财联社2月3日讯（编辑 赵昊） 综合多位长期关注美联储人士的说法，特朗普提名的下一任美联储主席人选凯文·沃什（Kevin Warsh）是一位善于倾听、注重共识的领导者。 沃什的前同事们表示，沃什深知美联储“双重使命”的重要性——即物价稳定和充分就业。他们认为，这种认知有助于他在外部预期不断变化的情况下，管理内部争论。 布鲁金斯学会高级研究员Aaron Klein表示：“沃什拥有一种非常宝贵的能力组合——既有体制内经验，又有体制外的批判视角。” Klein在“911”事件之后与沃什共事，当时沃什在小布什政府任职。他说，沃什容易合作，也善于倾听——当领导者需要管理分歧而非强行拍板时，这些能力尤为重要。 Klein还指出，美联储主席在货币政策上只是12张投票中的一票，但这个人也掌控着“极其强大的工作人员团队”。 曾在美联储工作40年、与沃什共任理事的唐纳德·科恩（Donald Kohn）在一份声明中表示，沃什明白美联储决策必须始终围绕“双重使命”。 科恩说，沃什“很会读懂会议室的气氛”，两人在2007至2009年全球金融危机的“高压时期”密切合作。 这种把握群体情绪的能力可能至关重要。因为沃什将回到一个他近年来公开批评过的政策环境，以及一群他曾质疑过的官员和员工之中。 美国国会当初设立美联储，就是为了让其免受政治压力干扰——避免通过大幅降息刺激经济、从而引发通胀风险。 科恩表示：“沃什知道自己需要运用强大的分析与证据整合能力，来说服他人支持自己的政策方向。”近期负责制定短期利率的联邦公开市场委员会（FOMC）内部意见已明显分裂。 近年来，沃什在演讲和斯坦福大学的学术研究中加强了对美联储的批评。他在2023年的一篇专栏中呼吁美国经济政策进行“体制更迭”（regime change）。 沃什批评称，在疫情初期大幅降息后，美联储在控制通胀方面行动过慢。Klein表示，沃什来自学界的批评是“理性的且深思熟虑的”。 Klein补充说，如果再次获得参议院确认，沃什的经验使他成为推动央行改革的理想操盘手，“我希望他能整顿美联储的决策流程——过去30年在银行监管问题上错得太多——同时保持货币政策的独立性。” 不过，RSM US首席经济学家Joseph Brusuelas警告，沃什追求共识的本能可能反而成为限制。 “他是共识导向型人物，不太愿意偏离委员会太远。”Brusuelas查阅了沃什...

"Bloomberg ETF IQ" focuses on the opportunities, risks and current trends tied to the trillions of dollars in the global exchange traded funds industry. Today's guests: Vanguard CEO Salim Ramji, Goldman Sachs Asset Management Chief Transformation Officer Bryon Lake and Ark Invest CEO & CIO Cathie Wood. (Source: Bloomberg)

加拿大帝国商业银行策略师Michael Cloherty、Arjun Ananth和Ian Pollick在报告中写道，美联储资产负债表的问题进展缓慢，这意味着相关议题最早也要到第四季度才可能被提上“优先议程”。 他们写道，“资产负债表这跟‘导火线’可能相对较长”，并提醒投资者至少等到第四季度末再考虑消化任何潜在影响。 策略师推测沃什的优先事项如下： 积极融入联邦公开市场委员会（FOMC）其他成员和美联储工作人员之中； 将美联储研究人员的工作重心转向对未来货币政策决策具有直接影响的议题； 精简美联储的运作流程； 重启部分监管举措，例如调整全球系统重要性银行（G-SIB）缓冲资本的计算方式； 对银行监管流程进行微调； 重新讨论资产负债表的适当规模。 责任编辑：丁文武

