美国国会众议院成立了一个以人工智能为中心的两党特别工作小组，共有 12 名成员参加。该小组将由共和党国会众议员奥伯诺特和民主党国会众议员泰德担任主席，负责撰写报告和提出与人工智能相关的政策建议。

美国国会众议院宣布成立两党特别工作小组：以 AI 为中心

On Tuesday, Uber Technologies announced a partnership with Mitsubishi Electric and delivery robot company Cartken to launch an autonomous driving robot meal delivery service in Japan. This will be UberEats' first international site in Japan and its latest collaboration in automated meal delivery services. Sidewalk robot meal delivery services will begin in some areas of Tokyo at the end of March. Cartken will provide AI-guided robots that move at a speed close to human walking pace to form Japan's robot delivery fleet. Mitsubishi Electric will be responsible for overseeing operations. This partnership will provide sustainable food delivery services for consumers in Japan. Meanwhile, UberEats has also piloted automated meal delivery services with other robot companies in the United States.

AI is also delivering food now! UberEats will launch autonomous driving robots for food delivery in Japan.

财报披露前夕，英伟达股价大跌，引起投资者关注与担忧。英伟达近年业绩表现亮眼，2024 财年前三季度营收、净利润同比飙增，市场对四季度表现寄予厚望。然而，股价大幅增长已被市场预期所反映，可能是导致股价下跌的原因。英伟达的股价在 AI 领域需求爆发和 GPU 市场垄断地位的推动下疯涨了 3.75 倍，市值已涨破 1.7 万亿美元。财报披露前夕的股价大跌，成为英伟达面临的严峻考验。

财报披露前夕股价大跌，英伟达遭 “严峻” 考验？

港股農曆新年假期後表現不俗，恒指即市重上 16500 點樓上，成功升破之前雙頂阻力。至於後市走勢如何，仍要睇返成交續後能否配合，否則都只能示為挾淡倉，維持上落市走勢。除非內地經濟有明顯改善，暫時只能視中港股市為上落市格局。

港股破 16500 前雙頂！持續升勢仍需成交配合

The head of investment strategy research at Schroders believes that the market being at historical highs should not be a reason for investors to give up investing in stocks. Drawing lessons from history, "nervousness is unnecessary" - the average investment return in the 12 months after the new high in the US stock market can outperform inflation by 10.3%!

Understanding the Market | As the US stock market continues to hit new highs, why should investors not throw in the towel?

“人们已经投入了几乎所有的现金，严重依赖英伟达。如果出现问题，我感觉会出现连锁抛售，零日到期期权可能会以负面方式开始发挥作用。”

警惕：若英伟达财报不佳，美股短期或回调 5-10%！

金融港股涨幅扩大，中国平安 H 股涨近 9%。保险股中，新华保险涨 7%，众安在线涨 6%，中国太平涨 5%，中国太保涨 5%，中国人寿涨 5%。银行股中，招商银行涨 7%，工商银行涨 3%。券商股中，中金公司涨 4%。中信建投表示，2 月 LPR 下调时点符合预期，5 年期下调幅度超出市场预期。此政策组合有利于刺激房地产需求改善、托底宏观经济，同时有利于银行息差。利好银行估值，拥抱绩优银行标的。

金融港股涨幅扩大 中国平安 H 股涨近 9%

Sora 新视频在 TikTok 上受到热烈欢迎，短短 4 天涨粉 10 万，50 万赞。OpenAI 的 AI 视频技术引起了很多关注和讨论。Sora 的逼真程度让人难以分辨真假，网友开始怀疑在网上看到的一切。这对短视频创作者产生了冲击，甚至影响到了平台本身。字节跳动和 OpenAI 似乎在 AI 领域将展开一场竞争。在 Sora 火爆之前，字节内部也有类似的技术。Sora 的发布引起了广泛讨论。

Sora 新视频只发 TikTok：OpenAI 4 天涨粉 10 万

Traders have generally anticipated a positive earnings report from NVIDIA. In order to maintain a stable stock price after the earnings release, the performance must exceed expectations significantly.

