伊朗官方Press TV播发声明，一位不具名的高级国安官员列出了结束中东战争美国和以色列需满足的五大条件： 敌方彻底停止“侵略和暗杀”； 建立具体机制确保战争不再重演； 就战争损害赔偿和赔款作出有保障且明确界定的支付安排； 在所有战线以及整个地区所有抵抗组织之间实现战争的结束； 国际社会承认并保障伊朗对霍尔木兹海峡行使管辖权的主权权利。 责任编辑：李桐

In early trading on Wednesday, shares of NVIDIA topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.5%. Year to date, NVIDIA has lost about 3.7% of its value. And the worst performing Dow component thus far on the day is Verizon C

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Brett_Hondow/iStock Editorial via Getty Images Eaton ( ETN ) is increasingly emerging as a critical beneficiary of the artificial intelligence infrastructure buildout, according to BNP Paribas senior equity research analyst Andrew Buscaglia. Following investor meetings across Europe, the firm said in a March 24 research note that it has higher conviction in Eaton ( ETN ) as a 2026 top pick, citing what it views as a continued underappreciation of the company’s role in enabling AI-driven power demand. Buscaglia emphasized that power availability remains a key bottleneck in the expansion of AI data centers. Eaton’s ( ETN ) portfolio of electrical components and systems positions it as a central supplier in addressing that constraint, providing infrastructure necessary to support accelerating compute demand. Data Center Exposure Provides Visibility BNP Paribas highlighted Eaton’s ( ETN ) growing exposure to data centers as a key driver of forward visibility. Approximately one-third of the company’s Electrical Americas backlog, estimated at roughly $15 billion for 2025, is tied to data center demand. The firm noted that customer engagement is increasing, with improved insight into long-term buildout plans. The transition toward 800-volt systems is also expected to be favorable for Eaton ( ETN ), as management believes it will increase content per installation while maintaining strong pricing dynamics. Margin Expansion Expected As Headwinds Ease While Eaton’s ( ETN ) Electrical Americas segment has faced margin pressure from capacity expansion, BNP Paribas expects those headwinds to subside. The firm forecasts segment margins exceeding 31.5% by the end of 2026, with a path to more than 32% over the longer term. This outlook addresses investor concerns regarding margin sustainability and supports the broader thesis of improving profitability as recent investments begin to normalize. Boyd Acquisition Enhances Strategic Positioning The recent acquisition of Boyd, a provider...

QCOM powers a shift to AI-driven smart cameras, enabling real-time insights, scalable management and smarter security across industries.

《科创板日报》3月25日讯（记者 徐赐豪）， 拼多多今日发布2025年第四季度及全年财报。 在核心财务数据方面，拼多多的营收依然保持了稳健的增长。财报显示，2025年第四季度，拼多多收入为1239亿元人民币，较上年同期的1106亿元增长12%；2025年营收为4318亿元，较上年同期的3938.亿元增长10%。 然而，与营收增长形成对比的是，本季度及全年集团净利润均出现同比下降。拼多多2025年全年归属于公司普通股股东的净利为993亿元，较上年同期的1124.亿元下降12%；2025年第四季度净利润同样下降11%至245亿元，低于上年同期的274亿元。 值得注意的是，财报披露，截至2025年12月31日，拼多多拥有4223亿元人民币的现金、现金等价物和短期投资，较上年底的3316亿元显著增加 截至发稿，拼多多报收106.79亿美元，上涨8.87%，市值1516.04亿美元。 重投供应链，再造一个拼多多 拼多多主要业务主要包括在线营销服务和交易服务两部分。其中2025年在线营销服务及其他收入同比增10%至2178亿元；交易服务收入同比增长9%至2141亿元。 然而，成本端扩张速度明显超过营收增速。全年营业成本同比增长23%至1888亿元，增幅约为营收增速的两倍，主要源于履约费用、带宽及服务器成本以及支付处理费用的上升。总运营费用同比增长13%至1484亿元，其中研发费用增幅最为突出，同比增长30%至165亿元，主要因员工相关成本及带宽服务器支出增加。 成本的加速扩张直接压缩了利润空间，其全年GAAP口径经营利润同比下滑13%至946亿元。 对于这一市场高度敏感的利润指标，拼多多联席CEO赵佳臻今日（25日）业绩会上解释称，利润的下降主要源于公司对供需两侧的持续投入。 赵佳臻在会上表示：“正如我们多次强调的，与短期的业绩相比，我们更愿意专注于反哺生态带来的长期价值。” 他透露，公司在电商行业首次推出了千亿级别的惠商战略，并承担了“送货入村”订单的二段中转费，将更多偏远乡村纳入包邮区，这些真金白银的投入直接影响了当期的利润表现。 “在下个阶段，公司的战略重心不是业务多元化，而是要聚焦供应链的高质量发展，继续发挥我们在供应链上长期积累的优势，实现平台的再造。相信下一个三年，我们将有机会再造一个拼多多。”赵佳臻在今日的业绩会上继续说道。 他进一步补充道：“重投供应链，再造一个...

