英国《金融时报》日前报道，中国互联网巨头正争相采购对构建生成式人工智能系统至关重要的英伟达高性能 AI 芯片，今明两年的订单价值达 50 亿美元。8 月 11 日，英伟达方面向记者回应称：“消费互联网公司和云服务提供商每年在数据中心组件方面投入金额达数十亿美元，通常都会提前几个月下订单。

中国互联网巨头豪掷 50 亿美金疯抢 GPU？英伟达回应了

On Thursday, Disney options trading volume tripled, Alibaba surged nearly 5%, and options trading volume doubled. Wework soared 43%, with bullish options accounting for 98%. Ford's bearish options trading accounted for 50.7%. Johnson & Johnson's call/put options with a maturity of 35 days and a strike price of $210 were actively traded.

US Stock Options | Alibaba and Ford options trading volume doubles, Wework options trading surges 20 times

漂亮的成绩单一定程度上减轻外界对阿里改革沦为形式的担忧，拆分的成效比想象中更为迅猛，市场对这份财报做出了积极的回应。

剧变 130 天，阿里巴巴迎来反弹时刻

近日业界传出，受终端需求不振与市场竞争影响，台积电与世界先进近期陆续调降 8 英寸晶圆代工报价，最高降幅高达 30%。但据台湾电子时报称，业内消息人士认为台积电和世界先进不太可能下调 8 英寸代工报价。台积电和世界先进只有在数量和长期合同就位时，才进行价格谈判，以维持其晶圆平均销售价格和毛利率。其中，世界先进是专门从事 8 英寸晶圆制造的厂商，其价格谈判较灵活，但该代工厂仍坚持只与大量和长期订单进行谈判，平均折扣可达 15％，最大折扣可达 30％。

台媒：台积电、世界先进不太可能下调 8 英寸代工报价

科技股仅阿里巴巴上涨 1.8%，华虹半导体跌超 8%，理想汽车跌超 4%，蔚来、哔哩哔哩、快手跌超 3%，小鹏、美团、携程跌逾 2%。

恒生科技跌超 2%，电信上涨，券商领跌，碧桂园上涨

Next week, earnings reports will be released by Tencent Music, Sea, Tencent, JD.com, Hong Kong Exchanges and Clearing Limited, JD Health, JD Logistics, BILIBILI-W, Walmart, XPENG-W, China Resources Beer, ZTE, Vipshop, and other companies. In addition, economic data for July will be announced for both China and the United States.

Next Week Preview | Earnings Reports for TENCENT, JD-SWR, XPENG-W; Review of Hang Seng Index Series for Q2; Annual Speech by XIAOMI-W's Lei Jun

AI becoming a new growth curve for Alibaba Cloud will still take time, but positive signs have already emerged. For Alibaba Cloud, it already has sufficient first-mover advantage, what the market needs is just patience.

Alibaba's transformation, how can it achieve immediate results? Reshaping the value of the platform, AI is also a long-term opportunity!

Thanks to a set of key words and the future support of AI prospects.

Track Hyper | Massive Increase in Net Profit in 2023H1: What Did CHINA LIT Do?

《欧洲芯片法案》正式通过，台积电、英特尔等晶圆厂纷纷拿到真金白银的补贴，但欧洲人才缺口及半导体行业人才结构的复杂性，或成欧洲半导体发展的最大挑战。

欧洲芯片，疯狂搞事

Established less than a year ago, we are committed to taking an unconventional approach.

Shorting Tesla, Nvidia, and Nasdaq, the "Most Tragic ETF of the Year" suffered a massive loss of 59% and was forced to liquidate.

Enterprise Digitization and AI: Unlocking the Next Decade for Telecommunication Operators.

23H1 of the three major telecom operators: All in Cloud Computing + AI

This is Wall Street's judgment: 1. The rate of Alibaba's market share loss may gradually slow down; 2. Alibaba Cloud is in a favorable position in the field of large-scale models; 3. Cloud revenue growth may face certain pressure, but it maintains a constructive attitude towards the contribution of AI-related revenue!

"Expecting Continued Growth Momentum!" Wall Street is raising Alibaba's target price!

There are two major concerns about current US inflation: core CPI and core PCE have not yet reached the Federal Reserve's 2% target, and energy prices have risen again in July. In addition, there are clear internal divisions within the Federal Reserve, with some senior officials believing that an early pause in rate hikes could lead to a resurgence in inflation.

