Just_Super/iStock via Getty Images There are three main talking points today. The first is the war. While it continues to rage, more oil is reportedly moving through the Strait of Hormuz and pipelines that bypass the choke point entirely. President Trump is again holding out the possibility that the war ends shortly. Second, Japanese Prime Minister Takaichi is in Washington today. To be a fly on the wall as she explains how the US-imposed constitution hamstrings its ability to commit escort ships, despite her and her predecessor seeking to liberalize the understanding of the restraints on the use of force. Third is the Bank of Canada and the Federal Reserve meetings. Neither central bank will change policy. The Federal Reserve will update its economic projections. Amid a wide dispersion of views, the median dot was for one rate cut this year. In the fog of war, there cannot be much confidence in the economic projections, but it is possible the median dot pushes out the cut into next year. Weak economic data before the war may temper the Bank of Canada’s recognition of a potential inflation shock. The US dollar is mostly a little firmer against the G10 currencies. Turnover is quiet. Stocks and bonds are rising. May WTI is recovering from a three-day low near $91.50 today and is back above $94 ahead of the start of the North American session. Prices G10 • The euro traded firmly yesterday. The three-day high was seen in North America near $1.1550. This allowed it to recoup about half of what it lost since last week’s high (~$1.1665). The euro is trading quietly but firmly today. It is mostly trading between $1.1520 and $1.1550. The next retracement is about $1.1570. But ahead of the FOMC meeting later that concludes today, the short-term market may look for euro upticks to sell after a two-day 1.3-cent bounce. • The dollar recorded a four-day low today against the Japanese yen, near JPY158.55 today, slipping through yesterday’s low, slightly above JPY158.70. The JPY158...

In Pakistan ’s southwestern mountains, pickup trucks loaded with plastic cans of fuel smuggled from Iran line dusty roads as youngsters unload the containers, fill smaller cans and strap them onto motorbikes to supply nearby markets. The illicit trade has long thrived in the region but is feeling the knock-on effects of the war which has engulfed the Middle East following US-Israeli strikes on Iran Supplies coming across the 900km (560-mile) border between Pakistan and Iran have dropped by nearly half and driven up prices. Advertisement “Before the war, the rate was good,” Hakeem Ullah, a 35-year-old driver, said. “We used to get petrol for 150 rupees (54 US cents) per litre. But now, after the war, we are getting petrol for 190 rupees.” Vendors transport jerrycans filled with smuggled Iranian petrol on their motorcycles in Balochistan province. Photo: AFP Ullah is one of dozens of young men in the border towns of Balochistan province who transport fuel across the frontier every day in blue Iranian-made Zamyad trucks.

过去做跨境生意，有一条几乎人人默认的规则： 货能顺利进出，比什么都重要。 至于是谁在清关、谁在申报、谁在交税？并不重要。 于是，一整套高效的分工体系慢慢流传下来：有人负责卖货，有人负责送货，也有人负责清关、申报、缴税，各司其职。 这套体系跑了很多年，也养活了一大批人。 但现在，这套体系 距离“退场”还有两天 。 美国海关与边境保护局（CBP）拟于3月20日启动新一轮 进口商身份核查 ， 并注销不符合规范的“记录进口商”（IOR）编号 ，所有新提交的申报单将面临史上最严格的审核标准。 换句话说，货是谁的，谁就得站出来。 交易、申报、担责，每一个环节都得一一对应，否则就要承担扣货、退运、罚款的后果。 从只要货能到，到身份必须真、责任必须清，美区跨境生意正在 告别“蒙混过关”的时代 。 好用但不太“干净”的双清包税 在跨境电商的发展初期，市场上大多以中小卖家为主：卖点小家电、3C配件、化妆品等等。 生意不大、人手不足，资金也紧张，这些卖家对海外关税政策、清关流程、各类申报自然也并不熟悉。卖家自己摸索下来，既费时又费力， 对全链路托管式服务的诉求也愈发强烈 。 跨境物流商洞察到了这一需求，顺水推舟推出了 “双清包税” 服务。 卖家只需要把货物交给货代，剩下的出口清关、目的国清关、缴税、派送，全部由对方“打包处理”。对卖家来说，只需要付一个总价，不用自己处理报关和交税， 省心、省力，成本还可控 。对货代而言，靠规模化运输、清关可以降低成本，也能赚到稳定利润。 双方都能有钱赚，“双清包税”服务久而久之便成为了美区跨境物流的主流模式。 因此，“双清包税”是整个跨境电商行业“趋利避害”的无奈产物，既解决了卖家的问题，也养活了许多跨境货代， 是跨境市场需求所催生、市场环境重压下的产物 。 但高效分工、市场需求使然，并不能掩盖“双清包税”仍是 “灰色空间” 的性质。 一方面，“双清包税”的核心是 对“进口商身份”的弱化甚至隐藏 。 IOR，即法律上对进口货物承担全部责任的主体，而IOR编号就是进口商在美国海关系统里的“身份证”。 谁以IOR身份申报进口，谁就需要对信息真实性、税费缴纳及合规责任负全责。 在完整清关流程里，IOR编号需与进口商主体、EIN税号、授权关系一一对应。IOR编号的有效性，将直接决定货物清关与放行是否顺畅，甚至影响后续的跨境贸易结算。 但在“双清包税”的操作中，进...

