会展龙头米奥会展（SZ300795，股价10.26元，市值30.67亿元）也加入了AI（人工智能）大模型的投资热潮。 5月25日晚间，米奥会展发布公告，宣布公司拟以自有资金1.5亿元人民币，认购“AI六小龙”之一上海阶跃星辰智能科技股份有限公司（以下简称阶跃星辰）发行的股份。交易完成后，米奥会展将获得阶跃星辰的少数股东权益。 会展龙头跨界投资背后，阶跃星辰正处在高速扩张和冲刺上市的关键阶段。 据多家主流媒体报道，阶跃星辰在今年内已完成多轮巨额融资，累计金额或超200亿元，并已拆除红筹架构，为赴港IPO（首次公开募股）做准备。 值得注意的是，此次公告中，米奥会展也依据《上市公司信息披露暂缓与豁免管理规定》相关要求进行了相关流程，对此次标的公司股权结构信息以及相关财务数据豁免披露。 会展龙头斥资1.5亿元认购阶跃星辰股份 “公司目前主营境外会展的策划、组织、推广及运营服务，截至本公告披露日，公司与标的公司无任何业务往来。”根据米奥会展5月25日公告，公司1.5亿元的投资将全部以自有资金出资，构成对阶跃星辰的增资。 由于米奥会展对应持股比例极低，且未获得阶跃星辰任何董事席位或派驻管理人员的权利，因此无法对标的公司任何决策施加影响。 对于这笔看似“跨界”的投资，米奥会展也在公告中进行了详尽风险提示。米奥会展直言，公司对AI所处领域的行业发展趋势、运营模式熟悉程度有限，可能存在对技术及市场前景研判出现偏差、投资收益未达预期的风险。 此外，阶跃星辰作为初创公司，其经营效益与投资价值受技术研发、市场竞争等多重因素影响，存在不确定性，可能拉长公司的投资退出周期。公司面临的最大风险是“投资本金及相应收益无法收回”。 与此同时，米奥会展也表示，相关投资并不会影响公司的主营业务。公司强调，本次投资在充分保障公司营运资金需求下开展，不会影响公司正常生产经营活动，且公司未就该投资提供任何担保或流动性支持安排。 阶跃星辰年内融资超200亿元，冲刺港股IPO 作为国内大模型领域的新锐独角兽，阶跃星辰正加速融资冲刺港股IPO。 今年1月26日，阶跃星辰宣布完成超50亿元人民币的B+轮融资，刷新了过去12个月国内大模型赛道的单笔融资纪录。该轮融资阵容豪华，不仅有腾讯控股、五源资本、启明创投等老股东跟投，还吸引了上海国投先导基金、国寿股权、浦东创投等国资，以及华勤技术等产业资本的入局。 时隔不到4个月...

格隆汇5月26日｜加拿大央行一位高级官员表示，加拿大的劳动力市场不如以往有活力，这可能会拖累该国经济。该行副行长尼古拉斯·文森特表示，数据显示加拿大存在一个“低招聘-低解雇”的劳动力市场，因为换工作的人变少，而企业因担心失去员工的技能而更倾向于留住他们。文森特说：“存在这样一种风险，即劳动力从生产率较低的行业向生产率较高的行业重新配置的速度放缓。一个流动性较差的劳动力市场会减慢我们对冲击的调整速度，阻碍创新并损害我们的竞争力。这反过来又会削弱我们的生产率，拖累我们的收入增长和集体购买力。”

Polymarket traders are watching one biotech more closely than any other for an acquisition. Viking Therapeutics (NASDAQ: VKTX) carries a 38.5% implied probability of being acquired before 2027, with all-time volume above $1.68 million on that single contract. The hook is obesity. Viking’s VK2735 dual GLP-1/GIP agonist is arguably the most advanced obesity asset not ... If Viking Therapeutics Is Acquired, Here’s Who Wins

寧德時代：與Solarpro Holding合作的大型儲能項目在保加利亞成功併網投運 AASTOCKS.com

Key Points There’s no such thing as a guaranteed inflation-proof investment. But this Vanguard ETF could be good for a high-inflation environment. It offers a 3.47% dividend yield and has delivered strong returns. 10 stocks we like better than Vanguard International High Dividend Yield ETF › Inflation is creeping up again. In April, the Consumer Price Index rose 3.8%, up from 3.3% in March and 2.4% in February and January. Bond yields are going higher. The U.S. 10-year Treasury yield has climbed by about 40 basis points year to date. Bond investors seem to be getting nervous about the chances of higher inflation and more government borrowing. If the economy goes through a period of "higher for longer" inflation, that will be painful for consumers, and it could bring losses to investors. Should you change your investment strategy to cope with higher inflation? Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » How to invest for higher inflation There are no guarantees that any type of investment will perform well during inflation. But one general way to invest for a higher-inflation environment is to buy dividend stocks. These companies tend to have strong balance sheets, steady profitability, and pricing power that enables them to keep paying high dividends even if inflation stays high. Another strategy for high inflation in America could be to buy international stocks. In case the U.S. dollar weakens or the U.S. economy underperforms the rest of the world, international stocks will become more valuable in U.S. dollar terms. That's good news for American investors who want to earn returns in dollars. The Vanguard International High Dividend Yield ETF (NASDAQ: VYMI) can be a good fit for both strategies. During the past six months, it has outperformed the S&P 500 index and the Vanguard Total Internati...

