NIO's Q3 revenue increased by 16.7% to 21.8 billion yuan, with a record high vehicle gross margin of 14.7%. Both Q4 revenue and delivery guidance reached new highs | Earnings report insightsCity-level bicycle profitability turns positive, Pony AI's Q3 revenue increases by 72% year-on-year, gross margin rises to 18.4% | Financial report insightsNIO's third-quarter revenue was 21.79 billion yuan, estimated at 22.28 billion yuanApple's sales department layoffs, significant reduction in iPhone Air productionOn November 25th, Tencent spent HKD 635.5 million to repurchase 1.014 million sharesGoogle's "full-stack" counterattack, strongly reclaiming AI dominance!ByteDance and KUAISHOU-W boost the rapid growth of comic dramas this year, leading AI monetizationThe transformation of the writer returns! "Big Short" Barry Ritholtz blasts the AI bubble: NVIDIA is the Cisco of its timeHong Kong Stock Market Closing (11.25) | Hang Seng Index rose by 0.69% AI concept stocks became active again, airline stocks continued to declineGoogle's TPU Sales Challenge Nvidia Dominance; Xiaomi Rallies on Lei Jun's Stake Boost. ｜Today's Important News ReviewAmazon internal documents exposed: strongly promoting self-developed Kiro, squeezing out external AI programming toolsA comprehensive understanding of "Google Chain": AI full-stack innovation, TPU + OCS co-creating the next generation of intelligent computing networkThe market digests interest rate cut expectations, European stocks open slightly higher, U.S. stock index futures decline, gold and silver rise, and cryptocurrencies retreatSociété Générale supports Google "outperforming the market" with strong advertising + cloud business exceeding expectations supporting valuation expansionBank of America: Amazon re:Invent 2025 conference will announce new AI moves, with the Trainium3 chip and Nova model attracting attentionPerformance hard against Blackwell, energy efficiency surpassing GPU, a deep dive into the "real combat power" of Google's TPUMorgan Stanley's Wilson: Weak employment data will force the Federal Reserve to pivot, optimistic about the recovery of small-cap stocks and the consumer sectorTencent's Mix Yuan OCR model announces open source, with parameters of only over 1 billion and multiple core capabilities achieving SOTA effects"Federal Reserve News Agency": Allies "pave the way" for interest rate cuts next month, Powell will decide between "hawkish rate cuts" or "dovish pause"As supply tightens and expectations for a Federal Reserve interest rate cut rise, London copper spot premiums hit a five-week highOpenAI's "AI hardware" is coming! Altman: More peaceful and tranquil than the iPhoneGemini 3, is it "cursed" out by Sergey Brin?JD.com Industrial IPO is imminent, and Liu Qiangdong's "Supply Chain Empire" adds another pieceElon Musk publicly challenges "the Nvidias": I will take you all on by myself!Morgan Stanley: 2/3 of large-cap stocks have nearly retraced 10%, the adjustment in US stocks is "nearing its end"Analyst: Apple's first foldable phone priced at $2399"E-commerce Agent" - The AI application with enormous commercialization potential is "emerging"Admitting that energy storage demand exceeds expectations, but Goldman Sachs still maintains a "bearish outlook" on lithium prices in the medium termTech giants are frantically issuing bonds, is OpenAI next?Understanding the Market | Gold stocks continue to rebound, Federal Reserve's December rate cut expectations fluctuate, precious metals may continue to show a volatile patternCITIC Securities: Maintains "Strong Buy" rating on Xiaomi Corporation-W as high-end and globalization continue to advanceThe "narrative shift" of American AI data centers: from the excitement of "big deals" to the "blame game" of "constant delays"San Francisco Federal Reserve President: Concerned about the difficulty in responding to a sudden deterioration in the labor market, supports the Federal Reserve's interest rate cut in DecemberGoogle's AI chip TPU reportedly acquired by Meta, Nvidia's stock price fell after hoursUnderstanding the Market | Alibaba-W rises over 3% again, latest quarterly results to be announced today, Q&A app downloads exceed 10 million in a week"Fivefold Impact" Strikes! The Logic Behind This Round of Bitcoin Plunge is Completely Different from the PastBoosted by trade and economic conditions, South Korea's consumer confidence reached an 8-year high in NovemberUnderstanding the Market | Xiaomi Corporation-W rose over 5% as founder Lei Jun invested over HKD 100 million to increase his stake by 2.6 million sharesPanic selling coming to an end? UBS: U.S. stocks have found support, looking up to 7,000 points by the end of the yearTSMC CEO: Advanced process capacity is "not enough, not enough, still not enough," current capacity is still 3 times short!The Hang Seng Index opened up 0.9%, and the Hang Seng TECH Index rose 1.43%Analysis of the Impact of Hang Seng and Stock Connect Adjustments in the Third QuarterOn time performance! "Big Short" battles NVIDIA, the "AI bubble" debate beginsHow was Gemini 3 trained without NVIDIA?SanDisk has been included in the S&P 500 index, soaring this year due to the "storage bull market.""Implicit Guarantee" but "Not Consolidated"! Can Meta's Data Center "Off-Balance Sheet Financing" Hold Up?"Powell's allies" have continuously voiced support for interest rate cuts, and market expectations for a Federal Reserve rate cut in December have surged to 80%Breakfast | Federal Reserve's December rate cut expectations heat up, three major U.S. stock indices rise for two consecutive days, with technology stocks leading the gains