Citi released a report covering NVIDIA (NVDA.US), which will announce its January quarter (4QFY26) results on February 25. The broker's model estimated quarterly sales of USD67 billion, ahead of the market forecast of USD65.6 billion; and it expected guidance for the April quarter (next quarter) to be USD73 billion, above market expectations of USD71.6 billion.

The broker believed that most investors have already shifted their focus beyond this earnings report to the annual GTC conference in mid-March, where NVIDIA will discuss the inference roadmap using Groq's low-latency SRAM IP and provide an early outlook for AI sales in 2026/2027.

Citi slightly raised NVIDIA's EPS forecasts for FY25-27 by about 1% each year and maintained a target price of USD270, keeping a Buy rating.
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Alphabet (GOOGL.US), the parent company of Google, inked a new strategic cooperation agreement with Southeast Asia's e-commerce giant Sea (SE.US), whereby Google will develop AI tools for Sea's e-commerce and gaming products.

Pursuant to a joint statement, the two companies will explore building AI shopping prototypes on Sea's e-commerce platform Shopee. Google and Sea's gaming division Garena will also utilize AI solutions to revolutionize game development productivity.

Alibaba (BABA.US)(09988.HK) wrestles with Shopee in Southeast Asia through its e-commerce platform Lazada, having launched a new AI model, claiming it is designed for the era of agent-based AI.
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深圳2026年2月20日 /美通社/ -- 近日，晶泰科技(2228.HK)孵化企業默達生物（META Pharmaceuticals Inc.）宣佈，其針對炎症性腸病（IBD）開發的首個臨床開發候選分子（PCC）MP-5342已確定，目前正積極準備新藥臨床試驗（IND）申請，預計最早於2026年下半年啟動正式臨床試驗註冊。MP-5342是晶泰科技賦能默達生物開發的全球首款口服小分子乳酸脫氫酶（LDH）抑制劑。作為真正實現源頭創新的潛在首創新藥（First-in-class，FIC）和同類最佳（best-in-class，BIC）候選藥物，MP-5342精準靶向免疫代謝底層生物學機制，以代謝重編程來重塑免疫平衡、改變疾病進程，實現更安全高效的抗炎治療，有望填補LDH靶點治療空白。這一管線不僅可覆蓋數百億美元的首發適應症 IBD治療市場，更憑借其廣譜作用機制，具備快速拓展至多發性硬化症（MS）、特應性皮炎等高發自免適應症的巨大潛力，市場空間可躍升至千億美元級黃金賽道。

MP-5342是晶泰科技與默達生物合作研發的第二條即將進入臨床開發的首創新藥管線。這一進展再次有力驗證了晶泰科技 AI+機器人藥物研發平台在源頭創新突破、高效臨床轉化及技術可復現性方面的領先實力。憑借其獨特的平台技術優勢，晶泰科技正廣泛賦能新一代創新藥研發，系統性、規模化地為合作夥伴開發高價值管線資產，為行業創造價值。

炎症性腸病（IBD）是一種慢性、致衰性的疾病，當前尚無徹底根治方法。數據顯示，全球炎症性腸病（IBD）治療市場規模預計將從2024年的295.7億美元增至2032年的440.8億美元，年複合增長率（CAGR）為5.8％。然而現有療法普遍面臨臨床緩解率不足40%、耐藥性、顯著全身副作用及病情反覆等關鍵挑戰，存在巨大的未滿足需求。靶向抑制乳酸脫氫酶（LDH）這一新興治療策略，通過調控細胞葡萄糖代謝的關鍵酶，可有效調節T細胞和B細胞功能，有望再平衡失調的免疫系統，恢復異常免疫細胞功能，在IBD等多種自身免疫疾病中展現出廣闊的潛力。

MP-5342是晶泰科技基於其AI+機器人藥物發現平台與默達生物合作開發的口服LDH抑制劑。在藥物發現過程中，默達生物基於前沿的「免疫代謝檢查點」理論，成功識別並驗證了乳酸脫氫酶（LDH）這一關鍵靶點。晶泰科技通過先進的XFEP（自由能微擾）計算，精確評估候選分子與靶蛋白的結合強度，快速鎖定具有更高活性與更優藥物關鍵成藥性的化合物母核分子; 同時運用高通量機器人實驗平台，加速完成化合物分子的合成、測試及迭代優化，為默達生物提供多維核心技術支持，助力其快速確認MP-5342為治療IBD的臨床前候選化合物（PCC）。

