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2026-08-25 全球资产日报

• 数据时间：2026-08-25 11:09:17 Asia/Shanghai
• 报告类型：全球资产日报

重要新闻摘要

• 美国财政部把潜在对伊二级制裁范围扩展至数字资产、技术、黄金、航空和航运，并暂停部分对伊汇款通用许可证。Kpler 初步数据称，周一仅一艘大宗商品船通过霍尔木兹，周日为六艘；关闭应答器会造成漏计。Reuters 同期记录 Brent、WTI 约为 92.08、85.09 美元，隔夜均跌逾 2%，说明执行风险上升但油价尚未确认供给冲击单向升级。制裁范围、霍尔木兹通航、油价与亚洲市场

• 半导体去风险已跨时区确认：美国常规盘道指涨 0.26%，标普 500 跌 0.28%，纳指跌 0.76%，英伟达连续第七个交易日下跌；亚洲后续交易中 KOSPI 盘中跌 4%，三星电子跌 4%、SK 海力士跌 6%。道指上涨表明这还不是全面流动性冲击，NVDA 与 MRVL 财报将决定压力是否继续扩散。美股收盘、NVDA 连跌、韩国半导体

• AI 扩张开始兑现资本结构与成本代价。NBIS 完成 57.5 亿美元可转债发行，并以约 1580 万股交换合计 8 亿美元旧债；阿里巴巴拟发行约 102 亿美元新股投向芯片、云基础设施、大模型和应用；媒体称部分下一代英伟达服务器可能提价超过 15%。融资仍支持算力扩张，但稀释、利息和客户部署回报需要分别验证。NBIS 交割公告、阿里 AI 融资、NVDA 服务器定价报道

• 利率市场仍在计入进一步收紧：金十转述 CME 定价，9 月加息 25bp 的概率为 41.4%，10 月累计加息 25bp 或以上的概率为 57%。Benzinga 援引 BNP Paribas 数据称，AI 公司年内发债约 2200 亿美元；这一估算的公司范围与统计口径未完整披露。加息概率、AI 融资供给与财政部扩大长期债回购共同决定高久期资产的资本成本。CME 利率定价、AI 债务供给

观点

• 盘面：市场环境门为 ready。OEF 官方 S&P 100 股票成分覆盖 100/101，MA20、MA50、MA200 上方比例为 58%、60%、75%；VIX 15.97 低于 VIX3M 18.56。中长期广度尚可，短线半导体与大型科技正在独立降风险。
• 确认：RSP 相对 SPY 的 20 日、60 日、120 日收益差为 -0.16、+5.39、-2.40 个百分点，短中长期并不一致；美股完成收盘与韩国半导体盘中续跌同向，足以冻结新增高贝塔，但不足以把整个市场定性为失控。
• 组合：已隐藏股票主线很小，当前组合约束来自 ETH/WETH 与期货叠加、Crypto 路径风险，以及股票和 Crypto 对长久期流动性因子的共同暴露。

股票强弱与技术

推荐强度表示本期风险收益与复核顺序，研究优先级 A/B 只表示下一步研究顺序。Scanner 仅完成 6/12 个通道，没有任何未持仓公司同时通过经营暴露与 canonical 技术双门，因此本表只有全部 11 个持仓股票。

标的	身份	研究优先级	方向	推荐强度	技术结构	最近均线压力/支撑	关键支撑	关键压力/确认	触发	失效
MRVL	持仓	—	中性偏多	中	回踩	下方 MA10 227.85；上方 MA5 234.12	227.85；226.16；222.81	230.10；234.12；238.78	收复 1H 228.38、4H 230.22，再以日线 234.12 确认	收盘跌破 226.16，再失守 227.85 或 222.81
GFS	持仓	—	偏空	弱	失效观察	上方 MA5 47.96；低于全部可用日线均线	45.56；45.46；45.00	46.39；46.55；47.96	45.56 附近止跌并连续收复 46.00、46.55	跌破 45.46/45.56，弱势向 45.00 延续
APLD	持仓	—	偏空	弱	失效观察	上方 MA5 27.90；低于全部可用日线均线	26.64；26.13；24.96	26.95；27.93；28.58	守住 26.64并收复 26.95，再观察 27.93	跌破 26.13 或日线 26.06，弱势向 24.96 扩展
USAR	持仓	—	中性	中	分歧	下方 MA5 18.25；上方 MA10 18.65	18.25；18.24；17.99	18.42；18.65；19.32	守住 18.24/17.99并收复 18.42，再观察 18.65	跌破 18.24/18.25，随后失守 17.95/17.99
PSI	持仓	—	偏空	弱	失效观察	上方 MA120 136.71；低于其余可用日线均线	133.77；131.09；125.21	135.24；136.71；136.83	守住 133.77/131.09并收复 135.24	跌破 131.09，随后向 125.21 延伸
COHR	持仓	—	偏空	弱	失效观察	上方 MA5 289.79；低于全部可用日线均线	263.47；255.14；225.49	277.54；289.79；301.33	守住 263.47、收复 277.54，再观察 289.79	跌破 263.47，随后向 255.14 延伸
CRCL	持仓	—	中性偏多	中	压力测试	下方 MA5 81.94；上方 MA120 90.36	87.25；87.47；81.94	88.43；90.36；92.31	守住 87.25/87.47并突破 88.45，再观察 90.36	跌破 87.25，进一步失守 85.90
GOOG	持仓	—	中性	中	分歧	下方 MA10 342.18；上方 MA120 344.60	342.63；341.65；338.16	347.04；347.40；353.25	守住 342.38/342.63并突破 347.04	跌破 341.65/342.38，进一步失守 338.16
NBIS	持仓	—	中性	中	回踩	下方 MA30 208.33；上方 MA20 214.63	209.02；208.33；200.30	211.83；212.04；214.63	守住 208.33/209.02并突破 212.04	跌破 208.33，随后失守 203.80/200.30
PLTR	持仓	—	偏多	强	回踩	下方 MA5 175.30；高于全部可用日线均线	175.06；174.51；171.79	175.76；177.50；179.89	守住 174.51/175.06并突破 176.70	跌破 174.51，再失守 171.79/169.80
XLV	持仓	—	偏多	强	压力测试	下方 MA5 173.42；高于全部可用日线均线	173.42；173.73；172.51	174.67；176.05；176.30	守住 173.42/173.73并突破 176.05/176.30	跌破 173.42，随后失守 172.51

市场没有全面转弱，先冻结新增高贝塔

58%/60%/75% 的 S&P 100 广度和正常的 VIX 期限结构说明市场仍有承接；RSP 的 60 日相对优势又说明中期扩散没有消失。短线反证来自科技权重、存储和半导体，而非所有行业。当前保持股票总仓，不做指数级清仓，也不因为道指单独上涨重新增加风险。

把市场级降风险门槛设为两项同时发生：OEF 的 MA20 与 MA50 广度均跌破 50%，VIX/VIX3M 升至 1 以上。届时把单名减仓升级为主题簇减仓，并继续把 Crypto 期货名义限制在总净值 15% 以内。若半导体财报后修复、SMH/SOXX 的 20 日与 60 日相对收益重新转正，上述组合级门槛解除。

AI 需求未证伪，融资与低周期结构要求停止补仓

NBIS 可转债交割、阿里股权融资和英伟达服务器提价报道强化了“资本效率决定每股价值”的判断，没有证明 AI 终端需求失败。股票主线占总净值很小，价格下跌和分区内部集中不能单独触发统一减仓；财报前的当前动作是停止补仓，保留能由公司经营事实验证的 thesis 仓。

MRVL 持有到 8 月 27 日财报，不在事件前加仓；跌破 226.16 后再失守 222.81 时减半。GFS、APLD、COHR、PSI 分别跌破 45.46、26.06、263.47、131.09 时，各减 25%；只有分别收复 47.96、27.90、289.79、136.83 才取消减仓触发。NBIS 维持小仓，跌破 208.33 减 25%，进一步失守 200.30 再减半；日线收复 214.63且融资供给被市场吸收后才重开增加风险评估。

CRCL、GOOG、PLTR、XLV 保留。XLV 的中期相对强度和不同现金流来源继续承担分散；CRCL 的 USDC 流通量支持仍会受到收益率下降和分销成本抵消，暂不追涨。每个风险单位在执行前标记为 1H/4H tactical 或 1D/公司证明节点 thesis，第三次同方向试错前必须重新回到 4H 承接判断。

对伊制裁强化能源尾部，现实资产内部不做同向处理

能源与油气勘探生产维持 B 级板块研究：XLE 相对 SPY 的 20 日、60 日收益差约为 +4.84、+9.64 个百分点，XOP 为 +6.85、+11.72 个百分点。等权能源的 20 日、60 日差仍落后市值权，制裁与船流也没有形成公司利润增量证据，因此不建立新的油气事件仓。正式制裁开始影响实现价、产量或现金流，且等权能源相对收益转正后，再启动公司级研究。

黄金、白银在报告截止前分别日内跌近 0.7%、2%，与航运风险上升方向相反；这使贵金属、能源和关键矿物不能被写成同一笔防御交易。黄金回落、白银回落 USAR 继续作为小比例事件仓，8 月 28 日特别会议、收购交割和银行承诺转为可用资金是下一组证明条件；跌破 17.95 减半，交割确认且日线越过 19.32 后才重评增加。

Crypto 反弹不改变期货名义边界

BTC、ETH、SOL 永续约为 80846.60、2511.64、101.44 USDT，24 小时分别上涨 4.67%、3.15%、7.88%，Funding 均为 0.0001。价格强势与正 Funding 同时存在，支持维持底层和现有期货名义，但不支持追增。Binance 是单一交易所口径，当日 ETF/ETP 流量和跨场所基差缺失。

已隐藏当前保证金、清算、场所和 DeFi 退出事实没有恶化，维持 BTCUSDT、ETHUSDT 名义且不新增；未实现盈亏与技术九转不单独触发减仓。BTC 的 79921/78670、ETH 的 2487/2453 只作为价格预警：只有两者在 24 小时内共同失守，且 available balance / margin balance 降至 50% 以下，才把期货合计名义降至不高于总净值 15%，优先减 ETHUSDT。交易场所、提款、稳定币或协议退出出现异常时，不等待价格门槛。

SOL Earn 维持，禁止转成期货杠杆。DeFi 采集没有协议、赎回或退出异常，本期不生成链上退出动作；100.54/100.62、97.84 与日线 96.68 仅作为风险复核位。

全市场机会只保留板块研究，不下钻未持仓公司

机会支持把能源与油气、数字支付与合规稳定币基础设施列为 B 级板块研究；医疗与生物科技扩散、黄金铜矿、AI 半导体分化为 C 级。CRCL 和 XLV 已是直接持仓，板块评级不增加新的 ticker 分散度。

Scanner 有 16 个去重候选，但 12 条有界通道只完成 6 条，且公司经营暴露证明与同日期 canonical 技术双门均未通过。MU、NVDA、INTC、SNDK、BABA 等全部保留在发现池，未持仓 A/B 公司候选为零。修复 history plan、完成至少 10 条扫描并补齐公司级订单、收入、利润率或资本开支事实之前，不把任何名称加入买入或技术表。

组合事实概览

展开市场热力、期权压力和 Crypto 盘口

股票与 ETF 板块热力

云计算及平台

GOOG+0.76%

较前交易日5D +0.92%Put/Call 0.49

芯片设计与制造

GFS-4.25%

较前交易日5D -14.02%Put/Call 0.12

MRVL-2.76%

较前交易日5D -2.15%Put/Call 0.56 · 大单 3

NVDA-2.52%

较前交易日5D -7.35%Put/Call 0.41 · 大单 28

数据中心及算力基础设施

NBIS-3.14%

较前交易日5D -21.55%Put/Call 0.62 · 大单 3

APLD-0.51%

较前交易日5D -13.76%Put/Call 0.57

光通信及互连

COHR-4.58%

较前交易日5D -21.56%Put/Call 1.09 · 大单 2

关键矿物

USAR-5.09%

较前交易日5D -5.18%Put/Call 0.34

数字资产基础设施

CRCL+1.84%

较前交易日5D +17.60%Put/Call 0.75

半导体与存储 ETF

SOXL-6.79%

较前交易日5D -26.64%Put/Call 0.99 · 大单 2

DRAM-6.02%

较前交易日5D -10.12%Put/Call 0.44 · 大单 3

KMEM-5.88%

较前交易日5D -9.19%Put/Call N/A

PSI-3.49%

较前交易日5D -14.83%Put/Call 0.31

FTXL-2.95%

较前交易日5D -9.98%Put/Call 0.27

其他股票

PLTR-2.63%

较前交易日5D +1.94%Put/Call 0.88 · 大单 7

XLV+0.01%

较前交易日5D +4.58%Put/Call 0.40 · 大单 2

期权压力

NVDA0.41

Put/Call VolOI 0.81Yahoo IV 54.04% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 212.50 · 大单 28

QQQ0.81

Put/Call VolOI 1.16Yahoo IV 18.87% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 715.00 · 大单 17

PLTR0.88

Put/Call VolOI 1.11Yahoo IV 49.62% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 167.50 · 大单 7

SPCX0.63

Put/Call VolOI 1.36Yahoo IV 59.25% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 130.00 · 大单 5

SPY1.17

Put/Call VolOI 6.97Yahoo IV 12.05% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 766.00 · 大单 4

MSFT0.75

Put/Call VolOI 0.53Yahoo IV 28.33% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 475.00 · 大单 3

NBIS0.62

Put/Call VolOI 1.31Yahoo IV 95.53% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 235.00 · 大单 3

MRVL0.56

Put/Call VolOI 1.12Yahoo IV 97.16% · IBKR IV N/A · Skew 0.00 vol @ N/A · Max Pain 215.00 · 大单 3

