投资要点 行情回顾：本周（1月26日-2月1日）机器人指数跑输大盘。中证机器人指数下跌5.7%，跑输上证指数5.2个百分点，跑输沪深300指数5.7个百分点，跑输创业板指5.6个百分点。 特斯拉人形机器人大规模量产在即。特斯拉2025年第四季度财报电话会议上，马斯克宣布计划在2026年第二季度末全面停产Model S和Model X，现有高端生产线将被全面改造，其产能将全部转向Optimus人形机器人与Cybercab的量产。马斯克在达沃斯世界经济论坛上表示，目前已有部分机器人在特斯拉工厂执行简单任务，2026年年底能处理更复杂的工业任务，2027年底将向公众出售。 Figure推出最新机器人模型Helix02。Helix02是统一的全身运动操控VLA模型，技术架构层面，在系统1、系统2架构的基础上，新增了底层基础模块系统0，每个系统都以其固有的时间尺度运行，三者协同配合，构成一套从像素输入到力矩输出的高度集成的层级控制系统。Helix02实现了多项技术突破，包括自主长时域移动操作一体化、全传感器输入及全执行器输出、基于人体数据实现类人全身控制和全新维度的灵巧操作能力。 银河通用发布首款工业级重载机器人Galbot S1。从产品性能来看，Galbot S1以工规级标准打造，具备IP54防水防尘与耐高温性能，能可靠应对粉尘、震动、温变等复杂工业工况，作业高度达2.3m，双臂最大负载能力达到50公斤，可覆盖从仓储到产线的多样化工业场景需求。 阿童木机器人递表港交所。2026年1月28日，据港交所披露，天津阿童木机器人股份有限公司正式向香港联合交易所递交上市申请，拟依托联交所上市规则第18C章特专科技公司通道登陆主板。 天创机器人与软通天枢达成战略合作。双方将集合优势资源，面向在能源、电力、钢铁、工厂、园区等场景，就具身智能机器人、数字孪生感知执行系统平台等智慧运维产品展开深度合作。 相关标的：人形机器人硬件端核心环节：1）丝杠及设备：贝斯特、五洲新春、北特科技、恒立液压、秦川机床、恒而达、鼎智科技、日发精机、浙海德曼、华辰装备；2）减速器：绿的谐波、双环传动、中大力德、宏昌科技；3）传感器：安培龙、汉威科技、东华测试、柯力传感、华培动力；4）电机：鸣志电器、伟创电气、步科股份、禾川科技、英搏尔、微光股份；5）执行器总成：拓普集团、三花智控、中坚科技；6）灵巧手：征和工业...

2025年6月份在投手游广告主超过9万，每月新投手游均值接近8000 2025年月均手游广告主超8.4万名，同比增长了21.9%，在6月份达到峰值超过9万名，全年手游广告主超40万； 每月平均新增近8000名手游广告主，月均占比9.4%，其中9、10、12这3个月占比超10%，全年新广告主占比23.4%，与去年占比几乎持平。 2025年全球手游投放趋势观察 每月投新素材广告主已经稳超8成，新素材占比在11月份突破60% 2025年全球手游新投放趋势观察 2025年每月投放新素材广告主平均占比超过82%，对比去年同期提升了14.6%。且投新素材广告主占比稳定攀升，在12月份达到峰值88.2%； 每月新素材占比在11月份超过60%于12月份达到峰值63.2%，新素材占比趋势逐步提升，2025年月均新素材占比为58.1%，比去年高出5.9个百分点。

观点摘要 在2025年对内整顿联邦机构、大规模驱逐移民和以关税武器化推动国际贸易体系重组取得进展之后，以2025年11月公布的《国家安全战略》报告为契机，2026年特朗普2.0新政重心转向倚重军事力量来巩固甚至拓展地缘战略空间，包括突袭委内瑞拉并抓捕委内瑞拉总统夫妇返美审讯、威胁对欧洲八国加征关税以强夺格陵兰岛、趁伊朗国内骚乱机会以强大武力施压伊朗终止铀浓缩活动、截断古巴原油供应并施压古巴与美国达成协议等，地缘政治风险显著升温推动贵金属板块整体强势上涨。特朗普2.0新政的不确定性使得美国通胀高企的同时就业市场显著疲软，特朗普政府与共和党支持率持续走低恐危及2026年底的中期选举，由此特朗普政府在加大财政刺激力度和调整关税措施的同时也持续施压美联储宽松货币政策，特朗普2.0新政在经济领域的负面冲击减退使得2026年全球经济增长前景改善，由此推动工业金属和环球股市偏强运行。1月30日特朗普宣布提名前美联储理事凯文˙沃什为下届美联储主席，而沃什倾向于在大幅度降息支持经济增长的同时也控制货币流动性以防止通货膨胀，这会削弱贵金属的流动性溢价和抗通胀需求，因此1月最后一个交易日贵金属板块在连续两个月飙升后以一根大阴线结束本月行情。 特朗普2.0新政对经济领域冲击减弱以及环球央行携手宽松意味着2026年全球经济增长前景将会有所改善，这在整体上利好股市和工业商品而利空国债，但中国经济政策侧重点调整与支持力度边际转弱或抑制中国股市整体上涨空间，国际政经体系重组和全球央行携手宽松意味着贵金属继续有良好表现。综上所述，我们建议2026年资产配置兼顾进攻与避险，超配具有盈利支撑的蓝筹股和受益于国际政经体系重组的黄金，标配供需基本面好转的原油、受益于国家财力支持的成长股和企业基本面改善的信用债，低配票息或利息回报偏低的利率债和货币，房地产市场周期下行过程中的房地产资产自然也在低配之列。