由于伊朗战争推高油价，美联储在2026年降息的前景变得黯淡，期货定价目前指向长期维持利率不变，甚至出现加息讨论；抵押贷款利率略有上升，劳动力数据正在软化。 责任编辑：张俊 SF065

解放軍驅離兩架非法侵闖黃岩島領空的菲律賓飛機。 解放軍南部戰區表示，菲律賓兩架C-208型飛機周三未經中國政府批准，非法侵闖中國黃岩島領空。 南部戰區組織海空兵力，依法依規警告驅離，指菲方行為嚴重侵犯中國主權，極易引發誤解誤判，正告菲方立即停止侵權挑釁，稱戰區部隊時刻保持高度戒備，堅決捍衛國家主權、安全和地區和平穩定。

Kevin Dietsch U.S. President Donald Trump again took to his social media platform to press Federal Reserve Chair Jerome Powell on interest rates. Markets, though, are not buying the idea of a near-term rate reduction. "When is “Too Late” Powell lowering INTEREST RATES?," Trump wrote in a post on Truth Social. Rate futures and recent Wall Street projections now point to the first cut no earlier than fall, after Powell's term as Fed chair ends in mid-May. Notably, the o dds of a quarter-point hike are higher than the odds of a cut over the next three months, as market participants continued to digest a murkier, stagflationary outlook as the ongoing Middle East conflict jolted energy markets. Powell could still remain on the Fed's Board of Governors, where his term runs until January 2028, though the window for a rate cut on his watch as chair is rapidly closing. The next meeting in April will be Powell's last as chair. He is also fighting a Justice Department probe tied to his Senate testimony on cost overruns in the Fed's headquarters renovation, although a federal judge has blocked related subpoenas for now and the DOJ is appealing. Meanwhile, the Fed is widely expected to leave its benchmark lending rate unchanged again at 3.50%-3.75% when the Federal Open Market Committee announces the decision Wednesday. But there will be plenty to pay attention to in the policy statement , the Summary of Economic Projections, and Chair Jerome Powell’s press conference. All of this comes in the face of the biggest oil shock since the pandemic. Treasury ETFs: ( TLT ), ( TLH ), ( IEF ), ( IEI ), ( SHY ), ( SGOV ), ( SCHO ), and ( BIL ). Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on the Markets The S&P 500 Is Becoming A Terrible Investment For Long-Term Investors Prudent Investors Should Be Game Planning For Stagflation This Week's Dichotomy/Bifocals Need...