快照对比基准：2026-08-24。本面板只展示已落盘事实，不生成操作判断。

重要文章与快讯

重要文章

重要性	中文标题	发布日期	来源	相关标的	评级理由
5/5 高	亚洲科技股等待英伟达业绩	2026-08-25	Reuters	CL=F, NVDA	路透社提供了当日亚洲股市、油价和英伟达财报预期的同步事实，直接关联NVDA及跨资产风险定价；关键制裁、财报和利率事件尚未落地。
5/5 高	Nebius完成57.5亿美元发债	2026-08-24	Business Wire	NBIS	公告直接确认NBIS大额融资、票据结构、旧债换股和人工智能云资金用途，对资本结构与潜在股本供给的事实价值高；来源为公司付费新闻稿，未来经营效果尚未验证。
5/5 高	英伟达人工智能服务器拟涨价	2026-08-24	GuruFocus.com	GOOG, MSFT, NVDA, ORCL	文章发布时间紧邻英伟达08/26财报，直接关联NVDA定价权、内存成本、客户需求和毛利率，且包含多项高金额经营数据；关键涨价消息仍来自媒体转引。
5/5 高	人工智能发债挤压国债资金	2026-08-24	Benzinga Prediction Markets	BNP.PA, PLTR	文章同时覆盖人工智能融资、长期美债收益率、财政部回购和PLTR融资环境，时间接近当日市场，数字事实集中；因果解释和预测概率存在来源与方法限制。
4/5 中高	阿里巴巴转向全栈人工智能	2026-08-25	TheStreet	AMZN, BABA, GOOG, MSFT	发布时间接近当日，直接涉及BABA的大额融资、股本稀释和人工智能资本开支，兼具公司与行业信息；部分回报判断依赖管理层预期及媒体转引。

打开原文

亚洲科技股等待英伟达业绩

重要性5/5 高

路透社提供了当日亚洲股市、油价和英伟达财报预期的同步事实，直接关联NVDA及跨资产风险定价；关键制裁、财报和利率事件尚未落地。

标签

标的：`NVDA`来源：Reuters发布日期：2026-08-25重要性：5/5 高评级理由：路透社提供了当日亚洲股市、油价和英伟达财报预期的同步事实，直接关联NVDA及跨资产风险定价；关键制裁、财报和利率事件尚未落地。评级依据：当日市场时效性高, 直接标的相关度高, 路透社来源质量高, 涵盖股市、油价、利率和地缘事实原文字数：659

中文摘要

核心结论

路透社报道显示，亚洲股市因科技板块等待英伟达业绩而走弱，油价则在美国对伊朗发出二级制裁警告但暂未实施处罚后延续跌势。市场同时关注美国国债回购、美元走势和美联储主席Kevin Warsh在杰克逊霍尔会议上的讲话，文章呈现的是多条宏观线索叠加，未证明单一因素造成全部市场变动。

重要性评级

评级：5/5（高）。报道发布时间接近亚洲交易时段，直接连接NVDA财报预期、油价和利率变量，来源为路透社且事实密度高；伊朗制裁执行和财报结果仍是待验证事件。

关键事实

• MSCI亚太除日本指数下跌0.5%，日经指数下跌0.9%，韩国综合指数下跌2.7%。
• 市场等待英伟达预计于08/26公布的业绩，分析师预期季度收入接近920亿美元，全年盈利指引约为1030亿至1050亿美元。
• 布伦特原油报每桶92.08美元，美国原油报每桶85.09美元，二者隔夜跌幅均超过2%。
• 美国政府警告与伊朗继续交易的国家可能面临二级制裁，但财政部尚未公布处罚措施；受访策略师认为中国不太可能因压力停止与伊朗贸易。
• 美国财政部可能动用现金账户支持长期国债回购，相关预期压低近期国债收益率并减少短期国库券供给压力。
• 纳斯达克期货下跌0.08%，标普500期货基本持平，欧洲斯托克50期货下跌0.05%；现货黄金上涨0.5%至每盎司4675.51美元。
• 市场还等待美联储主席Kevin Warsh在周五杰克逊霍尔会议上的讲话，以判断利率反应机制。

作者观点与证据

路透社将亚洲科技股回落归因于英伟达业绩预期偏高，并把油价变化与伊朗制裁威胁及其暂未落地联系起来。指数、期货、油价和黄金为市场报价事实；英伟达业绩预期、制裁对贸易和油价的影响，以及国债回购的收益率作用来自分析师或市场推断。

与相关标的的关系

NVDA是亚洲科技情绪和全球人工智能支出预期的直接观察对象，财报结果可能影响相关芯片和云计算板块。CL=F（美国原油期货）对应油价线索；伊朗制裁、美元和美国利率还会影响能源、通胀与风险资产定价，但文章没有给出个别公司的盈利传导数据。

时效性与限制

文章发表于美东时间 08/24 21:29（UTC+8 08/25 09:29）。报道覆盖多个同时发生的市场变量，部分影响路径来自受访者判断；制裁是否执行、英伟达实际业绩、国债回购规模和Warsh讲话内容均未发生或尚未公布。

后续跟踪

• 英伟达08/26业绩、收入指引和人工智能需求表述。
• 美国对伊朗贸易的制裁执行范围及中国相关贸易反应。
• 布伦特和美国原油价格、库存与风险溢价变化。
• 国债回购实施情况、美国收益率和Warsh对通胀目标及利率的表述。

英文原文

Asia shares fall on tech nerves; oil prices slip

Asia shares fall on tech nerves; oil prices slip

By Rae Wee

Tue, August 25, 2026 at 10:29 AM GMT+9 3 min read

• CL=F

+0.39%

• NVDA

-2.91%

By Rae Wee

SINGAPORE, Aug 25 (Reuters) - Asia shares slipped on Tuesday while oil prices extended losses, after threats from the U.S. for an "economic D-Day" of sanctions on Iran turned out to be a damp squib.

U.S. Treasury yields were off their recent highs ‌following a report that the Treasury Department might tap into its cash account to finance increased debt buybacks, which could reduce ‌the need for additional sales of short-term bills. [US/]

The tech sector is holding its breath for Nvidia's results on Wednesday; investors are aware how hard it will be for the chipmaker to ​meet lofty expectations.

Analysts are generally looking for quarterly revenue to almost double to around $92 billion, with full-year earnings guidance seen in a range of $103 billion to $105 billion.

"Those are really high expectations to be met," said Fabien Yip, a market analyst at IG.

"Judging from Nvidia's track record, it won't be surprising if they meet the headline numbers, but I think the more piece is people are trying to understand whether there are concerns on the circular deals powering its growth ‌and whether that growth percentage is sustainable in the ⁠upcoming quarters."

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5%, while Japan's Nikkei lost 0.9% and South Korea's Kospi slid 2.7%.

Also weighing on tech sentiment was Alibaba's launch of a $10.2 billion share sale at a steep discount ⁠to fund its AI ambitions as well as disappointment over Samsung Electronics' shareholder-return plan.

Nasdaq futures were off 0.08% while S&P 500 futures were flat. EUROSTOXX 50 futures edged 0.05% lower.

SANCTIONS AND BUYBACKS

On Monday, the Trump administration warned countries to cut their business ties with Iran or face secondary sanctions as part of what it billed ​as ​an "economic D-Day," though the Treasury Department stopped short of imposing any penalties.

Oil prices fell ​in the wake of the announcement and were little changed ‌on Tuesday, with Brent crude futures down 0.1% to $92.08 a barrel. U.S. crude edged 0.1% higher to $85.09 per barrel; both measures fell more than 2% overnight.

"We do not expect China - Iran's largest trade partner - to bow to U.S. pressure to cease commerce with Iran," said Joseph Capurso, a strategist at the Commonwealth Bank of Australia.

"The U.S.' campaign against Iran puts at risk the trade truce between the U.S. and China ahead of the leaders meeting next month."

Still, the threat of being cut off from the dollar-based financial system stoked rumours that some countries and banks might need to buy dollars in ‌anticipation, lending support to the greenback.

Story Continues

The U.S. dollar extended gains against its Canadian counterpart ​and last stood at C$1.3844 after a rise of more than 0.5% overnight.

On Monday, ​U.S. President Donald Trump threatened to raise U.S. tariffs on all ​cars, trucks and automotive parts from Canada to 50% starting on January 1, escalating a trade fight after negotiations collapsed ‌last week.

The euro strayed from a three-month high and last ​bought $1.1668, while sterling added 0.06% to $1.3638.

Market ​participants will be focused on Federal Reserve Chair Kevin Warsh's speech in Jackson Hole, Wyoming, on Friday, where investors are hoping for some clarity on the outlook for U.S. interest rates.

"Fiscal uncertainty is unlikely to fade soon ... there is scope, though, for the Warsh-led Fed to ​ease some monetary policy uncertainty by clarifying its ‌reaction function - specifically, how long it is willing to keep rates on hold to see inflation return to its 2% target," Standard ​Chartered analysts said.

"All eyes will be on Chair Warsh's Jackson Hole speech for a signal, if not forward guidance."

Spot gold ​was up 0.5% at $4,675.51 an ounce. [GOL/]

(Reporting by Rae Wee; Editing by Thomas Derpinghaus)

打开原文

Nebius完成57.5亿美元发债

重要性5/5 高

公告直接确认NBIS大额融资、票据结构、旧债换股和人工智能云资金用途，对资本结构与潜在股本供给的事实价值高；来源为公司付费新闻稿，未来经营效果尚未验证。

标签

标的：`NBIS`来源：Business Wire发布日期：2026-08-24重要性：5/5 高评级理由：公告直接确认NBIS大额融资、票据结构、旧债换股和人工智能云资金用途，对资本结构与潜在股本供给的事实价值高；来源为公司付费新闻稿，未来经营效果尚未验证。评级依据：公司公告时效性高, 对NBIS直接相关, 融资条款和股份交换事实明确, 来源为发行方新闻稿，前瞻计划占比较高原文字数：1148

中文摘要

核心结论

Nebius（NBIS）宣布完成总额约57.5亿美元的私募可转换优先票据发行，并将部分旧票据交换为约1580万股A类普通股。资金计划用于数据中心建设、全栈人工智能云、机房扩张和GPU（图形处理器）采购；融资规模已确定，但未来扩张和增长效果仍属于公司前瞻性表述。

重要性评级

评级：5/5（高）。这是直接涉及NBIS资本结构、现金来源和潜在股份供给的公司公告，票据条款、交换股份和资金用途明确；公告由公司通过Business Wire发布，未来经营计划仍需后续业绩验证。

关键事实

• 2030年到期、票面利率0.50%的可转换票据本金为34.5亿美元；2034年到期、票面利率4.50%的票据本金为23亿美元，总额约57.5亿美元。
• 初始购买方追加购买选择权已全部行使，追加本金包括2030年票据4.5亿美元和2034年票据3亿美元。
• 公司将4亿美元2029年到期、票面利率2.00%的旧票据和4亿美元2031年到期、票面利率3.00%的旧票据交换为约1580万股A类普通股。
• 募集资金拟用于数据中心建设和扩建、全栈人工智能云平台、关键组件及GPU采购，以及一般公司用途。
• 参与旧票据交换的持有人可能在公开市场出售A类普通股，或调整与对冲头寸相关的衍生交易；公司提示相关活动可能压低其股票或其他证券价格。
• 票据和转换后可交付股份依据Rule 144A（美国证券法下合格机构买方私募规则）发行，未进行公开注册。
• 公司在08/20提交的监管文件中披露了票据条款；公告包含有关未来业务、扩张、融资和财务表现的前瞻性陈述。

作者观点与证据

这是一份公司付费新闻稿，主要提供已完成融资、票据利率、到期日、旧债交换和资金用途等公告事实。数据中心扩张、客户增长、资本需求和未来融资能力属于公司计划或前瞻性陈述，公告列出的市场、竞争、技术和融资风险意味着实际结果可能出现重大差异。

与相关标的的关系

NBIS直接涉及新增债务、利息负担、潜在股份供给和人工智能云扩张。约1580万股旧债交换所得股票可能带来后续市场供给，公告仅提示潜在价格影响，没有披露实际出售规模、对冲安排或对每股指标的量化影响。

时效性与限制

公告发表于美东时间 08/24 16:05（UTC+8 08/25 04:05）。这是发行方付费新闻稿，证券未注册公开发行；公告事实较明确，但资金使用效果、客户获取、数据中心建设进度和未来回报尚未由后续财务数据确认。

后续跟踪

• 票据现金利息、转换条件和未来可能交付的股份数量。
• 约1580万股交换股份的出售、对冲及市场交易情况。
• 数据中心建设、GPU采购、人工智能云收入和客户签约进度。
• 现金流、债务余额和后续融资需求。

英文原文

Nebius Group announces closing of private offering of convertible senior notes, with aggregate gross proceeds of approximately $5.75 billion

This is a paid press release. Contact the press release distributor directly with any inquiries.

Nebius Group announces closing of private offering of convertible senior notes, with aggregate gross proceeds of approximately $5.75 billion

Business Wire

Tue, August 25, 2026 at 5:05 AM GMT+9 6 min read

• NBIS

-3.75%

AMSTERDAM, August 24, 2026 --( BUSINESS WIRE )--Nebius Group N.V. ("Nebius Group" or the "Company"; NASDAQ: NBIS), the AI cloud company, today announced the closing of its previously announced offering of convertible senior notes, in two series: 0.50% convertible notes due 2030 (the "2030 Notes") and 4.50% convertible notes due 2034 (the "2034 Notes", and together with the 2030 Notes, the "Notes"), in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The initial purchasers exercised in full their options to purchase an additional $450 million aggregate original principal amount of 2030 Notes and $300 million aggregate original principal amount of 2034 Notes. Accordingly, the aggregate original principal amount of the 2030 Notes is $3.45 billion, the aggregate original principal amount of the 2034 Notes is $2.3 billion, and the total aggregate original principal amount of the Notes is $5.75 billion.

