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2026-10-02
15:02
CLSA Notes SpaceX Certification of Entry Into Super Intelligence Era, Reiterates Outperform Rating

SpaceX (SPCX.US) and NVIDIA (NVDA.US) jointly validated that AI has entered the era of Super Intelligence (SI), CLSA said in a research report, reiterating its Outperform rating on SpaceX with a target price of USD250.

The broker said discussions between Elon Musk and Jensen Huang at activities related to the US government were highly consistent with its initiation report on SpaceX and its 2024 views on the nuclear power industry.

Musk mentioned that China's power generation output is about three times that of the US, and stressed the need to ensure that the US has sufficient manufacturing capacity for logic and memory chips.

CLSA described SpaceX as the world's most technologically advanced enterprise group, possessing leading capabilities and market share across various sectors.
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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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12:27
Citi: Impact of Open-Source Weight Models on Frontier Revenue Passes Local Peak as Capability Gap Widens Again

The impact of AI open-source weight models on frontier model revenue has passed a local peak, as the capability gap has widened again and usage economics are increasingly favoring the model portfolios of frontier laboratories, Citi said in a research report. Although open-source models once markedly narrowed the gap with proprietary frontier models, much of the narrowing occurred when regulatory concerns constrained the release of advanced models, while open-source developers benefited from distillation and advanced overseas computing power. As mentioned by Poolside Co-CEO Jason Warner, in the long run, the value of open-source models lies more in the control brought by customization, deployment flexibility and intellectual property protection than in pure cost advantages.

Citi cited the latest weekly data that the highest Artificial Analysis Intelligence Index score for proprietary models rose from 53 to 58, while the highest score for open-source models increased from 44 to 46, widening the gap from 9 points to 12 points. Public benchmarks may still overestimate the degree of parity between the two, while private evaluations show that leading open-source systems lag further behind in long-horizon cybersecurity tasks and production reliability. Anthropic's Opus 5.5 improved the AA intelligence frontier by 9%, while reducing costs by 40% versus Opus 5 under typical workloads. Subsequently released Grok and Gemini models also improved intelligence while maintaining broadly stable token pricing, highlighting ongoing improvements in model efficiency.

The broker expected enterprises to adopt hybrid model portfolios as a de-risking mechanism, while AI laboratories are likely to increasingly embed routing, orchestration, governance and security capabilities into the model layer, making users specify individual models only in rare or highly specific scenarios. Differences in token efficiency and accuracy imply that workload-based routing is often more economical than uniformly adopting either open-source or closed deployments. NVIDIA Corporation (NVDA.US) acquired Hugging Face for USD12.9 billion and reached a USD6 billion licensing agreement with Poolside, enabling it to strengthen its open-source weight strategy spanning hardware, inference software, CUDA and Nemotron through model discovery, collaboration, deployment platforms and open-source weight development capabilities, making it one of the major beneficiaries of improvements and adoption in the open-source ecosystem.
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08:58
OpenAI Dismisses 3 Researchers Over Alleged Disclosure of Confidential Info to Third-Party AI Safety Organization

OpenAI said it dismissed three researchers for allegedly improperly handling "sensitive information" and violating company policies. The incident also involved an external individual responsible for evaluating AI models.

At least two of the dismissed employees were reportedly engaged in AI Safety and Alignment research, which refers to ensuring that AI behavior and objectives remain aligned with human values, intentions and ethical standards.

The dismissals come amid intense public debate over AI safety issues and whether related technologies could pose an existential threat to humanity.

According to The Wall Street Journal, the three dismissed researchers were Jasmine Wang, Tomek Korbak and Mikita Balesni. They were accused of disclosing confidential company information to a third-party AI safety organization, while also frequently posting about AI safety topics on the X platform in recent months.
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2026-09-30
16:09
CLSA: Global Humanoid Robotics Industry Investment Focus Shifts to Commercialization and Identifying Winners

During IF26, investor interest in the global humanoid robotics industry remained strong, but discussions have clearly shifted from understanding the technology/industry to evaluating commercialization, value capture and investment opportunities, CLSA said in a research report. The broker maintained a highly constructive view on the long-term prospects of the humanoid robotics industry.

Investors are increasingly focused on identifying potential winners, assessing supply chain beneficiaries, and monitoring key catalysts such as the roadmap for Tesla, Inc. (TSLA.US) Optimus Gen3 and the industry's move toward mass production. Discussions are also placing greater emphasis on the commercialization timelines, production capacity ramp-up, and real-world deployment cases of leading US and Chinese developers, rather than debating whether the technology itself is feasible.