2025 Net Loss of $5,025,000 ($1.51 loss per share) vs. Net Loss of $646,000 ($0.19 loss per share) in 2024 2025 EBITDA, As Adjusted, was a loss of $3,971,000 ($1.19 loss per share) vs. earnings of $159,000 ($0.05 per diluted share) in 2024 Fourth Quarter 2025 Net Loss of $708,000 ($0.21 loss per share) vs. Net Loss of $252,000 ($0.08 loss per share) in Prior Year Period Fourth Quarter 2025 EBITDA, As Adjusted, was a loss of $465,000 ($0.14 loss per share) vs. earnings of $383,000 ($0.11 per diluted share) in Prior Year Period Backlog at December 31, 2025 was approximately $12.2 million compared to approximately $12.0 million at December 31, 2024 HAUPPAUGE, N.Y., March 18, 2026 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTCID Basic Market:ORBT) today announced results for the fourth quarter and the year ended December 31, 2025. Fourth Quarter 2025 vs. Fourth Quarter 2024 Net sales were $6,726,000, as compared to $8,708,000. Gross margin was 28.6%, as compared to 34.6%. Net loss was $708,000 ($0.21 loss per share), as compared to net loss of $252,000 ($0.08 loss per share). Earnings before interest, taxes, depreciation and amortization, fair value adjustment on contingent liabilities (earn-out) and other non-current liability, contingent liability (legal matter) and stock-based compensation (EBITDA, as adjusted) was a loss of $465,000 ($0.14 loss per share), as compared to earnings of 383,000 ($0.11 per diluted share). Full Year 2025 vs. Full Year 2024 Net sales were $22,450,000, as compared to $29,898,000. Gross margin was 25.6%, as compared to 33.3%. Net loss was $5,025,000 ($1.51 loss per share), as compared to a net loss of $646,000 ($0.19 loss per share). Earnings before interest, taxes, depreciation and amortization, fair value adjustment on contingent liabilities (earn-out) and other non-current liability, contingent liability (legal matter) and stock-based compensation (EBITDA, as adjusted) was a loss of $3,971,000 ($1.19 loss per share), as compared to ea...

Iran Intel Chief Killed As Israel Grants IDF 'Free Hand' To Eliminate Leaders; Trump Muses Tehran Could Be 'Finished Off' Summary: Israel says Iran's intelligence chief Esmail Khatib was eliminated overnight as pace of top leadership killings accelerates. Israeli attack on Iran's major South Pars gas field could trigger retaliation on Saudi oil fields. President Trump issues posts musing whether US should 'finish off' Iran , though Tehran signals continuity & stability of govt. Iran FM says no change in nuclear posture : vows Tehran not pursuing an atomic bomb. * * * Iran Intel Chief Killed In 3rd High-Level Hit More decimation of Iranian top leadership, as Israel's defense minister Israel Katz has announced Iran's intelligence chief Esmail Khatib was eliminated in an overnight strike , which marks yet another alleged high-level hit as the tempo of targeted killings accelerates. "On this day, significant surprises are expected across all arenas that will escalate the war we are conducting against Iran and Hezbollah in Lebanon," Katz warned in a military briefing, according to Israeli media. If confirmed, the reported hit would mark the third top-tier Iranian figure eliminated in just 48 hours , following Israeli strikes that reportedly killed national security chief Ali Larijani, who was likely effectively running the war, and Basij commander Gholamreza Soleimani. Iran's intelligence chief Esmail Khatib Trump Posts: Finish Them President Donald Trump posts Wednesday: I wonder what would happen if we “finished off” what’s left of the Iranian Terror State, and let the Countries that use it, we don’t, be responsible for the so called “Straight?” That would get some of our non-responsive “Allies” in gear, and fast! Trump also said in a rapid follow-up that "We are rapidly putting them out of business!" Still, Iran is signaling continuity, not collapse, even as newspapers in America run celebratory headlines such as "Israel Is Hunting Down Iranian Regime Members in Their...

Whenever recession fears begin to circulate, investors naturally look for businesses that can hold up in a deteriorating economy. Retail, historically, hasn't been one of them. Consumer spending tends to weaken during downturns, and many retailers feel the pressure quickly. Yet Costco Wholesale (COST 0.56%) has long stood out as an exception. The warehouse giant has built a reputation for stability, loyal customers, and steady growth even when economic conditions become uncertain. So the question many investors ask is simple: Is Costco actually recession-proof? The short answer is that no business is completely immune to economic cycles. But Costco's business model does include several features that make it unusually resilient compared with most retailers. The membership model provides a stabilizing foundation The first reason Costco tends to perform well during economic slowdowns is its membership-based model. Customers pay an annual fee to shop in Costco warehouses, and that fee income has grown into a significant revenue stream. In its fiscal 2025, which ended Aug. 31, membership revenue surpassed $5 billion annually And because the cost of maintaining memberships is relatively low, much of that revenue flows directly to profit. Equally important is the consistency of that income. Renewal rates remain extremely high, typically around 90% globally and even higher in the United States and Canada. That stability creates a recurring revenue base that traditional retailers simply don't have. Even during economic downturns, product sales may fluctuate, but the membership base usually remains intact. That recurring income provides a cushion that helps smooth earnings across economic cycles. In many ways, Costco behaves more like a subscription-driven business than a traditional retailer. Expand NASDAQ : COST Costco Wholesale Today's Change ( -0.56 %) $ -5.62 Current Price $ 996.12 Key Data Points Market Cap $442B Day's Range $ 994.79 - $ 1008.40 52wk Range $ 844.06 - $ ...

