On Monday, technology stocks were relatively strong. Tesla rose 1%, AMD surged nearly 6%, Nvidia rose 1.64%, Netflix rose 2.62%, and FuboTV skyrocketed over 26%.

US Stock Options | Amazon, AMD Call Options Active, FuboTV Options Trading Volume Increased Fivefold

有消息称特斯拉换代 Model 3 将于 6 月 1 日将在上海量产，数张新 Model 3 的照片也同时流出。但特斯拉中国方面今日向记者否认了该消息的真实性。

特斯拉否认换代 Model3 即将国产

盘面上，科技股全线下挫，券商、煤炭、建材水泥、港口运输等板块逆市上涨，半导体、CXO、军工、博彩、黄金等板块跌幅居前。

恒指午后急跌，再度跌穿两万点，中芯国际重挫 6% 领跌蓝筹股

芯片概念港股午后跌幅扩大。截至发稿，中芯国际跌近 7%，两周来跌幅已近 20%；美图公司跌 5%；科通芯城跌近 5%；上海复旦跌 3%；华虹半导体跌近 2%。

芯片概念港股走弱 中芯国际两周跌近 20%

未来 “谷歌一下” 的说法会变成 “GPT 一下” 吗？

ChatGPT 访问量再创新高：百度的 60%，谷歌的 2%

研究人员发现，在 ChatGPT 发布后的几周内，对生成式 AI 敞口较高的公司每天的超额回报比敞口较低的公司高出 0.4%。这意味着年化回报率超过了 100%。

生成式 AI 对上市公司们意味着什么？

东北证券表示，向量数据库一个很重要的功能是拓展大模型的边界，能够使得大模型 LLM 拥有 “长期记忆”，能够协助解决目前企业界最担忧的大模型泄露隐私的问题，同时多模态搜索也是向量数据库的拿手好戏。

AI 时代的 “Killer App”，一文了解向量数据库是什么

Alibaba's Q4 2023 financial report will be released next Thursday. Analysts predict that the quarterly revenue will exceed RMB 200 billion, and the Non-GAAP net profit will increase by 35.4% YoY. Alibaba is likely to continue reducing costs and increasing efficiency, and the &quot;1+6+N&quot; model may shorten the decision-making chain, which is expected to promote the company's long-term performance improvement.

Prospect | Alibaba's core e-commerce business is expected to rebound! But the market is most concerned about: Tongyi Qianwen, "1+6+N"!

快手电商在引力大会上宣布升级 “川流计划”

快手电商全年拿出至少 600 亿流量激励商家达人协作

中芯国际 A 股跳水跌超 9%，成交超 42 亿元；H 股跌超 6%。

港股中的 “中特估” 今年取得了不错的超额收益。在港股的 “中特估” 101 家企业中，今年以来其上涨的中位数达到了 11.4%，显著好过恒指 0.33% 的年度表现。它们的共同特点是： 1、央企、国企背景； 2、估值低，股息率较高，101 家公司的股息率中位数为 4.9%；3、Q1 财报略好于 A 股整体，收入增速中位数为 5.5%，利润增速中位数为 9.5%。（相比 A 股整体，收入增速为 2.2%，利润增速 3.5%）。中特估在经济扩张早期的有着明显的比较优势，主要是它们的估值低，股息高，业绩稳定性强，可以直接对标高息债券资产，故而该类投资方向可以被海外投资者所认同。在经济逐渐恢复，即市场进入到扩张期中段时，它们的成长性将不再有优势，届时，市场将逐步回到投资者熟悉的成长 + 消费赛道。判断扩张期中段是否到来，可以参考几个信号： 1、美股 “新周期信鸽” 发出的信号； 2、美联储对于降息的表述更加清晰； 3、观察中国 PPI 的转折、转正，即中下游的比较优势再度形成。（国信证券）上周，恒生中国央企指数（涨 1.74%）、恒生香港中资企业指数（涨 1.46%）、恒生中国企业指数（涨 1.43%）领涨，恒生大型股（涨 0.82%）、恒生指数（涨 0.78%）、恒生综合指数（涨 0.78%）、恒生中型股（涨 0.74%）、恒生小型股（涨 0.14%）、恒生科技（跌 0.15%）。（兴业证券）

港股 “中特估” 进行时

按美元计价，今年 4 月份，中国出口 2954.2 亿美元，同比增长 8.5%；进口 2052.1 亿美元，同比下降 7.9%；贸易顺差 902.1 亿美元，同比扩大 82.3%。