MF3d Varonis Systems ( VRNS ) was initiated with a Sector Weight rating and a $31 price target at KeyBanc Capital Markets on Tuesday. “We see strong secular drivers to the data security market as AI and Copilot adoption amplifies the data governance challenge,” analysts at the firm wrote in a note to clients. “We see Varonis as differentiated through its deep Microsoft integrations, leadership in on-prem and unstructured data, and automation capabilities, though remain cautious on increasing competition and the defensibility of data security posture management from LLMs and platform consolidation. We would look to get more constructive if data security demand strengthens further, competition steadies, execution on recent acquisitions is solid, or there is further traction “up the stack” into DLP, MDDR, and automation. Given these cautions, we see shares as fairly valued at 20x CY27 FCF vs. security peers at 21x.” More on Varonis Varonis Systems, Inc. (VRNS) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript Varonis Systems: Potential For Topline Growth To Accelerate Varonis Systems, Inc. 2026 Q1 - Results - Earnings Call Presentation Varonis signals $814M-$845M 2026 total SaaS ARR, raising outlook after Q1 start Varonis Non-GAAP EPS of $0.06 beats by $0.11, revenue of $173.1M beats by $7.6M

5月26日，阿里云在新加坡面向海外市场发布全新AI产品官网Qwen Cloud、Agent产品MuleRun，以及智能体编程平台Qoder、通用桌面智能体QoderWork的一系列更新，同步实现面向Agent的云基础设施升级。 这是几天前阿里云峰会的延续。当时，阿里云面向国内市场，发布了Agent时代的AI产品官网 “千问云” 。 这两场发布会放在一起看，重点会变得更清楚。阿里云正在把“千问”放到更靠前的位置，让它同时承担模型品牌、产品入口和商业化前台的功能。 过去阿里云的典型入口是云官网、控制台和一系列基础云产品；现在，模型调用、Token Plan、Skills、CLI 和 Agent 工具被聚合到千问云之下。云服务的使用对象也在发生变化，除了人类开发者，还多了能够自主调用工具和模型的Agent。甚至可以说是硅基为主，碳基为辅。 千问云为什么被推到台前？ 国内和海外两场发布会之间，有一个值得注意的细节。 在国内，千问云发布于阿里云峰会。它仍然处在“阿里云发布新产品”的大框架里，表达的是阿里云模型服务平台的升级。到了海外，发布会传播名变成了Qwen Conference，Qwen成为更显眼的主角。这个变化说明，Qwen在海外已经具备独立传播价值。 这和 Qwen 过去几年通过开源积累开发者认知有关。对海外开发者来说，Qwen 是一个具体的模型品牌，在Hugging Face、GitHub、开发者社区和Agent框架中频繁露面。 相比传统云厂商品牌，Qwen的技术标签更直接，社区感也更强。阿里云选择用 Qwen Conference发布Qwen Cloud，是在把开源社区形成的模型声誉转化为海外云服务入口。 官网上， 千问云给自己的定位是：MaaS(模型即服务)平台 。但从官方介绍和产品形态看，它的边界要更广一些。 它聚合了模型API、Token Plan、Skills、CLI、Qwen3.7-Max，以及若干围绕Agent的工具和应用，试图把模型选择、认证配置、用量查询、命令行调用、Agent 可读指令等环节重新组织起来。 这也是千问云和百炼之间的差异。百炼更接近阿里云成熟的大模型开发与应用平台，它偏向生产后台和能力平台。千问云则更偏前台入口和品牌入口，把这些模型服务能力、各类配套工具和相关产品，包装成更容易被开发者和Agent使用的形态。 千问云是阿里云成立17...

White House Investment Delivers Massive Gain The U.S. government's 9.9% stake in Intel, purchased at $20.47 per share last August, has generated an estimated $43 billion in gains as Intel's stock has rallied sharply. According to The Wall Street Journal, Commerce Secretary Howard Lutnick actively supported potential commercial partnerships between Intel and large technology customers as part of broader efforts to strengthen U.S. semiconductor manufacturing, Bloomberg reported on Tuesday. Trump Says U.S. Should Have Asked for Bigger Intel Stake In an interview with Fortune, President Donald Trump said he regretted requesting only a 10% ownership stake in Intel as part of broader U.S. efforts to strengthen domestic chip manufacturing. Trump recalled proposing that the government receive the stake for free and joked that he "should have asked for more" after Intel agreed. He framed the idea as part of a larger economic strategy that combines tariffs, trade deals, and strategic investments to attract capital and manufacturing back to the U.S. Intel Remains Central To US Chip Strategy Trump also pointed to the nation's $38 trillion debt as justification for unconventional government involvement in corporate and industrial policy. The comments added to ongoing investor focus on Intel's role in U.S. semiconductor production and Washington's broader push to reduce reliance on foreign chip manufacturing. Apple Reportedly Explores Intel Foundry Partnership Reports indicated Apple could shift some chip manufacturing work to Intel's foundry business under a preliminary agreement, though the exact products remain unclear. Recently, TF International Securities analyst Ming-Chi Kuo said Apple had already started moving some low-end or legacy iPhone, iPad, and Mac chip production to Intel. Analysts See Potential Upside Bernstein analyst Stacy Rasgon said Intel could attract substantial customer demand if the company successfully manufactures advanced chips at scale. Rasgon added th...

peterschreiber.media/iStock via Getty Images Strategy ( MSTR ) said it did not acquire any bitcoin between May 18 and May 25, and the balance of its USD reserve as of May 25 was $871M. Shares were 1.80% higher at $162.77 during pre-market trading on Tuesday. The company said it did not sell any shares under its at-the-market offering program during the week. As of May 25, MSTR held ~843,738 bitcoins that were acquired at an aggregate purchase price of $63.87B and an average purchase price of ~$75,700 per bitcoin. In December last year, Strategy had announced the establishment of a $1.44B U.S. dollar reserve to navigate short-term market volatility. The USD reserve aimed to support the company's payment of dividends on its preferred stock and interest on its outstanding indebtedness. Additionally, MSTR provided an update on its capital structure. The bitcoin treasury company completed its previously-announced repurchase of ~$1.50B of its outstanding 0% convertible senior notes due 2029 for an estimated cash price of ~$1.38B. The debt repurchase lowers MSTR's aggregate principal amount of convertible notes outstanding from $8.2B to $6.7B. Year-to-date, the bitcoin yield stands at 13.3%, bitcoin gain at 89,378 bitcoin, and gain in USD at $6.8B. More on Strategy Strategy's Operating Business Is A Liability, Not An Asset Strategy Inc (MSTR) Discusses Potential Bitcoin Sales and Dividend Policy Changes Transcript Strategy: Risky Circular Reference, Just Buy Bitcoin Chip stocks lead Nasdaq's gainers this week; Intuit plunges most after Q3 print Strategy acquires bitcoins worth ~$2B in past week