文章提及标的 原油 -- 美原油 -- WTI原油站上96美元/桶，日内涨0.58%。

This article first appeared on GuruFocus. Nvidia (NVDA, Financials) is positioning a new artificial intelligence platform, OpenClaw, as a major evolution in how users interact with AI, according to Chief Executive Jensen Huang. Huang spoke at the company's GTC event and said that OpenClaw is a top open-source initiative that can go beyond regular chatbots. OpenClaw is different from systems that only answer queries since it lets AI agents function on their own, make decisions, and follow workflows with little help from users. Nvidia produced NemoClaw, a version for businesses that includes the company's software tools and adds features for security, privacy, and scalability to help people embrace it. The platform is meant to enable companies use AI agents in the real world. Huang claimed that the technology is moving toward "agentic" AI, which means that people may make their own agents that can do complicated tasks on their own. He talked about how these technologies may make businesses more productive as they get better. But the growth of autonomous AI also makes people worried about control, safety, and data security. Nvidia claimed that part of their plan is to implement protections that would allow for responsible large-scale use. The next thing that will drive growth is businesses using AI agent platforms and Nvidia's software ecosystem getting better.

In three of the cases police found videos taken of the women at the time. He is accused of filming them without consent, and the condition of the women at the time of the four alleged rapes has become a significant element of the trial.

盛龙股份（001257）公告，经发行人与保荐人(主承销商)协商确定，本次发行新股数量为2.15亿股，全部为公开发行新股，不安排老股转让。本次公开发行后公司总股本18.36亿股，本次公开发行股份数量占公司本次公开发行后总股本的比例约为11.71%。本次发行价格7.82元/股对应的发行人2024年扣除非经常性损益前后孰低的归母净利润的摊薄后静态市盈率为19.11倍，低于中证指数有限公司发布的同行业最近一个月平均静态市盈率39.85倍和同行业可比上市公司扣除非经常性损益前后孰低的归母净利润的平均静态市盈率27.4倍，但仍存在未来发行人股价下跌给投资者带来损失的风险。

聯博集團維持百濟神州(ONC.US)買入評級，維持目標價412美元 富途牛牛

This article first appeared on GuruFocus. Microsoft (NASDAQ:MSFT) may be inching toward a showdown with Amazon (NASDAQ:AMZN) and OpenAI, as a reported $50B deal starts to test the boundaries of its long-standing cloud partnership with the ChatGPT maker. At the center of this is OpenAI's new Frontier platform, which focuses on deploying AI agents inside enterprise environments. The issue is simple but high stakes. Microsoft's agreement with OpenAI is believed to require that its models run through Azure, but Amazon Web Services is now stepping in as part of this new arrangement. According to reports, Microsoft is not taking that lightly, with one source suggesting the company is prepared to pursue legal action if the contract is breached. For now, this has not turned into a full blown dispute. The companies are still in discussions, and OpenAI appears to believe its Amazon deal fits within the existing agreement. At the same time, Amazon has been steadily deepening its relationship with OpenAI through a multibillion dollar investment and broader cloud collaboration. What this really shows is how quickly the AI landscape is shifting. OpenAI is no longer tied as tightly to one cloud, and the biggest tech players are now competing more directly for that demand. For investors, that adds a new layer of uncertainty around one of AI's most important partnerships. The next step depends on whether this stays behind closed doors or spills into a legal fight.

