The U.S. stock market has started daylight saving time. NVIDIA's sharp rise has raised concerns for the "Stock Goddess". Morgan Stanley: AI infrastructure is just beginning, NVIDIA is not Cisco. ByteDance responds to rumors of former Blizzard CEO negotiating to acquire ByteDance: it's not true. BIDU-SW's Robin Li says that in terms of Chinese language processing, Wenxin's Large Model 4.0 has surpassed GPT-4. A property under Hongkong Land was sold out in a single day. Bitcoin briefly surpassed $70,000, with options betting now looking towards $100,000. Bill Ackman is considering buying Bitcoin.

Breakfast | SPDR S&P 500 issues overbought warning, intense debate on NVIDIA stock outlook.

Novo Nordisk AS's self-developed weight-loss drug Wegovy is expected to obtain market approval in China this year. The company's stock price rose by 8.95% on Friday, reaching a market value of $606.6 billion, surpassing Tesla. In addition, Novo Nordisk AS's weight-loss drugs Ozempic and Rybelsus have already been approved for the Chinese market. The company also released the clinical trial results of the new drug amycretin, showing a more significant weight loss effect. Novo Nordisk AS is actively developing other weight-loss drugs and plans to enter the clinical stage within the next year.

Hong Kong Stock Concept Tracking | "Weight-loss Miracle Drug" to be Listed Soon! The domestic GLP-1 industry is about to enter a harvest period (with concept stocks attached).

比特币减半事件有望在 2024 年将比特币价格推高至 11.5 万美元以上。历史数据显示，比特币减半后的一年内平均飙升了 400%。根据比特币在 4 月减半时是否达到 6.9 万美元，预测未来将达到 11.5 万美元价格。减半会减少新比特币供应量，如果需求保持不变或上升，可能会推高比特币价格。然而，并非所有人都看好减半催化剂。

CoinLedger：比特币减半在即，有望助推价格站上 11.5 万美元高点

根据给定的新闻信息，可以将其归类为金融相关信息。根据中金公司研报，预计二季度金融流动性的紧缩可能给美股带来 8% 左右的回撤压力，纳斯达克面临更大的压力。该报告认为，目前美股的点位已经偏高，加上可能出现的流动性压力，短期债券和长期股票的配置策略较为合适。同时，对于美债来说，风险偏好回落、美债发行规模下降和降息预期反而利好。

中金：测算二季度金融流动性紧缩或造成美股 8% 左右的回撤压力，纳斯达克压力更大

围绕美股 “七巨头” 的泡沫可能已经减弱！为什么？特斯拉、苹果、谷歌年内大跌意味着什么？还有哪些现象可以消除投资者对泡沫的担忧？

理解市场 | 美股真的有泡沫风险吗？四张图看懂！

极氪新款 001 上市十天突破 1.5 万台大定单，预计本月底将破三万。该车价格从 26.9 万元起，配备 800V 平台、快充电池、8295 智舱芯片、激光雷达，并优惠 3.1 万-6 万元。订单量证明了极氪的品牌与产品力依旧强劲，短期内需求困扰被解决。极氪希望新 001 能助力其在竞争激烈的市场中突围，同时也将专注于 SUV 与轿车领域的销量释放，为即将上市的紧凑型 MPV 打前锋。极氪 CEO 定下了 24 万台的 KPI，并计划 IPO 上市。极氪的目标是在 2024 年展现出更大的优势。

极氪 “王牌军” 杀回来了

趁着人工智能繁荣，英伟达等成为赢家，带动美股基准股指不断创新高。在美国股市的中心，一个不那么引人注目的现象正在展开：投资者资金大规模下沉到那些业绩暗示股市将归于持久冷静的投资策略。Global X ETFs 汇编数据显示，卖出期权类 ETF 规模在最近两年增长三倍，刷新历史最高至 640 亿美元。

在 AI 繁荣推高英伟达的同时，数十亿美元资金涌向沽空波动性的 ETF

Riding on the AI trend, strengthen the "moat" of the strong further widening.