The broker said market expectations for catalysts are broadly in line with its views, including the listing of YUSHU TECHNOLOGY (688836.SH), the Tesla's Optimus Gen3 roadmap, and future funding rounds for leading private developers. More importantly, the transition from pilot deployments to mass production over the next 3-18 months may be the most important catalyst for boosting market confidence in commercialization.
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15:49
CLSA: Meager CN Auto Domestic Sales, Intense Competition Drive Exports; Top Global Auto Picks Nissan, Suzuki, General Motors

Chinese automakers are ambitiously expanding exports amid meager domestic sales and competition from more than 100 domestic rivals, CLSA said in a research report. At the CITIC investor forum, CLSA met with investors and mainly discussed how Japanese automakers can respond to Chinese competition outside China, the acceptance of Chinese imported vehicles across different countries, and how automakers operate under low-growth industry conditions and geopolitical pressure.

The broker noted that markets most vulnerable to penetration by Chinese automakers are countries without domestic automobile industries, such as Australia and Singapore, where Chinese automakers already have relatively high market share. This is followed by markets with domestic automobile industries, such as the US, the European Union and India, which have established high tariff barriers, while the EU Industrial Acceleration Act also poses risks.

CLSA's top picks in the global auto sector are Nissan Motor (7201.JP), Suzuki (7269.JP) and General Motors Company (GM.US). Nissan was rated High Conviction Outperform with a TP of JPY600, supported by cost reductions, attractive hybrid model launches and higher utilization at US plants. Suzuki was rated Outperform with a TP of JPY2,300, as the broker believed high growth in its India business could drive earnings above expectations.

General Motors Company (GM.US) was rated Outperform with a TP of USD105, with nearshoring production and new growth businesses expected to support re-rating. The broker rated Tesla, Inc. (TSLA.US) Underperform with a TP of USD320, while Toyota (7203.JP) was rated Outperform with a TP of JPY3,700.
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15:46
AMD CEO to Visit S Korea Next Mth, Meet Executives of Samsung Electronics and Other Firms

Advanced Micro Devices, Inc. (AMD.US) CEO Lisa Su is expected to visit South Korea next month to meet with executives of South Korean semiconductor companies and government officials, South Korean media reported.

This will mark Lisa Su's second visit to S Korea in about seven months following her trip in March this year. She is considering attending a conference in Seoul on October 8, where participants are expected to include CEOs of major South Korean AI semiconductor companies.

She may also meet with South Korean Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon during the event.

The report added that Su is also arranging meetings with executives of major South Korean companies, including Samsung Electronics.
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15:00
BofAS Says Meta (META.US) Launches Enterprise AI Platform, Maintains Buy Rating

Meta Platforms, Inc. (META.US) announced the establishment of Meta Enterprise Platform, a new business unit focused on bringing the company's AI capabilities to enterprise clients and developers, BofA Securities said in a report. CEO Mark Zuckerberg described this as the next major pillar of Meta's business. The broker maintained its Buy rating and USD810 TP on Meta.

The broker noted that the initial products include Muse agent, Meta Business Agent, Muse API and Muse Code. The company also hired MongoDB CEO Chirantan CJ Desai as Chief Enterprise Platform Officer, and the broker expects him to focus on driving product sales.

The new platform is not entirely unexpected, said the broker. Meta's launch of enterprise AI solutions could generate more sustainable monetization revenue that is less affected by macro conditions. The enterprise AI solutions market is expected to exceed USD1 trillion by 2028, while Meta's consumer data and communication applications may help it sell AI products to consumer-oriented enterprises.
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14:24
中國移動香港「全球通優越會」榮膺「宏利保險隆重呈獻About Life 劉德華巡迴演唱會--香港站」官方指定電訊商

特別推出演唱會門票禮遇 所享非凡全球通迎新賞

香港2026年9月30日 /美通社/ -- 中國移動香港有限公司(下稱「中國移動香港」)欣然宣佈,旗下尊尚品牌「全球通優越會」(GoTone Privilege Club)榮膺「宏利保險隆重呈獻About Life 劉德華巡迴演唱會—香港站」官方指定電訊商,並於即日起推出「全球通迎新賞」*,新客戶及現有客戶均有機會獲贈演唱會門票。演唱會將於2026年12月18日起在紅磡香港體育館舉行,讓客戶與摯愛親友一同感受劉德華的舞台魅力,在動人歌聲中共度精彩跨年時光。