Concurrently with the pricing of the offering of the Notes, in separate, privately negotiated transactions, the Company entered into exchange agreements with a limited number of holders of the Company's 2.00% Convertible Senior Notes due 2029 (the "2029 Notes") and 3.00% Convertible Senior Notes due 2031 (the "2031 Notes" and, together with the 2029 Notes, the "Existing Notes") to exchange $400 million aggregate original principal amount of the 2029 Notes and $400 million aggregate original principal amount of the 2031 Notes for an aggregate of approximately 15.8 million of its Class A ordinary shares, par value €0.01 ("Class A shares"). The terms of each such exchange were individually negotiated with each participating holder. Holders of the Existing Notes that participated in such exchanges may sell the Class A shares in the open market and/or enter into or unwind various derivative transactions in connection with hedge positions they may have with respect to the Existing Notes. These activities could decrease (or reduce the size of any increase in) the market price of the Class A shares or the trading price of the Company's other securities.

As previously communicated, the Company intends to use the net proceeds from the offering of the Notes to finance the continuing growth of its business, including expenditures related to the construction and build-out of its data centers, investments to develop its full-stack AI cloud, the expansion of its data center footprint and the procurement of key components (including GPUs), and for general corporate purposes.

Story Continues

Information about the terms of the Notes can be found in the Company's Report on Form 6-K filed with the Securities and Exchange Commission ("SEC") on August 20, 2026.

The offer and sale of the Notes and any Class A shares deliverable upon conversion of the Notes or deliverable in the exchange transactions described above have not been, and will not be, registered under the Securities Act or any other securities laws, and the Notes and any such Class A shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Nebius

Nebius, the AI cloud company, is building the full-stack platform for developers and companies to take charge of their AI future — from data and model training to production deployment. Founded on deep in-house technological expertise and operating at scale with a rapidly expanding global footprint, Nebius serves startups and enterprises building AI products, agents and services worldwide.

Nebius is listed on Nasdaq (Nasdaq: NBIS) and headquartered in Amsterdam.

For more information please visit www.nebius.com .

Media kit nebius.com/media-kit .

Disclaimer

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the offering and exchange transactions described herein, our future financial and business performance, strategy, expected growth, planned investments and capital expenditures, capacity expansion plans, anticipated future financing transactions and expected financial results, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "guide," "intend," "likely," "may," "will" and similar expressions and their negatives are intended to identify forward-looking statements.

These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others: market, macroeconomic and geopolitical conditions; our ability to build, operate and manage our businesses to the desired scale; competitive pressures; technological developments; our ability to secure and retain clients; our ability to secure additional capital to enable the growth of the business; unpredictable sales cycles; and potential pricing pressures; as well as those risks and uncertainties related to our continuing businesses included under the captions "Risk Factors" and "Operating and Financial Review and Prospects" in our Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 30, 2026, as amended.

All information in this press release is as of the date hereof (unless stated otherwise). Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release and, while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260824987558/en/

Contacts

Media relations: media@nebius.com

Investor relations: askIR@nebius.com

打开原文

英伟达人工智能服务器拟涨价

重要性5/5 高

文章发布时间紧邻英伟达08/26财报，直接关联NVDA定价权、内存成本、客户需求和毛利率，且包含多项高金额经营数据；关键涨价消息仍来自媒体转引。

标签

标的：`MSFT`来源：GuruFocus.com发布日期：2026-08-24重要性：5/5 高评级理由：文章发布时间紧邻英伟达08/26财报，直接关联NVDA定价权、内存成本、客户需求和毛利率，且包含多项高金额经营数据；关键涨价消息仍来自媒体转引。评级依据：财报前时效性极高, 直接标的相关度极高, 经营数据和供应链事实密度高, 涨价范围及客户反应尚未独立确认原文字数：426

中文摘要

核心结论

文章援引彭博报道称，英伟达计划把多款搭载Grace Blackwell和下一代Vera Rubin芯片的人工智能服务器价格提高超过15%，相关系统预计明年初出货。涨价显示客户仍愿为稀缺算力支付高价，也带来内存成本转嫁、客户部署速度和毛利率能否维持的验证压力。

重要性评级

评级：5/5（高）。消息紧邻英伟达08/26收盘后公布财报，涉及服务器定价、内存供应、超大规模客户需求和毛利率等高影响变量；涨价执行范围和最终客户反应尚未完全确认。

关键事实

• 彭博报道称，搭载Grace Blackwell和Vera Rubin芯片的部分人工智能服务器将涨价超过15%，具体幅度取决于芯片代际和内存配置。
• 为微软、Alphabet（谷歌母公司）和甲骨文供货的代工厂据称已向客户通知涨价，系统预计明年初开始出货。
• 高带宽内存和传统动态随机存取存储器供应紧张，美光、三星和SK海力士扩产速度受到需求约束。
• 英伟达上季度收入816亿美元，同比增长85%；数据中心收入752亿美元，同比增长92%。
• 上季度非美国通用会计准则毛利率为75%，公司指引财季第二季度收入约910亿美元，毛利率仍为75%。
• 微软、亚马逊、Alphabet和Meta均在开发自有加速器，服务器价格快速上升可能影响替代芯片投入和数据中心部署节奏。
• 英伟达计划于08/26收盘后公布财季第二季度业绩。

作者观点与证据

文章把涨价解读为英伟达向下游转嫁内存成本的能力，也提出客户需求弹性可能削弱其定价优势。收入、数据中心增长和毛利率是已披露经营事实；涨价信息主要来自GuruFocus转引彭博报道，客户接受度、实际涨价范围和替代加速器影响仍属于待验证判断。

与相关标的的关系

NVDA直接涉及服务器售价、芯片需求、供应成本和毛利率。MSFT、GOOG和ORCL的云及人工智能基础设施部署可能承担更高系统成本；美光、三星和SK海力士则处于高带宽内存与动态随机存取存储器供给环节。文章未量化各客户的采购金额或成本传导比例。

时效性与限制

文章发表于美东时间 08/24 15:13（UTC+8 08/25 03:13）。涨价属于媒体报道，公告尚未说明所有产品和客户的适用范围；财报前的需求、毛利率和Vera Rubin出货判断仍需公司披露确认。

后续跟踪

• 08/26财报中的收入、毛利率和下一季度指引。
• Vera Rubin订单、出货时间及客户部署计划。
• 内存价格、供应量和英伟达服务器涨价的实际执行范围。
• 微软、亚马逊、Alphabet和Meta自研加速器的进展。

英文原文

Nvidia Makes Aggressive Move Ahead of Earnings

Nvidia Makes Aggressive Move Ahead of Earnings

Moz Farooque ACCA

Tue, August 25, 2026 at 4:13 AM GMT+9 2 min read

• NVDA

-2.91%

• MSFT

+0.84%

• GOOG

+0.83%

• ORCL

-2.74%

This article first appeared on GuruFocus .

Nvidia ( NASDAQ:NVDA ) is reportedly preparing price increases of more than 15% on many AI servers using its chips as soaring memory costs collide with relentless data-center demand. The move highlights Nvidia's extraordinary pricing power ahead of Wednesday's earnings, but it also puts a new investor question into focus: whether rising component costs can be passed through without slowing hyperscaler AI spending or squeezing Nvidia's industry-leading margins.

• Warning! GuruFocus has detected 4 Warning Signs with NVDA.

• Is NVDA fairly valued? Test your thesis with our free DCF calculator.

Some of Nvidia's largest customers have been told that systems containing Grace Blackwell and next-generation Vera Rubin chips will become more expensive when shipments begin early next year, Bloomberg reported. The increases will vary depending on the chip generation and memory configuration.

Contract manufacturers supplying Microsoft ( NASDAQ:MSFT ), Alphabet ( NASDAQ:GOOGL ) and Oracle ( NYSE:ORCL ) have already notified customers of the increases, according to the report.

Memory is the pressure point. AI servers require enormous amounts of high-bandwidth memory and conventional DRAM, while suppliers including Micron ( NASDAQ:MU ), Samsung and SK Hynix have struggled to expand capacity fast enough to match AI demand.

That creates an unusual setup for Nvidia. Higher memory prices raise the cost of delivering complete AI systems, but the company's ability to push those increases downstream also indicates customers remain willing to pay heavily for scarce computing capacity.

The stakes are significant. Nvidia generated $81.6 billion of revenue last quarter, up 85% year over year, with Data Center revenue surging 92% to $75.2 billion. Non-GAAP gross margin stood at 75%. Nvidia guided fiscal second-quarter revenue to roughly $91 billion and another 75% non-GAAP gross margin.

Investors Takeaway

Wednesday's fiscal second-quarter earnings will provide the clearest test. Nvidia reports Aug. 26 after the market closes.

Investors should focus closely on gross-margin guidance, Vera Rubin demand, supply availability and any commentary on memory inflation. If Nvidia can preserve margins while passing higher costs to customers, the price increases would reinforce its pricing-power thesis.

The risk is demand elasticity. Microsoft, Amazon ( NASDAQ:AMZN ), Alphabet and Meta ( NASDAQ:META ) are all developing proprietary accelerators. If rapidly rising Nvidia system costs accelerate those alternatives or force customers to moderate deployments, today's pricing strength could eventually become a headwind.

打开原文

人工智能发债挤压国债资金

重要性5/5 高

文章同时覆盖人工智能融资、长期美债收益率、财政部回购和PLTR融资环境，时间接近当日市场，数字事实集中；因果解释和预测概率存在来源与方法限制。

标签

标的：`PLTR`来源：Benzinga Prediction Markets发布日期：2026-08-24重要性：5/5 高评级理由：文章同时覆盖人工智能融资、长期美债收益率、财政部回购和PLTR融资环境，时间接近当日市场，数字事实集中；因果解释和预测概率存在来源与方法限制。评级依据：宏观时效性高, 对PLTR融资环境有直接关联, 金额、收益率和回购数据密度高, 观点来自受访者，概率数据存在合作关系原文字数：589

中文摘要

核心结论

Benzinga援引BNP Paribas（法国巴黎银行）数据称，人工智能公司今年发行债务约2200亿美元，增加了长期国债与企业债争夺投资者资金的压力。受访研究员认为，人工智能融资本身属于生产性借贷，财政赤字、通胀和政策不确定性才是长期收益率高企的重要风险；这一因果判断仍缺乏可拆分验证。

重要性评级

评级：5/5（高）。文章把人工智能融资与长期美债收益率、财政部回购和PLTR融资环境直接连接，包含2200亿美元、40万亿美元及收益率概率等当日可用数据；部分观点来自受访者，概率数据来自存在合作关系的预测市场。

关键事实

• BNP Paribas数据显示，人工智能公司今年发行债务约2200亿美元。
• 美国联邦债务已超过40万亿美元，长期企业债与国债共同争夺投资者资金。
• 美国财政部计划自09/09起，将长期国债流动性支持回购的单次上限从20亿美元提高至至少40亿美元。
• CNBC报道称，财政部官员考虑动用约9500亿美元财政部一般账户购买非流通国债。
• 周一美国10年期国债收益率约4.71%，30年期约5.24%。
• Kalshi（预测市场平台）交易者认为，10年期收益率在2026年末达到4.75%或更高的概率为56%，达到5%或更高的概率为27%。
• 受访研究员认为较高收益率暂时不会直接阻断英伟达、Palantir（帕兰提尔）或SpaceX继续融资，但战争和通胀压力可能同时影响这些公司。

作者观点与证据

文章将人工智能债券发行描述为对国债供给的竞争，并引用卡托研究所研究员Jai Kedia的观点，把财政政策、通胀和政府借款视为主要风险。2200亿美元数据来自BNP Paribas，收益率为市场报价；财政部回购规模和9500亿美元账户用途部分来自媒体报道，Kedia对回购效果及企业融资能力的判断属于观点。

与相关标的的关系

PLTR直接暴露于企业债融资成本、长期收益率和人工智能资本开支环境。文章同时提及NVDA和SPCX（SpaceX股票代码），但没有提供其债券发行、利息成本或现金流数据，因此相关影响只能停留在宏观融资背景层面。

时效性与限制

文章发表于美东时间 08/24 14:21（UTC+8 08/25 02:21）。BNP Paribas数据的统计范围和发行主体构成未在文中展开；Kalshi与Benzinga存在数据合作关系，预测概率不等同于已实现结果。人工智能发债与国债收益率之间的单独因果贡献也无法从文中拆分。

后续跟踪

• 人工智能公司债券发行量、期限、票面利率和投资者需求。
• 10年期与30年期国债收益率及期限溢价变化。
• 09/09起财政部长期国债回购的实际规模和市场反应。
• PLTR及其他人工智能公司的融资成本、现金流和资本开支披露。

英文原文

EXCLUSIVE: How AI

EXCLUSIVE: How AI's $220 Billion Bond Boom Competes With the Treasury

Daragh Thomas

Tue, August 25, 2026 at 3:21 AM GMT+9 3 min read

• BNP.PA

-0.65%

• PLTR

-2.25%

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

AI companies have issued roughly $220 billion of debt this year, according to BNP Paribas data, adding to a supply wave that has helped push long-term Treasury yields near their highest levels in years.

In response to the bond selloff, Treasury Secretary Scott Bessent has expanded the government's long-end buybacks and signaled that larger purchases could follow.

Big Tech's borrowing boom is intensifying its competition with the Treasury for investor capital.

But Jai Kedia , a research fellow at the Cato Institute, says Washington should not treat the AI side of that competition as the problem.

"[The] AI buildout should not be worrying," Kedia told Benzinga. "It represents healthy competition to government bonds from increasingly valuable corporate bonds."

Washington, Not AI, Is the Bigger Risk

The federal debt has surpassed $40 trillion, adding to the supply competing for investor capital.

Janney Chief Fixed Income Strategist Guy LeBas told Benzinga there is "zero way to distinguish" the effects of government borrowing and the AI buildout on yields, adding that their interaction is likely nonlinear.