The Epstein files released by the Department of Justice on Friday included at least a few dozen unredacted nude photos and names of at least 43 victims, according to news reports. The DOJ missed a December 19 deadline set by the Epstein Files Transparency Act by more than a month, but still released the files without fully redacting nude photos and names of Jeffrey Epstein's victims. The New York Times reported yesterday that it found "nearly 40 unredacted images that appeared to be part of a personal photo collection, showing both nude bodies and the faces of the people portrayed." While the people in the photos were young, "it was unclear whether they were minors," the article said. "Some of the images seemed to show Mr. Epstein’s private island, including a beach. Others were taken in bedrooms and other private spaces." The photos "appeared to show at least seven different people," the article said. Read full article Comments

The parent of Saks Fifth Avenue plans to wind down its partnership with Amazon.com to focus on shoring up its own businesses after filing for bankruptcy protection last month. Saks Fifth Avenue and Amazon joined forces in December 2024 as part of the luxury retailer’s acquisition of rivals Neiman Marcus and Bergdorf Goodman. Saks needed money for the deal, and Amazon—which had long tried to crack the code of selling luxury goods online—invested $475 million in the parent company, Saks Global.

格隆汇2月3日｜市场消息：甲骨文(ORCL.N)有望在AI融资相关的债券销售中募集250亿美元。

photosvit/iStock Editorial via Getty Images Plagued by delays and escalating costs as well as uneven demand for its electric vehicles, Porsche’s ( DRPRY ) ( POAHY ) ( POAHF ) new CEO is considering ending production of its 718 Boxster and Cayman EVs and instead increase production for hybrids and gas-powered vehicles. The ICE versions of the Porsche 718 Boxster and Cayman were discontinued in 2025 despite a 15% increase in sales in their last year of production. Porsche had planned to reintroduce vehicles as EVs later this year built on a newly developed sports-car platform that aims to keep the vehicle as light as possible despite the added weight from EV batteries. Scheduled for 2025, the launch of the 718 Boxster and Cayman has been pushed back repeatedly as the company struggles to keep costs under control. Under new CEO Michael Leiters, Porsche is considering its options to address its struggling EV lineup as well as tariff costs, both of which are expected to translate into a cost of nearly $2B in 2025. According to Bloomberg, plans to add a plug-in hybrid Porsche to the company’s lineup have only complicated things further, as a plug-in requires a dedicated platform from a fully electric or gas-powered vehicle. By developing a new platform, Porsche risks introducing a new vehicle to the market at a time when competitors are launching more technologically advanced vehicles. More on Porsche Automobil Holding SE, Dr. Ing. h.c. F. Porsche AG Porsche AG: Better Momentum Ahead (Rating Upgrade) Porsche Automobil Holding: Yield Has Been Good, Returns Less So Porsche considers sale of stake in Bugatti joint venture -- Bloomberg Porsche plans to gradually shut down its charging network in China Seeking Alpha’s Quant Rating on Porsche Automobil Holding SE

For a long time, Uber (UBER) critics called the company’s “growth at all costs” strategy a poor business model. Some said it will die under the weight of venture capital and subsidies. But prudent stock market professionals always pointed out the importance of Uber’s data . That importance is becoming relevant now as data-hungry AI models look for high-quality data to build and offer new products. In a recent development, Nvidia (NVDA) and Mercedes (MBGYY), in a bid to start a new robotaxi company, have partnered with UBER. The reason for the partnership is obvious. Uber sits on billions of miles of real-life data. Anyone who wants to build the next infrastructure layer of autonomous transport hopes to get their hands on this data, and Uber isn’t just handing it over to any other company. By collaborating with Nvidia and Mercedes, two of the top companies in their respective domains, it has indicated that it aims to be a part of the new ecosystem. About Uber Stock Uber Technologies develops and operates its proprietary technology applications across the world. It is commonly known for its ride-hailing and delivery services, and its name has become synonymous with ride-hailing, much like Alphabet's (GOOG) (GOOGL) Google name became associated with searching for anything online. The firm is headquartered in San Francisco, California. UBER’s one-year returns of 22% are nothing special, but they have still marginally outperformed the broader market. This is perfect for those waiting for Uber’s autonomous driving thesis to play out. Much like Tesla (TSLA) on many occasions in the past decade, Uber’s valuation is a much-debated topic. For example, the company’s forward price-to-book value of 5.74x is trading at a 25% discount to the five-year average. Yet it is impossible to come up with the correct book value for the valuable data that it holds. A forward P/E of 23.3x compared to the 5-year average of 33.66x is similarly trading at a discount. Either investors doubt its ...