Goldman Sachs: NVIDIA is currently "the most important stock on Earth", tonight's earnings report "must" greatly exceed expectations.

Despite analysts' expectations that NVIDIA's Q4 revenue is expected to more than triple, it may still disappoint some investors because they have become accustomed to NVIDIA repeatedly outperforming analysts' expectations.

Expected triple growth in revenue! Does NVIDIA still need to "exceed expectations"?

比特币跌破 52000 美元/枚，日内跌 0.13%。

英伟达绩前，华尔街大声警告：英伟达财报可能是给美股期权热潮踩刹车的关键催化剂，有可能逆转过去四个月市场的大部分涨势！

理解市场 | 警惕美股 “期权狂热” 崩盘风险！

谷歌和微软正在主导人工智能领域，因为 AI 初创企业面临高昂的算力成本和生存危机。这些初创企业难以承担芯片和云计算的租赁费用，导致许多企业倒闭或被收购。大型科技公司如微软、亚马逊和谷歌以及芯片制造商英伟达成为主要受益者。由于成本过高，初创企业需要依赖第三方模型，而缺乏核心 AI 科学家的支持也是他们的一个挑战。大科技企业通过投资继续扩大 AI 的影响力。

随着算力成本飙升，谷歌、微软正在主导人工智能

The recent economic data may delay the Fed's normalization plan and even consider raising interest rates, leading to more resistance in the US stock market. The Pro UltrPro Shrt S&Pro 500 may see further declines in the near future. According to the Fed's economic forecast summary, they expect GDP to slow to 1.4% in 2024, the unemployment rate to rise to 4.1%, and core PCE to drop to 2.4%. However, recent data shows a strong labor market and inflation levels remaining high. Analysts believe this may impact the Fed's decision-making.

The "rate cut dream" of the Federal Reserve is forced to be postponed. Is a major correction in the US stock market imminent?

恒生科技指数日内涨幅超 4%，联想集团、商汤涨超 7%，美团、众安在线涨超 6%。

苹果 Vision Pro 首款头戴式显示设备发售两周后，消费者的反馈出现了分化。虽然许多用户对其沉浸式体验功能评价正面，但也有用户因设备沉重、佩戴不舒适等原因选择退货。一些民意调查显示，约 76% 的受访者表示会退回 Vision Pro。不过，苹果公司解决了设备问题并降低价格后，许多用户表示会考虑购买第二代产品。目前，退货情况并没有像传闻中的那样严重。

苹果 Vision Pro 发售两周：退货、头痛与 Meta“拉踩”

港股科网股强势反弹，新火科技涨近 10%，美团涨近 6%，微博涨超 5%，美图、京东涨超 3%，腾讯控股涨超 2%。

After 7 years of establishment, is "McDonald's" welcoming a new shareholder?

Several sovereign wealth funds are considering investing in McDonald's China.

芯片专家详解刷屏的 Groq 芯片，Groq 速度更快，核心技术是 LPU，但成本太高，还不能成为英伟达的竞争对手。Groq 公司成立于 2016 年，去年 11 月曾与马斯克的 Grok 公司发生商标争议。Groq 云服务上线后获得好评，被称为低延迟产品的 “游戏规则改变者”，有望对 GPU 在人工智能应用需求方面实现 “革命性提升”，可能成为英伟达 A100 和 H100 芯片的有力替代品。

芯片专家详解刷屏的 Groq 芯片

In the morning session, MEITUAN rose by over 5%, reaching a 5.04% increase to HKD 77.1, with a trading volume of HKD 10.67 billion. According to CICC, during the Spring Festival holiday, the daily consumption on MEITUAN's platform increased by 36% compared to last year, with the growth rate in lower-tier cities doubling that of first-tier cities. Nighttime consumption accounted for 53% (a 48 percentage point increase YoY), and out-of-town dining orders grew faster than the national average. It is estimated that MEITUAN's core business revenue will increase by around 23-24% YoY in the first quarter of 2024, compared to Visible Alpha's consensus forecast of 20.7%. Of note, on February 2nd, MEITUAN CEO Wang Xing announced a new organizational restructuring in an internal email. The email revealed that MEITUAN has integrated various core local business-related operations and further prioritized technology and international business. The most significant change in this adjustment is the synergistic development of in-store and delivery services.