Kedia draws a distinction between productive private borrowing and the pressures created by government policy. He considers AI investment healthy, but sees fiscal irresponsibility and inflation as the real worries.

"The administration should back off from tariffs and other policies that are raising prices," he said.

Can Treasury Buybacks Make a Difference?

Treasury said last week that it would at least double the announced size of its long-end liquidity-support buybacks, from the current $2 billion maximum to at least $4 billion per operation beginning Sep. 9.

"The Treasury market is over $30 trillion, so bond buybacks in the single-digit billions are not going to have any lasting effect," Kedia said, noting that yields quickly gave back their initial decline.

"This is a problem of Washington's making, and they cannot fix it through more government intervention."

"It might signal larger interventions, but I hope not," he added.

CNBC reported Monday that senior Treasury officials consider the roughly $950 billion Treasury General Account available to fund purchases of off-the-run securities.

Kedia said the episode likely damaged Bessent's credibility to some extent, particularly because he had criticized former Treasury Secretary Janet Yellen for similar Treasury interventions. However, he doubted the damage would last.

Story Continues

Why High Yields May Outlast the Buybacks

The 10-year yield traded around 4.71% Monday, while the 30-year was near 5.24%. Kalshi traders give the 10-year a 56% chance of ending 2026 at 4.75% or higher and a 27% chance of finishing at 5% or above.

Despite those elevated yields, Kedia does not expect them to directly hurt Nvidia Corp. (NASDAQ: NVDA ), Palantir Technologies Inc. (NASDAQ: PLTR ) or SpaceX (NASDAQ: SPCX ). He said the companies could suffer from the same war and inflation pressures pushing yields higher, but strong investor appetite should allow them to continue raising capital for now.

Kalshi and Benzinga have an existing data collaboration agreement.

Image: Shutterstock

Read Also: Dan Ives Says Nvidia's 15% AI Server Price Hike Is Bullish for Tech. Could Micron Be the Real Winner?

This article EXCLUSIVE: How AI's $220 Billion Bond Boom Competes With the Treasury originally appeared on Benzinga.com

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

打开原文

阿里巴巴转向全栈人工智能

重要性4/5 中高

发布时间接近当日，直接涉及BABA的大额融资、股本稀释和人工智能资本开支，兼具公司与行业信息；部分回报判断依赖管理层预期及媒体转引。

标签

标的：`GOOG`, `MSFT`来源：TheStreet发布日期：2026-08-25重要性：4/5 中高评级理由：发布时间接近当日，直接涉及BABA的大额融资、股本稀释和人工智能资本开支，兼具公司与行业信息；部分回报判断依赖管理层预期及媒体转引。评级依据：时效性较强, 直接标的相关度高, 金额、增速和资本开支事实密度较高, 来源为媒体转引且前瞻判断较多原文字数：1354

中文摘要

核心结论

阿里巴巴拟发行800亿港元、约102亿美元新股，投入芯片、云基础设施、大模型和人工智能应用，业务定位将进一步从电商延伸至全栈人工智能。融资会带来现有股东稀释和短期资本开支压力，管理层对算力投资回本的预期仍待经营数据验证。

重要性评级

评级：4/5（中高）。文章与BABA及大型科技公司的人工智能资本开支竞争直接相关，金额和业务增速数据较充足；部分判断来自媒体转引和管理层预期。

关键事实

• 阿里巴巴拟发行800亿港元、约102亿美元新股，募集资金用于芯片、云基础设施、大模型和人工智能应用。
• 云与人工智能业务在4月至6月季度同比增长45%；季度资本开支同比增长75%，达到677亿元人民币，约合100亿美元。
• 首次发行将降低现有股东持股比例；文章称发行规模因投资者需求较强而增加。
• 首席执行官吴永明表示，人工智能算力投资预计约三年回本；若毛利率持续改善，周期可能缩短至约两年。
• 阿里巴巴希望同时覆盖芯片、计算基础设施、模型和应用，直接面对亚马逊、微软和谷歌的云与人工智能业务。
• 人工智能基础设施竞争可能影响企业云成本、软件功能、零售搜索、广告和物流效率，但文章没有给出消费者价格下降的实证证据。

作者观点与证据

文章将新股融资解读为阿里巴巴向全栈人工智能公司的战略转型，并认为云和人工智能业务的快速增长能为长期投入提供支撑。增长和资本开支数据来自美国联社等媒体转引，融资用途来自路透社报道；回本周期、竞争优势及消费者影响属于管理层或作者推演。

与相关标的的关系

BABA直接承受股本稀释、人工智能投入和潜在盈利压力，同时获得扩大云业务和计算基础设施规模的机会。AMZN、MSFT和GOOG将面对来自中国大型云平台的人工智能基础设施竞争，文章未量化其收入或利润影响。

时效性与限制

文章发表于美东时间 08/24 20:03（UTC+8 08/25 08:03）。发行定价、最终股本变化、人工智能投入回报和毛利率改善尚未在文中得到独立验证；文章由TheStreet整理多家媒体报道，包含较多前瞻性判断。

后续跟踪

• 新股发行价格、最终发行规模和股东稀释比例。
• 云与人工智能业务收入、毛利率及资本开支变化。
• 算力投资的实际回本周期和现金流表现。
• 亚马逊、微软、谷歌对云计算和人工智能基础设施定价的反应。

英文原文

Alibaba’s $10.2 billion AI bet could reach far beyond investors

Alibaba’s $10.2 billion AI bet could reach far beyond investors

Faizan Farooque

Tue, August 25, 2026 at 9:03 AM GMT+9 7 min read

• BABA

-0.73%

• AMZN

+1.33%

• MSFT

+0.84%

• GOOG

+0.83%

Alibaba is asking investors to pay for a transition that is much broader than a fresh product launch.

The Chinese technology giant plans to issue HK$80 billion, or about $10.2 billion , in new shares and use the proceeds to expand its artificial intelligence capabilities across chips, cloud infrastructure, large language models, and AI applications, Reuters reported.

For Alibaba Group Holding (BABA) shareholders, the immediate effect is dilution. Existing investors will own a slightly smaller percentage of the company once the new shares are issued.

But the strategic bet is much larger: Alibaba is trying to position itself as a full-stack AI competitor to Amazon (AMZN) , Microsoft (MSFT) , and Alphabet (GOOGL) rather than remain primarily an e-commerce company.

That change matters beyond the stock market. Companies are increasingly using AI for customer service, software, advertising, inventory management, and online purchasing. If Alibaba can create cheaper or more powerful AI infrastructure, it might force U.S. Big Tech rivals to respond with lower costs, speedier product launches, or more generous services.

There is no guarantee of success. But the spending competition has become so intense that consumers and investors alike may feel the impact.

Alibaba is spending heavily to become a full-stack AI company

Alibaba said it will use the funds from the fresh share offering to enhance its "full-stack AI capabilities," including infrastructure and processing capacity.

That spending comes as the company's cloud and AI businesses are accelerating. Revenue from those operations rose 45% year over year in the April-to-June quarter, according to the Associated Press , while capital expenditure climbed 75% to 67.7 billion yuan , or roughly $10 billion.

The data demonstrate how swiftly Alibaba's identity is shifting.

It was born out of digital commerce, markets, and online shopping. The corporation is now seeking to exert more influence over the technology stack that supports AI, including chips, computing infrastructure, models, and apps.

That method increasingly looks like the approach followed by Amazon, Microsoft, and Google, all of which mix cloud platforms with proprietary AI models and specialized hardware.

The case for investors is straightforward. There are additional possibilities for companies with infrastructure and applications to monetize AI spend. They can sell computer power, software access, enterprise tools, and consumer-facing solutions on top of the same underlying technologies.

Story Continues

For consumers, the influence is more indirect, but it is no less important. The more vigorously these companies compete, the more pressure to make AI services cheaper, faster, and easier to use.

Related: Alibaba drops a laptop AI model days before Meta's move

Alibaba CEO Eddie Wu has also argued that the economics can improve over time, Reuters reported. He said the company expects its AI computing investments to break even within three years, with the payback period potentially shortening to roughly two years if gross margins continue to improve.

That's a big ask, considering that Alibaba's AI push is already pricey. Heavy capital investment might depress earnings, while issuing new shares produces dilution.

Management is essentially asking investors to pay those costs today for a shot at higher cloud growth and a better competitive position tomorrow.

Alibaba's $10.2 billion AI bet could hit closer to home.China News Service / Getty Images

The AI arms race could eventually reach Main Street

Most consumers will never buy a data center server, but they increasingly pay for the services that computers enable.

Retailers employ AI to improve search, suggestions, and inventory management. Banks use it to identify fraud and deliver customer care. Software businesses are adding AI assistants to goods that users already pay for. Advertisers use AI to reach clients more efficiently, and logistics companies use it for routing and delivery.

All of those applications rely on computing infrastructure someplace upstream.

When the price of AI infrastructure is still high, companies typically have three choices: eat the cost, save money elsewhere, or pass some of it on in the form of increased rates and more restrictive subscription plans.

However, if competition reduces those costs, the reverse can occur. Companies may add AI capabilities without raising prices as aggressively, and customers can receive access to superior tools at a lower incremental cost.

That's why the $10.2 billion that Alibaba raised is important, according to The Wall Street Journal , even to Americans who don't own a share of BABA or shop on one of Alibaba's marketplaces.

Alibaba wants to get in on the infrastructure layer of the AI economy. If so, Amazon, Microsoft, and Google may need to respond more forcefully.

More AI:

• Nvidia just made a move Wall Street wasn't ready for

• Microsoft just took sides in AI policy fight

• OpenAI just disclosed something genuinely alarming

It's important not to overestimate the effect on consumers. Alibaba's recent share sale doesn't promise cheaper AI subscriptions or lower shopping prices.

Still, big infrastructure competition does tend to matter in the long run.

Amazon Web Services, Microsoft Azure, and Google Cloud competed for enterprise customers, making cloud computing more capable and more widely available.

AI infrastructure might take the same direction, especially as more firms construct their chips, models, and data-center networks.

BABA investors are taking on more risk for a bigger prize

The shareholders have the instant trade-off.

Alibaba is issuing new stock, which will dilute existing shareholders. At the same time, the company is investing another $10.2 billion in a market management feels might be a significant long-term growth engine.

The bull case is that Alibaba is already big enough to make the investment worth it. The company was reportedly able to increase the amount of the offering due to high investor demand. Its cloud and AI businesses are growing quickly.

The negative argument is that AI turns into a capital-intensive arms race with unpredictable rewards.

Alibaba is up against U.S. firms with massive balance sheets, leading cloud platforms and worldwide client bases. The challenge may be that even if Alibaba succeeds quickly, it will still need to show the economics justify the spending.

What Alibaba's $10.2 billion raise means

• $10.2 billion: Approximate size of Alibaba's new share offering

• 45%: Year-over-year growth in its cloud and AI businesses last quarter

• 75%: Increase in quarterly capital spending

• Proceeds: All going toward AI, Alibaba said

• Investor impact: Dilution for existing shareholders

• Competitive impact: Alibaba as a more direct competitor with Amazon, Microsoft, and Google

• Consumer impact: Greater AI infrastructure competition, which could eventually influence the cost and availability of AI-powered services

That's where BABA is increasingly different from the Alibaba investors knew a few years ago. The stock is becoming less of a bet on Chinese e-commerce and more of a wager on whether Alibaba can become one of the world's big AI infrastructure businesses.

Alibaba is constructing an end-to-end business from semiconductors to computing infrastructure, models, and apps. This makes it a more direct rival to major U.S. tech corporations and gives it more control over the economics of AI.

BABA investors have to ask themselves if that investing will pay off in terms of returns eventually outweighing dilution and near-term profit pressure.

The question for consumers is whether a stronger Alibaba means the rest of Big Tech will have to work harder to compete. That may look like improved AI tools, more features in existing products, lower cloud costs for enterprises, or faster adoption across retail, finance, software, and logistics.

Those results aren't guaranteed. Nonetheless, Alibaba's $10.2 billion financing makes one thing clear: The global AI arms race is getting costlier, more competitive, and more impactful.

Shareholders are paying up for the next stage immediately. Eventually, the rest of the market may feel the effect.