Available for over a year The Department of Justice has said that their review process into files related to Jeffrey Epstein is over, after a new tranche was released on Friday. Donald Trump says the lack of evidence in this batch absolves him of any guilt, while survivors and Democrats say there are still unanswered questions and unseen documents. Justin, Sarah, Marianna and Anthony discuss where this leaves the president and his MAGA base. Also, what does it mean for Epstein's victims, particularly as many victims’ names have been published by the US DoJ for the first time without permission. We also answer your questions on celebrities calling out the actions of ICE agents in Minneapolis at the Grammys as Trump threatens to sue its host Trevor Noah. Plus, why quilters on social media might have more to do with those ongoing protests than meets the eye. HOSTS: • Justin Webb, Radio 4 presenter • Sarah Smith, North America Editor • Anthony Zurcher, North America Correspondent • Marianna Spring, Social Media Investigations Senior Correspondent GET IN TOUCH: • Join our online community: https://discord.gg/qSrxqNcmRB • Send us a message or voice note via WhatsApp to +44 330 123 9480 • Email Americast@bbc.co.uk • Or use #Americast This episode was made by Rufus Gray and Grace Reeve. The technical producer was Jonny Baker. The series producer is Purvee Pattni. The senior news editor is Sam Bonham. If you want to be notified every time we publish a new episode, please subscribe to us on BBC Sounds by hitting the subscribe button on the app. You can now listen to Americast on a smart speaker. If you want to listen, just say "Ask BBC Sounds to play Americast”. It works on most smart speakers. US Election Unspun: Sign up for Anthony’s BBC newsletter: https://www.bbc.co.uk/news/world-us-canada-68093155 Americast is part of the BBC News Podcasts family of podcasts. The team that makes Americast also makes lots of other podcasts, including Newscast and Ukrainecast. If you enjoy...

Executive Summary U.S. equities sustain positive momentum alongside improving market breadth Small cap, Midcap, and Value leadership persists Parabolic gains in precious metals unwind sharply Inflation, employment, and consumer confidence data remain mixed S&P 500 companies on pace for fifth consecutive quarter of double-digit EPS growth Nasdaq and the ongoing evolution of capital markets U.S. equity markets began 2026 with a constructive tone, extending the positive momentum established through the back half of last year. January performance was characterized by broad participation, improving breadth, and continued leadership from economically sensitive and value‑oriented segments of the market. The overall market backdrop remained supportive, underpinned by resilient growth expectations, stable financial conditions, and strong corporate balance sheets. Unlike late‑cycle environments marked by narrow leadership, January’s advance was notable for its diversity of winners across market capitalizations and sectors. Equal‑weight indices outperformed their cap‑weighted counterparts, small‑ and mid‑capitalization stocks delivered solid absolute gains, and cyclical sectors generally outpaced defensives. This rotation reflected investor confidence in the durability of economic activity and an ongoing recalibration toward balance following last year’s growth‑heavy leadership. From a macro perspective, markets continued to benefit from a favorable mix of easing inflation pressures, steady labor market conditions, and a Federal Reserve firmly in wait‑and‑see mode. Interest rates remained well‑contained, credit conditions stayed accommodative, and liquidity remained ample, allowing risk assets to absorb policy and geopolitical headlines without material disruption. Against this backdrop, January served less as a turning point and more as a confirmation of trends already in motion: broader participation, selective rotation, and an emphasis on earnings durability rather than pur...