Well-Safe Solutions已获得其首份合同，为英国北海的一位未具名客户提供全面的油井运营和资产执行服务。 该合同将该公司的服务扩展至集成的油井全生命周期服务，将自有资产、工程和运营执行整合于一份合同之下。 根据协议，Well-Safe Solutions将从规划到执行管理整个退役项目，包括地下分析、油井设计工程、钻机提供以及支援船服务。 钻井作业将由Well-Safe Defender号执行。该钻井平台计划于2026年6月动员，之后将直接转往北海北部的另一份合同。 该合同是Well-Safe Solutions今年获得的第四份北海重大退役合同。 Well-Safe Solutions首席执行官Phil Milton表示：“我们的计划一直是将业务定位为能够为客户履行油井运营商的角色，我们很感激能通过这份新合同获得这样做的机会。这份合同以及油井运营商的任命，认可了我们作为具有成本和时间效率以及卓越安全纪录的合作伙伴的资质。” “凭借我们市场领先的资产、技术专 长和 项目管理能力，我们处于 理想 位置，能够在北海承担全面的油井运营责任。” Well-Safe表示，此举正值该地区移动式海上钻井平台供应趋紧之际，目前仅有七座半潜式钻井平台在北海或其附近作业，其中许多已长期受约。 责任编辑：张俊 SF065

*ST宝馨公告，公司控股股东江苏立青集成电路科技有限公司此前被司法拍卖成交的260万股公司首发后限售股，近日已完成全部过户手续。江苏立青持有的公司股份数量由1.88亿股减少至1.85亿股，占公司总股本的比例由26.07%降至25.71%。此外，江苏立青近期还有合计1580.17万股（占公司总股本2.19%）将陆续被司法拍卖。

导语：在冲向二级市场的同时，宇树也在尝试用少量门店撬动经销商、快速铺开线下渠道。该布局必须尽快完成，否则等小米等大厂杀入，其先发优势将被大幅压缩。 宇树向二级市场又迈进了一步。 5月25日，上交所发布公告称，定于6月1日召开2026年第31次上市审核委员会审议会议，审议宇树科技股份有限公司（首发）。 除了资本市场外，宇树还在另一条路上按下了加速键。 在5月底，宇树具身智能体验馆亚洲首店将在静安久光百货开业。而在不到一个月前，宇树首家直营店在北京王府井银泰in88一楼开业。宇树CMO王其鑫表示，未来也会在其他重要城市布局线下直营店。 虽然宇树在今年布局的门店并不多，但这一动作在机器人行业已算激进。目前，智元机器人、松延动力等友商们均无同时开设直营店和体验店的动作。 宇树此举无疑是为了开拓C端市场，进而巩固自身优势、维持高速增长。 目前，宇树业绩已经出现了增速下滑甚至同比下滑的情况。据最新公告的业绩，今年一季度，公司营收为4.23亿元，增速从去年同期的332.64%降至68.69%；扣非净利润0.403亿元，同比下滑52.55%。 相比于同为初创公司的友商，宇树无疑在线下布局中抢到了先发优势。不过，当庞然大物入场时，这种优势还能保持多久？ 01 除了卖货，线下门店还有什么作用？ 在宇树北京王府井银泰in88门店开业前一个月，公司科创板IPO申请获得上交所受理，拟募资42.02亿元，有望成为“A股人形机器人第一股”。 目前，市场对机器人企业的估值逻辑已经从“预期推动”转为“现金流推动”，具备强自我造血能力的企业将享受溢价。 而宇树则可以通过直营店，向市场再次强调自身的盈利能力和稀缺性。 开业当天，王其鑫在谈及“宇树开线下店是否会引发跟风”时，他表示“我觉得首先要有足够的产品力，销量能支撑起线下直营店的运营。” 在门店的经营业绩方面，王其鑫透露公司对单店盈利做过测算，“基本上是可以实现的”。 从他的表态可以看出来，宇树试图通过该直营店向市场传递这样一种信号：公司旗下的产品的竞争力，已经足够支撑一家直营店形成商业正循环。 在智元机器人、松延动力等竞争对手尚未开设直营店的情况下，倘若宇树能够实现“行业首家盈利的机器人直营店”这一成就，无疑可以进一步展示其产品的竞争力，并加强其在资本市场的稀缺性，提升其估值。 据宇树最新公告的业绩，公司是行业内唯一一家已经实现盈利的头部机器人企业...