核心观点： 2025年四季度开始，被动元器件所用的主要金属如银、铜、镍的价格先后出现快速且持续的上涨，其中当前银价相对于2025年第三季度的均价上涨209%，铜价上涨27%，镍价上涨19%。受原材料价格快速上涨的影响，全球主要被动元件厂商在2025年四季度开始频繁上调产品价格。比如台湾国巨，先在2025年11月主要上调钽电容价格超过20%，今年1月又上调电阻价格15%~20%。国内的风华高科也在2025年的11月和12月底连续两次上调电阻、电感等产品的价格。总体看，厂家对上游价格的上涨进行了及时的传导。 从A股主要的被动元件厂家的业绩变动看，在因2022年疫情结束去库存带来行业净利润大幅下降后，被动元件行业业绩持续改善，行业扣非净利润的增速已经由2022年的-24.8%，回升到2024年的24.8%，2025年前三季度行业扣非净利润同比增长13.8%。基于上述变动判断，全球被动元件的供需已回到至少是总体平衡的状态，因此本轮上游原材料价格上涨，厂家能及时向下游传导。1月28日，博迁新材，主要从事MLCC等被动元件所需镍粉的上市公司公布了2025年的业绩预告，预计2025年实现扣非净利1.9至2.3亿，同比增长160%~212%。按预告中值测算四季度单季度0.68亿，创历史季度盈利新高。可见在当前供需形势下，厂商跟随上游涨价可能带来行业盈利的高增长。 根据博迁新材披露的2025年业绩增长主要驱动因素，主营产品镍粉的主要下游MLCC市场由“规模增长”向“规格升级”演进，叠加AI服务器等终端设备对高性能MLCC需求的增加，带动公司高端镍粉出货量增长，产品结构明显改善。总体看，被动元件行业需求出现了规格/价格和数量齐升的局面。这与MLCC龙头日本村田公司2025年第三季度分析师会议的数据高度一致。根据村田数据，AI服务器主板的MLCC用量已经由此前预计的1~2万颗增加到1.5~2.5万颗，是普通服务器主板用量的10倍左右。新能源车方面，EV和插电混合车型动力部分的单车MLCC用量约2~3千颗，L2/L3级别的ADAS部分需要1.5到3千颗，而升级到L4/L5级别的ADAS部分需要3到5千颗。相对汽油车动力单车3~5百颗的用量，新能源车用量呈数倍级别增长。很明显，新能源车和AI的发展已驱动被动元件需求进入单机用量和规格齐增的快速增长期。 目前除AI服务器和新能源汽车的快速增长带...

Sir Tim Martin, Harry Styles, Ed Sheeran, Erling Haaland and Mo Salah are among the UK’s 100 biggest taxpayers, according to new rankings. The billionaire brothers behind gambling giant Betfred, topped the Sunday Times 2026 Tax List. Fred and Peter Done paid £400.1m in tax, about half of which relates to gambling duty from their betting shop empire. View image in fullscreen Sir Tim Martin. Photograph: Jonathan Brady/PA Martin, who founded the Wetherspoon’s chain, is eighth with a personal contribution put at just shy of £200m. JD Wetherspoon paid more than £1m tax a pub with the chain of 794 venues pumping £837.1m into the public finances –from levies including corporation tax, business rates, slot machine duty and VAT, about £1m a pub. Martin owns 26.7% of company shares. In an interview, the Brexit-backing businessman criticised the government for adding VAT to pub meals when it is not paid in supermarkets but not for the size of his tax bill. He said: “I can’t complain about the level of taxation really – that’s a political issue. Parties put forward their ideas and voters decide.” View image in fullscreen British author and screenwriter JK Rowling. Photograph: Neil Hall/EPA The eighth edition of the list coincides with an exodus of wealthy people from the UK to offshore destinations in Europe and the Middle East. Five of the figures in the 2025 league table are now resident in Jersey or Guernsey, four in Monaco and two in Portugal. There are others based in Cyprus, Dubai and the US. However, Peter Done, 78, told the newspaper he had no plans to quit Britain. “We owe this country,” he said. “I feel there is an obligation for people that have made the money in that country to pay the tax in that country. Fred and myself are stopping here.” View image in fullscreen Fred Done, pictured in 2015. Photograph: John Walton/PA Wire/PA Images The list also includes Harry Potter author JK Rowling, the Timpson family behind the shoe-mending empire, tech entrepreneur James Dy...

