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2026-08-03

1. The four major US cloud providers—Google, Microsoft, Amazon, and Meta—continued to significantly increase their AI capital expenditure forecasts. Combined capital expenditures are projected to exceed $860 billion in 2026, representing a year-on-ye

1. The four major US cloud providers—Google, Microsoft, Amazon, and Meta—continued to significantly increase their AI capital expenditure forecasts. Combined capital expenditures are projected to exceed $860 billion in 2026, representing a year-on-year increase of approximately 80%; and are expected to further rise to approximately $1.2 trillion in 2027, a year-on-year increase of approximately 38%. 2. This expansion is not solely based on optimistic expectations, but is supported by a backlog of over $2.3 trillion in long-term customer contracts and orders, representing a quarterly increase of approximately 16%, indicating significantly improved demand visibility. 3. AI sales at each company continue to maintain high growth rates of 80%-100%, and profit margins for both cloud and AI businesses are improving. The short-term cost is pressure on free cash flow. As capital expenditures rise to over 100%-115% of operating cash flow, the industry's free cash flow margin is projected to fall to approximately -1% in 2026, and further to -5% to -6% in 2027-2028. However, it is expected to recover thereafter as returns on AI investments materialize. 4. The five largest hyperscale manufacturers have raised approximately $270 billion this year, primarily through long-term debt and equity financing. This is largely to optimize balance sheets and maintain liquidity, and does not necessarily indicate a tight cash flow. 5. The main beneficiaries in the industry chain include computing chips, storage, semiconductor equipment, power semiconductors, and optical communications. (Source: Bank of America)
2026-08-03

On Aug. 3, MiniMax open‑sourced its next‑generation multimodal generative model MiniMaxH3. Muxi said its Xiyun C‑series GPUs were first to complete Day‑0 adaptation for the model. Xiyun C‑series is built on Muxi’s self‑developed GPU IP and is positio

On Aug. 3, MiniMax open‑sourced its next‑generation multimodal generative model MiniMaxH3. Muxi said its Xiyun C‑series GPUs were first to complete Day‑0 adaptation for the model. Xiyun C‑series is built on Muxi’s self‑developed GPU IP and is positioned as high energy‑efficiency and broadly compatible hardware aimed at ultra‑large parameter workloads and long‑context inference for large models.
2026-08-03

Cuba's state power company said the national power system is down.

Cuba's state power company said the national power system is down.
2026-08-03

Cuba's national power company: The national power system has been shut down.

Cuba's national power company: The national power system has been shut down.
2026-08-03

The overnight SHIBOR was 1.4130%, up 0.3 basis points; the 7-day SHIBOR was 1.4310%, down 2.2 basis points; and the 3-month SHIBOR was 1.4300%, unchanged from the previous day. Click to view >>

The overnight SHIBOR was 1.4130%, up 0.3 basis points; the 7-day SHIBOR was 1.4310%, down 2.2 basis points; and the 3-month SHIBOR was 1.4300%, unchanged from the previous day. Click to view >>
2026-08-03

A-share-listed Changxin Technology posted trading turnover of 20.0 bln yuan and was trading up 2.37%.

A-share-listed Changxin Technology posted trading turnover of 20.0 bln yuan and was trading up 2.37%.
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