Key Points Hussman added 42,000 Etsy shares; estimated trade size $2.56 million based on quarterly average price. Quarter-end Etsy position value rose by $1.87 million, reflecting both new purchases and stock price changes. The transaction represented a 0.62% shift in reportable AUM. Post-trade stake: 84,000 shares valued at $4.66 million. Etsy accounts for 1.13% of fund AUM, making it the fund's second-largest holding. These 10 stocks could mint the next wave of millionaires › What happened According to a recent SEC filing dated Feb. 2, 2026, Hussman Strategic Advisors, Inc. increased its position in Etsy (NYSE:ETSY) by 42,000 shares during the fourth quarter of 2025. The estimated value of the trade was $2.56 million based on the quarterly average share price. At quarter’s end, the fund’s Etsy holdings were valued at $4.66 million, up $1.87 million from the prior period. What else to know The fund’s purchase brought its Etsy stake to 1.13% of reportable AUM, making it Hussman’s second-largest holding. Top holdings after the filing: Qualcom : $4.67 million (1.13% of AUM) Etsy: $4.66 million (1.13% of AUM) Ubiquiti : $4. 65 million (1.12% of AUM) United Natural Foods : $4.24 million (1.03% of AUM) Charter Communications : $3.95 million (0.95% of AUM) As of Jan. 30, 2026, Etsy shares were priced at $52.96, down 5.53% over the past year, underperforming the S&P 500 by 18 percentage points. Company Overview Metric Value Price (as of market close 1/30/26) $52.96 Market Capitalization $5.25 billion Revenue (TTM) $2.85 billion Net Income (TTM) $182.15 million Company Snapshot Etsy: Operates online marketplaces including Etsy.com and Depop, offering handmade goods, vintage items, musical instruments, and fashion resale. Generates revenue through marketplace transaction fees, payment processing, advertising services, and value-added seller tools. Serves individual artisans, small business sellers, and buyers seeking unique or custom products, primarily in the United States,...

格隆汇2月3日｜据外媒报道，法国议会于周一通过了2026年预算案，此前法国总理勒科尔尼成功挺过了两次不信任投票。这标志着持续数月的政治动荡终于告一段落，而这场动荡曾令投资者对法国的经济信心受到冲击。国民议会中来自极左翼的议员提出的谴责动议获得了260票的支持，但未达到推翻少数派政府并否决预算所需的289票。而来自极右翼的另一项动议也仅获得135票支持而未能通过。法国总理及其政府在做出一系列让步后取得了胜利，新的预算方案中的削减开支和增税幅度均小于此前的提案。这意味着本年度的财政赤字（预计为5%）将超过最初的计划规模。不过，勒科尔尼避免了其前任的遭遇，他们因在紧缩措施问题上与国民议会产生分歧而被迫辞职。

This followed not one but two cabinet resignations from the then New Labour government - first, over a substantial undeclared loan from a fellow minister and secondly, over contacting a Home Office minister about a passport application from a wealthy Indian businessman who had helped fund the contents of the Millennium Dome (now the O2).

Elon Musk is in advanced talks to combine SpaceX with xAI, according to people familiar with the matter. Bloomberg’s Liana Baker discusses the possible consolidation of the billionaire’s empire with Caroline Hyde on “Bloomberg Tech.” (Source: Bloomberg)