Related: Alibaba shares defy major AI scandal as Wall Street bites

This story was originally published by TheStreet on Aug 24, 2026, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

金十快讯

金十数据快讯 · 2026-08-25 11:05:29+08:00 · 原油 / 天然气 / 航运 / 地缘/航运 / 能源/跨资产

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金十数据快讯 · 2026-08-25 08:16:52+08:00 · 005930.KS / SKHYNIX / KOSPI / 存储芯片 / 全球股市

韩国股市与存储股走弱

KOSPI日内跌4%，三星电子跌4%，SK海力士跌6%。

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AI云服务商Lambda洽谈30亿美元融资

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金十数据快讯 · 2026-08-25 06:03:08+08:00 · FEDFUNDS / 联邦基金利率 / 美联储/利率 / 利率 / 美国

CME利率概率

金十转述CME“美联储观察”：9月维持利率不变概率58.6%，累计加息25bp概率41.4%；10月维持不变43.0%，加息25bp概率46.0%，加息50bp概率11.0%。

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中东、制裁与霍尔木兹局势跟踪

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道指初步涨0.26%，标普500跌0.28%，纳指跌0.76%；SK海力士跌4.9%、美光跌5.8%、闪迪跌6.4%，英伟达和英特尔跌约3%；纳斯达克中国金龙指数跌1.67%。

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其余快讯（31）

2026-08-25 11:02:03+08:00 · 美债 / 美元 / 财政/利率

市场人士反对美国财政部回购美债计划

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DRAM现货价格分化

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现货白银日内跌幅扩大至2%

2026-08-25 10:52:52+08:00 · 黄金 / 贵金属 / 商品

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2026-08-25 10:48:52+08:00 · JPY / 日本国债 / 财政/债券

日本拟研究面向散户的国债税收优惠

2026-08-25 10:40:37+08:00 · A股 / 中国股市 / 股票

A股主力资金流向前十

2026-08-25 10:40:14+08:00 · 09868.HK / 09866.HK / 09863.HK

港股汽车股走势分化

2026-08-25 10:30:16+08:00 · 铜 / AI需求 / 工业金属/贸易

亚洲交易时段铜价下跌

2026-08-25 10:21:57+08:00 · USDJPY / 日元 / 日本央行

美银称日本央行可能通过加息稳定日元

2026-08-25 09:33:34+08:00 · AUD / 澳洲联储 / 现金利率

澳洲联储会议纪要存在加息分歧

2026-08-25 09:25:40+08:00 · DXY / 美元指数 / 外汇

美元指数站上99

2026-08-25 09:22:58+08:00 · CNY / 逆回购 / MLF

中国央行当日净投放2860亿元

2026-08-25 09:20:51+08:00 · CNY / 7天逆回购 / 央行/流动性

中国央行7天逆回购利率维持1.40%

2026-08-25 09:17:16+08:00 · SKHYNIX / SKHY / HBM

SK海力士工会否决薪资协议

2026-08-25 09:16:11+08:00 · USDCNY / EURCNY / JPYCNY

人民币中间价

2026-08-25 09:14:19+08:00 · XIAOMI / LPDDR6 / 端侧AI

小米玄戒O3支持LPDDR6

2026-08-25 07:38:41+08:00 · 俄罗斯 / 乌克兰 / 黑海

俄乌冲突与制裁更新

2026-08-25 07:33:06+08:00 · CAD / 加拿大 / 铝

美加贸易谈判破裂原因存在分歧

2026-08-25 07:20:47+08:00 · CNY / 财政政策 / 货币政策

人民日报评论宏观政策取向

2026-08-25 03:51:01+08:00 · 伊朗金融与贸易 / 数字资产 / 制裁/地缘

伊朗称已准备应对美国新制裁

2026-08-25 03:45:46+08:00 · 后量子密码 / 数字资产 / 科技政策/金融安全

美国财政部成立量子安全工作组

2026-08-25 01:33:31+08:00 · 数字资产 / 技术 / 黄金

美国宣布对伊朗发动经济攻势

2026-08-25 01:28:24+08:00 · NVDA / Vera Rubin / AI算力

Vera Rubin太空平台计划

2026-08-25 00:03:36+08:00 · NVDA / AI工厂 / 电力

Lancium与英伟达合作建设AI工厂

2026-08-24 23:55:43+08:00 · 欧洲债券 / 天然气 / 地缘/利率

德国财长将债券收益率上升归因于中东战争不确定性

2026-08-24 23:12:23+08:00 · 霍尔木兹 / 红海 / 黑海

联合国成立工作组应对霍尔木兹危机

2026-08-24 21:10:04+08:00 · 天然气 / 能源 / 能源/欧洲

欧洲天然气期货上涨

2026-08-24 20:34:54+08:00 · MXN / GDP / 宏观数据

墨西哥二季度GDP反弹

2026-08-24 20:30:02+08:00 · US / 经济活动指数 / 宏观数据

美国7月芝加哥联储全国活动指数

2026-08-24 19:42:08+08:00 · US10Y / 10年期美债 / 利率

美国10年期国债收益率回落

2026-08-24 19:32:48+08:00 · 天然气 / LNG / 能源

IEA警告欧洲今冬天然气形势

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霍尔木兹海峡周一仅一艘大宗商品船通行

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来源：金十数据快讯发布时间：2026-08-25 11:05:29+08:00检索：地缘/航运标签：原油, 天然气, 航运, 地缘/航运, 能源/跨资产, 中东

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Kpler初步数据称周一仅1艘大宗商品船通过霍尔木兹海峡，为5月7日以来最低；周日为6艘。部分船舶关闭应答器，数据可能修正。

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市场人士反对美国财政部回购美债计划

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来源：金十数据快讯发布时间：2026-08-25 11:02:03+08:00检索：财政/利率标签：美债, 美元, 财政/利率, 利率/美元, 美国

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Stanley Druckenmiller称财政部斥资数十亿美元回购美债是错误决定，并称长期美债收益率是重要财政约束；其为市场人士观点。

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DRAM现货价格分化

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来源：金十数据快讯发布时间：2026-08-25 11:01:31+08:00检索：科技产业标签：`DRAM`, `DDR4`, `DDR5`, 科技产业, 半导体, 全球

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TrendForce称DDR5 16Gb现货均价较上日持平，DDR4 16Gb下跌0.83%，DDR4 8Gb上涨0.21%。

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现货白银日内跌幅扩大至2%

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来源：金十数据快讯发布时间：2026-08-25 10:58:28+08:00检索：贵金属标签：白银, 贵金属, 商品, 全球

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现报67.57美元/盎司。

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现货黄金短线走低

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来源：金十数据快讯发布时间：2026-08-25 10:52:52+08:00检索：贵金属标签：黄金, 贵金属, 商品, 全球

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短线下挫约18美元/盎司，日内跌近0.7%。

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日本拟研究面向散户的国债税收优惠

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来源：金十数据快讯发布时间：2026-08-25 10:48:52+08:00检索：财政/债券标签：`JPY`, 日本国债, 财政/债券, 利率/财政, 日本

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日本财务大臣片山皋月称，将谨慎研究提高日本政府债券对散户吸引力的税收优惠措施，并与相关各方讨论。

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A股主力资金流向前十

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来源：金十数据快讯发布时间：2026-08-25 10:40:37+08:00检索：中国股市标签：A股, 中国股市, 股票, 中国

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截至10:40，高凯技术净流入15.06亿元居首；英维克10.96亿元、亨通光电7.05亿元、寒武纪5.47亿元；流出居首为中际旭创-5.56亿元。

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港股汽车股走势分化

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来源：金十数据快讯发布时间：2026-08-25 10:40:14+08:00检索：全球股市标签：`09868.HK`, `09866.HK`, `09863.HK`, 港股汽车, 全球股市, 股票, 香港

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小鹏跌超8%，蔚来跌超5%，零跑跌3.79%；北京汽车涨超5%，吉利涨超2%。

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亚洲交易时段铜价下跌

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来源：金十数据快讯发布时间：2026-08-25 10:30:16+08:00检索：工业金属/贸易标签：铜, AI需求, 工业金属/贸易, 商品/贸易, 全球

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LME三个月期铜跌0.1%至每吨14230美元。分析称矿山供应受限和AI需求提供支撑，但关税套利使库存流向美国、传统判断更困难。

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美银称日本央行可能通过加息稳定日元

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来源：金十数据快讯发布时间：2026-08-25 10:21:57+08:00检索：央行/外汇标签：`USDJPY`, 日元, 日本央行, 央行/外汇, 外汇/利率, 日本

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美银研究人员称日本可能在财政扩张背景下实施货币紧缩，预测季度加息、2027年7月终端利率2%；维持2026年底美元兑日元149预测。

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澳洲联储会议纪要存在加息分歧

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来源：金十数据快讯发布时间：2026-08-25 09:33:34+08:00检索：央行/通胀标签：`AUD`, 澳洲联储, 现金利率, AI数据中心, 央行/通胀, 利率/宏观, 澳大利亚

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九名委员对是否加息存在分歧；数名委员认为通胀上行风险可能需要加息，其他成员认为4.35%现金利率正在发挥作用并可等待通胀、就业和GDP数据。会议将中东冲突、AI/数据中心投资和生产率列为风险。

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美元指数站上99

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来源：金十数据快讯发布时间：2026-08-25 09:25:40+08:00检索：外汇标签：`DXY`, 美元指数, 外汇, 全球

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DXY日内涨0.01%。

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中国央行当日净投放2860亿元

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来源：金十数据快讯发布时间：2026-08-25 09:22:58+08:00检索：央行/流动性标签：`CNY`, 逆回购, `MLF`, 人民币流动性, 央行/流动性, 宏观/利率, 中国

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央行开展3860亿元7天逆回购和5000亿元1年期MLF，因6000亿元MLF到期，当日实现净投放2860亿元。

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中国央行7天逆回购利率维持1.40%

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来源：金十数据快讯发布时间：2026-08-25 09:20:51+08:00检索：央行/流动性标签：`CNY`, 7天逆回购, 央行/流动性, 宏观/利率, 中国

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今日开展3860亿元7天逆回购，操作利率1.40%，与此前持平。

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SK海力士工会否决薪资协议

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来源：金十数据快讯发布时间：2026-08-25 09:17:16+08:00检索：科技产业/劳资标签：`SKHYNIX`, `SKHY`, `HBM`, 内存芯片, 科技产业/劳资, 半导体, 韩国

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15045名参与投票员工中50.08%投反对票；临时协议含6.3%加薪及利润分享奖金方案调整。

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人民币中间价

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来源：金十数据快讯发布时间：2026-08-25 09:16:11+08:00检索：外汇标签：`USDCNY`, `EURCNY`, `JPYCNY`, 人民币, 外汇, 中国

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美元/人民币报6.7852，人民币较前日中间价贬值11点；欧元/人民币7.8791，100日元/人民币4.2518。

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小米玄戒O3支持LPDDR6

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来源：金十数据快讯发布时间：2026-08-25 09:14:19+08:00检索：科技产业标签：`XIAOMI`, `LPDDR6`, 端侧AI, 科技产业, 半导体/AI, 中国

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小米称玄戒O3支持LPDDR6；行业信源称长鑫科技为国产内存合作伙伴。

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韩国股市与存储股走弱

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来源：金十数据快讯发布时间：2026-08-25 08:16:52+08:00检索：全球股市标签：`005930.KS`, `SKHYNIX`, `KOSPI`, 存储芯片, 全球股市, 股票/半导体, 韩国

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KOSPI日内跌4%，三星电子跌4%，SK海力士跌6%。

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AI云服务商Lambda洽谈30亿美元融资

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来源：金十数据快讯发布时间：2026-08-25 08:10:38+08:00检索：科技产业标签：`NVDA`, AI云, 数据中心, 科技产业, AI基础设施, 美国

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知情人士称融资最高30亿美元，估值可能达到120亿美元或更高，条款未最终敲定；公司今年营收预计超过15亿美元。

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俄乌冲突与制裁更新

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来源：金十数据快讯发布时间：2026-08-25 07:38:41+08:00检索：地缘/制裁标签：俄罗斯, 乌克兰, 黑海, 石油/液化天然气, 地缘/制裁, 地缘/能源, 俄乌/欧洲

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金十整理称：俄方称击落351架乌克兰无人机、袭击敖德萨附近油轮；乌方称袭击俄军事工厂及黑海船只；欧盟拟追加对乌16亿欧元计划并讨论秋季更严制裁，英国拟提供导弹生产技术。

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美加贸易谈判破裂原因存在分歧

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来源：金十数据快讯发布时间：2026-08-25 07:33:06+08:00检索：贸易标签：`CAD`, 加拿大, 铝, 关税, 贸易, 贸易/金属, 美国/加拿大

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知情人士称美国商务部长卢特尼克施压导致谈判破裂；白宫官员否认并称加拿大在协议外提出临时要求。

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人民日报评论宏观政策取向

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来源：金十数据快讯发布时间：2026-08-25 07:20:47+08:00检索：宏观/政策标签：`CNY`, 财政政策, 货币政策, 流动性, 宏观/政策, 财政/货币, 中国

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文章称继续实施更积极财政政策和适度宽松货币政策，保持流动性充裕并支持内需、科技创新和中小企业。

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CME利率概率

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来源：金十数据快讯发布时间：2026-08-25 06:03:08+08:00检索：美联储/利率标签：`FEDFUNDS`, 联邦基金利率, 美联储/利率, 利率, 美国

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金十转述CME“美联储观察”：9月维持利率不变概率58.6%，累计加息25bp概率41.4%；10月维持不变43.0%，加息25bp概率46.0%，加息50bp概率11.0%。

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中东、制裁与霍尔木兹局势跟踪

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来源：金十数据快讯发布时间：2026-08-25 05:16:12+08:00检索：地缘/制裁/航运标签：伊朗, 霍尔木兹, 数字资产, 原油, 航运, 地缘/制裁/航运, 能源/地缘/加密政策, 中东/全球

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金十整理：美国财政部对近60个涉伊实体、个人和船只制裁，覆盖核、导弹、网络、石油网络；潜在二级制裁涉及数字资产、技术、黄金、航空和航运。伊朗列45艘油轮黑名单；胡塞称袭击沙特军队及油轮；美国防长称不排除在霍尔木兹或其他地方使用军事力量；阿曼外长拟访德黑兰；美方称石油运输畅通，伊方和船运数据仍显示风险。

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英伟达连续第七天下跌

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来源：金十数据快讯发布时间：2026-08-25 04:03:31+08:00检索：科技产业标签：`NVDA`, AI芯片, 科技产业, 股票/AI, 美国

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英伟达股价创2022年以来最长连跌纪录。

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美股收盘涨跌不一，存储概念走弱

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来源：金十数据快讯发布时间：2026-08-25 04:01:50+08:00检索：全球股市/科技标签：`DJI`, `SPX`, `IXIC`, `SKHYNIX`, `MU`, `SNDK`, `NVDA`, 道指, 标普500, 纳指, 存储芯片, 全球股市/科技

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道指初步涨0.26%，标普500跌0.28%，纳指跌0.76%；SK海力士跌4.9%、美光跌5.8%、闪迪跌6.4%，英伟达和英特尔跌约3%；纳斯达克中国金龙指数跌1.67%。

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伊朗称已准备应对美国新制裁

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来源：金十数据快讯发布时间：2026-08-25 03:51:01+08:00检索：制裁/地缘标签：伊朗金融与贸易, 数字资产, 制裁/地缘, 地缘/贸易/加密政策, 伊朗/美国

