Broadline Retail

Amazon

Today’s Key News Recap

NVDA

AMZN

GPUS

BYTED

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1231 | Dolphin Research Focus: 🐬 Macro/Industry. 1) Dec. manufacturing PMI was 50.1%, up 0.9ppt vs. 49.2, returning to expansion after 4 months.Both production and new orders climbed above the 50% threshold. Equipment manufacturing and consumer goods stood out, with large enterprises showing stronger sentiment.The data confirm a warming in manufacturing sentiment. Policy backstops and a repair in domestic demand are taking effect, lifting cyclicals and consumer names.However, SMEs remain weak and the job market is under strain. The recovery looks moderate.2) Real estate headlines came out last night. ...

NVIDIA

Hyperscale Data

ByteDance

HYPERSCALE DATA INC 13.00%CUM RED PER PREF STK SER D USD25

ByteDance to spend RMB 14bn on NVDA GPUs; AMZN to invest $50bn in U.S. Gov. AI | Daily News Recap

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1229 | Dolphin Research Focus: 🐬 Macro/Industry 1) On Dec 27, MIIT established the 'Humanoid Robotics and Embodied Intelligence Standardization Technical Committee' in Beijing. The committee is chaired by the ministry's Chief Engineer, with the secretariat housed at the Beijing Electronics Society.Corporate members account for 50%+, including leaders such as Xiaomi and Huawei. Its mandate is to set standards across foundational technologies, key components, and safety, prioritizing urgent areas like multimodal perception and system-level safety, while aligning with Intl norms.This is a key milestone for industry standardization. Unified standards can lower component compatibility costs...

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

XPENG-W

XPeng

LEAPMOTOR

National Standards Committee for Humanoid Robots Formed; Huawei and Xiaomi Join; FAW invests RMB 3.7bn in Leapmotor | Daily News Recap

Deep Research

OpenAI

Microsoft

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GOOG

GOOGL

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In our prior piece 'AI's Original Sin: Is NVIDIA the stimulant AI can’t quit?', Dolphin Research argued that the key shift for the AI supply chain in 2025 is the extreme upstream capture of value, which has thrown the system out of balance. This imbalance is reshaping incentives and risk-taking across the stack.With FOMO running high, AI spend keeps climbing, while rivalry among core players has become more explicit. Capital allocations are increasingly concentrated at the top of the chain.As the internet enters the AI era, regardless of how shifting inputs reshape bargaining power along the value chain, one ultimate question remains. After front-loaded investment in heavy capex, deep tech, and top talent with an approx. five-year depreciation cycle, is this ultimately a bubble?

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Alphabet - C

Alphabet

Meta Platforms

Destiny Tech100

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

GraniteShares 2x Long MSFT Daily ETF

YieldMax MSFT Option Income Strategy ETF

2026's Harsh AI Question: after bns AI Capex, Where will Returns Come From?

Broadcom

Financial Analysis

AVGO

MSFD

In the early hours of Dec 12 Beijing time, AVGO released its FY2025 Q4 results after the U.S. close. The quarter ended Oct 2025.1) Overall performance: Revenue was $18.0bn, up 28.2% YoY. This beat the Street's $17.5bn.Revenue rose $2.0bn QoQ, driven by AI-related demand. AI remained the key driver.GPM was 68%. Excluding acquisition amortization and restructuring costs, adj. GPM was 76.6%, down 17bps QoQ...

Direxion Daily MSFT Bear 1x Shares

AVGO vs. NVDA: Did the challenger blink first?

Netflix

Hot topic

NFLX

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On Dec. 7, the long-running WBD sale neared the finish line as NFLX emerged as the buyer. The company agreed to acquire WBD's assets excluding cable TV for $72bn and to assume $10.7bn of WBD debt.The deal is still subject to regulatory approval due to antitrust concerns. About this acquisition...

Disney

Warner Bros. Discovery

Direxion Daily AMZN Bull 2X Shares

Dutch Bros

Paramount Skydance Corporation - CL B

MediaAlpha

Paramount Global

Roku

Wells Fargo

HSBC Holdings Plc

HSBC HOLDINGS

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WELLS FARGO & COMPANY 7.5% PERP CONV PRF CLS 'A' SERIES 'L'

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WELLS FARGO & COMPANY 4.75% DEP SHS 1/1000 NCUM PFD CL A SR Z

HSBC HK SDR 5to1

NFLX breaks its own rules, makes an RMB 80bn bet to become No.1 in film & TV

Alibaba

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AI glasses are regarded as the 'next-generation personal mobile gateway' and are also the most likely mobile terminal to challenge smartphones.

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Li Auto

Huawei

BABA-W

C3.AI

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KraneShares 2x Long BABA Daily ETF

Alibaba HK SDR 5to1

Alibaba, ByteDance, and Li Auto are rushing into the market; are AI glasses becoming the 'next big thing'? (Minutes)

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INTC

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1203 | Dolphin Research Key Focus: 🐬 Stock 1, $Amazon(AMZN.US) AWS introduced the 3nm process Trainium 3 at the annual conference, which offers over 4 times performance improvement compared to the previous generation, with memory increased by 4 times and energy efficiency improved by 40%. They also announced the development plan for Trainium 4, which will be compatible with NVIDIA chips, and several customers like Anthropic have already adopted this chip. It precisely addresses the pain points of enterprise AI computing cost and energy consumption, potentially challenging NVIDIA's monopoly in the computing power market...