Federal Reserve Bank of Atlanta President Raphael Bostic offers his policy outlook, saying he didn’t have any rate cuts projected for the year ahead, and how close he sees the central bank to the neutral rate. He speaks with former Federal Reserve Bank of Atlanta President Dennis Lockhart Monday at an event hosted by the Rotary Club of Atlanta. (Source: Bloomberg)

ablokhin Atlanta Fed President Raphael Bostic said on Monday the U.S. economy remained remarkably strong in 2025, and his outlook for 2026 "is the continuation of a resilient economy." Business leaders in the Atlanta Fed's region generally expect economic growth to continue at the same pace as 2%-2.5%, which suggests that 2026 growth will continue to be strong, he said. Furthermore, the tax bill passed last year, deregulation, and the Fed cutting rates by 175 basis points in the past 18 months will contribute to growth this year. "That's all stuff to help the economy move more robustly, not less," he said. Strong economic performance in the first half of 2026 "will limit the extent to which inflation can fall," Bostic said. Inflation has been “going sideways” for most of the last two years, he noted. "I don't think we're going to see dramatically different things for the first half of 2026. That's going to be a source of concern." In addition, the outlook for the labor market has improved, he said, adding that he doesn't expect any calamity on the labor side of the Fed's mandate. With inflation staying above the central bank's 2% goal, policy decisions will still be challenging, he remarked. Bostic said he penciled in no rate cuts in his Summary of Economic Projections in December. "I think that we have so much momentum in the economy that we need to keep our policy rate in a mildly restrictive stance." Note that Bostic is retiring at the end of his term, which concludes on Feb. 28, 2026. Looking at companies' profits, "I think it's hard to make the case that our policy stance is heavily restrictive or strongly restrictive," he added. More on the US Economy The U.S. Dollar's Slide Has Been A Tailwind For Investing In Foreign Markets ISM Manufacturing PMI expands for the first time in a year in January St. Louis Fed's Musalem says lowering rates now would be 'unadvisable' Why Fed Governor Waller thinks more rate cuts are needed

格隆汇2月3日｜美国天然气期货日内暴跌27.00%，现报3.178美元/百万英热。

March ICE NY cocoa (CCH26) today is up +41 (+0.98%), and March ICE London cocoa #7 (CAH26) is up +76 (+2.61%). Cocoa prices are moving higher today as signs of smaller cocoa deliveries to ports in the Ivory Coast have prompted some short covering in cocoa futures. Today's cumulative data showed that Ivory Coast farmers shipped 1.23 MMT of cocoa to ports in the current marketing year (October 1, 2025, through February 1, 2026), down -4.7% from 1.24 MMT in the same period a year ago. The Ivory Coast is the world's largest cocoa producer. Don’t Miss a Day: Last Friday, NY cocoa dropped to a 2.25-year nearest-futures low, and London cocoa sank to a 2.5-year nearest-futures low as abundant global supplies and slack demand are keeping pressure on cocoa prices. StoneX last Thursday forecasted a global cocoa surplus of 287,000 MT in the 2025/26 season and a 267,000 MT surplus for 2026/27. Also, the International Cocoa Organization (ICCO) reported on January 23 that global cocoa stocks rose 4.2% y/y to 1.1 MMT. Demand concerns have hammered cocoa prices as consumers continue to balk at the high price of chocolate. Last Wednesday, Barry Callebaut AG, the world's largest bulk chocolate maker, reported a -22% decline in sales volume in its cocoa division for the quarter ending November 30, citing "negative market demand and a prioritization of volume toward higher-return segments within cocoa." Grinding reports also showed weak demand. On January 15, the European Cocoa Association reported that Q4 European cocoa grindings fell -8.3% y/y to 304,470 MT, a bigger decline than expectations of -2.9% y/y and the lowest for a Q4 in 12 years. On December 16, the Cocoa Association of Asia reported that Q4 Asian cocoa grindings fell -4.8% y/y to 197,022 MT. Also, the National Confectioners Association reported Q4 North American cocoa grindings rose only +0.3% y/y to 103,117 MT. Since posting a 10.5-month low of 1,626,105 bags on December 26, ICE-monitored cocoa inventories held in US por...