自动驾驶只会烧钱？ 小马智行第一个不服。 2026年Q1财报一出，数据摆在那里： 总收入3430万美元，同比暴涨145%。Robotaxi乘客车费，翻了4.5倍。车队1700台，年底要干到3500台。 亏损还在，但经营亏损几乎没涨——收入翻倍，亏钱却没翻倍，这是实打实的经营质量。 更重要的是，代表Robotaxi未来商业模式的—— 共建 ，第一次落地：海外杀进克罗地亚（欧洲首个全无人商业化）。 以前大家问：Robotaxi到底能不能赚钱？ 现在小马智行反问：你看看这肌肉，够不够硬？ 小马智行Q1基本业绩 第一个点，是收入增速跑赢亏损增速。 2026年Q1，小马智行总收入3430万美元，去年同期为1400万——涨了145%。 经营亏损，从5604万到5834万，只扩大了4%。 收入翻了一倍还多，亏损却基本没变。这叫经营性杠杆——每一块钱的亏损，换来了更多的收入。 对于还在商业化早期的自动驾驶公司来说，这是比“盈利”更真实的健康信号。 当然，GAAP净亏损扩大到5351万，扩大了43%。 但这里面有“非经营性”因素：投资收益减少了——2025Q4，因投资摩尔线程浮盈致使账面盈利。 去掉股权激励和公允价值变动，Non-GAAP净亏损4120万，比去年同期的2384万有所扩大——因为研发和销售开支在增加，为了支撑更大的车队和更快的扩张。 一句话总结：烧钱换增长的阶段还没结束，但换钱的效率明显提高了。 拆开看收入： 产品收入（主要是自动驾驶域控制器ADC）从360万猛增到1750万，涨了384%。ADC出货量同比增长超过5倍，主要来自低速无人配送、清扫车、物流和人形机器人市场。 而服务收入（Robotaxi + Robotruck）从1040万涨到1670万，涨了61%。 产品收入的增速远高于服务收入，硬件先跑量，服务后赚钱。 但是这也造成 整体毛利率的增长，被利润较低的业务稀释 ： 不过Robotaxi业务仍然很强：同比收入从170万涨到860万，涨了395%。 乘客车费收入更是暴涨456.5%。 车队的增长速度夸张。2025年Q1，小马智行的Robotaxi车队大约350台（第七代车刚开始爬坡）。到了2026年5月，这个数字变成了1776台——一年增长约5倍。 年初立的Flag是“年底车队3000台”，但Q1财报一出，管理层信心爆棚，直接上调到3500台以上 。 背后对应...

NVIDIA’s AI Outlook Boosts AMD Sentiment He also said the company is ramping production of its Vera Rubin platform (Vera CPUs paired with Rubin GPUs), calling it a “very busy second half” for Taiwan’s semiconductor supply chain. China And AI Infrastructure Remain Key Drivers U.S.-China policy remains part of the backdrop: Huang said the U.S. granted licenses allowing NVIDIA to sell H200 chips to Chinese customers. However, he noted that no deliveries have occurred yet, and Reuters previously reported that the U.S. approved roughly 10 Chinese firms to purchase H200 chips. China accounted for over 22% of AMD’s net sales in fiscal 2025, down from over 24% in fiscal 2024 and over 15% in fiscal 2023, according to its latest annual report. Broader tape support is also helping in premarket trade, with Nasdaq (QQQ) up 1.07%, S&P 500 (SPY) up 0.69%, and Russell 2000 (IWM) up 1.10%. AMD designs a variety of digital semiconductors for markets such as PCs, gaming consoles, data centers (including artificial intelligence), industrial, and automotive applications. Its traditional strength was in CPUs and GPUs used in PCs and data centers, but it’s increasingly positioned as an AI hardware contender as spending shifts toward accelerated computing. That’s why NVIDIA’s comments about AI infrastructure, next-generation computing, and a “very busy second half” for Taiwan’s supply chain can spill over into AMD’s tape—investors tend to treat these as demand breadcrumbs for the broader compute stack. Earnings & Analyst Outlook Looking further out, the next major catalyst for the stock arrives with the August 4, 2026 (estimated) earnings report. EPS Estimate : $1.55 (Up from 48 cents YoY) : $1.55 (Up from 48 cents YoY) Revenue Estimate : $11.28 Billion (Up from $7.68 Billion YoY) : $11.28 Billion (Up from $7.68 Billion YoY) Valuation: P/E of 155.8x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price targe...

最近，AI 医疗赛道又跑出了一家超级独角兽。 5月19日，医疗AI公司 Commure 完成 7000万美元 融资，估值达到 70亿美元 ，由 General Catalyst 领投，红杉和摩根士丹利跟投。 资本之所以愿意给出如此高的估值，原因是Commure 切中了美国医疗系统里，那个最昂贵、也最难解决的问题——后台效率。 长期以来， 美国医疗体系一直高度碎片化 。 电子病历巨头通过封闭接口和复杂权限体系，把数据锁死在各自系统里。不同医院、科室和保险机构之间的数据流转极其低效，最终导致大量医生被困在文档、编码、报销和行政流程里。 结果就是，美国医疗系统每年仅管理和行政成本，就要消耗约 1 万亿美元 。大量医院的运营利润率，甚至只有 2%-3% 。 而 Commure 想做的，是 利用 AI 打通整个医疗运营链路 。 从前端的临床文档生成、环境语音记录，到后端的收入周期管理（RCM），Commure 希望把原本大量依赖人工的后台系统，重新变成一个 AI 驱动的自动化网络。 它甚至提出了一个非常激进的目标：要把医疗机构的运营利润率，从目前的 2%-3% ，提升到接近 20% 。 这个想象空间其实非常巨大。 比如，美国最大的医疗集团之一 HCA，年收入超过 1000 亿美元。对于这种体量的医疗机构来说，哪怕运营利润率只提升 1 个百分点，都意味着每年新增数十亿美元现金流。 也正因此，Commure 很快成为当下 AI 医疗领域最受资本追捧的公司之一。 今天，硅基君就带你拆解一下，Commure 到底是一家什么样的公司。 瞄准1万亿美元的医疗行政支出 很多人对 AI 医疗的想象，还停留在“AI 医生诊断疾病”“AI 影像辅助看片”的阶段。 但现实恰恰相反。 至少在当下的美国，最先爆发的需求，其实是 AI 帮医生打杂。 因为美国医疗体系最昂贵、也最低效的部分，其实不在临床，而在后台。 美国医疗系统里，预约、编码、病历书写、保险理赔、申诉处理……这些繁琐的行政工作，过去几十年几乎全部依赖人工完成。 根据美国医学会（AMA）的数据， 美国门诊医生每面对患者1小时，平均还需要额外花近2小时处理电子病历和行政工作 。 有医生直言，自己每天工作14小时，其中8小时都在写病历、处理保险，真正照顾病人的时间只有6小时。 除了繁重的工作外， 美国医药IT系统长期的割裂也严重影响了医院的经营...