Selling Samsung Electronics and buying Micron, is the market considering Micron the winner in HBM?

比特币再次站上 70000 美元/枚，日内涨 2.09%。

UBS pointed out that the possibility of canceling negative interest rates in April is higher, but the market may have been conservative in its expectations for the Bank of Japan's interest rate hikes this year.

Salary increase approaching 5%? UBS predicts that "Spring Struggle" may exceed expectations, significantly impacting the Bank of Japan.

黄金价格创历史新高，值得注意的是，各类资产的波动率本周开始明显抬升。

金银涨幅霸榜，全球芯片 LOF 一周涨超 18%｜海外大类资产周报

The content is of average value, but it mentions the highest priority elements.

Track Hyper | How did AMD increase its market share in discrete graphics cards?

股市的增量资金主要来自险资，其对市场风格的影响需重点关注。活跃资金中的两融和私募是科技成长方向的重要增量，而外资和保险则是机构投资者加仓的主要方向。险资增配权益资产的意愿抬升，预计险资将成为未来一段时间最具确定性的增量。保险资金将是今年市场的重要增量，由于股权风险溢价回升和长端利率回落，险资增配权益资产的意愿预计将保持较高水平。预计全年保险资金将为 A 股市场贡献...

股市的增量资金从哪儿来？

比特币最大多头之一、Microstrategy 创始人兼执行董事长迈克尔•塞勒提出与阿克曼直接讨论这个问题。迈克尔•塞勒回应称，“你应该买一些比特币，但不是出于上述原因，大多数比特币矿工正在降低其他消费者的电力成本，而不是提高。如果你想一对一讨论，请告诉我。”

Microstrategy 创始人塞勒回应阿克曼考虑买入比特币

对冲基金大鳄阿克曼表示考虑买入比特币，预测比特币价格可能会大幅上涨。他认为比特币价格上涨会导致能源成本推高、通胀上升和美元贬值，进而推动对比特币和能源的需求增加。阿克曼认为比特币具备无限潜力，但也指出一切都可能反转。这则消息属于投资研究相关信息。

对冲基金大鳄阿克曼称考虑买入比特币

非农就业超预期是真的强吗？

J.P. Morgan predicts that Vietnam's "Emerging Market Dream" coming true will bring in $500 million in passive fund inflows to the Vietnamese stock market.

The key to the direction of the Vietnamese stock market: Inclusion in the FTSE!

比特币短线走高超 500 美元，突破 69000 美元/枚，日内涨 1.02%。

谷歌工程师预测，人工智能（AI）将在 2029 年实现通用人工智能（AGI），并在五年内通过人类测试。这一预测与英伟达 CEO 黄仁勋的观点一致。黄仁勋表示，如果将 “像人类一样思考的计算机” 定义为通过人体测试能力，那么 AGI 将很快到来。他相信，AI 将能够在五年后通过各种测试，包括专业医疗测试。此外，黄仁勋还讨论了晶圆厂的需求和 AI 产业的扩张。

谷歌工程师硬核长篇预测，证实黄仁勋观点：AGI 或在 2029 年出现，AI 五年内通过人类测试

During the dot-com bubble in 2000, Cisco's revenue growth rate reached 59%, with a forward P/E ratio as high as 138 times. Nowadays, NVIDIA's P/E ratio is only 30 times, but its revenue growth rate has reached 90%.

Morgan Stanley: The AI infrastructure is just beginning, NVIDIA is not Cisco, far from 1999.

Morgan Stanley has observed that the innovation speed of generative AI tools is accelerating. According to Sam Altman from OpenAI, GPT-5 is expected to achieve a significant leap in functionality, similar to the transition from OpenAI to GPT-4.

Summary of Morgan Stanley TMT Conference: The Early Stage of the Big Opportunity in AI

黄金价格快速上涨并创历史新高，引发市场关注。传统解释不足以解释这一现象，因为美债利率和美元指数回落并不明显，且市场风险偏好较高。央行购金可能不是导致金价上涨的主要原因。黄金和比特币作为替代品受益于发达国家政府负债对货币信用的冲击。比特币涨幅更大，原因包括 ETF 上市和挖矿奖励减半预期。

传统指标无法解释的黄金新高

Facing concerns about slowing growth, intensifying competition, and the emerging "fear of heights" sentiment in the market, is NVIDIA's brilliance fading away?