is a senior reporter who’s been covering and reviewing the latest gadgets and tech since 2006, but has loved all things electronic since he was a kid. Posts from this author will be added to your daily email digest and your homepage feed. Following an initial price increase announced two months ago, Raspberry Pi is raising prices again for several of its single-board computers. “The cost of some parts has more than doubled over the last quarter,” Raspberry Pi CEO Eben Upton said in an announcement today. “As a result, we now need to make further increases to our own pricing, affecting all Raspberry Pi 4 and 5, and Compute Module 4 and 5, products that have 2GB or more of memory.” In December, the Raspberry Pi 4 and Raspberry Pi 5 saw price increases from $5 to $25, depending on the amount of RAM included, while the 16GB version of the Compute Module 5 jumped by $20. Starting soon, prices will increase again by $10 for those same devices with 2GB of memory, by $15 for 4GB models, by $30 for 8GB variants, and by $60 for configurations with 16GB of RAM. Today’s price increases don’t affect the price of the 1GB version of the Raspberry Pi 5 that launched two months ago, the 1GB Raspberry Pi 4 variant, or the Raspberry Pi 400 all-in-one PC. It also doesn’t affect the Raspberry Pi 3, Raspberry Pi Zero, or other older products, as Upton says the company holds “several years’ inventory of the LPDDR2 memory that they use.” Looking ahead, Upton says “2026 looks likely to be another challenging year for memory pricing,” but believes “the current situation is ultimately a temporary one, and we look forward to unwinding these price increases once it abates.”

(RTTNews) - Swiss stocks closed on a strong note on Monday, in line with other markets in Europe, thanks to encouraging retail sales and manufacturing activity data. The benchmark SMI closed with an impressive gain of 220.85 points or 1.67% at 13,409.11, the day's high. Nestle climbed about 2.85%, Richemont, Logitech International, Amrize, Novartis, Lindt & Spruengli, Galderma Group, Schindler Ps and UBS Group gained 2%-2.5%. Helvetia Baloise Holding, Holcim, Zurich Insurance, SGS, ABB, Sika, Julius Baer, Swiss Life Holding and Roche Holding moved up 1%-2%. Sonova ended down by about 1.1%. Alcon, VAT Group, Givaudan and Partners Group slipped 0.3%-0.7%. A report from the Federal Statistical Office showed Swiss retail sales increased at the fastest pace in six months in December. The report said retail sales climbed 1% on a monthly basis in December in real terms, reversing a 0.1% fall in November. Sales of food, drinks, and tobacco increased 1.3%, while those of non-food products dropped 0.4%. On a yearly basis, retail sales growth accelerated to 2.9% in December from 1.7% in November. That was above the expected increase of 2.5%. Online sales were 10.8% higher, recovering sharply from a 13.1% plunge in November. Switzerland's procure.ch and UBS manufacturing PMI rose to 48.8 in January 2026 from an upwardly revised 46.4 in December, signalling a modest easing of pressure on the industrial sector. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

baona/iStock via Getty Images The Core Plus Income Fund’s Institutional Class returned +1.26% for the fourth quarter compared to a +1.10% return for the Bloomberg U.S. Aggregate Bond Index (Agg). For the full year, the Core Plus Income Fund’s Institutional Class returned +7.52% compared to a +7.30% return for the index. Longer-term results (3-, 5-, and 10-year) continue to outpace the index. The Core Plus Income Fund has outperformed the Agg six years in a row and eight out of the eleven years since inception. The Fund’s outperformance for the year was driven by sector allocation, led by out-of-benchmark exposures in securitized products, and by security selection, particularly within high yield corporates. Overview The year featured a continuation of the AI-driven rally in equities, Federal Reserve rate cuts to support a softening labor market, and a near "everything rally" that delivered positive returns for both stocks and bonds—the first such broad positive year since the pandemic era. Bonds delivered a strong rebound, benefiting from Fed easing [three 25 basis point ( BPS ) rate cuts in the second half, totaling 75 bps for the year] and attractive starting yields. This provided both income and capital appreciation as the yield curve shifted lower. The yield curve steepened (short rates fell more than long), reflecting Fed cuts amid sticky longer-term inflation/fiscal concerns. Credit spreads tightened overall, supporting outperformance in riskier fixed income segments. Fixed income acted as a ballast, with positive returns across most categories—providing diversification benefits in a year when stocks and bonds moved more in tandem positively. The chart below provides a view of U.S. Treasury interest rates over time (fourth quarter and year- over-year) across the yield curve. A broad gauge of the U.S. Treasury market posted its best return last year since 2020, principally driven by declining interest rates in ten-year and less maturities (see following table)....