US CPI has dropped, but there are still "two major concerns"

36 氪获悉，阿里达摩院（湖畔实验室）宣布向社会免费开放 100 件 AI 专利许可，这将成为中国人工智能规模最大的一次专利开放行动。据了解，阿里达摩院此次免费开放 100 件 AI 专利许可，将被纳入全国首批专利公开实施清单，在浙江知识产权交易中心上架，覆盖了图像技术、视频技术、3D 视觉等诸多 AI 技术领域，让中小微企业以较低成本甚至零成本获得 AI 技术红利，加速 AI 时代的到来。

阿里达摩院免费开放 100 件 AI 专利许可

企查查 APP 显示，近日，佛山市高明区碧桂园房地产开发有限公司发生工商变更，杨惠妍卸任董事长一职；卜德华不再担任总经理、董事，余佩玲不再担任监事；李世华职位由副总经理、董事，调整为经理。佛山市高明区碧桂园房地产开发有限公司成立于 2004 年 1 月，注册资本 11.63 亿元，由恒宙国际有限公司全资控股。企查查显示，此前杨惠妍已卸任增城市碧桂园物业发展有限公司董事长。

杨惠妍再退出碧桂园旗下一公司董事长

CITIC Securities expects that the overall impact will be manageable after the risks are resolved, and attention can be paid to potential timing points for Sino-US dialogue, such as the G20 and APEC summits. However, the short-term thaw in Sino-US relations may be influenced by the US political cycle, and the potential disturbances caused by this need to be monitored.

Why the market doesn't need to worry excessively about US investment restrictions on China? Pay attention to the key moments of China-US dialogue!

港股高开低走，恒生科技指数跌超 2%，恒指跌 0.7%，科指成分股中仅阿里巴巴上涨。

Alibaba, the Return of the E-commerce King?

ByteDance's latest secondary market valuation exceeded $200 billion, making it still one of the most valuable private technology companies in the world.

Report: ByteDance's 2022 revenue reached $85 billion, with overseas daily active users reaching 840 million.

Last November, for the first time in 28 years, the year-on-year growth rate of the US money supply turned negative, and it has been stuck in a contraction zone ever since.

The "strongest firepower" that drove the rise of US stocks is no longer continuing! US currency supply has been shrinking for 8 consecutive months.

碧桂园跌超 10%，公司预期半年度净亏损介乎约人民币 450 亿元至 550 亿元，公司管理层承诺全力自救。

新加坡股市 10 日报：多只个股放量

恒生科技指数盘初跌超 1%，恒指跌 0.2%。碧桂园跌幅扩大至 8.6%。

据报道，X 公司 CEO 琳达·亚卡里诺接受采访称，公司决定舍弃推特品牌，反映了老板马斯克对该应用程序的愿景。亚卡里诺表示：“马斯克谈论超级应用程序 X 已有很长一段时间，包括宣布我加入公司的时候。我进入公司是为了与马斯克合作，将推特转变为超级应用程序 X。” 亚卡里诺强调，重塑品牌实际上是 “对推特的一次解放”。她表示：“如果维持推特或原有品牌，变化往往只是渐进式的。而就 X 而言，我们考虑有什么是可能的，而不是无法完成的渐进式变化。

X 公司 CEO 谈舍弃推特品牌：考虑的是更多可能，而非无法实现的渐进式变化

Morgan Stanley strategist David Kelly believes that patient investors can achieve higher returns from the stock market as inflation rates approach 2% by the end of 2024. The bond market can also provide investors with stable capital gains.

US CPI continues to cool down, Morgan Stanley advises investors to "stay in the stock market"

According to sources familiar with the matter, Amazon is reportedly abandoning dozens of its own brands in order to address antitrust scrutiny and boost profits.

Amazon is abandoning dozens of its own brands in response to anti-monopoly scrutiny.

截至 2022 年底，恒大公司总负债 1.83 万亿元，总资产 1.47 万亿元，已资不抵债。去年累计交楼 30.1 万套，许家印召开保交楼会议。

深夜大雷！恒大地产去年净亏 527 亿，流动负债 1.6 万亿，已资不抵债…

近段时间以来，伴随资金持续流入，多只港股相关 ETF 份额持续增长，其中华泰柏瑞南方东英恒生科技 ETF、博时恒生医疗保健 ETF、富国中证港股通互联网 ETF 等产品最新规模均已突破百亿元大关。与此同时，伴随港股市场逐步回暖，部分重仓港股的基金 7 月以来净值反弹幅度超过 10%。在多家机构看来，未来随着基本面、资金面等预期持续改善，港股有望进一步吸引增量资金流入。

抄底资金持续涌入，多只港股 ETF 规模突破百亿元

General Motors and Ford Motor, which have already lagged behind Tesla in the field of new energy vehicles, have recently encountered new troubles. Due to the possibility of unions demanding additional expenditures of up to $80 billion from the two American automotive giants, their production costs will rise and industry confidence will be undermined. General Motors fell by 5.8%, and Ford Motor fell by 4.5%. The market is concerned that if the two parties fail to reach an agreement and trigger a strike, it will have a negative impact on company operations and affect profit prospects.

New trouble for traditional American car factories! Unions or "lion's mouth", GM, Ford tumbled.

For Alibaba Cloud, the next strategic focus will be on digital-native internet companies or companies with well-developed digital transformation plans. There are two paths for companies to scale up: integrating with cloud services or focusing on a specific field. In the future, Alibaba Cloud will firmly pursue the path of open source.