In a bid to further boost its thriving energy storage business, Tesla TSLA is collaborating with South Korea’s LG Energy Solution to buy $4.3 billion worth of lithium iron phosphate (LFP) battery cells. These cells will be manufactured in the Lansing, MI, factory, starting in 2027. The facility was originally part of a joint venture between General Motors GM and LG Energy. However, as General Motors scaled back EV investments amid slower-than-expected adoption, it exited the project, allowing LG Energy to repurpose the plant for new customers like Tesla. The rationale behind Tesla’s deal with LG Energy is to secure a domestic battery supply and reduce reliance on China. Tesla’s energy storage business is increasingly exposed to tariffs on imported batteries. Without a local supply of LFP cells, the company would either have to absorb higher costs or pass them on to customers, both of which could hurt growth. The partnership ensures American-made LFP cells will power Tesla’s Megapack 3 systems. By locking in domestic supply, Tesla is directly addressing a key bottleneck — battery availability — while improving cost visibility. If executed well, this could make its energy segment an even more compelling part of its long-term growth story. But does this deal make Tesla stock worth buying right now? Let’s take a closer look. TSLA’s Energy Storage: The Real Growth Story Tesla’s energy generation and storage business is emerging as a major growth engine, driven by strong demand for Megapack and Powerwall systems. Over the past three years, energy storage deployments have grown at a remarkable 168% CAGR. This momentum comes as electricity demand surges, particularly from data centers and AI infrastructure. In 2025, Tesla reported record deployments of 46.7 GWh, up 49% year over year. Growth is expected to continue with the rollout of Megapack 3 and the new Megablock solution, both set to be produced at Tesla’s Houston Megafactory. To support this expansion, Tesla has been ...

In a bid to further boost its thriving energy storage business, Tesla TSLA is collaborating with South Korea’s LG Energy Solution to buy $4.3 billion worth of lithium iron phosphate (LFP) battery cells. These cells will be manufactured in the Lansing, MI, factory, starting in 2027. The facility was originally part of a joint venture between General Motors GM and LG Energy. However, as General Motors scaled back EV investments amid slower-than-expected adoption, it exited the project, allowing LG Energy to repurpose the plant for new customers like Tesla. The rationale behind Tesla’s deal with LG Energy is to secure a domestic battery supply and reduce reliance on China. Tesla’s energy storage business is increasingly exposed to tariffs on imported batteries. Without a local supply of LFP cells, the company would either have to absorb higher costs or pass them on to customers, both of which could hurt growth. The partnership ensures American-made LFP cells will power Tesla’s Megapack 3 systems. By locking in domestic supply, Tesla is directly addressing a key bottleneck — battery availability — while improving cost visibility. If executed well, this could make its energy segment an even more compelling part of its long-term growth story. But does this deal make Tesla stock worth buying right now? Let’s take a closer look. TSLA’s Energy Storage: The Real Growth Story Tesla’s energy generation and storage business is emerging as a major growth engine, driven by strong demand for Megapack and Powerwall systems. Over the past three years, energy storage deployments have grown at a remarkable 168% CAGR. This momentum comes as electricity demand surges, particularly from data centers and AI infrastructure. In 2025, Tesla reported record deployments of 46.7 GWh, up 49% year over year. Growth is expected to continue with the rollout of Megapack 3 and the new Megablock solution, both set to be produced at Tesla’s Houston Megafactory. To support this expansion, Tesla has been ...

Lululemon Athletica Inc （LULU） 报告营收稳步增长，国际市场表现强劲，尽管北美市场面临阻力且利润率承压。 总净营收： 第四季度增长1%，达到36亿美元。 可比销售额： 按固定汇率计算增长2%。 北美地区营收： 持平，可比销售额下降2%。 中国大陆营收： 增长28%，可比销售额增长26%。 世界其他地区营收： 增长12%，可比销售额增长5%。 门店渠道销售额： 下降1%；季度末全球门店总数为811家。 数字渠道营收： 增长9%，贡献营收19亿美元。 毛利润： 为20亿美元，占净营收的54.9%，低于2024财年第四季度的60.4%。 营业收入： 约为8.12亿美元，占净营收的22.3%。 净利润： 为5.87亿美元，稀释后每股收益5.01美元。 资本支出： 本季度约为1.83亿美元。 库存： 为17亿美元，按金额计算增长18%。 股票回购： 约回购140万股，平均价格188美元。 2026年营收指引： 预计在113.5亿美元至115亿美元之间。 2026年每股收益指引： 预计在12.10美元至12.30美元之间。 2026年资本支出指引： 约为7.25亿美元至7.45亿美元。 责任编辑：张俊 SF065