Finally, NVIDIA has crashed!

美国 ETF 市场规模为 8.15 万亿美元，数量超过 3400 只。按投资策略来看，追踪指数型、指数增强型、主动管理型分别占比 74%、19% 和 7%。美股 ETF 的成交量占股市成交量比重达到 30% 左右，高于欧洲和亚太地区 13%-15% 左右的比例，市场流动性、透明度和定价效率较高。

国信证券：美国 ETF 市场规模大 流动性强 权益类 ETF 占据主导地位

比特币价格首次触及 7 万美元，尽管有所回落，但仍呈上升趋势。近期在期权市场上，押注比特币进一步升破 8 万美元乃至 10 万美元的看涨期权持续受热捧。根据数据，80000 美元和 100000 美元的比特币看涨期权的未平仓合约数量在过去 24 小时内大幅上升。

比特币史上首次触及 7 万美元：期权押注已看向 10 万

Three safety incidents involving Boeing aircraft this week have once again plunged Boeing into a reputation crisis.

Another Boeing aircraft incident this week! Engine caught fire, slid off the taxiway, and lost a tire.

比特币在美国早盘交易中一度突破 7 万美元，刷新了纪录。然而，随后出现抛售，价格下跌超过 3%。比特币看涨期权市场活跃，名义未平仓合约已超过 2000 万美元。由于华尔街对比特币 ETF 的青睐，比特币供需平衡增至 1:10。比特币今年上涨 59.7%。

比特币一度突破 7 万美元 投资者押注 20 万美元看涨期权

Daqo New Energy(DQ) rose 8.47%, with a trading turnover 77.1 Million USD, and a year-to-date rose 5.5%. Opera(OPRA) rose 7.95%, with a trading turnover 65.8 Million USD, and a year-to-date rose 21.7%. Jin Medical(ZJYL) fell 23.91%, with a trading turnover 6.1 Million USD, and a year-to-date fell 43.6%. JOYY(YY) fell 6.91%, with a trading turnover 55.5 Million USD, and a year-to-date fell 25.7%.

Top 5 CDRs Gainers/Losers (>100M) (3.8)

BigBear.ai(BBAI) fell 31.65%, with a trading turnover 106.2 Million USD, and a year-to-date rose 20.1%. Macrogenics(MGNX) fell 15.02%, with a trading turnover 80.7 Million USD, and a year-to-date rose 81.2%. Petroleo Brasileiro SA(PBR) fell 11.5%, with a trading turnover 1.5 Billion USD, and a year-to-date fell 7.5%.

Top 10 US Stock Losers (3.8)

Nextera Energy(NEE) rose 2.74%, with a trading turnover 725.6 Million USD, and a year-to-date fell 4%. Comcast(CMCSA) rose 2.01%, with a trading turnover 763.5 Million USD, and a year-to-date fell 2.2%. Costco Wholesale(COST) fell 7.64%, with a trading turnover 6.3 Billion USD, and a year-to-date rose 10.1%. Broadcom(AVGO) fell 6.99%, with a trading turnover 9.9 Billion USD, and a year-to-date rose 17.2%.

Top 5 US Stock Gainers/Losers (>100B) (3.8)

Smith &amp; Wesson Brands(SWBI) rose 29.39%, with a trading turnover 74.6 Million USD, and a year-to-date rose 28.2%. Samsara(IOT) rose 13.97%, with a trading turnover 677.8 Million USD, and a year-to-date rose 17.3%. HCI(HCI) rose 13.85%, with a trading turnover 79.2 Million USD, and a year-to-date rose 29.8%.

Top 10 US Stock Gainers (3.8)

Novo Nordisk's Wegovy has been approved by the U.S. Food and Drug Administration (FDA), and clinical trial results show that the drug has benefits for heart health.