Hong Kong Stock Market Update: Meituan surged over 5% again, with a cumulative increase of over 20% this month. The strong consumer spending during the Spring Festival is expected to support the company's performance.

港股汽车股回暖上升，理想汽车涨超 3.5%，长城汽车、零跑汽车涨超 3%，华晨中国、比亚迪股份、小鹏汽车涨超 2%。

SINOHOPE TECH surged more than 15% intraday, with a 12.24% increase as of the time of publication, reaching HKD 3.21 with a trading volume of HKD 56.244 million. On the news front, the overnight U.S. bond yields fell intraday, with the two-year yield dropping more than 10 basis points from the two-month high set the previous trading day. The Invesco DB US DLR Index TR Bullish Fund hit a new low in over a week. Bitcoin surged to over $53,000 intraday, hitting a two-year high, but later dropped below $51,000. It is reported that Bitcoin has been on a continuous rise in the past four weeks leading up to February 18th. Data shows that in the past five years, after Bitcoin has risen continuously for four weeks, the average increase in the following three months is 49%. SINOHOPE TECH is known for providing virtual asset trading and technical solution services, including virtual asset lending, asset management, and over-the-counter trading platforms acting as an exchange. In the 2023 fiscal year, revenue from over-the-counter trading and lending management services amounted to HKD 2.811 billion, accounting for 99.19% of total revenue.

In the Hong Kong stock market, SINOHOPE TECH surged more than 15% during trading, while Bitcoin briefly hit $53,000.

恒生科技指数涨幅扩大至 2%，恒生指数涨 1.66%，美团涨超 3%，中芯国际涨超 2%，理想汽车涨 3.5%。

CITIC Securities released a research report stating that the Sora model released by OpenAI expands AI capabilities to videos and 3D, proving that the boundaries of basic model capabilities are still improving. Although it may take time for popular applications to land, a new round of industrial catalysis has emerged, and short-term market trends may be weaker than from February to May 2023, but with longer sustainability. At the same time, the CEO of OpenAI is promoting a project aimed at enhancing global chip manufacturing capabilities. The potential and sustainability of the AI market are worth paying attention to.

Understanding the Market | How to view the space and sustainability of the current AI market trend?

“真正的 All in AI 是你在公司里面，把信仰落实到行动中，在你的公司里让 AI 无孔不入。AI 绝对是业务驱动的。”

科技巨头纷纷 All in AI

恒生指数盘中翻红，药明康德涨超 2.5%，中国石油股份涨近 2%。

Apple Vision Pro products have been launched in North America, seen as a significant milestone for Apple's extension from personal computing and mobile computing to spatial computing, combining productivity tools and entertainment terminal attributes. Although the initial headset is positioned in MR, it is also the starting point for Apple's evolution towards AR. CITIC SEC predicts that Vision Pro will have shipments of approximately 6/30/90 million units from 2024 to 2026, with the potential to reach tens of millions to hundreds of millions in the medium to long term. The hardware innovation of Vision Pro includes the combination of Apple's self-developed chips and the customized R1 chip with M2+. It is recommended to pay attention to the core components of the Vision Pro industry chain and investment opportunities in the equipment end.

CITIC Securities: Seven Questions and Answers on the Core Issues of Apple Vision Pro

港股开盘，恒指开跌 0.4%，科指开跌 0.74%；科网股普跌，网易、小鹏汽车、百度均跌超 1.5%。

In the options market, there is a bet that NVIDIA's stock price will fluctuate by 10% after its earnings report, leading to a market value change of $170 billion for the company.