Oil rally puts energy fund inflows on pace for 12-year high Reuters

Rising fuel prices, stock market volatility and global instability are creating new financial pressures for households across the US. Recent conflict in the Middle East has pushed diesel prices above $5 a gallon and driven wider concerns about inflation and a potential economic slowdown. Higher transport and supply costs are also beginning to feed through into the price of everyday goods and services pushing up the cost of living. We want to hear how people in the US are responding to the current economic climate. Have you noticed changes to your finances or everyday costs in recent weeks? Have you seen price rises, changes to mortgage or loan rates or other increases in household bills? Are you cutting back on spending, saving more or rethinking financial decisions? Share your experience You can share your responses in the form below or by messaging us. Please share your story if you are 18 or over, anonymously if you wish. For more information please see our terms of service and privacy policy Tell us here Your responses, which can be anonymous, are secure as the form is encrypted and only the Guardian has access to your contributions. We will only use the data you provide us for the purpose of the feature and we will delete any personal data when we no longer require it for this purpose. For alternative ways to get in touch securely please see our tips guide Name Where do you live? Tell us a bit about yourself (e.g. age, background, what you do) Optional Have you noticed changes to your finances or everyday costs in recent weeks? Please include as much detail as possible. Tell us how you're handling this moment financially Optional Please include as much detail as possible. Do you have concerns? Optional Please include as much detail as possible. If you are happy to, please upload a photo of yourself here Optional Please note, the maximum file size is 5.7 MB . Choose file Can we publish your response? Yes, entirely Yes, but contact me first Yes, but please keep m...

Here are Wednesday's biggest calls on Wall Street: RBC downgrades Starbucks to sector perform from outperform RBC said the turnaround is taking longer than expected for Starbucks. "When we assumed coverage in November '24 at Outperform a key aspect of our thesis was relatively small/temporary investments were required to turn around the US business. That did not materialize given ongoing labor and additional future investments which makes it tougher to justify the Outperform, so we move to the sidelines." Read more. Wolfe upgrades NRG Energy to outperform from peer perform Wolfe said the stock is a data center beneficiary. "We see NRG well-placed as the additionality play with 6+ GWs of gas new build potential for data centers. The company is now better diversified and longer power generation, while still trading at an attractive double-digit FCF yield." Truist upgrades Block to buy from hold Truist says it sees upside potential for Block shares. "We now see upside potential to Street margin expectations following the ~40% reduction in force, the stock has meaningfully de-rated and we believe capital return could surprise to the upside as FCF generation improves." Read more. Citi upgrades Constellation Brands to buy from neutral Citi expects beer to show "topline acceleration" at the beverage company. "We upgrade STZ f rom Neutral to Buy as we forecast a beer topline acceleration in FQ4/FY'27 as scanner data has improved and comps remain easy throughout 2026 as STZ cycles beer category weakness, especially among Hispanic consumers." Deutsche Bank upgrades SL Green to buy from hold Deutsche Bank said it sees "strong execution on asset sales and refinancings this year to be a positive catalyst and calm investor nerves" for the real estate investment trust company. "With the market seeming to ignore strong on-the-ground leasing fundamentals given AI concerns, we think capital markets are a necessary catalyst. Fortunately for SLG, NYC is the deepest and most liquid offi...

Nvidia ( NVDA ) may be replacing Amphenol ( APH ) with Hong Kong-based Foxconn Interconnect Technology as the “major” supplier in its Kyber midplane connectors, investment firm GF Securities said. “We believe that the company is set to expand content per system in Kyber across midplane connectors, UQD, and power solutions,” analyst Alicia Xi wrote in a note, speaking of Foxconn Interconnect, also known as FIT. “Specifically, we expect FIT to replace its foreign competitors (i.e., APH) as the MAJOR supplier for Kyber midplane paladin connector.” Xi raised her price target on Foxconn Interconnect, which does not trade in the U.S., to HK$9 and reiterated her Buy rating on the stock. Amphenol did not immediately respond to a request for comment from Seeking Alpha. More on Amphenol, Nvidia Nvidia: Why This Stock Refuses To Go Up And What You Can Do About It Chart Of The Day: Why Wasn't $1 Trillion Enough? Wall Street Lunch: Nvidia Expands Agentic AI Push With OpenClaw Creator Nvidia gets China's approval to sell H200 chips: report Nvidia CEO Jensen Huang: OpenClaw is “definitely the next ChatGPT,” China stocks respond

