Stock Market:
- A-shares opened low but went higher, with the Shanghai Composite Index and Shenzhen Component Index turning positive, and the ChiNext Index making smaller gains. In terms of sectors, CPO, computing power, Nvidia, 6G, state-owned cloud, and liquid cooling servers led the gains, while the banking sector saw the largest declines.
- Nvidia's performance exceeded expectations, leading to a significant rise in chip stocks. The surge in Japanese chip stocks helped the Nikkei 225 Index break through its historical highest closing price during the session.
- In the US stock market, the minutes from the Fed's end-of-January meeting revealed officials' concerns about cutting interest rates too quickly and inflation stalling. However, Nvidia's earnings, which surpassed expectations, offset some of the market's concerns after hours.
Technology:
- Google released the world's most powerful open source large model, Gemma, outperforming Llama 2 13B. Gemma was heavily open-sourced in two sizes, 2B and 7B, and utilizes the same research and technology as Gemini.
- In the Chinese market, Chinese concept stocks rebounded, with the offshore yuan breaking past 7.19 during the session. The Shanghai Composite Index saw significant gains, and northbound funds recorded a net inflow, reaching a new high for 2023.
- In the fourth quarter of 2023, Huawei surpassed Apple to become the number one in tablet shipments in China, and it is expected to continue leading in smartphone sales into 2024.
- Nvidia, a tech giant in the US, announced a comprehensive earnings report that beat expectations, showing strong market demand for artificial intelligence, leading to a significant rise in its stock price after hours.
Investment:
- The investment craze for AI concepts continues to ferment, with related concept stocks becoming the leaders of the "good start" market in the Year of the Dragon. Public funds are grouping together to hold AI-related stocks.
- Deutsche Bank analysts pointed out that the concentration of the US stock market has reached a historical high. Goldman Sachs warned of the potential risk of a "violent sell-off" in the market.
Policy and Industry Dynamics:
- The Japanese government plans to increase domestic chip sales to over 15 trillion yen by 2030, initiating the Rapidus project, with plans to mass-produce the most advanced 2nm chips by 2027.
