞可能会有弹出风险，对使用者造成撞击伤害。膳魔师中国将为受召回影响的消费者免费更换一件全新具有泄压阀的密封塞，以消除安全隐患，本次更换泄压阀密封塞所产生的运费，全部由膳魔师中国承担。（央视新闻）

Key PointsFiling early slashes benefits for life.

Cipher Digital ( CIFR ) has announced that its wholly owned subsidiary, Stingray Compute LLC , has priced a private placement of $810.0 million in senior secured notes due 2031. The notes carry a 6.000% coupon rate and were priced at 99.750% of their principal amount . The private offering is expected to close on June 15, 2026, subject to customary closing conditions, and will be sold exclusively to qualified institutional buyers (under Rule 144A) and international investors (under Regulation S). The net proceeds from this offering will be used for several purposes: financing the remaining costs of the data center called the Stingray Facility, reimbursing Cipher for about $61.5 million in prior equity contributions made for capital expenditures related to the facility, and funding reserves for debt service. The notes are fully and unconditionally guaranteed by Cipher Stingray LLC. The debt is backed by first-priority liens on substantially all operational assets of both the issuer and the guarantor, alongside all equity interests of the issuer. Cipher Digital will provide a customary corporate completion guarantee. If the $810 million note proceeds fall short, the parent company is obligated to fund the subsidiary directly to ensure the timely completion of the Stingray Facility. The offering is subject to market and other conditions, and there is no assurance about its completion terms. More on Cipher Digital Cipher Digital: Taking Advantage Of An Expensive, Volatile Stock Through Options Cipher Digital Inc. 2026 Q1 - Results - Earnings Call Presentation Cipher Digital: 2 Tailwinds, 1 Undervalued Play What's behind Cipher Digital stock rally: $810M debt offering meets BTC bounce 5 of 7 proxy stocks trail BTC's 12% fall: Investors piled into these 6 miner stocks

格隆汇6月9日｜瑞穗将信诺的目标价从330美元上调至340美元，维持“跑赢大市”评级。(格隆汇)

大和：中資科技股AI變現能見度提升 首選騰訊控股(00700)等 富途牛牛

舒泰神公告，子公司江苏贝捷泰生物科技有限公司于2026年06月09日收到了国家药品监督管理局核准签发的注射用STSP-0601（注射用波米泰酶α，商品名：博佳凝）《药品注册证书》，取得了该药品生产的注册批件。

G Sachs Raises Micron Technology, Inc. (MU.US) TP to USD900, Rating Neutral; Lifts Revenue and Earnings Forecasts AASTOCKS.com

格隆汇6月9日｜德国Apobank经济学家比约恩·奥尔在一份报告中表示，预计欧洲央行本周将加息25个基点，随后在9月再次加息，届时存款利率将升至2.5%。自3月份以来，受伊朗战争和能源价格上涨影响，欧元区的通胀前景已明显恶化。不过，Apobank预计今年这两次加息后续会被回撤，存款利率将在2027年上半年分两步从2.5%下调至2%。这背后的逻辑是，预计届时美伊冲突将得到解决，同时经济放缓，通胀也会回落至2%的目标水平。

文｜李嘉星 编辑｜周鑫雨 一句话介绍 context-mode 是一款专为 AI 编程打造的上下文优化 MCP（Anthropic 发布的模型上下文协议）插件。 它解决了开发者在长周期开发中遭遇的“模型失忆”与“Token 过多消耗”的核心痛点。 据团队表示，在编程场景下，context-mode 能够让 AI 编程的成本降低 98%，同时将大模型的记忆力从30分钟提升至 3 小时。 团队背景 context-mode 的背后是一支背景多元的跨国初创团队。目前团队的核心成员分布在土耳其、法国等 4 个国家，主要通过 GitHub 异步协作。 Mert Köseoğlu（核心开发者、创始人）： 曾作为技术顾问为 OpenAI 等企业提供技术服务，拥有超 10 年全栈工程与系统架构经验。创业前，他曾先后任职于 Countly、Planhat 及 Jotform 等全球知名数据与 SaaS 平台，担任高级软件工程师。 孙逸诚（核心开发者、多平台适配负责人）： 团队里的中国面孔，目前大二在读。他曾入围强基计划（数学与物理全省前 18 名），具有 Temporal-RAG（时序数据检索增强）引擎的独立开发经验，并获得知乎全球 A2A（Agent-to-Agent）黑客松银奖。 产品及业务 图源: context-mode 简单来说，context-mode 是一款专门为 AI 编程助手“减负”和“整理记忆”的开源 MCP 插件。 该项目发布后曾 登顶 GitHub Hacker News ，目前已在 GitHub 获得超 1.5 万颗 Star。context-mode 现已吸引逾 24.3 万名开发者接入，完成了对 15 个主流平台的底层适配，并被微软、谷歌、Meta、字节跳动及 Cursor 等科技公司的研发团队采用。 context-mode 之所以能在极客圈获得大量的关注，正是因为其精准切中了一个令人头疼的行业焦虑： 被昂贵API账单和大模型失忆逼疯的开发者 随着“龙虾（OpenClaw，一个开源 Agent 框架）”等全自动AI编程智能体的普及，Vibe Coding 的应用门槛进一步降低。 然而，享受到 AI 带来的效率提升的同时，用户很快意识到，智力是昂贵的：一方面，Claude、GPT等顶尖模型的 Token 定价并不便宜，包含充足 Token 额度的高级套餐...