今年整个AI圈最热闹的事件莫过于全民“养龙虾”——OpenClaw的走红，让大家终于看到了AGI落地的具象化可能。 然而，当业界为Agent“手脚”的日益灵活而欢呼时，一个更根本的问题却被暂时掩盖了——真正决定OpenClaw行动价值的“大脑”，也就是它背后的大模型底座，似乎正走在一条不可持续的道路上。 过去两年，大模型行业奉行的是典型的“暴力美学”，即参数越多代表智能越高，思维链越长代表推理越深。万亿参数模型接连登场，长思维链成为技术先进性的标配。但在这股狂热之下，一个尴尬的事实逐渐浮出水面—— 大量参数只是“吃算力”的摆设，超过70%的Token消耗发生在模型“已经答对、仍在反思”的无效阶段。 推理Token消耗分布示意 因此，当OpenClaw这样的执行端已经准备好进入工厂、仓库、办公室，我们才发现，驱动它的“大脑”要么昂贵到企业用不起，要么为了省钱而被迫“降智”。 这或许是2026年AI产业化最核心的悖论——手脚已经就位，大脑却还在“算力通胀”的泥潭中挣扎。 这一困局如何打破？就在前不久，YuanLab.ai团队开源了Yuan 3.0 Ultra万亿参数模型，以一套截然不同的、更务实的技术路线，也在试图解答当前行业的这一根本性问题：当模型规模的扩张已触及收益递减的临界点，大模型的下一场竞赛，究竟应该比什么？ Yuan3.0 Ultra在面向企业应用的表现 如果OpenClaw的大脑困于“昂贵”与“降智”的两难，那么，整个行业就必须重新审视那个曾被奉为圭臬的增长逻辑。 算力通胀时代，市场渴望一场“价值回归” 过去两年，行业经历了一场深刻的认知撕裂。 撕裂的一边是技术供给侧的狂欢。 万亿参数模型接连登场，推理模型追逐越来越长的思维链，仿佛“想得越多”就等于“想得越对”。在国际AI顶会上，论文的核心卖点往往是“我们的模型又大了多少亿”“我们的思维链又长了多少步”。 撕裂的另一边是企业需求侧的清醒。 当技术营销的喧嚣褪去，企业客户在采购时开始用最朴素也最残酷的ROI逻辑发问：每一次API调用支付的Token费用，究竟有多少转化为真正的业务价值？ 事实上，研究显示，在复杂推理任务中，模型超过70%的Token消耗发生在“已经答对”后的自我验证阶段。这意味着，企业每为模型智能支付10元钱，有7元是在为它的“过度思考”买单。 与此同时，更隐蔽的浪费还藏在模型结构本身。Mo...

科伦药业（002422）公告，公司控股子公司科伦博泰靶向人滋养细胞表面抗原2(TROP2)抗体偶联药物(ADC)芦康沙妥珠单抗(sac-TMT)关键临床研究(OptiTROP-Lung03)的总生存期(OS)最终分析结果将于2026年3月25日至28日在丹麦哥本哈根举行的2026年欧洲肺癌大会(ELCC)公布。该研究旨在评估芦康沙妥珠单抗(sac-TMT)单一疗法对比多西他赛在既往接受过EGFR-TKI和含铂化疗治疗的局部晚期或转移性EGFR突变非小细胞肺癌(NSCLC)患者中的有效性和安全性。此前在2025年ASCO年会上公布的结果显示，芦康沙妥珠单抗(sac-TMT)在无进展生存期(PFS)和OS方面具有显著统计学意义和临床意义的改善。

2025年图灵奖授予美国IBM院士贝内特（Charles H. Bennett）和加拿大蒙特利尔大学计算机科学与运筹学系教授布拉萨德（Gilles Brassard）。二人被公认为量子信息科学的奠基人 【财新网】 有“计算机界诺贝尔奖”之称的图灵奖，揭晓了其2025年度得主。当地时间3月18日，国际计算机协会（ACM）宣布，2025年图灵奖授予美国IBM院士贝内特（Charles H. Bennett）和加拿大蒙特利尔大学计算机科学与运筹学系教授布拉萨德（Gilles Brassard），以表彰他们在奠定量子信息科学基础、变革安全通信与计算领域方面所发挥的关键作用。 值得注意的是，二人被公认为量子信息科学的奠基人，这一学科横跨物理学与计算机科学，它不再将量子力学现象仅视为物质属性，而是将其作为处理与传输信息的资源。