中国 4 月出口同比增长 8.5%，进口同比下降 7.9%

中国 4 月进口同比 (按美元计) -7.9%，预期 -0.2%，前值 -1.4%。

中国 4 月以美元计算出口年率 8.5%，预期 8.00%，前值 14.80%。

抖音 5 月 9 日发布关于人工智能生成内容的平台规范暨行业倡议。其中提到，创作者、主播、用户、商家、广告主等平台生态参与者，在抖音应用生成式人工智能技术时，发布者应对人工智能生成内容进行显著标识，帮助其他用户区分虚拟与现实，特别是易混淆场景；发布者需对人工智能生成内容产生的相应后果负责，无论内容是如何生成的；虚拟人需在平台进行注册，虚拟人技术使用者需实名认证；禁止利用生成式人工智能技术创作、发布侵权内容，包括但不限于肖像权、知识产权等。一经发现，平台将严格处罚。

抖音发布平台规范，发布者应对人工智能生成内容作显著标识

领英称，该公司将逐步淘汰其中国版求职 APP 领英职场，从而将导致 716 名员工的岗位被裁撤。

领英将逐步淘汰其中国 APP 领英职场 裁员 716 人

据韩联社报道，韩日 ICT 部门启动了到年底前成立 ICT 部长级定期协商机制的相关准备工作。为此，韩国科学技术信息通信部第二次官朴允圭将于月底访日，与日方对口官员——总务副大臣举行工作会议。朴允圭表示，具体合作议题尚未敲定，但预计双方将就韩日首脑会谈上提及的人工智能和软件等领域合作进行讨论。

韩日拟年内建立 ICT 部长级协商机制 讨论人工智能和软件等领域合作

路透 5 月 8 日 - 华尔街日报周一报导，纽约时报将在三年内从 Alphabet 旗下的谷歌获得约 1 亿美元，这是一项广泛交易的一部分，该交易允许谷歌在一些平台上刊登纽约时报的内容。

谷歌将在三年内向纽约时报支付约 1 亿美元以使用后者内容 -- 华尔街日报

巴菲特在周六表示，在过去六个月左右的时间里，美国经济的 “不可思议的时期” 已经结束。

事关美国经济走向！巴菲特在伯克希尔大会上讲的最重要的一句话

S&amp;P 500 and NASDAQ Composite Index have risen for two consecutive days, with tech stocks rising and Chinese new energy vehicle stocks collectively closing higher. Google OpenAI updates include using Bard for programming and math. Snapchat offers free access to OpenAI chatbots. Tesla will hold a groundbreaking ceremony for its lithium refining plant in Texas. Amazon is preparing to open up its film and television resources to external platforms. OpenOpenAI has completed a $10.3 billion financing round, with a post-investment valuation of $27 billion to $29 billion, more than double its value at the beginning of the year. A conservative group's proposal to remove Buffett as chairman of Berkshire Hathaway has been rejected.

Longbridge Breakfast | JPMorgan says rate cut means stock market crash, Alphabet-C to release AI update at I/O conference

OpenAI 发布了最新开源项目 Shap-E，通过文本就能生成 3D 模型。

GPT 一句话生成 3D 模型？OpenAI 又 “放大招” 还直接开源！

OpenAI 首席执行官 Sam Altman 认为美国债务与国内生产总值比例的图表非常恐怖。他预测，这个问题将变得更加严重并演变成一个长期酝酿的危机。他认为科技驱动的重大经济增长是解决这个问题的唯一可行途径。然而，AI 真的可以解决这个问题吗？还是这只是 OpenAI 为未来 1000 亿美元融资做广告？

只有 AI 才能救美国？恐怕来不及了

(Add Musk, governor comments, background on Tesla’s lithium production)

Elon Musk and Tesla break ground on massive Texas lithium refinery

周二亚太盘初，纳斯达克 100 股指期货下跌 0.16%，在美国三大股指中表现最差。科技股中，高通目前跌超 0.6%，Meta、微软、AMD、特斯拉、亚马逊、苹果、奈飞、英特尔至多跌 0.37%，谷歌 A 则涨 0.40%，C3.ai 涨 1.6%，发布了业绩报告的 Palantir 维持超过 20.4% 的涨幅。