Tomorrow morning, will NVIDIA options detonate the entire US stock market?

On February 22, NVIDIA will announce its fourth-quarter earnings for the 2024 fiscal year. Several Wall Street banks predict that its performance will exceed expectations and show growth. Wall Street believes that NVIDIA's GPUs are the only choice for running generative AI applications, and its performance is seen as crucial in the tech industry and the broader market. Analysts expect NVIDIA's Q4 revenue to reach $20.54 billion, with earnings per share of $4.63. NVIDIA's stock price has risen by over 50%, with a market value approaching $1.8 trillion, making it the third-largest U.S. company, behind only Microsoft and Apple.

All eyes on it! Will NVIDIA's performance, highly praised by Wall Street, become the key to the success or failure of the US stock market?

考虑到小鹏并不出色的盈利表现（2023 年第三季度，小鹏汽车毛利率为-2.7%，汽车销售毛利率为-6.1%），无论是 F57 还是 MONA，都是对小鹏产品能力的一次大考。

2024，进化后的小鹏能起飞吗？

下阶段，沪深交易所将从制度端、准入端、交易端、信息端、机构端等综合施策，持续加强对量化交易特别是高频交易的监测分析，并按照内外资一致的原则，将北向投资者量化交易纳入报告范围。

量化交易监管再出 “组合拳” 后续将成熟一项、推出一项

After soaring more than 110% in 2023, Palo Alto Networks' stock price has also risen by 24% this year! However, concerns have been raised about the cybersecurity company as it lowered its total revenue expectations for the current fiscal year, sparking worries that its customers may be cutting back on technology spending.

Understanding the market | Why did the "AI giant stock" Palo Alto plummet more than 20% after hours?

马斯克分享了英伟达 CEO 黄仁勋向 OpenAI 捐赠超级计算机的照片，以蹭 Sora 模型的热度。Sora 模型能生成 60 秒长的视频，并实现多角度切换，颠覆了其他视频生成模型的局限。马斯克早前表示特斯拉也能生成真实世界的视频，但由于训练数据来源于特斯拉，视频看起来像来自车辆上的摄像头。OpenAI 最初是非营利性机构，但现已重组为有限盈利企业，并接受微软的投资。Sora 模型的推出也对字节跳动造成了影响。

马斯克蹭 Sora 热度：分享黄仁勋向 OpenAI 赠英伟达超级计算机照片

Tech giants drag down US stocks, with small-cap and chip stock indices underperforming the broader market. NVIDIA has fallen for three consecutive days. Taobao opens up WeChat Pay. Huawei unveils its storage "AI brain". Alphabet-C continues to lay off thousands of employees. Amazon will be included in the Dow Jones Industrial Average. Uber will be included in the Dow Jones Transportation Average. Stellantis will produce Zero Run electric cars in Italy. Musk nominated for the Nobel Peace Prize. UBS raises Pro UltrPro Shrt S&Pro 500 target to 5400 points.

Breakfast | NVIDIA's single-day market value shrinkage hits a record, Microsoft develops NVIDIA network card alternatives.

Feb 20 (Reuters) - Amazon.comis set to join the Dow Jones Industrial Average, replacing Walgreens Boots Allianceeffective Feb. 26, S&amp;P Dow Jones Indices said on Tuesday.The change will increase consumer retail exposure as well as other areas in the Dow Jones index and was prompted by Walmart’sdecision to split its stock, S&amp;P Dow Jones Indices said.Shares of Amazon rose 1.6%, while Walgreens fell over 3% in extended trading after the news.Walmart will remain part of the Dow.

Amazon set to join Dow Jones Dow Jones Industrial Average

On Tuesday, there was no significant negative news affecting NVIDIA. The stock price of NVIDIA opened lower that day, with an intraday decline of up to 6.7% and closing down by 4.35%. Although the market generally expects NVIDIA's revenue to be boosted by the surge in demand for data center business, doubts have been raised continuously. Some traders have decided to lock in profits before the earnings report is released.