Wilmington Savings Fund Society FSB trimmed its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 17.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,597 shares of the wireless technology company's stock after selling 9,645 shares during the period. Wilmington Savings Fund Society FSB's holdings in Qualcomm were worth $7,752,000 as of its most recent filing with the Securities and Exchange Commission. Get Qualcomm alerts: Sign Up Several other hedge funds have also recently bought and sold shares of QCOM. Vanguard Group Inc. raised its stake in shares of Qualcomm by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 114,659,269 shares of the wireless technology company's stock valued at $18,260,635,000 after acquiring an additional 290,799 shares in the last quarter. State Street Corp lifted its holdings in Qualcomm by 0.8% in the 2nd quarter. State Street Corp now owns 53,667,047 shares of the wireless technology company's stock worth $8,547,014,000 after purchasing an additional 420,352 shares during the last quarter. Norges Bank bought a new stake in Qualcomm during the second quarter worth approximately $2,713,603,000. Amundi grew its holdings in Qualcomm by 9.9% during the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company's stock valued at $2,136,486,000 after purchasing an additional 1,138,541 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Qualcomm by 141.8% during the third quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock valued at $2,069,059,000 after purchasing an additional 7,292,783 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors. Insider Activity In related news, EVP Akash J. Palkhiwala sold 3,333 shares of Qualcomm stock in a transaction dated F...

(RTTNews) - Chipotle Mexican Grill (CMG-B) on Wednesday said it will launch a new Cilantro Lime Sauce across its U.S. and Canada restaurants starting March 19. The company said the sauce, made fresh daily, features cilantro, lime, Mexican spices, sour cream and roasted jalapeños, delivering a creamy texture with a citrus-forward taste. It contains no artificial colors, flavors or preservatives. Chipotle said the Cilantro Lime Sauce has been its highest-performing sauce in test markets to date, reflecting strong customer demand for customizable, flavor-focused options. The product was developed by culinary analyst Danny Boyzo, who began her career as a crew member at the company in 2019. To promote the launch, Chipotle said its Rewards members can receive a free side or topping of the sauce with the purchase of an entrée on March 19 by using the code "SOFRESH." The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article first appeared on GuruFocus. AMD (NASDAQ:AMD) is quietly strengthening its AI strategy, expanding its partnership with Samsung (SSNLF)in a move that goes beyond just memory and starts to hint at something bigger. At the core of the deal is next generation memory. Samsung is expected to supply HBM4 for AMD's upcoming Instinct MI455X AI chips, while also working on DDR5 solutions for its 6th Gen EPYC CPUs. This builds on an already close relationship, where Samsung provides HBM3E for AMD's current accelerators. The goal here is pretty straightforward. Tie together GPUs, CPUs, and high performance memory into one cohesive AI system, including rack scale setups like AMD's Helios platform. But the more interesting part is what sits underneath. The two companies are also exploring a foundry partnership, which could eventually see Samsung manufacturing AMD's future chips. That would mark a deeper shift, especially as AMD looks to compete more aggressively in the AI infrastructure race. Stepping back, this is really about control. Memory is becoming just as important as compute in AI, and AMD seems to be locking that piece in early. this strengthens AMD's position in a space where every layer of the stack matters. Now the focus turns to how quickly these next generation platforms actually roll out into 2026.

人工智能正开始以一些可能不那么明显的方式，使投资策略变得复杂化。橡树资本管理联合创始人霍华德·马克斯表示，推动AI重要性的同一股力量也在增加不确定性，暗示仅仅依赖对接下来会发生什么的预测可能已不再足够。马克斯周二在纽约举行的资本市场行业会议上表示，随着结果变得更难预料，投资领域的传统决策框架可能面临压力。 这种不确定性正开始影响投资者对资本配置去向的思考。马克斯指出，人们对透明度可能有限的私人市场的担忧日益加剧，同时他也将其与过去的周期相提并论，当时新理念在其风险被充分理解之前就吸引了关注。他提到，创新往往基于前景吸引资本，而其潜在弊端常常未经检验，这一模式在过去与新兴技术和金融创新相关的繁荣与萧条周期中反复出现。 与此同时，马克斯表示，AI的广泛影响可能仍被低估，尤其是在劳动力市场。他提到Block决定裁员约4000人（约占其员工总数的一半），认为这可能预示着更广泛的颠覆。在投资定位方面，马克斯表示，承担根本性商业模式风险的投资者，通过持有股权而非固定收益敞口，可能会获得更好的补偿。尽管AI尚未实质性地改变其公司的商业模式，但他提到自己已经利用该技术协助起草了给客户的最新备忘录。 责任编辑：张俊 SF065

The rising average age has been driven by a collapse in the portion of first-time buyers under 25 to just 6%, having made up a quarter of those buying their first homes in the 1990s.