Swiss Alpine bar fire claims 41st victim, an 18-year-old Swiss national toggle caption Cyril Zingaro/Keystone via AP ZURICH — An 18-year-old Swiss national has died in a Zurich hospital from injuries sustained in a Swiss Alpine bar fire, bringing the death toll to 41 a month after the tragedy. The victim died on Saturday, according to the Swiss public prosecutor. The prosecutor said in a statement Sunday it would provide no further information on the status of the investigation. Investigators have said they believe sparkling candles atop Champagne bottles ignited the fire when they came too close to the ceiling at the packed Le Constellation bar in the ski resort of Crans-Montana, less than two hours after midnight on Jan. 1. Authorities are looking into whether soundproofing material on the ceiling conformed with regulations and whether the candles were permitted for use in the bar. Fire safety inspections hadn't been carried out since 2019. Sponsor Message Swiss prosecutors have opened a criminal investigation into the owners — French couple Jacques and Jessica Moretti — on suspicion of negligent homicide, negligent bodily harm and causing a fire by negligence. The court of compulsory measures in the southwestern Valais region on Jan. 12 ordered three months of pretrial detention for Jacques Moretti, but on Jan. 23 ordered his release on bail. With high-altitude ski runs rising around 3,000 meters (nearly 9,850 feet) in the heart of the Valais region, Crans-Montana is a major destination for international alpine skiing competitions.

日本一项调查显示，选民对佩戴口罩的女性政治人物的支持率较低。图为日本首相高市早苗（右）和东京都知事小池百合子。 （法新社） 日本一所大学的研究团队发现，选民对佩戴口罩的女性政治人物的支持率较低，而对男性政治人物则没有这种影响。 共同社报道，这项研究结果于上月发布，正值2月8日大选前夕。 九州大学劳动经济学副教授室贺贵穗说：“人们对戴口罩面孔的看法存在差异，这可能会对女性候选人不利。” 室贺贵穗与当时在新罕布什尔州达特茅斯学院任职的克拉布特里共同开展了这项调查。 她敦促女性政治人物在竞选活动中寻找更具创意的沟通方式，并呼吁选民注意在评判女性政治人物时可能存在的偏见。 这项调查于2020年8月进行，调查对象为1508名年龄在18至74岁之间的日本民众。调查人员向受访者展示了一些政治人物的照片，包括已故首相安倍晋三和东京都知事小池百合子，照片中人物分别佩戴和未佩戴口罩。 受访者需根据支持度、吸引力、能力、智慧、力量和可信度这五个方面，以五分制对照片进行评分。 男性政治人物的各项评分均未出现下降，而女性政治人物的评分仅在支持度方面出现了具有统计学意义的显著下降。

Amazon’s Melania Trump documentary has reportedly beaten box office expectations and recorded the strongest start of any documentary in over a decade, taking more than $8m at the US box office during its lavishly-promoted opening weekend. Simultaneously, though, Melania fell substantially short of turning a profit because it cost $40m to make and $35m to promote. And Amazon – which recently cut 16,000 corporate jobs – has been hit with criticism that making the documentary about the first lady, and paying so highly for it, was little more than a ploy to curry favor with her husband, Donald Trump, during his second presidency. The film, which follows Melania Trump as she prepared to re-enter the White House in early 2025, was beaten at the box office by two horror films: Iron Lung and Rachel McAdams’s Send Help. But it managed to beat out action film Shelter. Melania registered its earnings by targeting older conservatives and has been noted for carefully playing to subjects close to what are said to be interests of her husband’s fans: Patriotism, Christianity and the importance of family. The Hollywood Reporter said that the Brett Ratner-directed documentary defied predictions that it would bomb “based on empty, or nearly empty, seat maps in cinemas across the country”. The outlet estimated that the film had done well with conservatives in the southern US, specifically women over the age of 55, who made up 72% of the opening-day audience. EntTelligence, a research firm, estimated that rural theaters would contribute roughly 46% of the opening-weekend box office – and those in Republican counties would contribute about 53% of ticket sales. Top box office states for the film included the conservative stalwart states of Florida and Texas. Melania, though, has received overwhelmingly negative critical reviews. The Guardian judged it to be “dispiriting, deadly and unrevealing”. “There is a decent documentary to be made about the former model from Slovenia, but this one i...

Key Points PepsiCo has increased its dividend for 53 years in a row. Main Street Capital offers two lucrative streams of dividend income. Verizon has raised its dividend in each of the last 19 years. 10 stocks we like better than PepsiCo › I think I have an addiction to buying dividend stocks. I love collecting the passive income they provide, which I often reinvest into buying additional dividend-paying stocks. As my passive income grows, I become more financially independent. I recently bought even more shares of PepsiCo (NASDAQ: PEP), Main Street Capital (NYSE: MAIN), and Verizon (NYSE: VZ). Here's why I can't stop buying these high-quality, high-yielding dividend stocks. 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 » Treating its investors like royalty PepsiCo likely needs no introduction. The global snacking and beverage company's portfolio includes iconic brands such as Pepsi, Gatorade, and Doritos. These brands generate durable cash flow to cover the company's 3.8%-yielding dividend, which is three times higher than the S&P 500's yield of 1.1%. The company has a remarkable record of increasing its dividend. It raised its payment by another 5% last year, extending its growth streak to 53 consecutive years. That qualifies PepsiCo as a Dividend King as a company with 50 or more years of annual dividend increases. PepsiCo's long-term target is to deliver 4% to 6% annual organic revenue growth and high-single-digit earnings per share growth. The company aims to enhance its growth rate through strategic investments. It bought Poppi for $1.7 billion last year and strengthened its long-term strategic partnership with Celsius, which included increasing its stake to 11%. These growth drivers should enable the company to continue increasing its dividend payment. Dual income streams Main Street Capital is a business development company (BDC). It provides debt and equity capital to low...

