Emerging-market stocks swung between gains and losses ahead of the weekend, as efforts by the US and Israel to allay worries over the Iran war brought oil prices down from near-four-year highs. MSCI’s emerging markets index fluctuated on Friday, after dropping 2.7% the previous day when a fresh jump in crude prices roiled markets. A similar gauge for developing-world currencies rose 0.2%. Both ind...
Emerging-market stocks swung between gains and losses ahead of the weekend, as efforts by the US and Israel to allay worries over the Iran war brought oil prices down from near-four-year highs. MSCI’s emerging markets index fluctuated on Friday, after dropping 2.7% the previous day when a fresh jump in crude prices roiled markets. A similar gauge for developing-world currencies rose 0.2%. Both indexes are on track for a weekly gain. “Comments by Israel and US officials have helped instill a semblance of calm to markets today helping EM assets recover somewhat,” said Mitul Kotecha , head of Asian FX and EM macro strategy at Barclays Bank Plc. “It’s very difficult to extrapolate into the days ahead — news flow remains volatile and we never know what weekend developments will take place.” Oil eased from its highest close since July 2022, as US and Israel sought to reassure investors rattled by strikes on major Persian Gulf energy facilities. President Donald Trump told reporters he’s “not putting troops anywhere” when asked about deploying US ground forces, while Israeli Prime Minister Benjamin Netanyahu said Israel would refrain from more attacks on Iranian energy facilities. That marks a reduction in tensions after an Iranian missile strike on Qatar’s Ras Laffan complex on Thursday damaged the world’s largest liquefied natural gas plant, worsening the outlook for energy prices. Reduced expectations for US rate cuts have also weighed on sentiment, with bond traders no longer pricing in Fed easing this year. Still, factors such as improving government finances and resilient growth expectations, are underpinning emerging-market economies, said Vincent Mortier , Group Chief Investment Officer at Amundi. “Investors are still largely underweight emerging market equities. That will gradually change,” he said, pointing out that EM equities as a share of global assets under management are currently around 5%, lower than long-term averages of around 7% to 8%. Analysts at HSBC ...
上个时代的开发工具，是被非常仔细地一步步打磨出来的：行为稳定，交互克制，出了问题大多也在预期之内。可到了今天，Claude Code、Codex 这些软件产品，把“用 AI 写自己”当成默认路线。虽然 AI 的确让写代码更快了，但它并没有自动解决“怎样把一个复杂的软件长期维护好”这件事。 Claude Code 是一个很典型的例子。Anthropic 这套工具几乎是从零开始做的，但团队又长期坚持一...
上个时代的开发工具，是被非常仔细地一步步打磨出来的：行为稳定，交互克制，出了问题大多也在预期之内。可到了今天，Claude Code、Codex 这些软件产品，把“用 AI 写自己”当成默认路线。虽然 AI 的确让写代码更快了，但它并没有自动解决“怎样把一个复杂的软件长期维护好”这件事。 Claude Code 是一个很典型的例子。Anthropic 这套工具几乎是从零开始做的，但团队又长期坚持一种非常激进的内部方式：他们强调“Claude Code 的 100% 代码都要由 Claude Code 自己写”，并且内部工程师和研究人员的各项任务，从大型代码重构、squash commit，到各种琐碎的编码工作，都依赖Claude Code。 问题在于，当底层模型本身就是非确定性的，而承载这些能力的产品代码又是在这样的开发方式下快速堆叠出来的，系统很容易陷入一种恶性循环。这一两年里，Claude Code 一直在快速扩展能力，交互逻辑越来越复杂，于是这个产品本身变得越来越不稳定：各种崩溃、各种诡异报错，bug 越来越多，速度越来越慢。 事情甚至发展到一种颇为荒谬的状态——与其回过头去系统性修复这些性能问题，不如直接收购核心依赖 Bun，把希望寄托在底层 runtime 团队身上。换句话说，就是买下一整支 runtime 团队，只为了尽量别让自家的 CLI 工具动不动就吃掉 2GB 内存。 Cursor 的处境则是另一种复杂。它一开始面对的，就是一个极其庞大、极其复杂，而且并非自己从零塑造出来的代码底座——他们直接 fork 了 VS Code。这个起点决定了，它从第一天起就在打一场高难度战役：你不是在空白纸面上做产品，而是在一个超大工程体系上做增量改造；你不仅要持续改出自己的差异化能力，还要长期维护这个分叉版本，并尽可能跟上游同步必要更新。只要做过大型工程的人都知道，这种事本来就极其痛苦，而且随着时间推移，分叉只会越来越深，维护成本只会越来越高。 如果把这些现象放在一起看，一个越来越清晰的趋势是：AI 编程工具，很可能会经历一轮“大规模重写潮”。 因为其代码库本身在早期高速迭代中已经被带进了一种越来越难逆转的状态。继续往上叠功能，只会让系统更加脆弱；真正的解法，往往只能是承认旧底盘已经失控，然后从零再做一套新的。 但这并不意味着所有团队都会走到这一步。 OpenCod...
Tesla is looking to buy equipment worth $2.9 billion for manufacturing solar panels and cells from Chinese suppliers including Suzhou Maxwell Technologies, two people familiar with the matter said, as CEO Elon Musk aims to add 100 gigawatts of solar capacity in the United States. Musk said in January that solar power could meet all of the electricity needs of the United States - including the ever...
Tesla is looking to buy equipment worth $2.9 billion for manufacturing solar panels and cells from Chinese suppliers including Suzhou Maxwell Technologies, two people familiar with the matter said, as CEO Elon Musk aims to add 100 gigawatts of solar capacity in the United States. Musk said in January that solar power could meet all of the electricity needs of the United States - including the ever-increasing demand from a growing number of data centres. Job postings on the Tesla website said it aims to deploy 100 GW of "solar manufacturing from raw materials on American soil before the end of 2028". Suzhou Maxwell Technologies, the world's biggest producer of screen-printing equipment used to make solar cells, is among the leading candidates to supply machinery for the project and has been seeking export approval from China's commerce ministry, according to the two people and a third person. The sources declined to be named because the information is not public. Other potential suppliers include Shenzhen SC New Energy Technology and Laplace Renewable Energy Technology, the first two people said. Some of the estimated 20 billion yuan ($2.9 billion) worth of equipment, including screen-printing production lines, will require export approval from Chinese regulators, according to the people. It wasn't immediately clear how much of the equipment would require approval or how long it would take. The Chinese companies were told to deliver the equipment before this autumn, the three people said, with two saying it would be shipped to Texas. Musk plans to build the solar capacity mainly for use by Tesla, although some will be used to power SpaceX satellites, the people said. The potential order highlights one issue for the United States as it looks to reduce its dependence on China reviving US manufacturing still requires some degree of trade with the world's second-largest economy. Chinese media reported last month that Tesla has visited several solar companies in China. Th...