油价上涨正在挤压美国人的钱包。 油价上涨正在挤压美国人的钱包。 对萨拉・劳亨而言，油价飙升意味着她每天要少吃一顿饭。 作为一名精打细算的预算达人，劳亨本月在加油站的开销多了近 70 美元。为抵消这笔额外支出，她开始在担任环境科学家的工作期间不吃午餐 —— 原本自制三明治和沙拉每周能为她省下约 30 美元，但现在她总感到疲惫和饥饿。 更让她焦虑的是，她担心即便美以对伊朗的战争结束，油价仍会居高不下，并进一步推高食品价格。她已经开始减少新鲜蔬菜和肉类的采购，更多地去折扣杂货店购物，只为保住储蓄能力、偿还医疗债务。 “除了其他所有开销，我们没人还能承受油价再涨，”31 岁的劳亨说。她住在纽约州奥尔巴尼郊区，每天往返通勤 50 英里。“想要攒下钱真的、真的太难了。” 劳亨是数百名向美国有线电视新闻网（CNN）写信、讲述高油价对家庭财务影响的美国人之一。许多人表示，他们被迫削减生活必需品开支，同时压缩旅行、娱乐等能拉动经济的消费支出。 萨拉・劳亨正通过上班不吃午餐来抵消油价上涨带来的额外支出。 这种困境并非只困扰那些本就入不敷出的人。不少自认为是中产阶级、拥有体面工作的人也向 CNN 表示，他们不得不勒紧裤腰带 —— 尤其是在多年来一直应对食品、水电、住房等必需品价格高企之后。 据美国汽车协会（AAA）数据，本周三全美汽油均价为每加仑 3.98 美元，较一个月前上涨 1.01 美元，涨幅达 34%。 2 月底爆发的中东冲突中，伊朗实际上封锁了承载全球 20% 石油供应的霍尔木兹海峡，导致油气价格暴涨。但在唐纳德・特朗普总统宣布美国将推迟对伊朗能源基础设施的进一步打击后，周一油价和汽油价格大幅下跌。 劳亨的担忧不无道理。比价网站 GasBuddy 的石油分析主管帕特里克・德哈恩表示，冲突结束后，油价可能每天仅回落 1 至 3 美分。与此同时，专家称，高油价将渗透到包括食品在内的所有需要运输的商品中。 收入缩水 对一些人来说，尤其是外卖配送员和需要长时间驾车工作的人，油价飙升意味着他们的实际收入在减少。 马克・埃尔南德斯是为 沃尔玛 配送货物的独立承包商，他整理了自己的收据，细数着自己常去的山姆会员店油价的持续上涨：2 月 24 日每加仑 2.45 美元；3 月 3 日 3.08 美元；3 月 10 日 3.35 美元；3 月 17 日 3.69 美元；3 月 20 日 3.83...

LGT Chairman, Prince Max von und zu Liechtenstein tells Bloomberg’s David Ingles he's concerned about rising geopolitical risks and called on investors to spread their assets globally at the Bloomberg Family Office Summit 2026 in Hong Kong. (Source: Bloomberg)

Yahoo Finance Senior Reporter Brooke DiPalma takes a closer look at some of Wednesday morning's trending tickers and stories.Arm Holdings (ARM) stock is soaring after the company announced it will sell its own data center chips.Merck (MRK) will buy Terns Pharmaceutical (TERN) for $6.7 billion.On Holding's (ONON) CEO Martin Hoffmann will step down in May.

