Google's TPU Sales Challenge Nvidia Dominance; Xiaomi Rallies on Lei Jun's Stake Boost. ｜Today's Important News Review

1125 ｜Dolphin Research Focus:

🐬 Individual Stocks

1.$Alphabet(GOOGL.US)

There are reports that Meta is in talks with Google to use TPU chips worth billions of dollars in its data centers by 2027, and plans to rent chips from Google Cloud next year. Although TPUs are not as flexible as Nvidia GPUs, they are cheaper to develop and consume less power when running at full capacity.

If TPUs are successfully supplied externally, it would mark increased competition in the AI chip market, potentially impacting Nvidia's market share and pricing power. For Google, opening up a new chip sales business could also expand its revenue sources.

2.$XIAOMI-W(01810.HK)

According to Xiaomi's announcement, founder Lei Jun has personally increased his stake by over HKD 100 million, purchasing 2.6 million shares at an average price of approximately HKD 38.58, raising his holding to 23.26%.

This increase comes as Xiaomi's stock price has retreated more than 35% from its peak this year, and the company has recently repurchased over HKD 800 million worth of shares. This repurchase aims to signal to the market that the stock price is undervalued, providing short-term support to the stock price. Xiaomi's stock continued to rise by more than 4% today.

3.$Amazon(AMZN.US)

Amazon announced that it will invest up to USD 50 billion to build dedicated data centers in the US starting in 2026, adding nearly 1.3 gigawatts of AI and supercomputing capacity, serving over 11,000 US government agencies, and providing services such as SageMaker AI, Bedrock, and custom chip support.

This investment precisely targets the market demand for high-security, high-computing power at the government level, further consolidating AWS's industry position.

4.$HESAI-W(02525.HK)

At its technology open day, Hesai launched the RISC-V architecture lidar dedicated main control chip Fermi C500, the world's only "photon isolation" safety technology, and the 256-line lidar ATX revamped version.

The new technology has been integrated into the main products, marking an improvement in the company's vertical integration capabilities in core technologies, helping to reduce costs and improve performance. This is an intrinsic driver for the stock price increase, coupled with the positive news of being included in the Hang Seng Composite Index mentioned yesterday, driving the company's stock price to soar by more than 16% in a single day.

5.$Apple(AAPL.US)

Media reports indicate that Apple is cutting dozens of sales positions and restructuring its business units targeting enterprises, schools, and governments, involving key account managers and briefing center staff. This move aims to shift more sales functions to third-party resellers, thereby optimizing operational efficiency and controlling rising costs.

6. Alibaba and Nio will release their financial reports tonight, and Dolphin Research will follow up with analysis and interpretation.

🐬 Leading Sectors

Shanghai and Shenzhen: Data processing and outsourcing services, video games and multimedia, communication equipment;

Hong Kong stocks: Commercial printing, industrial chemicals, insurance brokerage companies;

US stocks: Precious metals and minerals, silver, internet content and information.

🐬 Focus for Tomorrow

1. US Real GDP Annualized QoQ Revision, US Personal Spending MoM, US Core PCE Price Index MoM, US Core PCE Price Index YoY;

2. Financial reports from Li Auto and Dell.

Risk Disclosure and Statement of this article: Dolphin Research Disclaimer and General Disclosure