纳指期货周二盘初跌超 0.1%，高通、Meta、微软等跌幅突出，Palantir 则涨超 20%

马斯克：特斯拉的目标是明年完成锂精炼厂的建设，并有望在一年后投产。

谷歌母公司 Alphabet 计划宣布一系列生成式人工智能更新，包括推出通用大型语言模型。根据媒体看到的有关谷歌 I/O 的内部文件，该公司将推出其最新、最先进的大型语言模型——PaLM 2。PaLM 2 包含 100 多种语言，并一直在内部代号 “统一语言模型” 下运行。它还进行了广泛的编码和数学测试以及创意写作。

Alphabet 将在谷歌 I/O 大会上发布人工智能更新 展示创意写作和写代码能力

高盛认为，对美国银行业的担忧和债务上限问题都可能加剧市场的降息预期定价，但在强劲的宏观背景下，对美联储降息的预期 “可能过头”。

巴克莱之后高盛也警告客户：别赌美联储今年降息了！

美国股市在关注债务上限谈判的僵局以及等待公布的消费者通胀 CPI 和生产者价格指数 PPI 的影响下开始起伏不定。地区银行股指数盘初转跌，但费城证交所 KBW 银行指数仍维持 0.3% 涨幅。摩根大通、美国银行、富国银行和花旗集团等 “美国四大行” 则在开盘一小时维持涨幅，其中富国银行涨超1% 领跑。主要行业 ETF 涨跌不一，能源业 ETF 涨幅1.5%，全球航空业 ETF 涨幅1.4%。美元指数微跌，现货黄金略微上涨升破2020美元整数位。

美股盘初齐跌，道指跌近百点，地区银行股指数迅速转跌

“滞涨” 或许成了美国经济最有可能的剧本。

鲍威尔认为美国经济可以避免衰退 他的胜算大吗？

今年以来，游戏公司纷纷投资 AI 公司、成立 AI lab、自建 AI 模型。无论是 AIGC 对游戏制作的降本增效，还是其冲破当前游戏工业化极限的可能性，都让游戏企业成为了新一轮 AI 浪潮最为积极的 “拥护者”。

AI 成为了米哈游们的 “必选项”

Tianfeng Securities stated that considering the AI empowerment of Microsoft products, they continue to have a positive outlook on the long-term performance of Microsoft's technology stack and strategy in the enterprise and personal consumer markets, and maintain a &quot;buy&quot; rating.

Microsoft strengthens AI empowerment, with unlimited potential for future performance.

Hang Seng TECH Index has returned to its historical low, with a PE-TTM of about 35 times, approaching the historical low of 2021.

Valuation returns to historical lows! How to bet on the Hang Seng TECH Index?

Tesla rose more than 2%, BILIBILI-W fell nearly 1%, PDD rose 0.6%, NIO-SW rose nearly 2%, LI AUTO-W rose 3%, XPENG-W rose more than 2%. BioNTech SE rose 6%, BEKE-W fell nearly 8%, Douyu fell 13%.

Pre-market trading of US stocks | Buffett continues to reduce holdings of BYD H shares, working group from the Ministry of Cyberspace enters Douyu platform.

According to a recent report by Daiwa Securities, TENCENT's demand for video advertising has surged, ranking second only to ByteDance and surpassing KUAISHOU-W! It is expected that Tencent's short video platform, Video Number, will become a key driver of profitability in the next 2-3 years, bringing in 50 billion yuan in advertising revenue by 2025, with a compound annual growth rate of 20% over the next three years.

Big moves | Apple's target price gets raised! Why is Wall Street optimistic about TENCENT, MEITUAN-W, and KUAISHOU-W?

On Wednesday (May 10), Li Auto released its Q1 financial report. Bloomberg's consensus expected Q1 revenue to be RMB 18.88 billion, up 97.5% YoY; gross margin was 20.5%, down 2.2pct YoY, up 0.3pct QoQ, and non-GAAP net profit attributable to shareholders was expected to be RMB 710 million.

Preview of Financial Report | LI AUTO-W's Gross Margin Expected to Remain Above 20%, Optimistic about L7's Continued Growth.

In the past three weeks, stock buybacks have surged in the US stock market! The fundamentals of technology leaders are strong and they are considered safe assets by the market. Can Cathie Wood, the female stock goddess who loves FANG the most, make a comeback?

美股五张图 | Wall Street bullish on tech stocks, the biggest driver of the bull market is back!