Why Microsoft (MSFT) Stock Is Ripe for a Turnaround Zacks Investment Research

Why Microsoft (MSFT) Stock Is Ripe for a Turnaround zacks.com

中国大量科研投入形成了巨大的无形资产，其大规模应用为中国赢得全球竞争力 3月25日，世界知识产权组织中国办事处高级顾问白光清在中关村论坛分论坛上表示，中国在谋划整个创新体系的过程中，一定也在谋划知识产权的战略。图：中关村论坛 【财新网】 “知识产权在整个中国的创新体系当中发挥着独特作用。”3月25日，世界知识产权组织中国办事处高级顾问白光清在中关村论坛分论坛上表示，中国在谋划整个创新体系的过程中，一定也在谋划知识产权的战略。中国将知识产权作为一种无形资产实现大规模应用，最终赢得了全球的竞争力，也实现了战略的目标。 他以当下如火如荼的人工智能浪潮举例称，在模型调用过程中，每百万Token（词元），中国只需要0.3美元，而美国需要5美元，相差17倍。这就是中国的竞争力。

hapabapa/iStock Editorial via Getty Images By Khaveen Jey, CFA, FMVA, Portfolio Manager @ Khaveen Investments & Nicholas Tan, Investment Research Analyst @ Khaveen Investments In our previous analysis of Lam Research ( LRCX ), we determined that the company had a strong market positioning in the etch market, due to its early mover advantage, which had contributed towards long-standing customer relationships. We further expected the company to sustain a strong presence in the etch market, supported by its developments in its core etch products, such as Akara , in early 2025. Since our last coverage, its stock price has surpassed our previous price target of $127.53 (22/10/2025) and is currently trading at $244.25 (24/02/2026), which is almost double our previous target price. We also found that its H1 2025 revenue growth (24.87%) was much higher than our 2025F projections (8.45%). In this analysis, we thus analyze why revenue grew much higher than our forecasts, and whether the company could sustain its revenue growth. We first evaluate the reasons that our projections were not in line. We then analyze whether China could sustain its revenue growth, as the region accounts for the largest portion of its revenues and has the 2 nd highest geographic growth. We then evaluate whether the transition to Gate-All-Around ( GAA ) could provide market growth opportunities, as management indicated that the transition to GAA “equates to roughly $1 billion in incremental Lam SAM for every 100,000 wafer starts per month of capacity”. Higher-Than-Expected Growth We first analyze the reasons that our previous projections were not in line. We thus compile their revenue breakdown by end market and our previous projections to evaluate this further. We also compile their respective market breakdown to compare their growth against the market. Company Data, WTS, TrendForce, Khaveen Investments Company Data, WTS, TrendForce, Khaveen Investments In H1 2025, the company grew by 24.87% YoY and...

格隆汇3月25日｜默沙东(MRK.US)涨2.2%，报118.95美元；生物技术公司Terns Pharmaceuticals(TERN.US)涨5.5%，报52.76美元。 消息面上，默沙东宣布将以67亿美元收购Terns Pharmaceuticals。默沙东对Terns提出的收购价为每股53美元，较其最新收盘价溢价6%。此次收购将使默沙东获得Terns旗下实验性药物TERN-701。该药物正被测试用于治疗慢性髓性白血病，一种起源于骨髓、导致白血病细胞失控增殖的癌症。(格隆汇)

Anthropic's fight with the Pentagon is expanding to Congress. Sen. Adam Schiff (D-CA) is working on a new bill to "codify" Anthropic's red lines and ensure humans make the ultimate decisions in questions of life and death, and Sen. Elissa Slotkin (D-MI) recently introduced a bill to limit the Defense Department's ability to use AI for mass surveillance of Americans. The Trump administration blacklisted Anthropic earlier this month after it set limits on how the military could use its AI models, designating it a supply-chain risk. Anthropic has filed suit , accusing the government of violating its constitutional rights. It's insisted that the … Read the full story at The Verge.

Saksit Sangtong The rise of artificial intelligence has created the most significant catalyst the cybersecurity industry has experienced in two decades, according to Wedbush. The financial firm finds industry stalwarts such as CrowdStrike ( CRWD ), Palo Alto Networks ( PANW ), Zscaler ( ZS ), Check Point ( CHKP ), and Rubrik ( RBRK ) stand out as the most likely winners of the AI windfall over the coming years. "We note that today we estimate cyber security represents roughly 5% of IT budgets and will likely be doubling over the next few years to 10% as protecting the tidal wave of agents, AI use cases, and broader technology push poses massive risks to many organizations we spoke with on the floor," said Wedbush analysts following their discussions at the RSA Conference this week in San Francisco. "In essence, AI makes cyber security even a higher priority but, importantly, will attach this technology to many strategic AI deployments, which will translate into hundreds of billions of dollars incrementally coming into the industry over the coming years." AI startups OpenAI ( OPENAI ) and Anthropic ( ANTHRO ) have released their own cybersecurity agents recently, such as Codex Security and Claude Code Security , respectively. However, Wedbush does not believe these types of developments will diminish the need for cybersecurity vendors. "The increased use of AI has dramatically lowered the cost, skill, and time required to execute sophisticated attacks while massively elevating their scale/precision," Wedbush added. "AI agents and autonomous workflows dramatically increase the attack surface further, with more APIs, more machine identities, more lateral movement risk, and more cloud-native workloads creating entirely new vectors that legacy point solutions were never designed to address. Critically, AI does not reduce the need for endpoint, identity, cloud, and SOC automation; it multiplies it as more enterprises deploy LLM-powered agents….cyber becomes the enforcemen...