Nvidia Corp (NASDAQ:NVDA) CEO Jensen Huang sees a different reality emerging. Speaking on Nvidia’s latest earnings call, Huang argued that artificial intelligence has reached a turning point where generating AI output is no longer just a cost center—it is becoming a profitable business. “The reason is simple. Agentic AI has arrived. AI can now do productive and valuable work. Tokens are now profitable,” Huang said. He added that model developers are now racing to expand capacity as AI-generated output increasingly translates into revenue. Why Profitable Tokens Matter In simple terms, a token is a unit of AI-generated text, code or content. For years, the concern was that serving AI models would remain too expensive, limiting adoption and weighing on profitability. Nvidia argues the opposite is happening. Earlier in the call, Nvidia CFO Colette Kress highlighted how the company’s latest systems continue to reduce the cost of AI inference. Kress said Nvidia’s GB300 platform delivers a 60% reduction in cost per token compared with systems available just six months ago. Lower costs, combined with rising demand for AI services, could significantly improve the economics for model developers and cloud providers. Nvidia Bull Case Huang’s remarks may also explain why Nvidia remains confident that AI infrastructure spending is still in its early innings. If AI-generated output is becoming profitable, demand for computing power may continue to rise rather than slow. More profitable AI applications would likely require more inference capacity, more data centers and ultimately more chips. That logic underpins Nvidia’s broader view that the build-out of AI factories is accelerating, and that AI infrastructure spending could eventually reach trillions of dollars annually. For investors, Huang’s “tokens are now profitable” remark may have been one of the most revealing comments of the earnings call—not because it described Nvidia’s latest quarter, but because it offered a glimpse i...

Nvidia CEO: AI Crosses Critical Threshold, Tokens Now Profitable - NVIDIA (NASDAQ:NVDA) Benzinga

Karoon Energy在按计划对浮式生产储卸油装置进行为期28天的维护和修复停产之后，已重启巴西海上Baúna项目的生产。 公司表示，产量已提升至每日约11，500桶油，之后将恢复自然递减。 Karoon预计，在更换SPS-92井的电潜泵以及计划在2026年第三季度进行PRA-2脐带管的回收和重新连接之后，年中前后还将有每日9，000至10，000桶的产量回归。 公司表示，维护停产于4月14日开始，按计划如期完成，预计也将控制在预算范围内。 停产期间完成的工作包括：更换部分管道和生产总管系统、关键系统升级、结构部件和配件的更换、表面处理和涂装作业，以及对FPSO的水下船体检查。 Karoon表示，自2月份开始的、由浮式酒店支持的更广泛的维护和修复活动正在按计划推进。工作范围包括更换超过100吨的管道和结构件，以及对约2万平方米的基础设施进行涂装。 公司补充称，综合维护工作预计将提高系统稳定性，并支持FPSO维持90%至95%的持续运行效率。 Karoon巴西执行副总裁兼国家经理Marco Brummehuis表示：“我对这一复杂维护项目的出色交付感到非常高兴。在停产期间，我们完成了超过13万工时的作业，且无任何伤害记录。这是我们的员工和承包商团队共同努力的非凡成果，我衷心感谢每一位参与者。” 责任编辑：张俊 SF065

财联社5月26日讯（记者 高萍） 近日，老虎、富途等因非法开展跨境展业被监管点名处罚一事引发市场较大关注。而随着跨境金融监管升级，跨境保险市场进入大众热议话题。 有保险行业内人士对财联社记者分析，持牌机构、保险从业人员超出业务范围，宣传、推介、销售或组织安排购买境外保险机构产品，均属于违法违规行为。 而内地居民投保香港保单，需亲赴香港投保并签署相关保险合同。如在境内投保香港保单，则属于非法的“地下保单”，境外保单不受我国境内法律保护。实际上，一直以来，监管对跨境售险乱象处于严监管态势。 违规宣传仍存 “地下保单”藏隐患 依托全球化投资布局、多币种资产配置等优势，香港保险受到内地投资者青睐。数据显示，2025年全年，香港保险新单 保费 达到了3,309亿港元，较2024年大幅增长51%。值得一提的是，香港保监局自2025年起不再单独披露内地访客赴港投保专项保费数据，而从2024年的水平看，新业务中有28.6%来自内地访客。 谈及香港储蓄险获内地居民青睐，一位保险中介人士对财联社记者分析，由于香港保险机构管理的资金可投资范围为全球市场，收益表现往往会好于内地保险产品，从而受到消费者追捧。 根据香港保险业监管局现行规定，如未获得授权，香港保险业务员和保险经纪人均不可在内地直接销售香港保险。同样，内地保险代理人与保险经纪人也不能代理香港保单。 “内地居民投保香港保单，需亲赴香港投保并签署相关保险合同。如在境内投保香港保单，则属于非法的‘地下保单’，既不受内地法律保护，也不受香港法律保护。”此前，多地地方金融监管局风险提示明确界定。 但在实际操作中，仍有部分个人或机构突破法律法规限制，在境内以产品说明会、理财知识讲座等名义宣传、推介境外保险产品，或安排有意向者赴境外投保，滋生“地下保单”隐患。 5月26日，在内地社交媒体上，财联社记者亦发现，有IP属地为香港的博主发布香港储蓄险新品测评等内容，账号标注“HK保险规划师” “10年内服务600+内地客户”等标签。 此类线上违规引流等已被多地监管重点点名整治。2026年3月， 湖南 省地方金融管理局发布风险警示，点名境外保险线上揽客等违规营销乱象。文中提及，不少粉丝数量颇高的自媒体账号以“保险咨询”“资产配置”“海外规划”等名义开展运营，推文多以“境外保险优势解读”“香港保单投保指南”“跨境资产配置攻略”等为主题，推介包含香港保险...

