0204 | Dolphin Research Focus

🐬 Macro/Industry

1. AI start-up Anthropic launched a productivity tool for in-house counsel, integrated into its Claude suite. It automates contract review, NDA classification, brief drafting, and templated responses, and can be tailored to a firm's risk appetite. The company stressed it is an assistive tool requiring licensed attorney review.

The news sent legal software and data-service stocks tumbling, with risk-off sentiment spilling over to broader software and triggering a sell-off. The move underscores AI’s push into vertical use cases, forcing legacy vendors to accelerate AI integration and reshaping industry competition.

🐬 Stocks

1.$TENCENT(00700.HK)

WeChat flagged Yuanbao’s Lunar New Year red-packet campaign for inducement-based sharing, blocked the offending links, and disabled direct opens inside WeChat. Yuanbao quickly revised its sharing flow, rolling out a ‘password red packet’ to replace link sharing.

Previously, Yuanbao went viral with a ‘share to gain extra draws’ mechanic, but user complaints over ecosystem disruption triggered WeChat’s external-link governance. Tencent fell nearly 4% today.

2.$EASTROC(09980.HK)

Eastroc Beverage rose over 9% on its second trading day in HK. The company partnered with Indonesia’s Salim Group on a $300 mn investment to expand locally, with Eastroc holding 51%.

Leveraging Salim’s ~750k sales outlets and 23k c-stores, Eastroc aims to use Indonesia as a beachhead for SE Asia. The day-two rally signals investor endorsement of its overseas strategy, with Salim’s channels tackling localization and Indonesia’s low penetration offering sizable upside.

3.$NVIDIA(NVDA.US)

NVIDIA is nearing a $20 bn investment in OpenAI’s new funding round, which would be its largest single check. The deal would tighten their AI collaboration, aligning NVIDIA’s compute with OpenAI’s LLMs and bolstering OpenAI’s R&D funding, while reinforcing NVIDIA’s core position in the AI compute stack.

4. Earnings and calls on watch

AMD:《All talk, little bite again — when will AMD show strength?》,《AMD (Trans): Long-term view intact; MI500 to launch in 2027》

Uber reports tonight; Dolphin Research will track and publish analysis.

🐬 Top Gainers by Sector

A-shares: Tobacco; Coal & Consumable Fuels; Real Estate Services.

HK: Coal & Consumable Fuels; Oil & Gas Storage & Transport; Airlines - Passenger.

US: Copper; Silver; Tires & Rubber.

🐬 Watchlist for Tomorrow

1. Alphabet, Qualcomm, ARM, and Wolfspeed to report.

Risk disclosure and statement: Dolphin Research Disclaimer and General Disclosure