SimonSkafar/iStock via Getty Images Interactive Brokers ( IBKR ) has had a great run YTD, up nearly 25%. The company is seeing impressive growth in client accounts, and this is leading to more commission dollars. Fervent equity markets have helped to fuel greater increases in client equity, and the flywheel continues to turn for this company, which is seeing great margin results in the last few years. With all of this optimism, it's appropriate to take a step back and examine the risk/reward given the outperformance. I believe the fundamentals are very positive for the company, but the risk/reward is not particularly attractive after the April & May rally. I begin coverage with a hold. A Highly Profitable Global Broker Interactive Brokers is a global broker. The company provides custody and service accounts for hedge funds, mutual funds, ETFs, registered investment advisors, proprietary trading groups, and individual investors. The company specializes in routing orders, executing orders, and processing trades across a wide variety of asset classes ranging from stocks to forex to bonds to options and many more to customers in nearly 200 countries around the world. The company also has a cryptocurrency offering through third-party service providers that execute, clear, and custody the cryptocurrencies. The company has a rich history since 1977 and is one of the most well-established software-based broker-dealers. The company makes the vast majority of its revenue from commissions. Commissions represented 81% of revenue. Other fees and services represented approximately 11% of sales. The balance is other income, which is about 8% of sales. Other fees and services are sales tied to things like market data, risk exposure feeds, FDIC sweep fees, and exchange-mandated payment for order flow programs. Other income is a non-core bucket. It's really about FX P&L, diversification strategy gains and losses, as well as P&L from other investments. It can fluctuate wildly from yea...

格隆汇6月9日｜长江证券研报指出，德业股份2026年一季报实现收入44.59亿元，同比增长74%，环比增长32%；归母净利11.88亿元，同比增长68%，环比增长44%。拆分来看，行业高景气背景下，预计Q1公司储能逆变器、电池包收入均实现同比高增。乌克兰、中东、东南亚、东欧等市场Q1表现或尤为突出。同时电池包、储能逆变器毛利率预计稳定在良好水平。展望后续，公司储能排产有望延续强势，Q2地缘冲突影响下东南亚、中东、非洲、东欧增长明显，有望带动业绩显著环增。工商储、大储势头亦强劲。能源安全战略高度空前背景下，认为户储需求出现历史级拐点，德业有望充分、率先受益。预计公司2026-2027净利润分别为57、71，对应PE 为26、21倍。维持“买入”评级。

《上海市促进时尚消费品产业高质量发展行动方案（2026—2028 年）》今日发布，从加强时尚消费品优质供给、构建时尚消费品创新生态、形成产业保障合力三大维度，全面部署加快促进上海市时尚消费品产业高质量发展。同时启动“2026中国消费名品产业创新大赛”，以“人工智能赋能消费品工业创新发展”为主题，主要聚焦在产品创新、技术攻关、消费场景三个方向。（科创板日报）

根据Valve发布的2026年5月Steam硬件调查数据，AMD处理器在Windows游戏电脑中的市场占比攀升至44.97%，创下历史新高，距离45%关口仅有一步之遥；英特尔以55.02%继续保持领先，不过二者差距已收窄至约10个百分点。最新数据显示，AMD5月市场占比较4月提升0.79个百分点，英特尔则下降同等幅度，可见锐龙（Ryzen）处理器持续受到游戏玩家的青睐。如果把Linux和macOS用户一并统计，AMD在Steam全平台的CPU市场占比达到46.06%，再次刷新纪录。

We're only days away from the biggest initial public offering (IPO) in stock market history. SpaceX is preparing to launch at a valuation of roughly $1.8 trillion. And this already interesting IPO story just became even more intriguing. SpaceX announced on June 5, 2026, that it had entered into a three-year cloud service agreement with Google LLC, an operating unit of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) . What made the contract so noteworthy is that Google will pay SpaceX a whopping $920 million per month . Could the Google deal further turbocharge SpaceX's imminent IPO? Quite possibly. Image source: Getty Images. Continue reading

格隆汇6月9日｜南下资金净卖出港股超70亿港元。

Tatjana Maria says Queen's should show more respect to its defending champions after she goes through qualifying to reach the main draw.

中化国际在互动平台表示，目前公司对位芳纶总产能8000吨/年，装置保持高负荷运行，在安全防护、光缆增强等领域国内市占率领先。目前技术已达到国际先进，高模型产品凭借高模量和高尺寸稳定性的性能优势，已实现光纤光缆领域全球TOP5客户稳定供货。

For now, it may seem like the only way to make money in the stock market is to invest in artificial intelligence ( AI ) stocks. That couldn't be further from the truth if your time horizon is longer than next quarter. Investor demand is getting sucked away from anything that isn't AI, driving down a ton of individual stocks and sectors while the broad market gets carried by the AI technology giants. This is not a bad thing if you're looking to buy stocks. If you missed the AI rally, there are plenty of cheap stocks you can invest in today with fantastic growth prospects. Here are three reasons to watch e-commerce giant MercadoLibre (NASDAQ: MELI) closely after its recent pullback. Continue reading

京東集團－ＳＷ(09618)出現大手賣出6.88萬股，成交價$113.9，涉資783.632萬 AASTOCKS.com

apoBank的Bjoern Ohl在一份报告中表示，欧洲央行本周料将加息25个基点，随后在9月份再次加息，将存款利率上调至2.5%。“自3月份以来，由于伊朗战争和能源价格上涨，欧元区的通胀前景已显著恶化，“该经济学家表示。不过，apoBank预计今年预期的加息将被逆转，存款利率将在2027年上半年分两步从2.5%降至2%。“这背后的背景是届时预计美国和伊朗之间的冲突将得到解决，加上经济放缓以及通胀率降至2%的目标水平。”