This high-growth tech stock has some glaring flaws.

Key PointsPalantir’s controversial reputation could impact its commercial business.

Image source: The Motley Fool. Wednesday, March 25, 2026, at 8 a.m. ET Need a quote from a Motley Fool analyst? Email pr@fool.com Continue reading

Key PointsNvidia sees huge growth from its new computing systems.

Microsoft (NASDAQ: MSFT) may be the most grounded way to play the AI energy bottleneck, while Oklo (NYSE: OKLO) and Navitas (NASDAQ: NBIS) offer bigger upside if execution and infrastructure finally line up. That tension is what makes this setup so compelling right now.

Supreme Court Limits ISPs' Liability For Online Piracy The Supreme Court on Tuesday sharply curtailed when internet service providers can be held liable for copyright infringement committed by their subscribers , handing a major victory to broadband companies and dealing a setback to Sony Music Entertainment and other major labels seeking to combat online piracy. In a 7-2 decision (with Justices Sotomayor and Jackson concurring only in the judgment), the justices ruled that Cox Communications Inc. cannot be held liable for the actions of customers who illegally downloaded and shared songs using its network , even after the company received more than 163,000 infringement notices from copyright holders. The ruling reverses a $1 billion jury verdict against the Atlanta-based cable and internet giant and clarifies long-standing uncertainties about secondary liability under U.S. copyright law. The case stemmed from a 2018 lawsuit in which the labels accused Cox of willful contributory and vicarious infringement for failing to terminate repeat offenders. A federal jury in Virginia sided with the labels on both theories and awarded $1 billion in statutory damages. The Fourth Circuit upheld the contributory-liability finding but tossed the vicarious-liability verdict, leading to the Supreme Court appeal on the contributory issue alone. Writing for the majority, Justice Clarence Thomas said a service provider is liable for a user’s infringement only if it intended its service to be used for that purpose. “The provider of a service is contributorily liable for a user’s infringement only if it intended that the provided service be used for infringement, which can be shown only if the party induced the infringement or the provided service is tailored to that infringement,” he wrote. Such intent exists only when the provider actively induces infringement - such as by marketing a product as a tool for piracy - or offers a service that is “not capable of ‘substantial’ or ‘commerci...

格隆汇3月25日｜国内商品期市夜盘收盘涨跌参半，化工品涨幅居前甲醇涨3.01%；农副产品全部上涨，玉米淀粉涨0.54%；油脂油料多数上涨，豆粕涨0.27%；能源品跌幅居前，低硫燃料油跌3.02%；非金属建材全部下跌，玻璃跌1.32%；黑色系全部下跌，焦炭跌0.36%。

WASHINGTON, March 25, 2026--Data Center World today announced its keynote presentations, featuring top executives, engineers and global industry leaders from Google, NVIDIA and Oracle, among others, to address the most urgent challenges facing the industry: scaling AI infrastructure, securing power and rethinking how data centers are designed, built and operated in the age of AI.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Neos Nasdaq-100 High Income ETF (Symbol: QQQI) where we have detected an approximate $430.6 million dollar inflow -- that's a 4.8% increase week over

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Large Cap Core Active ETF (Symbol: BLCR) where we have detected an approximate $569.3 million dollar inflow -- that's a 17.0% increase week o

美国总统特朗普任命多位科技行业领袖组成新的总统科技顾问委员会，其中包括Meta Platforms首席执行官马克·扎克伯格、风险投资家Marc Andreessen、 甲骨文 的拉里·埃里森以及英伟达首席执行官黄仁勋。该委员会将重点关注人工智能政策及其他科学相关议题。 白宫周三公布该委员会成员名单，并表示总统科技顾问委员会将由白宫人工智能和加密事务主管David Sacks，以及白宫科技政策办公室主任Michael Kratsios共同担任主席。 该委员会是硅谷与特朗普政府加深联系的最新标志，业界领袖支持他降低监管和税收负担、提升美国在前沿领域地位的举措。 其他入选成员还包括 谷歌 联合创始人Sergey Brin、 戴尔 科技首席执行官Michael Dell，以及甲骨文执行副董事长Safra Catz。白宫表示未来还将任命更多成员。但尚未明确委员会何时召开会议。 责任编辑：李桐