In the first quarter, JD.com is still in a weak recovery period after the post-epidemic consumption sentiment. It is expected that the short-term revenue growth of JD.com will be under pressure, and the profit margin is expected to remain stable or even increase year-on-year.

Financial Report Preview | JD.com faces short-term performance pressure, but profits are expected to remain stable.

Last Friday, tech stocks surged, leading the US stock market, especially the tech giants. Tesla rose 5.5%, Apple rose 4.69%, Nvidia rose over 4%, AMD rose nearly 4%, Coinbase surged over 18%, Lyft fell over 19%, and PACW surged over 80%.

US Stock Options | Apple and Lyft options trading volume tripled, Amazon, Meta Platforms, and Nvidia call options trading active.

假设 VIX 在 9 月没有超过 70，该交易员将损失 500 万美元，但当 VIX 飙升至 90 时，利润高达 4 亿美元。

预期市场崩盘？神秘交易员 500 万美元押注恐慌指数飙至 70 以上

Alphabet-C has been deeply involved in AI for many years, while Microsoft has a rich portfolio of commercial office products, which is a better practice for generative AI to empower productivity. Amazon's increased investment in AI in the advertising business has shown initial results, and Meta also has its own strong players. Let's see if they can focus well.

Review | Behind the Super-Expected Performance, Where Will FAMG's AI Long March Go?

Without Alibaba to cover the losses of the business, Jiang Fan must step up and face the market's test, and take responsibility for the results. Alibaba will be an investor in the future, and in the short term, Alibaba will definitely increase its investment in international business, but in the medium and long term, it will have profit requirements.

Alibaba's "Overseas Battle": Pressure, Confusion, Can't Afford to Lose

英国汽车制造商捷豹路虎选择拆分路虎品牌，将原先路虎旗下的“揽胜”、“卫士”、“发现”的家族系列，独立为三个品牌；捷豹则仍保持为一个品牌，承担着转型重任，未来将升级为纯电动豪华车品牌。CEO表示，捷豹路虎集团将致力于打造电动化的新现代豪华主义未来，并投资150亿英镑加速重塑未来全球战略的推进。捷豹品牌将于2025年推出首款四门GT电动车型，并在2030年前成为全面电动化的豪华车企。

路虎消失于江湖

Institutional forecasts suggest that the first quarter reports of internet companies will be generally good, with current adjustments being relatively sufficient, and there is hope for further recovery in the future; the automotive and electronics industries are expected to have greater opportunities in the future, but short-term demand is not strong enough, and it is expected that the end of the second quarter and the beginning of the third quarter will be the time window for layout of the industry chain.

Car, Internet, and Zhongtegu! May Hong Kong stocks, four major themes!

截至发稿，知乎-W 涨 11.17%、小米集团-W 涨 1.25%、阅文集团涨 0.70%、美图公司涨 0.47%。

港股 ChatGPT 概念股开盘延续涨势 知乎涨超 11%

港股开盘，恒指小幅高开 0.39%，恒生科技指数涨 0.34%。阿里健康涨超 3%，预计 Q1 利润净不少于 4.5 亿元，同比扭亏为盈。

耶伦认为，美国债务上限最早可能在 6 月 1 日被突破，这个日期早于华尔街经济学家的预期。她呼吁美国国会采取迅速果断行动。

美国财长耶伦警告：6 月 1 日现金耗尽，如不提高债务上限将引发 “金融和经济崩溃”

市场预期显示，4 月份的美国 CPI 和 PPI 数据都不会让人放心，预计两者都将显示整体通胀加速。

美联储是否会停止加息？市场紧盯本周通胀数据

US Treasury Secretary Yellen reiterated that the US may default as early as June 1st, which could cause financial market turmoil. The market is starting to bet on a rate cut by the Fed in July, and the market's attitude towards risky assets such as stocks is extremely pessimistic. Regarding the gap between the current domestic large-scale model development and OpenAI, Zhou Hongyi said that the gap is at least two years. Former Yahoo CEO Marissa Mayer said her biggest regret was not being able to split Alibaba's shares in a tax-free manner.

Longbridge Breakfast | Market bets on Fed rate cut in July, Amazon smart speakers to add "ChatGPT-like" feature

沃伦·巴菲特周六表示，苹果是伯克希尔·哈撒韦公司投资组合中最好的公司。