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伊朗经济和财政部长称已做好应对新制裁准备，认为美国不能完全切断伊朗金融和贸易联系；美方制裁覆盖数字资产、技术、黄金、航空和航运。

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美国财政部成立量子安全工作组

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来源：金十数据快讯发布时间：2026-08-25 03:45:46+08:00检索：科技政策/金融安全标签：后量子密码, 数字资产, 科技政策/金融安全, 科技/数字资产, 美国

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工作组推动金融业后量子密码迁移、供应链安全准备，并评估数字资产和新兴技术风险。

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美国宣布对伊朗发动经济攻势

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来源：金十数据快讯发布时间：2026-08-25 01:33:31+08:00检索：制裁/贸易标签：数字资产, 技术, 黄金, 航空, 航运, 制裁/贸易, 地缘/贸易/加密政策, 美国/伊朗

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美国财长称目标是切断伊朗与全球经济联系，重点针对数字资产、技术、黄金、航空和航运，并警告继续与伊朗开展业务的国家可能受制裁；未给出具体执行时间表。

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Vera Rubin太空平台计划

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来源：金十数据快讯发布时间：2026-08-25 01:28:24+08:00检索：科技产业标签：`NVDA`, Vera Rubin, AI算力, 科技产业, AI基础设施/航天, 美国

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马斯克称面向太空优化的英伟达Vera Rubin芯片平台将在2028年达到相当规模，Vera Rubin NVL72系统计划明年第四季度发射入轨。

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美国财政部公布潜在二级制裁行业

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来源：金十数据快讯发布时间：2026-08-25 01:04:58+08:00检索：制裁标签：数字资产, 技术, 黄金, 航空, 航运, 制裁, 地缘/贸易/加密政策, 美国/伊朗

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美国财政部称潜在二级制裁涉及数字资产、技术、黄金、航空和航运，并暂停向伊朗支付部分汇款的通用许可证。

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Lancium与英伟达合作建设AI工厂

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来源：金十数据快讯发布时间：2026-08-25 00:03:36+08:00检索：科技产业标签：`NVDA`, AI工厂, 电力, 数据中心, 科技产业, AI基础设施/电力, 美国

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Lancium称英伟达已对其战略投资，双方推进超过15GW投资组合中的吉瓦级AI工厂开发。

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德国财长将债券收益率上升归因于中东战争不确定性

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来源：金十数据快讯发布时间：2026-08-24 23:55:43+08:00检索：地缘/利率标签：欧洲债券, 天然气, 地缘/利率, 利率/能源, 德国/中东

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德国副总理兼财长称特朗普在伊朗发动的战争扰乱全球能源供应并推高债券收益率和欧洲天然气价格。

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联合国成立工作组应对霍尔木兹危机

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来源：金十数据快讯发布时间：2026-08-24 23:12:23+08:00检索：地缘/航运标签：霍尔木兹, 红海, 黑海, 石油, 化肥, 粮食, 地缘/航运, 能源/贸易/粮食, 全球

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联合国称霍尔木兹、红海和黑海航运受阻影响石油、化肥和粮食运输，工作组拟建立登记、核查、监测和冲突降级机制。

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欧洲天然气期货上涨

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来源：金十数据快讯发布时间：2026-08-24 21:10:04+08:00检索：能源标签：天然气, 能源, 能源/欧洲, 欧洲

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荷兰近月天然气期货涨5%至69.20欧元/兆瓦时。

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墨西哥二季度GDP反弹

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来源：金十数据快讯发布时间：2026-08-24 20:34:54+08:00检索：宏观数据标签：`MXN`, `GDP`, 宏观数据, 宏观/新兴市场, 墨西哥

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墨西哥统计部门最终数据：第二季度GDP环比增长1.4%，同比增长2.1%，同比略低于2.2%市场预期。

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美国7月芝加哥联储全国活动指数

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来源：金十数据快讯发布时间：2026-08-24 20:30:02+08:00检索：宏观数据标签：`US`, 经济活动指数, 宏观数据, 宏观, 美国

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指数为-0.08，前值由-0.02修正为0.06。

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美国财政部可能用TGA为美债回购提供资金

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来源：金十数据快讯发布时间：2026-08-24 19:46:01+08:00检索：财政/利率标签：`TGA`, 美债回购, 美债, 财政/利率, 利率/美元, 美国

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据CNBC引述美国财政部高级官员，财政部可能动用近1万亿美元TGA支持扩大政府债券购买计划；此前宣布将长期非指标债回购规模从20亿美元提高至至少40亿美元。

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美国10年期国债收益率回落

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来源：金十数据快讯发布时间：2026-08-24 19:42:08+08:00检索：利率标签：`US10Y`, 10年期美债, 利率, 利率/美元, 美国

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美国国债延续涨势，10年期收益率下跌4bp至4.70%。

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IEA警告欧洲今冬天然气形势

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来源：金十数据快讯发布时间：2026-08-24 19:32:48+08:00检索：能源标签：天然气, `LNG`, 能源, 能源/欧洲, 欧洲/俄罗斯/中东

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IEA署长称低库存、西亚供应中断以及俄罗斯液化天然气供应结束令欧洲今冬天然气形势令人担忧。

事实参考

以下为事实表、数据对照、账户细项与来源口径，默认折叠；需要核对数据时展开。

美股 / ETF / 公开文章事实

美股 / ETF / 公开行情

标的	IBKR 当前价	较前交易日	盘后/收盘后	上一交易日收盘	今日常规收盘
MSFT	486.77	+0.73%	-0.11%	483.24	487.31
NVDA	209.31	-2.52%	+0.40%	214.72	208.48
MRVL	230.50	-2.76%	+0.53%	237.04	229.29
GFS	46.01	-4.25%	+0.13%	48.05	45.95
APLD	27.07	-0.51%	+0.67%	27.21	26.89
USAR	18.28	-5.09%	-0.05%	19.26	18.29
SOXX	508.43	-2.23%	+0.44%	520.05	506.18
SOXL	112.41	-6.79%	+1.12%	120.60	111.16
FTXL	219.50	-2.95%	0.00%	226.17	219.50
PSI	134.06	-3.49%	-0.00%	138.91	134.06
DRAM	54.21	-6.02%	-0.13%	57.68	54.28
KMEM	17.92	-5.88%	-0.06%	19.04	17.93
VRT	255.42	-2.49%	+0.18%	261.95	254.97
COHR	276.25	-4.58%	+0.28%	289.52	275.49
CRCL	89.60	+1.84%	+2.14%	87.98	87.72
SPCX	135.65	-0.96%	+0.48%	136.97	135.00
GOOG	344.36	+0.76%	-0.07%	341.75	344.59
NBIS	212.25	-3.14%	+0.64%	219.13	210.91
PLTR	175.20	-2.63%	-0.39%	179.94	175.89
XLV	174.63	+0.01%	-0.04%	174.62	174.70

美股事实与文章索引

标的	IBKR 当前价	较前交易日	盘后/收盘后	文章数	数据缺口
MSFT	486.77	+0.73%	-0.11%	8 条	-
NVDA	209.31	-2.52%	+0.40%	8 条	-
MRVL	230.50	-2.76%	+0.53%	8 条	-
GFS	46.01	-4.25%	+0.13%	8 条	-
APLD	27.07	-0.51%	+0.67%	8 条	-
USAR	18.28	-5.09%	-0.05%	8 条	-
SOXX	508.43	-2.23%	+0.44%	8 条	-
SOXL	112.41	-6.79%	+1.12%	8 条	-
FTXL	219.50	-2.95%	0.00%	8 条	-
PSI	134.06	-3.49%	-0.00%	8 条	-
DRAM	54.21	-6.02%	-0.13%	8 条	-
KMEM	17.92	-5.88%	-0.06%	8 条	-
VRT	255.42	-2.49%	+0.18%	8 条	-
COHR	276.25	-4.58%	+0.28%	8 条	-
CRCL	89.60	+1.84%	+2.14%	8 条	-
SPCX	135.65	-0.96%	+0.48%	8 条	-
GOOG	344.36	+0.76%	-0.07%	8 条	-
NBIS	212.25	-3.14%	+0.64%	8 条	-
PLTR	175.20	-2.63%	-0.39%	8 条	-
XLV	174.63	+0.01%	-0.04%	8 条	-

美股事实摘要

• 报价事实：上涨 4 / 下跌 16 / 震荡 0；广度 20.00%；平均较前交易日 -2.65%。
• 公开新闻/财报讨论覆盖：20 / 20 个标的；新闻条目 160 条。

公开数据对照

标的	IBKR 当前价	K线收盘	K线来源	差异	5D	20D	K线行数
MSFT	486.77	487.31	Yahoo Finance chart API	-0.11%	+1.45%	+25.24%	172
NVDA	209.31	208.48	Yahoo Finance chart API	+0.40%	-7.35%	+6.09%	508
MRVL	230.50	229.29	Yahoo Finance chart API	+0.53%	-2.15%	+21.21%	172
GFS	46.01	45.95	Yahoo Finance chart API	+0.13%	-14.02%	-13.60%	172
APLD	27.07	26.89	Yahoo Finance chart API	+0.67%	-13.76%	+1.95%	172
USAR	18.28	18.29	Yahoo Finance chart API	-0.05%	-5.18%	+22.51%	172
SOXX	508.43	506.18	Yahoo Finance chart API	+0.44%	-9.47%	-1.95%	293
SOXL	112.41	111.16	Yahoo Finance chart API	+1.12%	-26.64%	-13.26%	172
FTXL	219.50	219.50	Yahoo Finance chart API	0.00%	-9.98%	-2.64%	293
PSI	134.06	134.06	Yahoo Finance chart API	+0.00%	-14.83%	-3.85%	293
DRAM	54.21	54.28	Yahoo Finance chart API	-0.13%	-10.12%	+3.53%	99
KMEM	17.92	17.93	Yahoo Finance chart API	-0.08%	-9.19%	+3.49%	38
VRT	255.42	254.97	Yahoo Finance chart API	+0.18%	-12.81%	-11.35%	508
COHR	276.25	275.49	Yahoo Finance chart API	+0.28%	-21.56%	+1.54%	290
CRCL	89.60	87.72	Yahoo Finance chart API	+2.14%	+17.60%	+33.58%	289
SPCX	135.65	135.00	Yahoo Finance chart API	+0.48%	-7.68%	+18.94%	50
GOOG	344.36	344.59	Yahoo Finance chart API	-0.07%	+0.92%	+5.52%	172
NBIS	212.25	210.91	Yahoo Finance chart API	+0.64%	-21.55%	+12.26%	172
PLTR	175.20	175.89	Yahoo Finance chart API	-0.39%	+1.94%	+33.73%	132
XLV	174.63	174.70	Yahoo Finance chart API	-0.04%	+4.58%	+6.92%	290

期权链事实

观察标的：MSFT, NVDA, MRVL, GFS, APLD, USAR, SOXX, SOXL, FTXL, PSI, DRAM, KMEM, VRT, COHR, CRCL, SPCX, GOOG, SPY, QQQ, PLTR, NBIS, XLV

来源：Yahoo Finance 公开期权链

覆盖：21 / 22 个观察标的。

标的	Yahoo ATM IV	IBKR ATM IV	25Δ Skew(P-C)	Skew到期	Greeks覆盖	Put/Call Vol	Put/Call OI	Max Pain	最大OI	期限结构	Vol/OI异常	大单数	新闻数
MSFT	28.33%	N/A	N/A	N/A	N/A	0.75	0.53	475.00	C 550.00 (53,855) / P 300.00 (9,672)	8D 28.33% / 31D 27.08% / 52D 27.35% / 87D 31.97%	1		5
NVDA	54.04%	N/A	N/A	N/A	N/A	0.41	0.81	212.50	C 180.00 (106,268) / P 180.00 (62,089)	8D 54.04% / 31D 41.22% / 52D 39.05% / 87D 40.17%	8		5
MRVL	97.16%	N/A	N/A	N/A	N/A	0.56	1.12	215.00	C 250.00 (8,021) / P 100.00 (8,327)	10D 97.16% / 31D 78.27% / 52D 77.40% / 87D 76.28%	1		5
GFS	57.69%	N/A	N/A	N/A	N/A	0.12	0.91	55.00	C 60.00 (4,338) / P 45.00 (4,770)	24D 57.69% / 52D 59.55% / 143D 64.42% / 206D 66.32%	0	0	5
APLD	87.01%	N/A	N/A	N/A	N/A	0.57	0.54	27.50	C 40.00 (6,429) / P 25.00 (3,299)	10D 87.01% / 31D 82.13% / 38D 85.79% / 52D 95.73%	0	0	5
USAR	88.53%	N/A	N/A	N/A	N/A	0.34	0.76	17.50	C 24.00 (6,867) / P 16.00 (8,014)	10D 88.53% / 31D 89.45% / 52D 89.40% / 115D 91.31%	0	0	5
SOXX	50.12%	N/A	N/A	N/A	N/A	2.32	0.82	525.00	C 650.00 (5,979) / P 462.50 (3,423)	10D 50.12% / 31D 43.04% / 52D 45.26% / 87D 44.87%	2		5
SOXL	132.26%	N/A	N/A	N/A	N/A	0.99	2.20	120.00	C 425.00 (1,842) / P 20.00 (4,536)	8D 132.26% / 31D 122.03% / 52D 125.85% / 87D 126.76%	8		5
FTXL	48.63%	N/A	N/A	N/A	N/A	0.27	0.17	225.00	C 280.00 (242) / P 250.00 (24)	24D 48.63% / 52D 49.16% / 115D 50.66% / 206D 53.75%	0	0	5
PSI	54.44%	N/A	N/A	N/A	N/A	0.31	0.47	147.00	C 147.00 (46) / P 148.00 (41)	24D 54.44% / 52D 54.49% / 87D 51.73% / 178D 50.45%	0	0	5
DRAM	66.80%	N/A	N/A	N/A	N/A	0.44	0.54	58.00	C 122.00 (44,357) / P 55.00 (38,478)	8D 66.80% / 31D 68.40% / 52D 70.20% / 87D 69.54%	4		5
VRT	59.13%	N/A	N/A	N/A	N/A	1.73	1.54	270.00	C 250.00 (2,010) / P 215.00 (10,316)	10D 59.13% / 31D 56.55% / 52D 56.18% / 87D 60.98%	1	0	5
COHR	82.16%	N/A	N/A	N/A	N/A	1.09	1.56	307.50	C 400.00 (1,438) / P 240.00 (2,242)	10D 82.16% / 31D 76.67% / 52D 78.27% / 87D 80.41%	1		5
CRCL	86.33%	N/A	N/A	N/A	N/A	0.75	0.98	70.00	C 120.00 (5,808) / P 45.00 (4,220)	10D 86.33% / 31D 78.82% / 52D 83.27% / 87D 83.29%	3	0	5
SPCX	59.25%	N/A	N/A	N/A	N/A	0.63	1.36	130.00	C 160.00 (17,739) / P 100.00 (43,807)	10D 59.25% / 31D 57.53% / 52D 58.23% / 87D 61.69%	8		5
GOOG	30.78%	N/A	N/A	N/A	N/A	0.49	0.87	340.00	C 365.00 (14,528) / P 305.00 (10,418)	10D 30.78% / 31D 30.45% / 52D 30.92% / 87D 34.87%	0	0	5
SPY	12.05%	N/A	N/A	N/A	N/A	1.17	6.97	766.00	C 875.00 (23,149) / P 500.00 (302,474)	7D 12.05% / 31D 13.09% / 66D 14.56% / 87D 14.75%	8		0
QQQ	18.87%	N/A	N/A	N/A	N/A	0.81	1.16	715.00	C 1,085.00 (27,835) / P 725.00 (13,283)	7D 18.87% / 31D 19.98% / 66D 20.96% / 87D 21.70%	8		0
PLTR	49.62%	N/A	N/A	N/A	N/A	0.88	1.11	167.50	C 170.00 (14,670) / P 100.00 (12,503)	10D 49.62% / 31D 47.66% / 52D 48.23% / 87D 55.52%	3		5
NBIS	95.53%	N/A	N/A	N/A	N/A	0.62	1.31	235.00	C 310.00 (2,668) / P 190.00 (3,859)	10D 95.53% / 31D 92.65% / 52D 91.17% / 87D 97.68%	7		5
XLV	41.28%	N/A	N/A	N/A	N/A	0.40	1.46	162.00	C 170.00 (1,981) / P 160.00 (4,057)	10D 41.28% / 31D 27.96% / 52D 22.76% / 87D 25.49%	0		5