Alibaba Phone Conference: Taotian Group to Create a Positive Investment Cycle AI Revolution to Become the Growth Engine of Alibaba Cloud

8 月 10 日，阿里巴巴 2024 财年第一季度财报会上，阿里巴巴集团董事会主席兼首席执行官张勇表示：“今天做大模型的公司不少，在中国，往后无非是两条路，一条是像阿里，和云一起，基础模型是普惠的，让更多的开发者来使用；二是企业从基础模型入手，但对某些领域聚焦，这取决于相关企业在该领域数据的质量和规模，“我想会有一大批这样的企业，从大模型起家，而后进入特定领域。

阿里张勇：做大模型的企业有两条路，和云业务结合或是在某领域聚焦

0DTE volatility typically correlates with mean reversion. SpotGamma data suggests that the 0DTE strategy may "pin" the S&P 500 index at the 4500 level.

"End-of-term options" set a record in trading, could US stocks face selling pressure?

碧桂园预期半年度净亏损介乎约人民币 450 亿元至 550 亿元。

8 月 10 日消息，碧桂园公告，由于房地产行业销售下行的影响以及外汇波动造成预期净汇兑损失，上半年净亏损约人民币 450 亿元至 550 亿元。

碧桂园四大措施开展自救：董事会主席出任专项工作小组组长

The probability of the Federal Reserve raising interest rates in September and November has been reduced to 7.5% and 27% respectively.

US inflation rebounds but falls below expectations, Fed's rate hike expectations cool, Nasdaq rises 1%.

Wall Street analysts have given a "Buy" rating to LI AUTO-W and XPENG-W, with a respective percentage of 90% and 60%. The target prices are $52 and $15, respectively.

Citigroup: Sell XPENG-W, Buy LI AUTO-W!

Li Auto rose nearly 5%, Alibaba rose over 3%, JD-SWR, PDD, BILIBILI-W, XPENG-W rose over 2%, BEKE-W rose over 3%, Applovin rose over 24%, CyberArk rose over 5%, Vail Resorts rose over 2%, and Plug Power dropped 12%.

Pre-market US stocks | Market expects US July CPI to rebound, Alibaba reduced 6,541 employees in Q2, TSMC's July revenue increased by 13%

宁德时代也要面临市占率下滑 | 见智研究

8 月 10 日，阿里巴巴集团发布 2024 财年第一季度财报。财报显示，截止到 6 月 30 日阿里有 228675 名员工，而在 3 月底这一数字为 235216 人，阿里单季度减少了 6541 名员工。

阿里巴巴单季度员工减少 6541 人

13F 报告显示：Artisan 买入微软，退出 Catalent，减持阿里巴巴，增持 Schwab。

Taotian Group's second-quarter revenue was $15.85 billion, a YoY growth of 12%. The daily active users (DAU) of the Taobao App increased by 6.5% YoY. Customer management revenue (CMR) reached nearly 80 billion yuan, with a growth of 10%.

Earnings Report | Alibaba's Q2 report exceeds expectations across the board, with a 6.5% increase in daily active users and a 10% growth in CMR.

阿里巴巴在第一财季以 31 亿美元的价格回购了 3560 万 ADS。

Furui is more optimistic about LI's AUTO-W prospects, mainly due to its strong product channels and the introduction of urban NOA (navigation assisted driving), and has raised the company's net profit forecast for this year and next year by 8.3 billion yuan and 17 billion yuan respectively.

Big Bank Quick Look | Li Auto, NVIDIA, Target Prices Significantly Raised!



Since 1928, the S&P 500 Index has experienced an average decline of 1.1% in the month of September, making it the worst-performing month of the year.

Century of Historical Experience: US Stocks Typically Perform Worst in September!

“巴菲特指标” 已达到了 170%，而超过 134％即意味着美股被严重高估，今年大幅上涨的美股离调整不远了？

市场快见顶了？这个巴菲特最爱的指标显示美股 “被严重高估”

SMIC expects a MoM revenue growth of 3% to 5% in the third quarter, with a gross margin ranging from 18% to 20%. SMIC stated that the shipment volume is projected to continue increasing in the third quarter.

Earnings Report | SMIC's Q2 profits better than expected, gross margin drops to 20.3%

Hong Kong's stock market has a higher concentration of market value, greater overall flexibility, and less liquidity compared to A-shares and US stocks. The trading activity of top companies is also higher. In addition, there is significant profit differentiation in the Hong Kong stock market, with top companies taking the lead.

Hong Kong Stock Investment Framework: Focus on Leading Companies and Specialized Sectors

华虹半导体：二季度销售收入达 6.314 亿美元，同比上升 1.7%，环比持平。

Jack Ma's statement "Returning to Taobao, returning to users, returning to the Internet" has taken effect! For the first time in two years, Taobao's daily active users have surpassed Pinduoduo, making it the only e-commerce platform in the industry with a daily active user count exceeding 400 million!

马云定调两个月后：淘宝用户活跃度，重回巅峰！

FactSet shows that economists expect the year-on-year growth rate of non-seasonally adjusted CPI in July to increase by 3.3%, up from 3% in June. This will be the first month-on-month increase in overall inflation rate in over a year.