Trump's trade advisor: The government may force data center builders like Meta to "internalize" costsAlibaba releases Qianwen 3.5, performance comparable to Gemini 3, Token price only 1/18 of itMorgan Stanley: AI is a capital expenditure black hole, with risks spreading to the credit marketThe Year of the Snake concludes with Hong Kong stocks rising, the non-ferrous sector surging, MINIMAX-WP skyrocketing by 24%, and KNOWLEDGE ATLAS increasing by 4.74%, both reaching new highsReturning to growth but still weak, Japan's Q4 GDP for 2025 annualized quarterly rate is 0.2%, below expectations, supported by expansionary fiscal policyHong Kong Stock Review: Hong Kong Stocks CloseBank of America Hartnett: "AI Disruptive Trading" Accelerates Spread, Once Tech Giants Cut Spending, It Will Trigger a "Rotation Tsunami" in US StocksStorage giant's quarterly report "Five Key Points": Current cycle strength surpasses the 2017-18 "cloud boom cycle"Cathay Securities: Non-farm Payrolls and CPI Tug-of-war, Dollar Slightly RetreatsOn February 16th, XIAOMI-W spent approximately HKD 54.7041 million to repurchase 1.5 million sharesReminder: Please pay close attention to the following (all times are in Beijing time)Insiders in the AI circle: Something bigger than COVID-19 is happening, and people are still unawareAt the beginning of the new year, how to view the appreciation of the RMB?Hedging mode! Morgan Stanley: The market has started buying US TreasuriesUnderstanding the market | Non-ferrous metal stocks lead the gains, JIANGXI COPPER up over 5%, SD GOLD up over 4%On the last trading day of the Year of the Snake, the Hang Seng Index opened down 0.25%, KNOWLEDGE ATLAS rose 7.6%, and MINIMAX-WP increased by 2.9%Current Status of US Stock Earnings Calls: Discussion on "AI Risks" Doubles, Companies Must "Prove Their Innocence," Investors "Sell First, Ask Questions Later"Wall Street returns to the "Golden Age": The annual salaries of the heads of the six major banks exceed 40 million, setting a new high since the 2008 crisisThe Japanese stock market frenzy cannot hide the turmoil in bonds and currencies. Is "high market trading" an opportunity or a trap?Stanford expert: The U.S. is entering the "AI harvest period," with productivity growth expected to double to 2.7% by 2025In-depth interview with the founder of Stratechery: Warning of a "chip shortage" in 2029, the SaaS model will come to an end, and advertising is the ultimate business loop for AIThe last time the argument of "software is doomed" occurred was 10 years ago. What happened afterward?Sheng Songcheng: Lowering the reserve requirement ratio is better than lowering interest rates, and monetary policy should adopt a "small step" approach"SaaS is dead, SaaS is here"! Altman predicts the era of "all AI companies" has begunAfter the earnings report, the market value of the four major cloud providers in the U.S. evaporated by $1 trillion, and the market is even seeking to hedge against "big company risks."$60 per thousand impressions! OpenAI opens the curtain on "AI advertising" with high pricesSpring Festival Week Heavy Preview: The Federal Reserve's Favorite Inflation Indicator, DeepSeek V4 May Be ReleasedEven if investors crash the stock price, the 200 billion dollars must be "burned," Amazon needs to "reorganize its flag"GUOSHENG SECURITIES: The game of growth resilience and inflation stickiness continues; after May, the Federal Reserve's policy space may see a turning pointThe market narrative battle affecting trillions of capital: on one side is "AI disrupts everything," and on the other side is "AI returns are not sufficient."CITIC Securities: The U.S. shifts to "re-inflation," focusing on the interconnection of major asset classes under the global liquidity "tide."Meta plans to add facial recognition features to smart glassesBold predictions from Wall Street: To hedge against the labor shortage, Waller may tolerate inflation of 2.5%-3.5%!What has happened in the Japanese market recently?China Merchants Securities: U.S. core inflation is stubborn, doubts remain about energy downturn, and the timing of interest rate cuts is still a mysteryMercedes-Benz China changes leadership, bidding farewell to the "Duan Jianjun era"Is the U.S. considering lowering steel and aluminum tariffs? What does this mean for metals?The State Administration for Market Regulation interviewed platform companies such as Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao Flash SaleQunhe Technology has obtained overseas filing, and the first listed company among the "Six Little Dragons of Hangzhou" is approachingThis week, the wolf of "AI disrupts everything" has finally arrivedAnthropic's leader in a major interview: AI is at the tail end of exponential growth, and in 2026, we will welcome the "genius nation in data centers," with revenue skyrocketing at a speed of 10 timesHow to understand the global market at the beginning of the year? "Affordability" is the overarching narrative for 2026: "Main Street" needs to win once, the AI narrative is undergoing a major change, and the yen is the "key."The father of OpenClaw reveals shocking news: Meta and OpenAI are desperately trying to poach talent, with Zuckerberg personally seeking an acquisition"We are witnessing a wave of AI creative destruction sweeping across various industries globally"! Goldman Sachs partner: Essentially, this is a "moat check."New "Subprime Crisis"? The "Software Industry Loan Exposure" of US PE is Larger than ReportedEnergy, essential consumer goods, and U.S. Treasuries lead the way in 2026! Wall Street's "AI trading" has been "disrupted" by AI"Deposit migration" accelerates - The difference between the growth rate of household deposits and M2 growth rate turns negative for the first time in 7 and a half yearsAfter Microsoft, Amazon becomes the second of the "Seven Giants" to fall into a bear market, the next one may be this company