铃木敏文走了。 他做了一件极少有企业家做到的事：带领一家零售企业，完整穿越了日本经济的至暗时刻。 1990年泡沫破裂，1997年亚洲金融危机，2008年全球金融海啸，2011年东日本大地震。三十年间，日本GDP近乎零增长，消费信心长期冰封。就在这样的宏观背景下，7-Eleven的营收和利润却持续逆势增长，门店从四千家扩充到了两万家。 这绝非运气，而是几种被反复锤炼出的底层能力。 当下的中国消费市场正进入结构性调整期。供给过剩、流量见顶、预期收缩，价格战打到全行业难以盈利。创业者开始习惯将困局归咎于宏观周期，但7-Eleven的故事反复证明了同一件事：周期从来不是借口。能在衰退中增长的企业，从不等风来，而是自己长出翅膀。 7-Eleven究竟是如何穿越周期的？沥金拆解了铃木敏文的核心做法，总结出值得中国消费企业深思的七个启示。 7-Eleven创始人铃木敏文 来源：网络 启示一：衰退期不降价反而卖更贵的东西 1990年代日本泡沫破裂后，零售业的第一反应是集体降价。 超市打折，百货清仓，所有人都觉得消费者没钱了，只能拼便宜。 7-Eleven却做了一件截然相反的事。 它在经济最差的时候推出了黄金面包，价格比普通面包贵出一截；推出了升级版便当，用料更考究，售价也更高。结果，这些高价单品卖疯了。 7-Eleven黄金面包 来源：网络 铃木敏文的判断逻辑很清晰：经济下行期，消费者砍掉的是大额非必要支出。下馆子的次数可能从一周三次减到一周一次。但人总要吃饭，一个300日元的便当，如果口感能媲美便利店门口那家800日元的定食屋，这就不是单纯的消费，而是消费者给自己的心理补偿。 他将此称为日常的小奢侈。经济越冷，人对日常犒赏的需求就越强。一杯好咖啡、一个口感惊艳的饭团、一顿不将就的午饭，花不了多少钱，却能让一整天好过一点。 胖东来在中国验证了同样的逻辑。DL精酿啤酒、DL果汁，之所以能卖到断货，不是因为它是全网最低价，而是它在合理的单价内，提供了远超工业水啤的麦汁浓度与口感。 7-Eleven还有一个特点：极少参与价格战。 铃木敏文认为，频繁促销是在训练消费者等折扣。今天打八折，下周他不买，非要等你打七折。品牌价值就是这样被自己消耗殆尽的，好东西从来不需要靠降价拉复购。 中国消费企业目前最大的焦虑是价格战，但价格战的终点不在于价格底线，而在于企业能否在一个合理的价格带里，提供远超预...

Alones Creative/iStock via Getty Images I’ve written about Rocket Lab ( RKLB ) in the past and indicated that the stock was approaching the lift-off stage. Despite the gains in the stock, I think there is still room for the company to grow. Management has been transforming the company into a platform with its most recent acquisitions and strategy of vertical integration. There’s a lot going in the company right now but in this article I’d like to focus on a few key things First Quarter Analysis RKLB Looking at the Q1 2026 financials of Rocket Lab, we can see the benefits of vertical integration and economic scale unfolding. Revenues in Q1 2026 grew from $122.6 million last year to $200.3 million a growth rate of 63.5%. What is even more impressive is that gross profit grew even faster at 117% from $35.2 million last year to $76.5 million in Q1 2026. This implies Gross margin improvement. Operating loss also decreased by 5.4% from $59.2 million in Q1 2025 to $56 in Q1 2026. However that was driven by the increased R&D spend which went up by $25.4 million YoY for a total of $80.5 in Q1 2026. I think this increased R&D spend could be attributed to the upcoming Neutron 1st launch as well as the increased in technological capabilities and verticals of which I will describe more below. Rocket Lab’s balance sheet is also improving as Convertible debt was cut by 2/3 to $36.9 million. Total Liabilities for the company was at $555.6 for a Debt to Equity ratio of 0.25x. Total cash now sits at $1.205 billion with total liquidity of greater than $2 billion. The company also disclosed plans to possibly conduct a large-scale equity offering program that could raise an additional US$3 billion via selling stock in the future. While this will depress RKLB stock price in the near-term (shares dropped by close to 7% on the announcement), management’s track record of aggressive value-adding acquisitions should make this worth it in my view RKLB Strategy of Vertical Integration is Accele...