Intel was once the leader of America's semiconductor industry but Alphabet's partner Broadcom is looking like the stronger play in the long term. The U.S. government made headlines last year when it invested $8.9 billion into Intel and the announcement caused Intel's shares to grow through the last four months of 2025. But did the government bet on the wrong horse in the artificial intelligence (AI) hardware race? Lots of people piled into Intel when the government announced its investment, but I don't think Intel is the best American semiconductor play, even after an almost $9 billion lifeline from Washington. Intel has been on the decline for years with its annual revenue dropping every year since 2021 and more losses projected for the first quarter of 2026. It's also projecting earnings per share (EPS) of $0 for the first quarter of 2026, which isn't an auspicious start to the year. What's more, the company's big reinvestment in American semiconductor production is struggling. Intel's proposed $28 billion factory in Ohio was originally meant to start production last year. But now Intel isn't projecting it will open until 2030 at the earliest, potentially even 2031. Intel may once have led America's and the world's semiconductor industry, but America's semiconductor renaissance will likely fall to another company. I've written before about Alphabet's (GOOG +1.64%) (GOOGL +1.66%) emergence as a serious contender in the generative AI to the point where it has nearly displaced OpenAI in the enterprise large language model (LLM) market. But what I haven't talked about is the hardware that Alphabet is running its Gemini AI program on. Because, after all, Alphabet is primarily a software company, not a hardware one. And the company Alphabet works with on its Tensor Processing Unit (TPU), which stole headlines late last year, stands to be an even bigger winner of Alphabet's AI investment. Broadcom (AVGO +0.71%) is one of Alphabet's major partners and it has been working ...

Forget Intel: This Smartphone and Auto Chip Giant Is Quietly Building the Better Long‑Term AI Story Yahoo Finance

Key Points Despite a $9 billion investment from Uncle Sam, Intel's decline is continuing unabated. Broadcom is a rising star in the AI hardware industry with 50% of its most recent quarter's revenue coming from AI companies. With an operating margin of 40.8% and 24% revenue growth year over year, Broadcom looks to be the stronger chip play by far. 10 stocks we like better than Broadcom › The U.S. government made headlines last year when it invested $8.9 billion into Intel and the announcement caused Intel's shares to grow through the last four months of 2025. But did the government bet on the wrong horse in the artificial intelligence (AI) hardware race? Lots of people piled into Intel when the government announced its investment, but I don't think Intel is the best American semiconductor play, even after an almost $9 billion lifeline from Washington. 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 » Intel has been on the decline for years with its annual revenue dropping every year since 2021 and more losses projected for the first quarter of 2026. It's also projecting earnings per share (EPS) of $0 for the first quarter of 2026, which isn't an auspicious start to the year. What's more, the company's big reinvestment in American semiconductor production is struggling. Intel's proposed $28 billion factory in Ohio was originally meant to start production last year. But now Intel isn't projecting it will open until 2030 at the earliest, potentially even 2031. Intel may once have led America's and the world's semiconductor industry, but America's semiconductor renaissance will likely fall to another company. I've written before about Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) emergence as a serious contender in the generative AI to the point where it has nearly displaced OpenAI in the enterprise large language model (LLM) market. But what I haven't talked about is the hardware that Alph...