Novo Nordisk AS announced that the clinical trial results of Wegovy show that the drug has benefits for heart health.

Some analysis points out that the final approval result of Lilly's drug donanemab by the FDA has become a key factor affecting Lilly's stock price.

Eli Lilly's new Alzheimer's drug Donanemab faces another setback! FDA once again delays its approval for market launch.

NVIDIA announced a 1-for-4 stock split back in May 2021 when its stock price was around $600, much lower than the current nearly $1000. The reason for NVIDIA's stock split in 2021 was to make it easier for investors and employees to own shares. Analysts suggest that if NVIDIA can continue its growth trajectory and stay on an upward trend, a stock split in the next one or two years would be reasonable.

After a market capitalization surge of over $1 trillion, analysts believe NVIDIA may consider another stock split in the future.

比特币回落至 67000 美元以下，较高位回落超 3000 美元。

ProShares 比特币策略 ETF 上涨 1.5%。

加密货币市场持续升温，比特币首次突破 7 万美元大关。投资者对新的美国现货 ETF 需求增加，全球利率下降的预期提振了比特币价格。过去几周，数十亿美元流入 ETF，加密货币行业获得额外支持。美国证交会批准了 11 只现货比特币 ETF，标志着该行业的重要里程碑。然而，一些人担忧这些资产仍存在投机性质。比特币价格经历剧烈波动，本周跌幅超过 10%。

加密狂热继续席卷市场 比特币首破 7 万大关

比特币短线回落约 1800 美元，现报 68300 美元/枚。以太坊此前一度接近 4000 美元/枚，现回落至 3936 美元/枚。

比特币突破 70000 美元/枚，日内涨 3.93%，创历史新高。

比特币站上 69000 美元/枚，日内涨 2.44%。

On Friday, stocks related to Bitcoin surged. As of the time of writing, MicroStrategy rose by over 4%, Coinbase by over 6%, Canaan by over 7%, and Marathon Digital by over 10%. Bitcoin reached $68,000 per coin, with a daily increase of 0.95%.

U.S. Stock Market Update: Bitcoin surpasses $68,000 per coin, driving up stocks related to the concept of Bitcoin.

比特币站上 68000 美元/枚，日内涨 0.95%。

In the context of the overall cooling of the electric vehicle market, Rivian Automotive has launched two affordable models.

Imitating Tesla? Rivian Automotive raises prices and launches affordable electric vehicles.

经过几年的调整，海外资金正在寻找相对低估的资产，对香港市场保持相对乐观态度。市场核心依然是防御性，但也有小型公司在流动性改善下出现反弹。区块链和钙钛矿是表现最强的板块，比特币热火朝天，预计比特币减半和美联储降息将推动比特币价格上涨。黄金和比特币都具备避险属性，未来避险仍是市场关注的重点。钙钛矿方面，协鑫光电等头部厂家计划实现 GW 级新产能落地。

智通港股解盘 | 防御性成核心 海外资金寻找相对低估资产

LONGFOR GROUP launches a strong counterattack against the short sellers.

On ByteDance, it's easier to achieve overnight fame, while on Instagram, it's easier to monetize your fan base.

Entering the short video market successfully? Instagram, owned by Meta Platforms, surpassed ByteDance in new downloads last year.

据 BitMEX Research 数据，美国现货比特币 ETF 的总净资产价值已逾 540 亿美元，占当前 BTC 供应量约 4%。

加密货币总市值突破 2.7 万亿美元，BTC 市值为 1,326,937,600,864 美元，ETH 市值为 475,196,028,690 美元。24 小时交易额为 217,452,172,792 美元。

加密货币总市值突破 2.7 万亿美元

JD.com's Liu Qiangdong makes a strong move.

JD surged by 40 billion overnight.

NVIDIA's core? Create technology before creating demand!

Greatness is always achieved through perseverance! The latest interview with Huang Renxun from Stanford University: entrepreneurial journey, overcoming challenges, and the future of AI.