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<h3>Market: Overnight and this morning</h3>
The US GDP growth rate in the fourth quarter greatly exceeded expectations, and the expectation of interest rate cuts has increased instead of decreasing. Although GDP is data from last year, it reinforces the logic that the Federal Reserve will adopt a cautious attitude this year, and it is expected that the Fed will cut interest rates cautiously and slowly. The three major indices collectively rose for the second consecutive day this week. The Dow Jones Industrial Average rose by 0.64%, the S&amp;P 500 rose by 0.53%, hitting a new closing high for the fifth consecutive day, and the Nasdaq rose by 0.18%.
Tesla fell by 12%, hitting a new low since May last year, with a market value evaporating by $210 billion this month. Microsoft's market value closed above $3 trillion for the first time. Meta and Microsoft both rose by about 0.6%, hitting a new closing high for three consecutive days. Alphabet-C rose by 2.1%, hitting a new closing high for two consecutive days; Netflix rose by 3.1% for four consecutive days, Amazon rose by nearly 0.6%, and Apple fell by nearly 0.2%. Nvidia rose by 0.4%, hitting a new closing high for six consecutive trading days; AMD rose by nearly 1.2%, hitting a new closing high for two consecutive days.
Most popular Chinese concept stocks fell. XPeng Motors fell by over 2%, Li Auto fell by 0.9%, and NIO fell by 0.5%. Dada Group fell by nearly 6%, Bilibili fell by nearly 4%, Kingsoft Cloud fell by over 2%, Alibaba and BIDU-SW fell by nearly 2%, Pinduoduo fell by less than 0.1%, and TAL Education and New Oriental Education both rose by around 6%.
<h3>What happened to blue-chip stocks and hot stocks</h3>
The Chinese National Press and Publication Administration released the approval information for domestic online games in January 2024, with 115 games approved. Tencent Games is on the list.
Apple is making comprehensive reforms to the App Store and iPhone functions in the European Union to appease regulatory agencies. Apple will reduce the App Store fee rate to between 17% and 10% in Europe, and will allow EU users to choose default browsers, stores, and payment applications.
The US Federal Trade Commission (FTC) is investigating the multi-billion-dollar investments by Microsoft, Amazon, and Google in artificial intelligence startups OpenAI and Anthropic, expanding regulatory efforts to curb the power that tech giants may have in the field of artificial intelligence.
Market news: Amazon plans to invest $10 billion in Mississippi.
Microsoft announced that it will lay off 1,900 people in Xbox and Activision Blizzard.
Huang Renxun met with the CEO of TSMC to discuss the issue of chip supply shortage.
Media: Vale and BHP Billiton have been ordered to pay nearly $10 billion in compensation.
OpenAI: Will launch the new GPT-3.5 Turbo model next week and reduce prices by 50%. Introducing a new generation of embedding models, the new GPT-4 Turbo and Moderation models. Launching new API usage management tools.
Intel's fourth-quarter revenue was $15.41 billion, exceeding market expectations of $15.2 billion, and compared to $14 billion in the same period last year. It is expected that the first-quarter revenue will be between $12.2 billion and $13.2 billion, while the market estimates $14.25 billion. Intel fell by over 7% after hours.
Intel and UMC reach a 12nm wafer foundry cooperation agreement, with production expected to begin in 2027.
SoftBank Group responds to reducing its stake in Alibaba: it has not bought or sold any new Alibaba shares in the market, and it has no plans to do so in the future.
<h3>Macro: Taking you around the world</h3>
China's Financial Regulatory Bureau: will further optimize the down payment ratio, loan interest rates, and other personal housing loan policies; will hold a meeting to deploy relevant work in the near future, providing more accurate support for reasonable financing needs of real estate projects.
Financial Regulatory Bureau: has lifted the equity ratio restrictions on foreign investment in financial institutions for joint ventures, acquisitions, and capital increases.
Starting from February 9th, China and Singapore will waive visa requirements for each other.

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Microsoft's market value reaches $3 trillion, while Tesla plunges 12%. Microsoft Games will lay off 1,900 employees. Taobao launches Huawei HarmonyOS native app development. Apple makes a historic concession in the European Union, significantly reducing the commission rate for the European App Store. Huang Renxun discusses chip supply shortage issues with TSMC's CEO. OpenAI cuts the price of its GPT-3.5 Turbo model by 50%. SoftBank Group responds to reducing its stake in Alibaba. The US Federal Trade Commission launches an investigation into investments in OpenAI and Anthropic.

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SoftBank Group Corp.

Breakfast | AMD, the chip giant, hits a new high, while Tesla's market value evaporates by $210 billion this month.