近年来，随着人工智能、物联网、汽车电子、消费电子、云计算等应用领域的发展，算力产业也发展迅猛。 最近算力领域迎来重磅IPO。格隆汇获悉，5月22日，超聚变数字技术股份有限公司（简称“超聚变”）向深交所递交招股书，拟在创业板上市，保荐人为中信证券。 超聚变提供行业领先的 AI服务器、通用计算服务器 等算力产品，与浪潮信息、中科曙光是同行。 如今国内算力市场情况如何？不妨通过超聚变来一探究竟。 01 河南郑州算力巨头冲击IPO，估值最高800亿元 超聚变注册地位于河南自贸试验区郑州片区，其前身超聚变有限成立于2021年，并在2025 年整体变更设立股份有限公司。 股权结构方面，本次发行前，超聚能持有超聚变约31.38%的股份，为控股股东，而超聚能背后是河南省国资委。 此外， 中国移动旗下的中移资本持有超聚变13.76%股份 ，超聚变员工持股资管计划持股7.98%，ECH、和谐健康保险、深圳鹏峰、电信投资、煜联科技、中网投基金等均为公司股东。 公司发行前股权结构，图片来源于招股书 截至2025年末，超聚变共有3712名员工，其中研发人员占比为35.59%，销售人员占32.73%。 管理层方面，超聚变的董事长马剑平出生于1978年，硕士学历。他曾在河南省财政厅工作十几年，历任支付中心干部，办公室副主任科员、主任科员、副主任，预算局副局长、预算局局长，副厅长；还曾在周口市人民政府工作，2025年11月至今担任超聚变董事长。 副董事长、总经理刘宏云1971年出生，本科学历。他曾陆续担任过中国电子科技集团公司第十四研究所员工、爱立信（中国）通信有限公司南京分公司督导，并曾在华为技术有限公司历任工程师、总监助理、亚太地区部副总裁等职务，还曾担任超聚变董事长兼总经理。 本次IPO，超聚变拟向社会公开发行股票占发行后总股本不低于10%且不高于20%，拟募集资金80亿元，据此估算， 公司估值在400亿元至800亿元之间。 公司所募集的资金在扣除发行费用后，将用于新一代算力基础设施研发及产业化项目，超聚变智慧制造园区及研发中心项目，面向智能算力、AI 以及供电架构的关键技术研发项目，补充流动资金。 02 超9成营收来自数据中心服务器，客户集中度较高 超聚变的核心业务为算力。 公司提供AI服务器、通用计算服务器等算力产品，并在城企数智业务、能源智慧解决方案等新兴业务领域进行探索。 从主要产品...

一段关于猪肉抗生素的超标数据，直接把双汇这家中国肉制品行业的标杆企业再次推上了舆论的风口浪尖。 事情发生在几天前。黑龙江省市场监督管理局的一纸通告显示，双汇发展的控股子公司望奎双汇北大荒食品有限公司生产的“猪后鞧肉”被检测出林可霉素含量高达7700μg/kg，而国家食品安全标准的限定值是200μg/kg。超标整整37.5倍。 一时间，双汇股价盘中一度暴跌超过5个百分点，截至5月26日收盘，每股价格报收24.52元，总市值缩水至850亿元。这家年收入接近600亿元的肉制品巨头，又一次在同一个地方栽了跟头。 每一次食品安全事件的曝光，最终买单的都是股民和消费者。那么，这一次的“锅”到底应该谁来背？ 双汇还值得消费者信任吗？ 01 这次超标到底有多严重？ 林可霉素，简单说就是一种用在畜禽养殖中的抗生素，用来预防和治疗生猪等动物的细菌感染。 根据国家标准，这类抗生素在猪的肌肉里残留不能超过200μg/kg。而双汇子公司这批产品的残留量，达到了惊人的7700μg/kg。 超过国家限量标准37倍。这个数字放在食品安全行业里，意味着什么？ 根据黑龙江市场监管局的信息，长期或过量摄入林可霉素超标的食品，可能引发胃肠道反应、恶心呕吐、腹泻，严重时可能导致伪膜性肠炎；过敏体质还可能引起皮疹、瘙痒，甚至过敏性休克；大剂量摄入甚至可能影响血液系统，引起白细胞和血小板减少。 更值得关注的是，涉事企业望奎双汇北大荒曾对样品真实性提出异议，但最终被判定“异议不成立”。 换言之，这个检测结果是板上钉钉的，不存在“被冤枉”的可能。 在舆论发酵后的第一时间，双汇方面给出的回应是：“ 公司已于第一时间成立专项工作组进行全面核查。问题主要出在上游养殖环节。 涉事批次产品是2025年8月生产的，目前已没有该批次在市场流通。该产品主要是上游养殖环节出现了问题，后续公司将加大对供应商的管理，加强兽药批次的监测点。 ” 双汇发展证券事务代表在接受记者采访时也表示，“后续将加大生猪供应商管理，加强兽药残留监测频次”。 听起来是不是有点耳熟？ 2011年，双汇“瘦肉精”事件曝光，公司董事长万隆召开万人大会公开道歉，宣布对每一头生猪进行“瘦肉精”在线逐头检测。当时公司承诺增加检测费用3亿元，确保“18道质量检验关”守住底线。 14年后，检验环节变成37.5倍超标的产品漏网出库，消费者的信任怎么经得住这样的反复消磨？ 0...

HDFC Bank TheKaran/iStock Editorial via Getty Images Overview In my previous analysis on HDFC Bank ( HDB ) I had assigned an HOLD rating driven by mixed signals from the KPIs, uncertainty surrounding the repo rate cut and the mixed opinion on the merger. It is now time to relook at the prospects of HDFC Bank at this stage when similar uncertain conditions continue. A Seeking Alpha analysis mentioned current RBI policies as potential headwinds for the business prospects of HDFC Bank. The figure below shows the price chart for the past 1 year and it is a clear signal about how HDFC Bank has been in a bear run, being down by 31.96%. HDFC Bank Price Chart (Seeking Alpha) Recent events like the merger between HDFC Bank and HDFC and the stepping down of the chairman and independent director Atanu Chakraborty were a major cause of the bear run. This, coupled with the current uncertain macroeconomic scenario added to the pressure on the investor expectations surrounding HDFC Bank. The recent earnings call, however, suggested that operational trends may be stabilizing faster than investors expected. However, immediately jumping in to invest expecting a bull run would be overly optimistic and therefore a deeper understanding is required to understand what could be the forward-looking aspects. Merger Impact The merger led to a significant pessimism regarding the prospects of HDFC Bank because while there was significant cause of optimism regarding the synergy expected from the merger, there were significant downsides as well. One of the primary downsides was the pressure on liquidity. While HDFC Bank is a bank that comes under several government regulations, HDFC was an NBFC which did not come under any of the regulations. Therefore, post the merger, HDFC Bank inherited HDFC Limited’s large home loan portfolio of INR 6.25 lakh crore whereas that of HDFC Bank stood at INR 1.02 lakh crore. However, it did not receive sufficient CASA accounts to fund them and therefore, the merge...