1月31日，瑞士滑雪胜地克莱恩—蒙塔纳的星座酒吧外临时搭建的纪念地上摆满鲜花。 （路透社） 瑞士当局星期天（2月1日）说，一名在阿尔卑斯山滑雪胜地克莱恩—蒙塔纳的酒吧火灾中受伤的18岁青年不幸去世，火灾的死亡人数上升至41人。 路透社报道，瓦莱州检察官办公室的声明说，这名瑞士公民在苏黎世的一家医院接受治疗，并于1月31日去世，但未提供更多信息。 在“星座酒吧”（Le Constellation）火灾中遇难的大多数人是青少年，116名伤者中仍有一些人因严重烧伤在医院接受治疗。 据两名知情人士向路透社透露，最新遇难者是一名居住在西部城市洛桑附近的年轻人。 数百人与失去亲人的父母星期六（1月31日）在洛桑附近的湖畔小镇吕特里（Lutry）举行游行，要求“真相与正义”。 在火灾中失去17岁儿子亚瑟的西特雷对一群手捧白玫瑰的人们说：“今天，我们只是要求公正和真相，之后，我们会哀悼。” 瑞士的邻国意大利也有公民在火灾中丧生，他们对酒吧老板获得保释表示抗议。 瑞士当局本周早些时候说，他们将允许罗马检察官办公室查阅已收集到的证据。

Apple CEO sends blunt message iPhone 18 fans can’t ignore thestreet.com

Venice carnival, flamenco fashion and a fire beast: photos of the weekend The Guardian’s picture editors select photographs from around the world Atzeries the fire beast sets off its flying sparks during the Foguerons festival that celebrates Saint Antony in Barcelona. Photograph: Matthias Oesterle/Shutterstock

民调显示，日本首相高市早苗内阁的支持率为63.6%，增加0.5个百分点。 （法新社） 共同社1月31日、2日1日实施了针对日本众院选举了解选民支持倾向的全国电话舆论调查（第二次选情调查）。 关于比例代表的投票意向，回答自民党的受访者为36.1%，较一周前的上次调查增加6.9个百分点。立宪民主党和公明党组建的新党“中道改革联合”为13.9%，增加2.0个百分点。 小选区方面，支持执政党阵营候选人的为44.0%，增加4.0个百分点。支持在野党阵营候选人的为26.5%，增加3.7个百分点。 首相高市早苗内阁的支持率为63.6%，增加0.5个百分点；不支持率为25.6%，增加0.6个百分点，均与上次调查结果基本持平。 “尚未决定”小选区投票意向的为27.2%，比例代表为21.3%。对中道表示“不期待”的为71.0%，增加4.0个百分点；表示“期待”的为23.1%，减少5.1个百分点。

格隆汇2月1日丨比特币跌破77000美元，日内跌2.23%。

It's built to flourish with or without current AI hype. Artificial intelligence (AI) is far from a new technology. People have been using it for quite some time, whether knowingly or not. However, the current AI boom is a technological turning point that many would argue we haven't seen since the introduction of the internet. As with any new industry trend, there's been a lot of investor optimism, but at some point, this turns into speculation. We've seen this story plenty of times in the market. This isn't to say AI's a bubble (the technology is here to stay), but current valuations rightfully bring on skepticism. Fortunately, there's one company that's a key piece to the AI supply chain that you can count on regardless: Taiwan Semiconductor Manufacturing (TSM 2.66%). TSMC's role in the AI world A good way to understand TSMC's AI role is by working backward from the AI applications and tools people use daily. For those AI tools to be effective, they need to be trained on more data than you can fathom. This data is stored, and AI models are trained inside data centers that contain hardware like graphics processing units (GPUs), AI accelerators, and central processing units (CPUs). Different companies design these hardware pieces, but they have one thing in common: They rely on TSMC to manufacture their chips and bring them to life. It has a virtual monopoly on manufacturing advanced AI chips because it's the one company tech companies trust the most to be efficient and handle the necessary scale. Expand NYSE : TSM Taiwan Semiconductor Manufacturing Today's Change ( -2.66 %) $ -9.03 Current Price $ 330.52 Key Data Points Market Cap $1.7T Day's Range $ 329.11 - $ 339.69 52wk Range $ 134.25 - $ 351.33 Volume 510K Avg Vol 13M Gross Margin 59.02 % Dividend Yield 0.93 % Thriving with or without AI If the current AI boom slows or turns out to be a bubble, many companies will fail or find themselves in trouble, scrambling to pivot their businesses. TSMC isn't one of them. C...