最新大单 / 异常成交

大单活动只保留最近一次成功的 Yahoo 期权链快照，不是逐笔成交 tape。 当前显示：本次快照 Top 80。

观察时间	标的	合约	方向	Strike	到期	Volume	OI	IV	Vol/OI	估算权利金
2026-08-25 03:09:17.053Z	QQQ	QQQ261120P00880000	put	880.00	2026-11-20	1,680	0	24.93%	N/A	$29,107,680
2026-08-25 03:09:17.053Z	QQQ	QQQ261120P00820000	put	820.00	2026-11-20	1,210	0	18.34%	N/A	$13,705,065
2026-08-25 03:09:17.053Z	NVDA	NVDA261016C00220000	call	220.00	2026-10-16	15,017	93,998	40.14%	0.16	$12,088,685
2026-08-25 03:09:17.053Z	PLTR	PLTR261120P00330000	put	330.00	2026-11-20	536	325	180.63%	1.65	$9,783,340
2026-08-25 03:09:17.053Z	NVDA	NVDA261120C00205000	call	205.00	2026-11-20	4,368	6,994	42.80%	0.62	$8,299,200
2026-08-25 03:09:17.053Z	SOXL	SOXL261016C00110000	call	110.00	2026-10-16	3,702	73	123.46%	50.71	$7,829,730
2026-08-25 03:09:17.053Z	NVDA	NVDA261120P00205000	put	205.00	2026-11-20	4,175	4,125	38.28%	1.01	$5,709,313
2026-08-25 03:09:17.053Z	NVDA	NVDA261016P00215000	put	215.00	2026-10-16	3,457	7,437	37.35%	0.46	$5,332,423
2026-08-25 03:09:17.053Z	SPCX	SPCX260904P00135000	put	135.00	2026-09-04	9,182	1,688	58.33%	5.44	$5,004,190
2026-08-25 03:09:17.053Z	NBIS	NBIS260904C00215000	call	215.00	2026-09-04	4,013	227	97.09%	17.68	$4,956,055
2026-08-25 03:09:17.053Z	QQQ	QQQ261120P00715000	put	715.00	2026-11-20	1,602	1,313	18.60%	1.22	$4,859,667
2026-08-25 03:09:17.053Z	NBIS	NBIS260904C00190000	call	190.00	2026-09-04	1,835	89	93.43%	20.62	$4,771,000
2026-08-25 03:09:17.053Z	QQQ	QQQ261120P00680000	put	680.00	2026-11-20	2,697	11,043	21.39%	0.24	$4,756,159
2026-08-25 03:09:17.053Z	NBIS	NBIS260904C00207500	call	207.50	2026-09-04	3,049	0	93.81%	N/A	$4,680,215
2026-08-25 03:09:17.053Z	NVDA	NVDA261016C00230000	call	230.00	2026-10-16	8,439	35,432	39.91%	0.24	$4,346,085
2026-08-25 03:09:17.053Z	NVDA	NVDA261016P00205000	put	205.00	2026-10-16	4,194	16,943	37.93%	0.25	$4,256,910
2026-08-25 03:09:17.053Z	NVDA	NVDA261016P00210000	put	210.00	2026-10-16	3,266	10,025	37.53%	0.33	$4,115,160
2026-08-25 03:09:17.053Z	QQQ	QQQ261120C00710000	call	710.00	2026-11-20	1,285	1,644	23.58%	0.78	$3,953,303
2026-08-25 03:09:17.053Z	DRAM	DRAM261120C00055000	call	55.00	2026-11-20	5,349	4,568	72.12%	1.17	$3,918,142
2026-08-25 03:09:17.053Z	QQQ	QQQ261030P00850000	put	850.00	2026-10-30	267	0	23.53%	N/A	$3,828,513
2026-08-25 03:09:17.053Z	QQQ	QQQ261120C00480000	call	480.00	2026-11-20	164	81	56.08%	2.02	$3,807,014
2026-08-25 03:09:17.053Z	SOXL	SOXL260925C00107000	call	107.00	2026-09-25	2,126	0	119.81%	N/A	$3,725,815
2026-08-25 03:09:17.053Z	SPCX	SPCX260904C00145000	call	145.00	2026-09-04	17,309	1,982	60.06%	8.73	$3,695,471
2026-08-25 03:09:17.053Z	NVDA	NVDA261016C00210000	call	210.00	2026-10-16	3,058	13,381	40.58%	0.23	$3,692,535
2026-08-25 03:09:17.053Z	MRVL	MRVL260904C00170000	call	170.00	2026-09-04	600	856	107.18%	0.70	$3,607,500
2026-08-25 03:09:17.053Z	PLTR	PLTR261016C00075000	call	75.00	2026-10-16	350	698	122.71%	0.50	$3,556,000
2026-08-25 03:09:17.053Z	PLTR	PLTR261120P00400000	put	400.00	2026-11-20	137	0	0.00%	N/A	$3,451,441
2026-08-25 03:09:17.053Z	QQQ	QQQ261120C00760000	call	760.00	2026-11-20	3,356	3,453	20.51%	0.97	$3,354,322
2026-08-25 03:09:17.053Z	NVDA	NVDA261016C00225000	call	225.00	2026-10-16	5,169	10,866	39.94%	0.48	$3,334,005
2026-08-25 03:09:17.053Z	PLTR	PLTR261120C00155000	call	155.00	2026-11-20	1,017	1,988	60.55%	0.51	$3,226,433
2026-08-25 03:09:17.053Z	MSFT	MSFT261016C00490000	call	490.00	2026-10-16	1,645	5,368	28.78%	0.31	$3,220,088
2026-08-25 03:09:17.053Z	COHR	COHR260904P00405000	put	405.00	2026-09-04	244	140	95.70%	1.74	$3,164,680
2026-08-25 03:09:17.053Z	SPY	SPY261120P00770000	put	770.00	2026-11-20	1,405	9,860	12.42%	0.14	$3,098,025
2026-08-25 03:09:17.053Z	NVDA	NVDA261016P00200000	put	200.00	2026-10-16	3,786	25,560	38.25%	0.15	$3,038,265
2026-08-25 03:09:17.053Z	XLV	XLV260904C00090000	call	90.00	2026-09-04	356	4	251.17%	89.00	$3,005,530
2026-08-25 03:09:17.053Z	NVDA	NVDA261120P00210000	put	210.00	2026-11-20	1,835	9,105	37.95%	0.20	$2,968,113
2026-08-25 03:09:17.053Z	XLV	XLV260904C00095000	call	95.00	2026-09-04	356	57	143.36%	6.25	$2,839,990
2026-08-25 03:09:17.053Z	NVDA	NVDA261016C00250000	call	250.00	2026-10-16	14,063	48,705	40.10%	0.29	$2,777,443
2026-08-25 03:09:17.053Z	NVDA	NVDA261120C00210000	call	210.00	2026-11-20	1,628	10,499	42.40%	0.16	$2,686,200
2026-08-25 03:09:17.053Z	COHR	COHR260904C00265000	call	265.00	2026-09-04	1,240	7	83.41%	177.14	$2,653,600
2026-08-25 03:09:17.053Z	QQQ	QQQ261030P00855000	put	855.00	2026-10-30	178	0	24.73%	N/A	$2,641,787
2026-08-25 03:09:17.053Z	NVDA	NVDA260925P00210000	put	210.00	2026-09-25	2,425	1,600	40.37%	1.52	$2,576,563
2026-08-25 03:09:17.053Z	QQQ	QQQ261030P00708000	put	708.00	2026-10-30	1,087	18	18.82%	60.39	$2,553,363
2026-08-25 03:09:17.053Z	MRVL	MRVL260904C00215000	call	215.00	2026-09-04	1,046	1,262	98.94%	0.83	$2,447,640
2026-08-25 03:09:17.053Z	QQQ	QQQ261120P00705000	put	705.00	2026-11-20	936	1,647	19.39%	0.57	$2,434,536
2026-08-25 03:09:17.053Z	QQQ	QQQ261030P00707000	put	707.00	2026-10-30	1,036	25	18.92%	41.44	$2,391,088
2026-08-25 03:09:17.053Z	DRAM	DRAM261120C00060000	call	60.00	2026-11-20	4,249	11,611	72.01%	0.37	$2,326,328
2026-08-25 03:09:17.053Z	NVDA	NVDA260925C00230000	call	230.00	2026-09-25	7,020	1,767	41.58%	3.97	$2,228,850
2026-08-25 03:09:17.053Z	NVDA	NVDA261016P00195000	put	195.00	2026-10-16	3,485	23,166	38.65%	0.15	$2,178,125
2026-08-25 03:09:17.053Z	MSFT	MSFT261120C00390000	call	390.00	2026-11-20	203	1,237	47.87%	0.16	$2,133,530
2026-08-25 03:09:17.053Z	QQQ	QQQ260925C00733000	call	733.00	2026-09-25	3,574	3,506	18.68%	1.02	$2,114,021
2026-08-25 03:09:17.053Z	NVDA	NVDA261120C00215000	call	215.00	2026-11-20	1,483	6,477	42.06%	0.23	$2,113,275
2026-08-25 03:09:17.053Z	SPY	SPY261030P00725000	put	725.00	2026-10-30	2,850	1,591	16.79%	1.79	$2,103,300
2026-08-25 03:09:17.053Z	NVDA	NVDA260925C00215000	call	215.00	2026-09-25	2,779	2,896	41.97%	0.96	$2,070,355
2026-08-25 03:09:17.053Z	NVDA	NVDA260925C00210000	call	210.00	2026-09-25	2,075	312	42.07%	6.65	$1,986,813
2026-08-25 03:09:17.053Z	QQQ	QQQ261120P00955000	put	955.00	2026-11-20	80	0	32.16%	N/A	$1,986,080
2026-08-25 03:09:17.053Z	SOXX	SOXX261120P00630000	put	630.00	2026-11-20	150	189	42.94%	0.79	$1,931,250
2026-08-25 03:09:17.053Z	MRVL	MRVL261016P00370000	put	370.00	2026-10-16	135	135	73.19%	1.00	$1,918,688
2026-08-25 03:09:17.053Z	MSFT	MSFT261120P00660000	put	660.00	2026-11-20	94	0	0.00%	N/A	$1,871,070
2026-08-25 03:09:17.053Z	NVDA	NVDA260902C00207500	call	207.50	2026-09-02	2,442	4	54.50%	610.50	$1,855,920
2026-08-25 03:09:17.053Z	PLTR	PLTR261120P00380000	put	380.00	2026-11-20	80	0	0.00%	N/A	$1,855,520
2026-08-25 03:09:17.053Z	PLTR	PLTR261016C00085000	call	85.00	2026-10-16	200	261	119.60%	0.77	$1,843,500
2026-08-25 03:09:17.053Z	QQQ	QQQ261120C00715000	call	715.00	2026-11-20	655	816	23.17%	0.80	$1,832,035
2026-08-25 03:09:17.053Z	NVDA	NVDA261120C00220000	call	220.00	2026-11-20	1,493	16,219	41.80%	0.09	$1,828,925
2026-08-25 03:09:17.053Z	SPCX	SPCX260904C00135000	call	135.00	2026-09-04	3,214	1,391	60.18%	2.31	$1,807,875
2026-08-25 03:09:17.053Z	QQQ	QQQ261120P00795000	put	795.00	2026-11-20	197	620	16.14%	0.32	$1,758,718
2026-08-25 03:09:17.053Z	PLTR	PLTR260904C00180000	call	180.00	2026-09-04	4,127	6,747	50.24%	0.61	$1,753,975
2026-08-25 03:09:17.053Z	NVDA	NVDA260925P00230000	put	230.00	2026-09-25	704	1,505	42.29%	0.47	$1,708,960
2026-08-25 03:09:17.053Z	NVDA	NVDA261016P00220000	put	220.00	2026-10-16	880	50,523	37.29%	0.02	$1,639,000
2026-08-25 03:09:17.053Z	NVDA	NVDA261120P00185000	put	185.00	2026-11-20	2,569	9,469	40.16%	0.27	$1,637,738
2026-08-25 03:09:17.053Z	SPCX	SPCX260904C00139000	call	139.00	2026-09-04	4,099	900	59.86%	4.55	$1,598,610
2026-08-25 03:09:17.053Z	SPCX	SPCX261016P00135000	put	135.00	2026-10-16	1,382	15,497	56.40%	0.09	$1,596,210
2026-08-25 03:09:17.053Z	NVDA	NVDA261016C00180000	call	180.00	2026-10-16	474	106,268	46.30%	0.00	$1,520,355
2026-08-25 03:09:17.053Z	NVDA	NVDA261120P00200000	put	200.00	2026-11-20	1,326	40,553	38.61%	0.03	$1,518,270
2026-08-25 03:09:17.053Z	SPY	SPY260901C00752000	call	752.00	2026-09-01	1,064	15	15.92%	70.93	$1,499,708
2026-08-25 03:09:17.053Z	QQQ	QQQ261120C00620000	call	620.00	2026-11-20	149	20	35.27%	7.45	$1,490,894
2026-08-25 03:09:17.053Z	NVDA	NVDA261016C00215000	call	215.00	2026-10-16	1,494	15,942	40.27%	0.09	$1,475,325
2026-08-25 03:09:17.053Z	DRAM	DRAM261016C00060000	call	60.00	2026-10-16	3,964	18,654	70.97%	0.21	$1,466,680
2026-08-25 03:09:17.053Z	SPY	SPY260925C00768000	call	768.00	2026-09-25	1,503	504	13.11%	2.98	$1,458,662
2026-08-25 03:09:17.053Z	NVDA	NVDA261120C00230000	call	230.00	2026-11-20	1,618	24,376	41.49%	0.07	$1,452,155

