亚洲资金看多 AI ⟪LINK24⟫
亚洲投资者极度看多 AI 和存储，对 SPE 热情不及美国 高盛销售反馈显示，美国市场重回 risk-on 模式，80% 的 gross down 已加回[1]H-Cap · 04-20"Asia sales GS: Morning, I hosted some meetings with our *US TMT Specialist Sales Peter Callahan* in HK last week and he …"
- 共识交易未退潮: 投资者害怕偏离共识：做多半导体/做空软件，做多存储/做空 OEM[1]H-Cap · 04-20"Asia sales GS: Morning, I hosted some meetings with our *US TMT Specialist Sales Peter Callahan* in HK last week and he …"
- 获利了结与加仓建议: 建议对光模块获利了结，基于估值考量加仓云网络（如 HPE 和 Arista）[1]H-Cap · 04-20"Asia sales GS: Morning, I hosted some meetings with our *US TMT Specialist Sales Peter Callahan* in HK last week and he …"
- 光模块标的分化: MS 认为 COHR 是首选，GLW 最不受青睐[2]H-Cap · 04-20"on optical, pretty boring note from MS saying COHR top pick, GLW least liked"；JPM 上周也下调了 GLW[3]Cout47 · 04-20"JPM dg GLW last week as well"
Opus 4.7 负面反馈 ⟪LINK25⟫
Opus 4.7 的负面反馈让市场重新评估传统 SaaS 的上行空间 软化了“AI 实验室将包揽一切”的立场[4]Mr. Alpha · 04-20"softening the AI labs are going to build everything stance"
- 做空 AI 生态: 有观点认为 4.7 表现糟糕，让人想做空整个 AI 生态系统[5]Bessents Burner · 04-20"Upside? lol 4.7 makes me want to short every part of the AI ecosystem it's horrible"
- 传统 SaaS 获益: 对 4.7 的负面反馈反而为传统 SaaS 带来了上行空间[6]Mr. Alpha · 04-20"sorry by upside meant upside to traditional SaaS on negative feedback on 4.7"
ZM 估值重估 ⟪LINK26⟫
扣除 Anthropic 股份后，ZM 估值仅 7x EV/FCF 如果不将其视为零增长公司，存在较大上行空间[7]RI · 04-19"ZM has a lot upside if it’s not trading as 0 growth company anymore. The multiple is like 7x EV/FCF after deducting Anth…"
- Anthropic 敞口: 有人通过持有少量 OTM 看涨期权来押注其 Anthropic 敞口[8]DP · 04-19"super interesting on ZM, is that an under-appreciated upside or well-known? i am long a tiny bit of OTM calls a anthropi…"
Atlassian 强制收集数据 ⟪LINK27⟫
Atlassian 将强制收集低配用户数据训练 AI 模型 除非购买最贵企业授权，否则无法完全退出[9]Akh · 04-19"TEAM: Unless a customer pays for the most expensive enterprise license, or the law forbids it, Atlassian is going to col…"
- 收集范围: 8月起将从 30 万客户收集元数据和应用内数据（Jira, Confluence 等）用于模型训练[9]Akh · 04-19"TEAM: Unless a customer pays for the most expensive enterprise license, or the law forbids it, Atlassian is going to col…"
- 强制条款: Free/Standard/Premium 用户无法退出元数据收集，数据将被去标识化和聚合[9]Akh · 04-19"TEAM: Unless a customer pays for the most expensive enterprise license, or the law forbids it, Atlassian is going to col…"
Palantir AI 武器宣言 ⟪LINK28⟫
Palantir 宣称 AI 威慑新时代开启，呼吁掌握 AI 武器主导权 认为对手不会停止研发，美国必须推进[10]Akh · 04-19"Palantir Manifesto: “The question is not whether A.I. weapons will be built; it is who will build them and for what purp…"
- 摒弃和平主义: 批评战后对德国和日本的“去武装化”是过度纠正，认为盲目追求包容性会掩盖部分文化的危害[10]Akh · 04-19"Palantir Manifesto: “The question is not whether A.I. weapons will be built; it is who will build them and for what purp…"