It's built to flourish with or without current AI hype. Artificial intelligence (AI) is far from a new technology. People have been using it for quite some time, whether knowingly or not. However, the current AI boom is a technological turning point that many would argue we haven't seen since the introduction of the internet. As with any new industry trend, there's been a lot of investor optimism, but at some point, this turns into speculation. We've seen this story plenty of times in the market. This isn't to say AI's a bubble (the technology is here to stay), but current valuations rightfully bring on skepticism. Fortunately, there's one company that's a key piece to the AI supply chain that you can count on regardless: Taiwan Semiconductor Manufacturing (TSM 2.66%). TSMC's role in the AI world A good way to understand TSMC's AI role is by working backward from the AI applications and tools people use daily. For those AI tools to be effective, they need to be trained on more data than you can fathom. This data is stored, and AI models are trained inside data centers that contain hardware like graphics processing units (GPUs), AI accelerators, and central processing units (CPUs). Different companies design these hardware pieces, but they have one thing in common: They rely on TSMC to manufacture their chips and bring them to life. It has a virtual monopoly on manufacturing advanced AI chips because it's the one company tech companies trust the most to be efficient and handle the necessary scale. Expand NYSE : TSM Taiwan Semiconductor Manufacturing Today's Change ( -2.66 %) $ -9.03 Current Price $ 330.52 Key Data Points Market Cap $1.7T Day's Range $ 329.11 - $ 339.69 52wk Range $ 134.25 - $ 351.33 Volume 510K Avg Vol 13M Gross Margin 59.02 % Dividend Yield 0.93 % Thriving with or without AI If the current AI boom slows or turns out to be a bubble, many companies will fail or find themselves in trouble, scrambling to pivot their businesses. TSMC isn't one of them. C...

Afraid the AI Boom Is Overheated? This Infrastructure Play Is Your Safety Net. fool.com

Palantir stock analysis - should you invest in PLTR earnings MSN

New York, Feb 1, 2026, 10:42 EST — The market has closed. Micron Technology’s stock slid 4.8% to close at $414.88 on Friday, trailing a weaker tech sector. The memory-chip giant enters the new week in a vulnerable spot. (Investing) The move is significant since Micron is seen as a high-beta play on the AI expansion: it supplies DRAM and NAND memory for data centers and heavy computing equipment. Its stock has effectively acted as a stand-in for that demand narrative. (Reuters) The market turned more unsettled late in the week following Donald Trump’s choice of Kevin Warsh to head the Federal Reserve. Investors struggled with volatile mega-cap earnings and ongoing inflation fears. “Markets are calibrating to Trump’s pick … and the outlook for monetary policy,” said Michael Hans of Citizens Wealth. Angelo Kourkafas at Edward Jones pointed to “a combination of investor concerns” weighing on risk assets. (Reuters) The storage and memory sector showed mixed signals. SanDisk jumped on a strong quarterly forecast fueled by AI-driven demand for data storage. The company also highlighted an ongoing memory chip shortage, putting rivals like Seagate Technology and Western Digital under the spotlight. (Reuters) Macro and megacap events dominate the calendar ahead. Alphabet and Amazon report earnings this week, while the February 6 U.S. jobs report could shake up rate expectations—and with them, the “AI trade” that’s lifted chip stocks. “For those companies where expectations have become very, very lofty, the onus is going to be on them to deliver,” said Jim Baird of Plante Moran Financial Advisors. Sid Vaidya at TD Wealth added that capital spending on AI infrastructure “will not see any letup.” (Reuters) Traders focusing on Micron will be keen to see if the recent dip is merely profit-taking or signals a broader de-risking move. Crucial indicators to watch are memory prices and insights from cloud and server spending. Demand for high-bandwidth memory (HBM), a speedy DRAM varia...

NAJAnaja/iStock via Getty Images Introduction New Mountain Finance ( NMFC ) is a Delaware-incorporated Business Development Company [BDC], investing in what it calls ‘defensive growth companies.’ This includes acquiring real estate assets, providing they are backed by a triple net lease agreement. When it comes to acquiring senior secured debt, New Mountain focuses on middle-market companies with an EBITDA ranging from $10M to $200M. The ‘defensive’ nature of its investments is related to focusing on companies that are acyclical, have a niche market dominance, or benefit from sustainable secular growth. Data by YCharts At the end of September, the BDC was running a $3.1B balance sheet, backed by $1.26B in equity. That’s a pretty solid debt-to-total-assets ratio, and that’s the main reason why I am keeping an eye on the debt securities that have been issued by this BDC. Solid results make the baby bond appealing We still have to wait for the BDC to report its full-year results, but it’s always interesting to have a look back at the previous few quarters. And as my focus remains on the BDC’s debt securities, I’m fine with seeing the general evolution of the earnings and balance sheet, as I’m of course mainly interested in New Mountain’s ability to make interest payments and repay the debt at maturity. As you can see below, New Mountain reported a total investment income of approximately $80.5M, which represents a $13M decrease compared to the third quarter of the previous financial year. While that doesn’t look great from an optical point of view, the total amount of expenses also decreased, but by ‘just’ $10M. Additionally, there was a higher amount of management and incentive fees that was waived, resulting in a net investment income of $34M, which is just $1.4M lower than in the third quarter of 2024. NMFC Investor Relations On a per-share basis, this results in a Net Investment Income of $0.32 per share , which just covered the quarterly dividend . While a payout ...