技术指标事实

标的	类型	Benchmark	最新价	Strength	日线九转	1H 支撑 / 压力	4H 支撑 / 压力	1D 支撑 / 压力	数据限制
MSFT	美股/ETF	SPY	487.2800	7.94	高序列第2根	486.3313 (-0.19%；摆动高点/MA30/MA20) / 491.3109 (+0.83%；摆动高点/布林上轨/区间极值)	484.2781 (-0.62%；摆动低点/MA20/布林中轨) / 490.8744 (+0.74%；摆动低点/布林上轨/摆动高点)	483.5280 (-0.78%；MA5) / 490.0855 (+0.57%；MA10/摆动低点)	-
NVDA	美股/ETF	SPY	208.9000	-1.40	低序列第5根	208.8407 (-0.03%；摆动低点/MA5/MA10) / 212.2093 (+1.58%；摆动高点/MA20/布林中轨)	198.7000 (-4.88%；摆动高点) / 209.4307 (+0.25%；布林下轨)	202.8262 (-2.71%；MA120/摆动低点) / 208.5684 (+0.04%；MA60/摆动低点)	-
MRVL	美股/ETF	SPY	227.5700	13.11	高序列第4根	225.0100 (-1.12%；摆动高点) / 228.3823 (+0.36%；摆动低点/MA10/MA5)	226.1600 (-0.62%；摆动高点) / 230.2225 (+1.17%；摆动低点/摆动高点/MA5)	227.8530 (-0.63%；MA10) / 230.1000 (+0.35%；摆动高点)	-
GFS	美股/ETF	SPY	45.8800	-17.38	低序列第5根	45.5367 (-0.75%；摆动低点/区间极值) / 46.0015 (+0.26%；MA5/MA10)	45.4556 (-0.93%；摆动低点/区间极值/布林下轨) / 46.5510 (+1.46%；摆动低点/MA5)	45.5625 (-0.84%；区间极值/布林下轨) / 46.3900 (+0.96%；摆动低点)	-
APLD	美股/ETF	SPY	26.8500	-12.92	低序列第5根	26.5866 (-0.98%；布林下轨/摆动低点) / 26.9326 (+0.31%；MA5/摆动低点/MA20)	26.6400 (-0.78%；摆动低点) / 26.9497 (+0.37%；摆动低点/MA5)	26.6400 (-0.93%；摆动低点) / 27.9340 (+3.88%；MA5/摆动低点)	-
USAR	美股/ETF	SPY	18.2500	-2.85	低序列第4根	18.2440 (-0.03%；摆动低点/MA60/MA10) / 18.4200 (+0.93%；摆动高点/摆动低点)	17.9875 (-1.44%；摆动低点/摆动高点) / 18.3006 (+0.28%；摆动低点/MA20/布林中轨)	18.2520 (-0.21%；MA5) / 18.6480 (+1.96%；MA10)	-
SOXX	美股/ETF	SPY	505.5000	-5.61	低序列第5根	498.5749 (-1.37%；布林下轨/摆动低点/区间极值) / 507.6699 (+0.43%；摆动低点/MA10/MA5)	503.8857 (-0.32%；布林下轨) / 514.1585 (+1.71%；MA5/摆动低点/MA10)	497.1250 (-1.79%；摆动低点) / 515.4500 (+1.83%；摆动低点)	-
SOXL	美股/ETF	SPY	110.2800	-21.93	低序列第5根	105.7322 (-4.12%；布林下轨/摆动低点/区间极值) / 110.3193 (+0.04%；摆动低点/MA10/MA5)	108.9559 (-1.20%；布林下轨) / 112.6700 (+2.17%；摆动高点)	102.0900 (-8.16%；摆动低点) / 116.4700 (+4.78%；摆动低点)	-
FTXL	美股/ETF	SPY	219.5000	-6.70	低序列第5根	219.1393 (-0.16%；摆动低点/MA10/MA5) / 221.6343 (+0.97%；摆动高点/MA20/布林中轨)	217.6900 (-0.82%；摆动低点) / 221.0800 (+0.72%；MA5)	218.6765 (-0.38%；MA120) / 220.7700 (+0.58%；摆动低点)	-
PSI	美股/ETF	SPY	134.0600	-7.82	低序列第5根	133.7683 (-0.22%；摆动低点/MA10/MA5) / 135.8814 (+1.36%；摆动高点/MA20/布林中轨)	131.0930 (-2.21%；摆动高点/布林下轨/摆动低点) / 135.2440 (+0.88%；MA5)	125.2087 (-6.60%；布林下轨) / 135.2400 (+0.88%；摆动低点)	-
DRAM	美股/ETF	SPY	53.7900	2.52	低序列第2根	53.1300 (-1.23%；摆动低点/区间极值) / 54.2962 (+0.94%；MA5/MA10/摆动低点)	53.1666 (-1.16%；摆动低点/布林下轨) / 53.8267 (+0.07%；摆动低点/MA120)	54.2340 (-0.08%；MA30/摆动低点) / 55.3400 (+1.95%；摆动高点/摆动低点)	-
KMEM	美股/ETF	SPY	17.9200	N/A	低序列第2根	17.5700 (-1.95%；摆动低点/区间极值) / 18.0038 (+0.47%；MA5/MA10/摆动低点)	17.6090 (-1.74%；MA120/摆动低点/摆动高点) / 17.9425 (+0.13%；摆动高点/摆动低点)	17.8143 (-0.65%；MA30) / 17.9500 (+0.11%；摆动低点)	1D 少于 60 根K线
VRT	美股/ETF	SPY	254.0100	-10.58	低序列第5根	249.9237 (-1.61%；布林下轨/摆动低点/区间极值) / 254.1688 (+0.06%；摆动低点/MA10/MA5)	250.8756 (-1.23%；布林下轨/摆动低点/摆动高点) / 256.6600 (+1.04%；摆动低点/MA5)	229.8147 (-9.87%；布林下轨) / 263.0180 (+3.16%；MA5)	-
COHR	美股/ETF	SPY	272.5000	-13.16	低序列第5根	265.2374 (-2.67%；布林下轨) / 274.6038 (+0.77%；摆动低点/MA5/MA10)	263.4665 (-3.32%；摆动低点/布林下轨) / 277.5390 (+1.85%；MA5/摆动低点)	255.1400 (-7.39%；摆动低点) / 289.7880 (+5.19%；MA5)	-
CRCL	美股/ETF	SPY	87.5000	21.09	高序列第9根已完成，延续4根	87.2853 (-0.25%；摆动低点/MA5) / 88.4522 (+1.09%；MA20/MA30/布林中轨)	87.4740 (-0.03%；MA10) / 88.4280 (+1.06%；MA5)	87.2530 (-0.53%；布林上轨/摆动高点) / 90.3584 (+3.01%；MA120)	-
SPCX	美股/ETF	SPY	135.0300	N/A	低序列第5根	133.2454 (-1.32%；摆动低点/布林下轨) / 135.2486 (+0.16%；摆动低点/摆动高点/MA5)	133.3419 (-1.25%；摆动低点/MA60) / 135.5130 (+0.36%；MA10/摆动低点/MA5)	130.3900 (-3.41%；摆动低点) / 137.7920 (+2.07%；MA5)	1D 少于 60 根K线
GOOG	美股/ETF	SPY	344.6800	-2.68	高序列第2根	342.6308 (-0.59%；摆动低点/摆动高点/MA60) / 347.4444 (+0.80%；MA10/摆动高点/区间极值)	342.3840 (-0.67%；MA20/布林中轨/MA30) / 347.0415 (+0.69%；摆动高点/布林上轨/MA120)	341.6512 (-0.85%；摆动低点/MA5/MA10) / 347.3972 (+0.81%；MA120/MA30/MA20)	-
PLTR	美股/ETF	SPY	175.5800	14.24	高序列第2根	174.5147 (-0.61%；摆动低点/摆动高点/布林下轨) / 176.6964 (+0.64%；MA5/MA60/摆动高点)	171.7866 (-2.16%；MA60/摆动低点) / 175.7618 (+0.10%；摆动高点/MA20/布林中轨)	175.0570 (-0.47%；MA10/MA5) / 179.8900 (+2.27%；摆动高点)	-
NBIS	美股/ETF	SPY	210.2000	8.99	低序列第5根	209.3883 (-0.39%；摆动低点/MA10) / 211.8295 (+0.78%；MA5/摆动低点/MA20)	209.0179 (-1.20%；摆动高点/MA120) / 212.0400 (+0.23%；摆动低点)	208.3300 (-1.22%；MA30) / 214.6250 (+1.76%；MA20/布林中轨)	-
XLV	美股/ETF	SPY	174.4600	6.48	高序列第5根	172.5133 (-1.12%；MA120/摆动低点/摆动高点) / 174.6706 (+0.12%；布林下轨/摆动低点/MA60)	173.7338 (-0.42%；MA20/布林中轨/摆动低点) / 176.0525 (+0.91%；摆动高点/区间极值)	173.4240 (-0.73%；MA5) / 176.2980 (+0.91%；布林上轨/摆动高点/区间极值)	-
BTCUSDT	Crypto	BTCUSDT	80,871.9000	0.00	高序列第9根完成	79,793.7500 (-1.33%；MA10/摆动高点/MA5) / 81,003.7434 (+0.16%；布林上轨/区间极值)	79,921.3065 (-1.18%；布林上轨/摆动高点) / 81,270.5000 (+0.49%；区间极值)	79,555.5000 (-1.63%；摆动高点) / 81,177.1792 (+0.38%；布林上轨/区间极值)	自身为基准
ETHUSDT	Crypto	BTCUSDT	2,512.4600	9.51	低序列第1根	2,483.2084 (-1.16%；摆动低点/MA30/摆动高点) / 2,527.2740 (+0.59%；布林上轨/摆动高点)	2,487.1580 (-1.00%；摆动高点/MA5) / 2,529.3705 (+0.68%；布林上轨/摆动高点)	2,478.6560 (-1.34%；MA5) / 2,549.4000 (+1.48%；摆动高点/区间极值)	-
SOLUSDT	Crypto	BTCUSDT	101.4500	8.15	高序列第8根	100.6240 (-0.81%；摆动高点/MA5) / 101.6937 (+0.24%；布林上轨)	100.5400 (-0.90%；摆动高点) / 102.8400 (+1.37%；摆动高点/区间极值)	100.5290 (-0.92%；布林上轨) / 102.8400 (+1.36%；摆动高点/区间极值)	-

账户、公开补充与来源

IBKR 账户与保证金

| --- |--- | | 已连接 |是 | | 持仓数 |已隐藏 | | 错误数 |0 |

| --- |--- |--- |--- | | 已隐藏 |AvailableFunds |已隐藏 |USD | | 已隐藏 |BuyingPower |已隐藏 |USD | | 已隐藏 |GrossPositionValue |已隐藏 |USD | | 已隐藏 |InitMarginReq |已隐藏 |USD | | 已隐藏 |MaintMarginReq |已隐藏 |USD |

持仓上下文

• 已隐藏
• 已隐藏
• 已隐藏

数据源列表

• Binance 合约市场数据
• IBKR 行情数据
• IBKR 账户与持仓数据
• Merkl 官方奖励数据
• Yahoo Finance 公开期权链
• Yahoo Finance 历史行情
• Yahoo Finance 新闻检索
• 金十数据快讯事实雷达