中國移動香港「全球通優越會」特別推出演唱會門票禮遇
中國移動香港「全球通優越會」特別推出演唱會門票禮遇

尊享禮遇連繫文化生活 與會員共赴音樂盛宴
「全球通優越會」致力以多元化尊享禮遇,打造融合文化、科技與生活方式的尊尚服務平台,讓會員「所行無界,所享非凡」。繼今年三月攜手巴塞爾藝術展香港展會(Art Basel Hong Kong),呈獻數碼藝術項目「Zero 10」亞洲首展後,今次再透過「宏利保險隆重呈獻About Life 劉德華巡迴演唱會—香港站」,將尊尚體驗由通訊服務延伸至娛樂生活,為會員締造難忘回憶。

全球通迎新賞 新客戶尊享雙人演唱會門票
即日起至2026年12月4日,新客戶上台選用指定「5.5G全球通Privilege服務計劃」,並簽訂36個月合約,即可透過「全球通迎新賞」獲贈演唱會連位門票兩張。選用月費HK$599計劃,可獲贈兩張各面值HK$980的連位門票;選用月費HK$899或HK$1,299計劃,則可獲贈兩張各面值HK$1,380的連位門票。

參加上述優惠的客戶須預繳HK$4,000,並於2026年12月4日晚上11時59分前啟動相關服務。門票領取安排將於2026年11月中旬起,陸續透過發送的短訊及電郵通知。優惠名額有限,先到先得,送完即止。

除了演唱會門票外,隨服務計劃更免費尊享36個月鑽石會籍,總價值達HK$23,400。會籍包括本地指定私人會所、米芝蓮星級饗宴、世界級表演及機場貴賓室等禮遇。「全球通優越會」持續豐富會員的生活體驗,並正精心籌備更多專屬驚喜活動,為客戶提供更多親臨現場欣賞「宏利保險隆重呈獻About Life 劉德華巡迴演唱會—香港站」的機會。有關詳情,敬請留意中國移動香港官方網頁及社交平台公佈。

如欲了解詳情,請瀏覽:https://www.hk.chinamobile.com/tc/home/andy-lau-2026

*優惠受相關條款及細則約束。
 

— 完 —

關於中國移動香港有限公司 
中國移動香港有限公司(簡稱「中國移動香港」)隸屬中國移動有限公司(簡稱「中國移動」),《財富》雜誌「全球500強」企業,香港聯交所股份代號:941;於1997年1月正式提供服務,成為全港首個PCS流動網絡商。

作為全球最多客戶流動網絡品牌*,公司為客戶提供創新及多元化的5G通訊服務,包括話音、數據、IDD及國際漫遊等,並一直致力發展5G與人工智慧、物聯網、雲端計算、大數據等新技術結合,幫助各行各業實現5G的應用,推動大灣區智慧城市群建設與發展。

*中國移動香港有限公司為中國移動有限公司全資附屬公司。截至2025年12月31日,中國移動有限公司在全球擁有最多流動網絡客戶。

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11:48
Counterpoint Forecasts iPhone Duo Sales at 6M Units This Yr

Counterpoint Research estimated Apple (AAPL.US) iPhone Duo sales to reach around 6 million units this year, close to the level of the niche foldable smartphone market in general. Final sales will hinge on Apple's progress in ramping up production capacity.

Market research firm IDC estimated that after the launch of the iPhone Duo, overall foldable smartphone shipments this year will hike 13% YoY to 22.9 million units.

Counterpoint said Apple's iPhone 18 Pro series launched this month manifested a strong start in the China market, with sales hiking 12% compared with the initial sales of the iPhone 17 Pro series.
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AASTOCKS Financial News
Website: www.aastocks.com

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10:57
NVIDIA Reportedly Discusses Risk-Sharing Structure for Chip-Backed Loans With Insurers

NVIDIA Corporation (NVDA.US) entered talks with insurers to discuss sharing the risks of loans backed by its chips as collateral, Financial Times, citing sources, reported. Nvidia proposed various structural arrangements to insurers to transfer part of the risk of capital-intensive semiconductor financing to insurers and other investors.

One of the proposed structures would provide insurance for loans extended to emerging cloud computing companies, sources divulged. If these companies default and the resale value of NVIDIA chips pledged as collateral is insufficient to repay lenders, the insurance would provide compensation.

Nvidia's approach shows the company is leveraging Wall Street, private capital and the insurance industry to explore different financing structures to help broaden the customer base purchasing its chips.

Nvidia CEO Jensen Huang previously said chips should be viewed as an "investable asset class" similar to other expensive and durable technology equipment such as aircraft, which support sophisticated financial structures that transfer risks and costs between users and investors.
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