Aerospace, energy, healthcare, mobility, and media. Thirty years ago, we’d be talking about General Electric. Today, we’re talking about Elon Musk. He’s the CEO of Tesla, xAI, and SpaceX, which also owns the telecoms company Starlink. He owns the social media platform X. He’s developing neural implants and underground tunnels. He’s put at least $10 million behind fertility research. Musk also appears to be merging several of these ventures into one conglomerate. Musk has frequently been likened to Henry Ford. A more apt comparison might be to John D. Rockefeller or Jack Welch, who took GE from an ailing industrial company into a sprawling conglomerate. The Welch comparison could turn out to be particularly valid if Musk follows through on rumors that he’s trying to merge some combination of SpaceX, xAI and Tesla. The similarities aren’t all encompassing, of course. GE was a company, and Musk is a person. But the distinction can get a bit blurry in an era when his net worth eclipses the market cap of 97% of the S&P 500. In fact, Musk’s net worth is approaching $800 billion, almost as much as GE at its peak when adjusted for inflation. At its height, GE was often inseparable from its chairman, Jack Welch. Musk, the individual, captivates many of his peers, just like Welch did. Executives today talk of being “hardcore” and espouse “first-principles thinking,” just like CEOs of the 1980s sought to emulate Welch through “accretive” mergers and mass layoffs. Techcrunch event TechCrunch Founder Summit 2026: Tickets Live On June 23 in Boston, more than 1,100 founders come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investors who have shaped the industry. Connect with peers navigating similar growth stages. Walk away with tactics you can apply immediately Save up to $300 on your pass or save up to 30% with group tickets for teams of four or more. TechCrunch Founder Summit: Tickets Liv...

When Welch took the helm of GE in 1981, he inherited a company adrift, having lost a fifth of its market cap in the preceding decade. His first move was to trim headcount. In fact, he laid off so many employees — more than 100,000 in his first few years — that he became known as “Neutron Jack,” an allusion to the neutron bomb, which eliminates people while leaving buildings intact. At one time, not so long ago, GE was the world’s most valuable company, with divisions that made light bulbs, jet engines, home appliances, X-ray and ultrasound machines, steam turbines, locomotives, and television shows, among dozens of others. Today, Musk’s empire spans Tesla, SpaceX, xAI (including with X), Neuralink, and The Boring Company, all companies with very different goals. Sure, Teslas drive through The Boring Company’s holes, xAI’s Grok is available in the automaker’s vehicles, and Tesla has supplied its Megapack batteries to xAI’s data centers. But apart from sharing Musk’s ownership or leadership, they’ve had limited interaction with each other until recently, when Tesla and SpaceX separately invested in xAI. Musk, the individual, captivates many of his peers, just like Welch did. Executives today talk of being “hardcore” and espouse “first-principles thinking,” just like CEOs of the 1980s sought to emulate Welch through “accretive” mergers and mass layoffs. The similarities aren’t all encompassing, of course. GE was a company, and Musk is a person. But the distinction can get a bit blurry in an era when his net worth eclipses the market cap of 97% of the S&P 500. In fact, Musk’s net worth is approaching $800 billion, almost as much as GE at its peak when adjusted for inflation. The Welch comparison could turn out to be particularly valid if Musk follows through on rumors that he’s trying to merge some combination of SpaceX, xAI and Tesla . Musk has frequently been likened to Henry Ford. A more apt comparison might be to John D. Rockefeller or Jack Welch, who took GE from a...

Key Points While relocating as a retiree isn't easy, it could help you stretch your income. Relocating could also mean getting access to better healthcare and weather. You may want to relocate if you don't have a large-enough support system nearby. The $23,760 Social Security bonus most retirees completely overlook › For many people, the idea of packing up and moving to a whole new location can be daunting. And if you're retired, you might find the idea of relocating exceptionally challenging. But there may come a point when relocating becomes the right choice for you. Here are a few signs that moving elsewhere could be the best decision for your retirement. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » 1. Your living costs are too high for your income Now that you're retired, you may be limited to a pretty fixed income of Social Security. If you're lucky, there may be a small pension or retirement savings account providing you with some additional income as well. If the cost of living in your ZIP code is higher than average and you're struggling to keep up with your bills, it may be time to consider relocating. Remember, Social Security will pay you the same monthly benefit no matter where you live. Choosing a new locale could help those checks go a lot further. 2. You don't have great access to healthcare As you get older, your health-related needs might change. If you're unhappy with your local healthcare system or frustrated by your lack of Medicare plan choices, it may be time to consider moving elsewhere. Having access to better healthcare is especially important if you're managing chronic conditions that impact your quality of life. 3. You don't have a wide-enough social network or support system For many people, work can serve as a social outlet. Once you're no longer working, it's important to have access to people you can spend time w...

tadamichi/iStock via Getty Images The following segment was excerpted from the Ariel Focus Fund Q4 2025 Commentary. Shares of gold mining company, Barrick Mining Corporation ( B ) jumped on strong quarterly results, aided by higher gold production, lower costs and favorable commodity prices, which delivered record cash flow. The company’s solid liquidity supports its commitment to shareholder returns, reflected in increased share repurchases and a raise in its quarterly dividend. Meanwhile, the interim CEO has launched an operational review to ensure Barrick remains focused on safe, consistent execution going forward. Boutique asset manager, Affiliated Managers Group, Inc. ( AMG ) also advanced as the company continues to build momentum, with strong demand for differentiated, tax-aware investment solutions, particularly in the U.S. wealth channel. Affiliates like AQR are leading innovation in after-tax optimization strategies, reinforcing AMG’s position in liquid alternatives. Management is also reshaping its U.S. wealth platform, highlighted by the upcoming Brown Brother Harriman (BBH) partnership. This collaboration reflects AMG’s ability to provide strategic capital and develop scalable, high-value offerings, including structured credit and expanded wealth solutions. Looking ahead, AMG expects meaningful earnings growth supported by record inflows into alternatives, contributions from recent investments, and disciplined capital allocation. With alternatives already a significant part of its business, AMG is focused on further scaling this segment to drive long-term value for clients and shareholders. Additionally, consumer healthcare company, Johnson & Johnson ( JNJ ) traded up on strong earnings and a raise in full-year revenue guidance. With a sharpened focus on six priority areas—Oncology, Immunology, Neuroscience, Cardiovascular, Surgery and Vision—the company is entering a new era of accelerated growth and innovation. Performance was augmented by key growth ...

