Li Auto releases AI glasses Livis; Micron exits retail storage business to focus on AI | Today's Important News Recap

1204 | Dolphin Research Key Focus:

🐬 Macro/Industry

1. The Beijing Consumers Association, in collaboration with eight major e-commerce platforms including JD.com, Meituan, Pinduoduo, Vipshop, Douyin, Kuaishou, Xiaohongshu, and WeChat Live, signed the nation's first "Commitment to Promote the Normative Application of AI Technology."

Addressing issues such as AI digital human live streaming and virtual scene marketing, the core measures include "transparent identification, strict review, and traceable responsibility," clearly stating that AI-generated content must be prominently marked, and cracking down on fake identification among six major initiatives. The Beijing Consumers Association will track implementation through volunteer experiences.

🐬 Individual Stocks

1.$NVIDIA(NVDA.US)

The "GAIN AI Act," aimed at restricting NVIDIA's export of advanced AI chips to markets such as China, is expected not to be included in the U.S. annual defense bill. The act requires prioritizing domestic customers and tightening export controls. NVIDIA's lobbying expenditure in the first three quarters of this year reached nearly $3.5 million (only $640,000 for the entire year of 2024), and it has gained White House support in opposing the act.

2.$Li Auto(LI.US)

Li Auto launched its first AI glasses, Livis, with a starting price of 1,999 yuan, reduced to 1,699 yuan after state subsidies. In collaboration with Zeiss, the glasses support vehicle-machine interaction, first-person perspective shooting, and AI assistant, with a response time as fast as approximately 800 milliseconds. Positioned as "wearable robots," it is a significant product in its transition to an AI technology company. By entering the consumer-grade AI wearable market with high cost-effectiveness, it strengthens the car-human-scene ecosystem loop and enhances user stickiness, but attention should be paid to the increasingly fierce competition in this field.

3.$Micron Tech(MU.US)

Micron announced its exit from Crucial consumer retail, with inventory sales until February 2026, while warranty and enterprise-level business remain unaffected. The background is the rise in memory prices (e.g., 16GB DDR5 increased from 329 yuan to 999 yuan), with HBM annual revenue around $8 billion, strategically shifting towards high-end AI data center storage. Concentrating resources on high-margin AI storage aligns with industry trends, though it may temporarily lose retail consumer mindshare.

4. Dolphin Research Focus on Earnings Reports and Conference Call Minutes

CRM: "Salesforce: AI Agent 'Delayed', Has the SaaS Leader Become a Value Stock?", "Salesforce (Minutes): The Foundation of Technology and Sales is Set, Awaiting Harvest Period"

🐬 Leading Sectors

Shanghai and Shenzhen: Semiconductor materials and equipment, semiconductor manufacturers, tobacco;

Hong Kong Stocks: Highway-freight, forest products, highway-passenger;

U.S. Stocks: Aluminum, home appliances, real estate operating companies.

🐬 Focus for Tomorrow

1. U.S. Personal Spending Monthly Rate, U.S. Core PCE Price Index Monthly Rate, U.S. Core PCE Price Index Annual Rate, U.S. One-Year Inflation Rate Expectation Preliminary Value.

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