臨床前研究數據充分展示了MP-5342作為潛在首創新藥與同類最佳候選藥物的優勢。臨床前動物疾病模型顯示，MP-5342 擁有超 600 倍的安全窗口，遠超行業常規安全閾值（通常為>40倍）。在首發適應症 IBD 領域6種不同機制誘導的標準藥效模型中，MP-5342 均展現出顯著藥效，及比現有標準療法更高的安全性和更低的毒副作用。通過與新型生物制劑聯用，MP-5342有望精準解決現有療法痛點，實現IBD快速炎症緩解、加速黏膜修復，並顯著降低復發風險，提供更持久的疾病緩解。同時，其口服給藥方式將大幅提升患者依從性與用藥便利性，以更低的生產成本，降低患者長期用藥的經濟負擔，對醫保體系形成積極支撐。

基於調節免疫代謝通路的治療策略，MP-5342 展現出極強的適應症擴展潛力，有望快速覆蓋由免疫與代謝系統紊亂引起的多種自免疾病高發病症，包括多發性硬化症（MS）、特應性皮炎及原發性膽管炎（PBC）等。憑借對免疫代謝這一底層病理機制的廣泛調節作用，MP-5342 有機會媲美同領域年銷售額百萬美元級別的廣譜治療藥物，直指全球超千億美元的自免賽道黃金市場。

此前，晶泰科技與默達生物合作開發了全球首創的針對原發性高草酸尿症的小分子抑制劑META-001-PH，已獲得FDA 孤兒藥資格認定（ODD）和兒童罕見病資格認定（RPDD）。作為全球領先的AI+機器人藥物研發平台，晶泰科技通過MP-5342、META-001-PH等合作研發管線接連開啟臨床轉化，持續驗證了其 AI+機器人藥物發現平台高效將前沿生物學發現轉化為獨具競爭優勢的管線資產的能力。隨著晶泰科技參與發現和優化的創新藥管線陸續進入臨床階段，公司將持續積累研發數據驅動AI算法迭代升級，賦能更多合作夥伴加速源頭創新突破，推動全球突破性療法更快惠及患者，加速兌現人工智能在生物醫藥領域的巨大社會價值與經濟潛力。

關於默達生物

默達生物（META Pharmaceuticals Inc.）是一家專注於自身免疫疾病及代謝疾病藥物研發的創新藥物公司，由AI製藥先鋒企業晶泰科技、Forcefield Ventures、IMO Ventures共同孵化，天圖資本、雅億資本、方圓資本、新產業創投、德迅投資、博普資本參與投資。默達生物基於前沿的新興生物學理論，通過調節細胞新陳代謝的活力實現對免疫系統功能及其他生理系統功能的有效調節，開發更安全有效的自免疫疾病及代謝疾病治療手段，聚焦first-in-class首創新藥的研發，為全球眾多患者提供迫切需要的藥物。

關於晶泰科技

晶泰科技（「XtalPi Holdings Limited」，股份簡稱：晶泰控股，XTALPI，股票代碼：2228.HK）由三位麻省理工學院的物理學家於 2015 年創立，是一個基於量子物理、以人工智能賦能和機器人驅動的創新型研發平台。公司採用基於量子物理的第一性原理計算、人工智能、高性能雲計算以及可擴展及標準化的機器人自動化相結合的方式，為製藥及材料科學（包括農業技術、能源及新型化學品以及化妝品）等產業的全球和國內公司提供藥物及材料科學研發解決方案及服務。

Investors kept eyes wide open on the escalating tensions between the US and Iran, leading to a lower opening in US stocks on Thursday. The DJIA closed down 267 points or 0.5%, at 49,395. The Nasdaq closed down 70 points or 0.3%, at 22,682. The S&P 500 dipped 19 points or 0.3%, to 6,861.

Walmart (WMT.US) logged a 19% decline in earnings last quarter, beating expectations, and its stock ended down 1.4%. Amazon (AMZN.US) surpassed Walmart in revenue last year to become the world's highest revenue company, and its stock remained sturdy.