Key Points ASML saw its orders surge in the fourth quarter. The company is benefiting from foundries and memory makers rushing to increase capacity. However, overall growth has been moderate due to a pull-forward in Chinese demand. 10 stocks we like better than ASML › Semiconductor equipment company ASML Holding (NASDAQ: ASML) saw its order momentum continue in the fourth quarter. While the stock didn't gain much traction from its earnings report, it is still up more than 30% in January and has more than doubled over the past year, as of this writing. Given the stock's strong performance to start the year, let's take a closer look at its latest results and prospects to determine whether or not it's too late to buy shares of ASML. 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 » Strong order outlook ASML is one of the most important companies in the semiconductor value chain. It has a monopoly on extreme ultraviolet (EUV) lithography technology, which is the manufacturing process used to make advanced chips, such as graphics processing units (GPUs) and high bandwidth memory (HBM). As foundries and memory makers rush to increase capacity due to the artificial intelligence (AI) infrastructure boom, the company is seeing strong order growth. For the quarter, its revenue rose 5% higher to 9.7 billion euros ($11.6 billion) and came in toward the high end of the company's guidance range of 9.2 billion to 9.8 billion euros ($11 billion to $11.7 billion). Its equipment sales rose 7% year over year to 7.6 billion euros ($9.1 billion), while its service revenue slipped 1% to 2.1 billion euros ($2.5 billion). During the quarter, the company sold 94 new lithography systems and eight used systems compared to 119 new and 13 used systems a year earlier. Approximately 48% of its sales came from higher-priced EUV technology versus 42% a year ago, while 36% of its sales were to China versus 27% year ...

Micron US5951121038 Driven by surging demand for artificial intelligence infrastructure, Micron Technology is embarking on a multi-billion dollar global manufacturing expansion. The memory chip leader has announced significant capital investments across Asia, positioning itself to capture a larger share of the high-performance memory market essential for AI systems. The company's ambitious capital expenditure plans are backed by robust financial performance. For its first fiscal quarter of 2026, reported on December 17, 2025, Micron posted revenue of $13.64 billion. This figure represents a sequential increase exceeding 20%. Net income climbed to $5.24 billion, while operating cash flow reached $8.41 billion. These results underscore the strong market demand for memory solutions from data center and AI customers. Concurrently, Micron is refining its strategic focus. In December 2025, the company announced its exit from the Crucial consumer business, a move intended to sharpen its concentration on enterprise and data center clients. Strategic Moves Across Key Regions Singapore: A $24 Billion Commitment On January 27, 2026, Micron broke ground on a major new semiconductor fabrication facility in Singapore. The project involves a planned investment of approximately $24 billion over a ten-year period. The facility, which will feature 65,000 square meters of cleanroom space, is notable as Singapore's first two-story wafer production site. Production is scheduled to commence in the second half of 2028, with a focus on NAND technology. Additionally, a previously announced High-Bandwidth Memory (HBM) packaging facility at the same location is expected to begin supplying advanced memory products from 2027. The combined projects are projected to create around 3,000 new jobs in Singapore. Taiwan: Acquiring Established Capacity Shortly before the Singapore groundbreaking, on January 17, 2026, Micron signed a letter of intent to acquire Powerchip Semiconductor Manufacturing Corp...

Nate Hovee/iStock Editorial via Getty Images The Abrdn Australia Equity Fund Inc ( IAF ) has a decent financial tilt, which works given the Australian monetary situation. The AUD is a decent spot to park cash with the dollar shunned, especially as rates appear to be pointing upward rather than downward as consumer sentiment surged towards the end of the FY 2025. Other than that, in the USD-denominated businesses of commodities, which feature heavily across all indexes and quasi-indexed funds like IAF, we are seeing major strength in bullion on a similar USD-shunning thesis due to geopolitical and monetary factors. Australia is a great market that we are indexing towards in The Value Lab as well. However, we prefer EWA over IAF, as in our previous coverage , and we think that the market is developed and idiosyncratic such that missing the opportunity to make single allocations renders any fund or ETF approach very suboptimal. IAF Breakdown We can focus on the sectoral look for now . IAF Sectors (Morningstar) Basic materials means quite a lot of exposure to metallurgical coal, some iron ore, and a nice dose of copper as well, but also bullion. The latter two are the most immediately interesting. Copper is interesting on the secular electrification thesis that has turned it from a commodity to more of a strategic resource. This is uncontroversial. Bullion, particularly gold , is interesting in the USD's supremacy as the reserve currency under threat from erratic and isolationist US policy, particularly disintegrating trade policy, that reduces the utility of the USD as a reserve currency and therefore also amplifies speculative threats around the fiscal position of the United States that is unsustainable without continued demand for dollars. Gold prices have been surging, as even a slight indexation by central banks and other major allocators away from USD reserves to gold reserves means major incremental demand for gold. Other major exposures are financial services. T...