Anaplan

Intel

Apple

Apple Group

GraniteShares 2x Long AAPL Daily ETF

Direxion Daily AAPL Bear 1x Shares

Direxion Daily AAPL Bull 2X Shares

T-Rex 2X Long Apple Daily Target ETF

Kurv Yield Premium Strategy Apple Aapl ETF

YieldMax AAPL Option Income Strategy ETF

INTEL-T

Amazon unveils 3nm AI chip; Intel stock surges｜Today's Important News Recap

Marvell

TECH

MRVL

Marvell Technology (MRVL.O) released its third-quarter financial report for fiscal year 2026 (ending October 2025) in the early morning of December 3rd, Beijing time, after the U.S. stock market closed: 1. Revenue: $Marvell Tech(MRVL.US) reported revenue of $2.07 billion this quarter, a quarter-on-quarter increase of 3.4%, in line with market expectations ($2.06 billion). The quarter-on-quarter increase of $60 million was mainly driven by enterprise networking and carrier business. 2. Gross Margin: The gross margin for this quarter was 51.6%, a quarter-on-quarter increase of 1.2%...

Bio-Techne

Marvell Tech

Marvell: Acquisition to Fill Gaps, Is the NVIDIA 'Alternative' Path Becoming a Reality?

COMP

Marvell Technology Quick Interpretation: The company's performance this quarter and guidance for the next quarter basically met expectations. The quarter-on-quarter performance this quarter was not mainly driven by data centers, but rather by the recovery of enterprise networks and carrier businesses. In the data center business, the company's optical interconnect products achieved double-digit growth quarter-on-quarter, but the custom ASIC business was affected by demand fluctuations (Amazon's product cycle), resulting in a quarter-on-quarter decline, ultimately leading to the company's data center business not showing significant quarter-on-quarter growth this quarter. Compared to this earnings report, the two core &#34;highlights&#34; provided by the company after the meeting are more important: 1) Raising guidance for the next fiscal year: The company's management had previously provided guidance for an 18% growth rate in the data center for the next fiscal year during a small meeting in September, and this time raised the guidance to 25%. With major manufacturers increasing capital expenditures, the company has also raised its expectations for next year; 2) Announcing the strategic acquisition of Celestial AI: This can fill the company's technological gaps and enrich its data center product matrix. Celestial AI's photonic fabric platform provides high bandwidth, low latency, and low power solutions for multi-rack XPU clusters (hundreds of XPUs). Previously, Marvell Technology's stock price was deeply mired in concerns about &#34;Alchip competition.&#34; The definitive guidance provided by the company's management can somewhat alleviate market concerns. Compared to companies like NVIDIA and Broadcom, Marvell is still on the periphery of the AI chip market. The announcement of the strategic acquisition of Celestial AI fills the company's shortcomings in the scale-up interconnect field and conveys the company's determination to continue competing in the data center and AI markets. For more information, please follow Dolphin Research's subsequent commentary and management minutes. $Marvell Tech(MRVL.US) $GraniteShares 2x Long MRVL Daily ETF(MVLL.US)

Compass

Ategrity Specialty Holdings LLC

MetLife

Bandwidth

NextDecade

Lowes

Matrix

Optec International, Inc.

Two Harbors Investment

Inter

Central Garden & Pet

Google

AMDL

002245

Marked by the release of ChatGPT at the end of 2022, the AI frenzy over the past three years has swept through every sector, from computing power, storage, networking, manufacturing, power infrastructure, software applications, and even to edge devices. Each direction has been repeatedly hyped. However, by the end of the third anniversary, when the pillars of AI infrastructure announced unprecedented AI mega infrastructure projects around the third-quarter reports, the market suddenly seemed to lose its soul, starting to worry that AI investments might be a bubble. Some in the industry have made a fortune, while others have lost so much that they resort to frantic fundraising. Where exactly is the problem? The financing is dazzling and bizarre, why? This article...

GraniteShares 2x Long AMD Daily ETF

Jiangsu Azure Corporation

The Original Sin of the AI Bubble: Is Nvidia the 'Golden Poison Pill' that AI Can't Quit?

Amazon to End "Shared Inventory" Model to Improve Seller Experience

Amazon US Sets Tax Information Update Deadline for Non-US Sellers

Investment expert is bullish on Amazon for 2026, seeing 30% upside potential

Market predicts Amazon will hold its Prime Day sale in mid-July 2026

Industry report analyzes the 2025 AI chip market competition, with giants like Amazon deepening their involvement

Amazon announces AWS re:Invent 2026 will take place from November 30 to December 4 in Las Vegas

AWS to host 'Best of re:Invent' virtual event to share key announcements from the 2025 conference

Net Worth Advisory Group Reduced Amazon Stock Holdings in Q3

Amazon Ads launches a test feature called "Prompts" for AI-driven ad targeting

Amazon partners with Save Mart Companies to add Amazon return kiosks in its stores

Amazon AWS to Sponsor NRF 2026: Retail's Big Show

Amazon Japan to hold 2026 New Year's first-sale promotion

Amazon is rumored to conduct a new round of layoffs on January 27, 2026

Gig workers in India to hold New Year's Eve strike, potentially impacting Amazon deliveries

Amazon's 2025 holiday season extended returns window closes January 31, 2026

Amazon officially announces details of 2026 FBA fee and selling commission adjustments

Amazon to Spend Up to $50 Billion in AI Infrastructure for US Government

Amazon Global Logistics launches 'Ship to AWD Multi-Shipment Consolidation' feature