After private equity and alternative asset management company Blue Owl Capital (OWL.US) announced a halt on redemptions, its stock dived 5.9%, prompting investors to sell related stocks, with Blackstone (BX.US) and Apollo Global (APO.US) both shedding 5%.

As to stocks that released results, DoorDash (DASH.US) reported miss in last quarter's earnings and current quarter's guidance, with its stock rising 1.6%. Booking Holdings (BKNG.US) exceeded expectations in both earnings and revenue last quarter, but its stock tumbled 6.2%.
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Netflix (NFLX.US) has ample cash, holding approx. US$9.03 billion in cash and cash equivalents as of the end of 2025, Reuters on Thursday quoted sources as saying. If its competitor Paramount Skydance (PSKY.US) raises its offer for Warner Bros. Discovery (WBD.US), Netflix may increase its acquisition offer.

Netflix's co-chief executive officer, Ted Sarandos, stated on Thursday that acquiring Warner Bros. Discovery would lead to more films in theaters, benefiting cinemas, as Netflix would be able to leverage Warner Bros. Discovery's established distribution network to bring its films to theaters.
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上海2026年2月17日 /美通社/ -- 2月14日至17日，拼搭角色類玩具品牌布魯可亮相2026紐約玩具展，向全球消費者展示旗下全系列產品。

展會期間，布魯可展出兩大品類——布魯可積木人(Blokees Model Kits)與布魯可積木車(Blokees Wheels)系列，共展出超過270款產品，覆蓋HERO5、HERO10、Champion、Legend、TERRAVENTURE、DaaLaMode等逾10條核心產品線。展品涵蓋變形金剛(Transformers)、新世紀福音戰士(EVANGELION)、洛克人(Mega Man)、聖鬥士星矢(Saint Seiya)、初音未來(Hatsune Miku)、侏羅紀世界(Jurassic World)等近20個國際知名IP，充分展現品牌多元化的產品矩陣。

布魯可展位迅即成為展會焦點之一，憑藉豐富產品陣容吸引各界高度關注。布魯可積木車系列的變形金剛、奧特名鑒(Ultraman)等系列人氣產品一併登場，吸引大批玩家駐足。

在積木人品類方面，布魯可主推HERO5及HERO10系列，當中包括變形金剛、聖鬥士星矢、火影忍者(Naruto)等經典IP。值得留意的是，布魯可聖鬥士星矢群星版系列04：黃道十二宮②當中的三位角色——仙女座瞬(Andromeda Shun)、天馬座星矢(Pegasus Seiya)及鳳凰座一輝(Phoenix Ikki)，更是首次公開亮相。

布魯可重點展示旗下Champion系列及Legend系列，涵蓋洛克人、聖鬥士星矢、新世紀福音戰士、火影忍者等知名IP。針對女性消費者市場，DaaLaMode系列帶來初音未來、飛天小女警(The Powerpuff Girls)等人氣IP作品。與此同時，TERRAVENTURE系列則展出以自然及生物為主題的積木人，當中包括侏羅紀世界題材，充分展現布魯可能夠照顧不同年齡層消費者的需求。

布魯可於紐約玩具展再度呈獻精彩絕倫的BFC作品，現場展出15件精選創作。當中包括一件來自美國的BFC作品，以舊化塗裝、定制披風及鎖鏈，重新演繹《變形金剛：黑月降臨》麥加登(Megatron)造型，驚豔全場。

自2024年起，布魯可持續登陸全球多個大型玩具展，充分展現品牌的產品創新實力與日益提升的國際影響力。展望未來，布魯可將繼續發揮研發優勢與創新產品體系，為全球消費者帶來更豐富的產品選擇及更優質的體驗。

SHANGHAI, Feb. 16, 2026 /PRNewswire/ -- From February 14 to 17, Assembly Character Toys brand Blokees appeared at Toy Fair New York 2026, presenting a showcase of product portfolio to global consumers.