On the eve of the heavyweight earnings report, NVIDIA plummeted during trading hours, abruptly halting its upward momentum.

Media reports that a network card developed by Microsoft is similar to Nvidia's ConnectX-7. The development may take more than a year. If successful, it could save Microsoft money and potentially reduce the time OpenAI spends training large AI models on Microsoft servers.

Microsoft quietly reduces reliance on NVIDIA: developing alternative network cards.

Huawei teams up with Vanke to tap into the trillion-dollar market.

比特币突破 53000 美元/枚，为 2021 年 12 月以来首次，日内涨 2.15%。

比特币现货 ETF 的推出促使比特币交易流动性向美国转移。根据研究公司 Kaiko 的数据，美国交易场所的交易行为占比特币中间价 2% 以内买卖行为的近一半。今年 1 月，九个美国比特币 ETF 首次亮相，吸引了 50 亿美元的投资净流入。比特币现货 ETF 被视为加密货币采用的拐点，预计将提升数字资产交易量。目前，57% 的比特币兑美元交易在美国市场时段进行，比例较去年有所增加。比特币的积极价格走势在美国交易时段最为明显。这些数据显示，美国加密货币交易所的比特币交易更为容易，流动性增加的优势被市场参与者充分利用。

比特币流动性转向美国 现货 ETF 重塑加密货币市场

欧洲汽车巨头考虑与行业竞争对手合作，建立类似空客的电动车制造联盟。雷诺首席执行官提议通过合作、共享研发资源、合并业务等方式来分摊电动车生产成本，生产更便宜的电动车。欧洲车企面临严格环保法规、价格战和特斯拉等竞争挑战，开始探索合作模式，以抵御海外竞争对手。不同车企对合作方案存在不同意见，但都希望实现规模效应，降低成本。欧洲汽车业正面临转型浪潮，电动车发展成为核心战略之一。

报团取暖！欧洲汽车巨头据报道考虑与行业死对头合作，生产更便宜电动车

From "dominating the market" to "competing with many strong players".

Taobao announced the establishment of a live streaming e-commerce company, what is its intention? | Insight Research

芝商所将于 3 月 18 日推出以欧元计价的微型比特币和以太坊期货。订阅数字货币资讯

NVIDIA's challenger Groq is here! Abandoning GPUs, they have developed their own LPU! The text generation speed is faster than blinking! The inference scene speed is 10 times faster than NVIDIA, but the price and power consumption are only one-tenth of the latter.

The fastest large-scale model explosion in history! Groq became an overnight sensation, with its self-developed LPU outperforming NVIDIA GPU in speed.

In the next 10 years, companies that may be more profitable than in the past 10 years include: Apple, Pinduoduo, Tencent, Moutai, Berkshire Hathaway, Microsoft, Alphabet Inc., McDonald's, and Coca-Cola.

After 10 years, which companies will still be around according to Duan Yongping?

比特币今年以来一路上涨，市值首次突破 1 万亿美元大关。比特币的复苏也推动了加密货币市场的发展，目前市值已超过 2 万亿美元。美国监管机构批准了几只现货比特币交易所交易基金，促进了加密货币行业的增长。投资者对比特币的兴趣和交易量也在增加。预计比特币在 2025 年将达到 15 万美元。

比特币重夺 1 万亿美元市值 明年冲刺 15 万美元？

瑞士零售金融机构 PostFinance 将提供其加密货币服务。

NVIDIA, which has attracted widespread attention, will release its earnings after the market closes on the 21st.

Hot discussion on WallStreetBets | NVIDIA will release its earnings report, Morgan Stanley says: Buy!

深交所和上交所发文称，2 月 19 日宁波灵均 1 分钟在两市合计卖出 25.67 亿，期间深证成指和上证指数快速下挫，影响了正常交易秩序。