白宫国家经济委员会主任凯文·哈塞特表示，一旦霍尔木兹海峡重新开放，油价下跌应能“立即”惠及美国消费者。 哈塞特在福克斯商业频道发表讲话。 “我认为，我们应该很快就会看到能源价格和汽油价格回落至其应有的水平，”他补充道。 责任编辑：江学思

大金重工通过其子公司唐山大金海洋工程有限公司，与荷兰船东Jumbo Maritime签署合同，建造两艘新一代多用途重吊船。 该合同价值约1.56亿美元，涵盖两艘载重吨位为2.5万吨的船舶的设计、建造和交付，计划于2028年和2029年分阶段交付。 每艘船长约163米，宽约30米，型深约16米。 船舶将配备两台额定起重力各为1200吨的重型起重机，联合起吊能力可达2400吨。 据大金重工介绍，该船将用于海上风电重型设备运输、海上油气模块运输、深水海洋工程施工以及重大工业货物的运输。 公司表示，该船将符合国际船级社和清洁能源航运标准，并具备“绿色和智能”设计特点。 责任编辑：张俊 SF065

Eoneren/E+ via Getty Images Proving Why A Strong Buy Last Year Was Entirely Justified I remember being met with a fair bit of skepticism when I first issued a Strong Buy for Nebius ( NBIS ) last year. Now about 6 months later the stock is up over 170%. There were real concerns about execution and ensuring that all the GPUs and compute power was actually contracted and locked up. That concern has been put to rest now with renting prices continuing to rise. This has fueled part of the share price over the past few weeks. I’m still very bullish on the stock and it’s like I said last year: “Nebius: The Only Hyperscaler Worth Buying Right Now” Coverage History (Seeking Alpha) In April this year it was reported rental prices for H100 rose by 40% since the lows back in October 2025. Then in May NVIDIA ( NVDA ) announced it was raising the rental prices by 20% on H100. This goes straight to the top line for NBIS. CFO Colette Kress revealed that rental prices for the company’s H100 GPUs rose 20% in 2026 while older A100 GPUs climbed 15%, signaling severe chip shortages across the entire AI compute stack The most compelling part here though being that even the older GPUs f rom NVDA are seeing a rise in rental prices. The thing is that one of the risks that existed before with companies like NBIS was that the useful life of these GPUs was lower than what was being accounted for. 4 years seems to be the actual lifespan. But NVDA released the A100 back in 2020, and we are 6 years on from that and the rental prices are still quite high. One site puts the rental price of A100 at $1.49/h and H100 at $2.49/h. I’ll be frank and say I don’t particularly care about the exact number here. I care more that the something that should have fully depreciated is still able to pull in over half of the revenues of what the news GPUs are able to. It’s essentially creating a prolonged revenue generation period, with much, much higher margins as well. Previous Unit Economics (Author) In my first a...

近日，Solarpro Holding与宁德时代合作的601MWh大型储能项目在保加利亚成功并网投运。该项目投运后相当于将当地全国储能装机规模一下提升约15%，大幅提高了风能、太阳能的能源占比，保障了电力系统的稳定运行。Solarpro Holding与宁德时代在未来两年内，还将进一步扩大储能项目规模。

格隆汇5月26日｜据港交所文件，海澜之家集团股份有限公司向港交所提交上市申请书。

Taiwan has overtaken India to become the fifth-largest stock market in the world, driven by the significant surge in the revenue of the semiconductor giant Taiwan Semiconductor Manufacturing Company. According to Bloomberg, Taiwan's stock market capitalisation reached $4.95 trillion in market capitalisation, overtaking India at $4.92 trillion, behind only the US, China, Japan and Hong Kong. What is driving Taiwan's rise? Taiwan's meteoric rise is driven by the Taiwan Semiconductor Manufacturing Company (TSMC), which now accounts for 42 per cent of the benchmark index TAIEX or Taiwan Stock Exchange Capitalisation. The chipmaker's shares have rallied 46 per cent this year, driven by the massive demand in the AI ecosystem, which many analysts are terming as the “NVIDIA proxy effect”. NVIDIA does not manufacture its own hardware; it designs chips. It is reliant heavily on TSMC for its hardware manufacturing. Every time NVIDIA secures a multibillion-dollar contract, its revenue flows into TSMC, triggering immediate and massive rallies. While Foxconn assemble the complex physical AI servers and AI factories that house NVIDIA's components. Taiwan's financial regulator recently changed the regulation about domestic funds that invest in a single stock can hold up to 25 per cent of their net asset in any listed company, up from the previous 10 per cent. This will further attract investors to TSMC. Add WION as a Preferred Source Is India really falling behind? India is falling behind in total market capitalisation of its stock market, mostly driven by the record outflow in the Foreign Institutional Investors, driven by the rising crude oil prices and a depreciating Indian domestic rupee. It has lost $380 billion in market cap from its peak valuation of $5.3 trillion in January 2026. The Benchmark NIFTY 50 has fallen by 8.08 per cent, while the BSE Sensex has fallen by 10.8 per cent. However, Wall Street is divided on the valuation of Taiwan and AI buildout. Analysts view the I...