At the exhibition, Blokees unveiled its two major categories — Blokees Model Kits and Blokees Wheels — featuring more than 270 products across over 10 core product lines, including HERO5, HERO10, Champion, Legend, TERRAVENTURE, and DaaLaMode. The display covered nearly 20 globally renowned IPs, such as Transformers, EVANGELION, Mega Man, Saint Seiya, Hatsune Miku, and Jurassic World, fully demonstrating the brand's diverse product matrix.

The Blokees booth quickly became a highlight of the show, drawing strong attention with its diverse product. Popular Blokees Wheels series, including products from Transformers and Ultraman, were showcased together, attracting large crowds of players.

In the Model Kits category, Blokees spotlighted the HERO5 and HERO10 series, featuring classic IPs such as Transformers, Saint Seiya, and Naruto. Notably, three characters from Blokees Saint Seiya Galaxy Version Series 04: Gold Zodiac ② — Andromeda Shun, Pegasus Seiya, and Phoenix Ikki — made their first public appearance.

Blokees highlighted its Champion series and Legend series, covering IPs including Mega Man, Saint Seiya, EVANGELION, and Naruto. Targeting female consumers, the DaaLaMode series presented popular IPs such as Hatsune Miku and The Powerpuff Girls. Meanwhile, the TERRAVENTURE series showcased nature and creature themed model kits featuring Jurassic World, reflecting Blokees' ability to meet the needs of consumers across all age groups.

Blokees once again presented outstanding BFC works in Toy Fair New York. Fifteen selected creations were exhibited, including a U.S.-based BFC work that reimagined Transformers: Dark of the Moon Megatron through weathered painting, a custom cloak, and chains, captivating audiences on site.

Since 2024, Blokees has continued to appear at major toy fairs worldwide, demonstrating its product innovation capabilities and growing global influence. Looking ahead, Blokees will continue to leverage its R&D strength and innovative product system to deliver more product offerings and an elevated experience to consumers worldwide.

Since Microsoft (MSFT.US) announced its 2FQ results for the period ended December 2025 at the end of last month, its share price has fallen by about 15% in total, Goldman Sachs released a research report saying.

This is believed to be due to the higher capital expenditure guidance, but management did not simultaneously raise its Azure growth forecast, sparking market question and concerns about the return on capital and competition Azure faces from peers, as well as concerns about whether the Office 365 business will be impacted by new AI competition.

However, the broker still believed that capital expenditure on internal R&D is a long-term investment, some of which is not directly monetized at present but may be monetized in the future and remains crucial to Microsoft's overall development strategy.

Currently, Goldman Sachs raised its forecast for the proportion of Microsoft's computing resources used internally from about 10% to about 20%, which is believed to drive Microsoft's multi-dimensional strategic AI positioning in the future and bring better returns in the medium term.

Therefore, the broker kept rating at Buy, with a target price of US$600.
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Tesla (TSLA.US) CEO Elon Musk responded to a post by Cathie Wood on the social platform X, stating that the Optimus humanoid robots will begin to transform things in 2027, become noticeable by 2028 and have a significant impact after 2029.

Wood had previously posted that the development of humanoid robots are 200,000 times more complex than autonomous taxis, and stated that robots could bring revolutionary changes to life as early as 2028.

The post mentioned that based on Musk's first principle's approach and dogged determination, Wood predicted that Tesla's Optimus robots will start transforming factory life in 2028 and 2029, eventually changing household life.
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Tech industry leaders, including Tesla (TSLA.US) CEO Elon Musk and Apple (AAPL.US) CEO Tim Cook, are warning of a brewing global crisis as memory chip shortages begin to impact profits and disrupt corporate planning, Bloomberg reported. This has shored up prices for a range of products from laptops and smartphones to cars and data centers, with supply tensions expected to deteriorate.

The root cause of the memory chip supply strain is the wave of construction of artificial intelligence (AI) data centers. NVIDIA (NVDA.US) AI chips require a large amount of high-bandwidth memory (HBM), squeezing the available capacity in the memory chip industry, resulting in severe shortages for traditional sectors such as mobile phones and PCs.

Even before AI magnates fully launch their massive data center construction plans, memory chip supply has been increasingly tight, with prices soaring. LENOVO GROUP (00992.HK) Chairman and CEO Yang Yuanqing had previously noted that the supply tension is expected to last at least until the end of this year, with the structural imbalance between supply and demand not being a short-term fluctuation.
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