asbe A historic surge in silver prices has triggered a global buying frenzy, distorting markets, squeezing manufacturers and even encouraging smuggling into China’s high-premium bullion hubs, The Wall Street Journal reported. Silver ( XAGUSD:CUR ) prices in New York surged more than 250% over the past year, briefly topping $114 an ounce before collapsing more than 30% on Friday. In China, futures climbed even higher, driven by speculative demand and silver’s critical role in solar manufacturing. Analysts say the rally was fueled less by supply shortages than by financial speculation, dollar skepticism and momentum trading, prompting comparisons to meme stocks, past silver bubbles and the failed 1980 Hunt brothers’ squeeze. Price gaps between regions grew so wide that traders began flying silver by air, an unusual move for a bulky metal typically shipped by sea. Dealers report unprecedented demand, with some precious-metals sellers seeing silver overtake gold as their top-selling product. The surge has been devastating for manufacturers, particularly solar-panel producers. Silver now accounts for up to 20% of solar-cell production costs, up from single digits just a few years ago. Major Chinese panel makers have warned of heavy losses, raised prices and accelerated efforts to replace silver with cheaper materials like copper. Hong Kong authorities last week intercepted a car headed into mainland China carrying nearly 500 pounds (226.8 kg) of smuggled silver, concealed inside cookie tins, milk-powder containers and snack boxes. The haul, worth about $782,000, was likely bound for Shenzhen’s vast bullion market, where silver trades at a premium. There are signs the rally could unwind. Refiners are ramping up scrap processing, industrial users are reducing silver content and overall industrial demand slipped last year. Financial strains are also mounting: high borrowing costs for silver, especially in London, have stressed banks and refiners, limiting their ability to s...

Software stocks are witnessing their worst month since the Lehman Brothers collapse. Investors are now reassessing whether traditional business models can withstand the rapid advance of artificial intelligence. The iShares Expanded Tech-Software Sector ETF (NYSE:IGV) is on pace for its steepest monthly drop since October 2008. The selloff intensified Thursday, when the sector plunged roughly 6% in a single session — its worst day since March 2020. The move followed a collapse in Microsoft Corp. (NYSE:MSFT), which dropped more than 12% – the stock's worst day since the lockdown shock. Don't Miss: The AI Marketing Platform Backed by Insiders from Google, Meta, and Amazon — Invest at $0.85/Share If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Indeed, Microsoft beat Wall Street expectations in its latest financial disclosure. But investors instead focused on slowing Azure cloud growth and cautious guidance. This is reigniting concerns about the pace and durability of AI monetization. High-flying software names like Palantir Technologies Inc (NASDAQ:PLTR), Oracle Corp (NASDAQ:ORCL), AppLovin Corp (NASDAQ:APP) are all down about 20% for the month. The selloff has traders asking whether this move is technical or something more structural. Chart: Software Stocks Eye Worst Month Since October 2008 Analysts Question Whether Software Businesses Can Survive AI Wall Street analysts are increasingly leaning toward the idea that the sector selloff reflects changing fundamentals and not short-term disappointment — as AI begins to rewrite how software is built, sold, and consumed. Thomas Shipp, head of equity research at LPL Financial, posed a blunt question in a Thursday note: “Can software survive AI?” "The software business has been one of the best businesses historically," Shipp said. "It is inherently scalable, as once software has been developed, there is a very low incremental cost each time it is sold."...

Key Points The Vanguard Dividend Appreciation ETF isn’t the highest-paying dividend stock fund. It focuses on stocks that are growing their dividends, without emphasis on current yield. It has a portfolio that is more technology-heavy than you might think. 10 stocks we like better than Vanguard Dividend Appreciation ETF › Many investors believe dividend ETFs are inherently boring. That is, they invest in stocks of mature businesses with high dividend yields and are generally best suited for retirees or others seeking current income from their portfolio. And to be fair, this is true in many cases. However, there are some exciting dividend ETFs in the market that can get you exposure to the latest technology trends and set you up for a great income stream in the future. One in particular is the Vanguard Dividend Appreciation ETF (NYSEMKT: VIG), and in this article, we'll take a closer look at why it could be a great addition to your portfolio -- even if growth, not income, is your priority. 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 » The Vanguard Dividend Appreciation ETF The Vanguard Dividend Appreciation ETF tracks an index of a little over 300 dividend stocks, but it doesn't focus on current yield. Instead, the index includes stocks with an excellent track record of increasing dividends every year, or those expected to increase dividends regularly in the future. Like most Vanguard ETFs, this one has a low expense ratio of just 0.05%. Because of this strategy, the fund can invest in certain stocks that most other dividend ETFs cannot -- specifically in the technology sector. In fact, the tech sector is the portfolio's largest allocation. Consider Broadcom (NASDAQ: AVGO), which happens to be the ETF's top holding. Broadcom only has a 0.8% dividend yield at the current stock price, which is too low to meet the criteria for most dividend ETFs. However, the company has increased i...