Interactive Media and Services

Meta Platforms

Sanhua

Robot

GOOGL

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GOOG

NVDA

MSFT

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In the previous report, we reviewed Sanhua Intelligent Controls’ growth trajectory and core product lines.In this piece, we look ahead to assess Sanhua’s runway in data-center thermal management and humanoid robotics.

Alphabet

Alphabet - C

NVIDIA

Microsoft

SANHUA

Sanhua: In the AI robotics era, do cross-industry incumbents laugh last?

CoreWeave

Deep Research

NBIS

OpenAI

CRWV

NVDL

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GGLL

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MSFD

In our prior coverage of CoreWeave, the new-cloud leader, Dolphin Research summarized the cloud services biz model and the nature of factor inputs, arguing that long-term model risk is non-trivial. Long-term visibility remains low, but that does not preclude mid-term opportunities.In this note we will focus on two things. First, the company's mid-term edges and why it has emerged as the leader in today's NeoCloud landscape.Second, a deep dive into CoreWeave's capital-intensive, highly leveraged model. We will assess its steady-state margin profile and discuss the revenue scale required...

Nebius

Coreweave

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

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

GraniteShares 2x Long MSFT Daily ETF

YieldMax MSFT Option Income Strategy ETF

Direxion Daily MSFT Bear 1x Shares

CoreWeave: Cloud rising star or just a 'workhorse'?

Today’s Key News Recap

09888

89888

HBUD

BIDU

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LULU

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1230 | Dolphin Research Focus: 🐬 Macro/Sector. HK and A-share robotics stocks rallied in tandem today.The move was likely driven by two market rumors. First, the Trump administration is said to plan an executive order (EO) on robotics in 2026, which could unlock policy tailwinds.Second, supply-chain firms have recently made intensive visits to North America, and the market expects Tesla's Optimus humanoid robot program to award contracts soon. Institutions forecast phased deliveries starting in Q1 2026, covering annual capacity of 80–100k units, and related component suppliers have begun to ramp up...

BIDU-SW

BIDU-SWR

Baidu HK SDR 10to1

Baidu

CTG DUTY-FREE

Lululemon

POP MART

POP MART HK SDR 20to1

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

BIDU ADR US

Robotics rally, BIDU surges, POP MART 'stalls' again｜Daily News Recap

DXYZ

AMZN

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?

Destiny Tech100

Amazon

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

Broadcom

Financial Analysis

AVGO

BYTED

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...

ByteDance

AVGO vs. NVDA: Did the challenger blink first?

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BROS

MART

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1211 | Dolphin Research Focus: 🐬 Macro/Industry 1) The Fed cut rates by 25bps to 3.50%-3.75%, the third cut this year, in line with market expectations. It also announced $40bn of short-dated Treasury purchases over the next 30 days.Powell ruled out further hikes, saying rates are at the upper end of neutral. The message signals a shift from fighting inflation to supporting growth, even preempting a recession.🐬 Single stocks 1) $Microsoft(MSFT.US). CEO Satya Nadella made public remarks in Bengaluru, India...

Dutch Bros

Allianzim US Large Cap Buffer10 Mar ETF

Louis Vuitton

Warner Bros. Discovery

SentinelOne

Direxion Daily MSFT Bull 2X Shares

T-Rex 2X Long Microsoft Daily Target ETF

Kurv Yield Premium Strategy Microsoft MSFT ETF

Microsoft's Agent AI Debuts Friday; LVMH Greater China Head Joins Pop Mart | Daily News Recap

HOOD

ASET

TILE

1208 ｜Dolphin Research Focus: 🐬 Macro/Industry 1) The CPC Politburo met on Dec. 8 to discuss the 2026 economic agenda and reviewed the 'Regulations on the Party's Leadership over Law-Based Governance'. It set the tone for next year: fiscal policy to be more proactive, monetary policy moderately accommodative. 🐬 Single Stocks 1) $Robinhood(HOOD.US) Robinhood said in a Sunday blog post...

Robinhood

Flexshares Real Asset

Interface

Politburo sets 2026 economic agenda, HOOD pushes into SE Asia crypto | Daily News Recap

Alibaba

LEADING IDEAL

02015

HUAWEI

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BABA

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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.

LI AUTO-W

Li Auto

Huawei

BABA-W

C3.AI

BABA-WR

Direxion Daily AMZN Bull 2X Shares

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)

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?

Meta/Facebook

Appraisal value

Hot topic

00700

TCEHY

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CASH

BLUE

HTCD

These days, it's rare to see trillion-dollar giants fluctuating by 10% or 20% in a single day, but Meta is an exception. It took Meta just one quarter to fall from grace. After the Q3 earnings report, investors' panic seemed to have just been digested. Recently, with the expectation of interest rate cuts rising, $Meta Platforms(META.US) has rebounded 10% from the bottom. In terms of narrative, first, Meta has the most extensive application scenarios, and the AI investment process will be accompanied by accelerated revenue, the &#34;AI darling&#34; narrative; then came the Q3 combination of increased investment and slowed revenue growth guidance...

TENCENT

Blue Owl Capital

Tencent

Tencent Holdings Limited

TENCENT-R

Pathward Fin

Bluebird Bio

Tencent HK SDR 10to1

"AI Darling" Quickly Becomes a "Spendthrift", Can Meta Make a Comeback?

JARISLOWSKY FRASER Ltd Increased Its Holdings in Meta Platforms

Chase Coleman Sells Shares of Meta Platforms

Famous investor Michael Burry states he will not short large tech companies like Meta.

Launch of New Ray-Ban Smart Glasses Paused Overseas Due to High Demand

Meta Launches Unified 'Meta Verified' Subscription Service for Facebook and Instagram

Meta commits to clean energy procurement

EU Commission Considers Designating WhatsApp as a Large Platform

Meta Invests in Nuclear Power Plants to Support AI Development

TerraPower and Meta Agree to Develop Natrium Advanced Nuclear Power Plants in the US

Vistra Signs 20-Year Zero-Carbon Energy Purchase Agreement with Meta

Oklo Inc. Receives Meta Funding for Nuclear Project in Ohio

Meta Platforms Signs Power Purchase Agreement with Vistra

Graniteshares Meta ETF declares a weekly dividend of $0.1857 per share

Brookwood Investment Group LLC Increased Holdings of Meta Platforms, Inc. in Q3

A new analysis article compares the long-term investment potential of Alphabet and Meta Platforms.

Jefferies reiterates 'Buy' rating on Meta with a $910 price target, bullish on its 2026 AI outlook.

China's Ministry of Commerce will launch an assessment and investigation into Meta's acquisition of Manus

Prominent fund Altimeter Capital announced it has liquidated its entire stake in Meta

Investing.com's AI tool recommends Meta as a top social media stock for 2026

Meta Reality Labs Head Convenes Annual 'Most Important' Meeting

Rich Sparkle

Novabay Pharmac

Valens Semiconductor

Greenpower Motor

Alpha Tech

Offerpad Solutions

VCI Global

Tryhard

Tradr 2X Long APLD Daily ETF

ZeZentalis Pharma

Pinned News

置顶新闻

Meta collaborates with three American nuclear companies to support the operation of AI data centers

Meta Platforms (META.US) Q3 2025 Earnings Conference Call

Meta Platforms (META.US) Q2 2025 Earnings Conference Call