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AI investment enters a critical verification phase, autonomous driving mobility draws closer... Goldman Sachs predicts the ten key industry themes for 2026.

The year 2026 is considered a critical juncture for the success or failure of AI commercialization. Goldman Sachs has identified ten key industry themes: from the rise of generative AI and agent-based search to the deep integration of advertising, e-commerce, and social commerce; from high capital expenditure and cloud return on investment challenges to the accelerated deployment of autonomous driving; and further to spatial computing, interactive entertainment, health technology, and the rebalancing of corporate growth and investment, collectively shaping the main industrial trends for the new year.

Google's Open Strategy: Unveils 'Most In-Depth' Research-Oriented Agent on the Release Day of GPT-5.2

Google has launched its most advanced deep research-focused Agent to date—a “remastered version” of GeminiDeep Research—aiming to define an infrastructure-level entry point for Agents. This Agent can handle larger-scale contexts, can be directly embedded by developers into apps as an 'AI research core,' and is capable of performing continuous, multi-step reasoning tasks for minutes or even hours.

Google DeepMind announced the establishment of its first 'Automated Research Laboratory' in the UK, which may conduct AI research in areas such as nuclear fusion.

DeepMind announced the establishment of its first automated research laboratory in the UK, leveraging AI and robotics to accelerate experiments in materials science, with potential expansions into nuclear fusion research. British scientists will gain priority access to advanced AI tools, deepening public-private collaboration. This initiative aligns with a wave of investments exceeding tens of billions of dollars by tech giants in the UK, reinforcing the country’s strategic position in the global AI R&D landscape.

The strongest memory upcycle in history? UBS Group forecasts a 35% quarterly increase for DDR, with NAND shortages persisting at least until Q3 of next year.

According to UBS Group data, the storage industry is facing an unprecedented supply-demand imbalance. In terms of DRAM, the supply shortage is expected to persist until the first quarter of 2027, with DDR demand growing by 20.7%, far exceeding supply growth. The NAND shortage is anticipated to continue until the third quarter of 2026. UBS Group forecasts that DDR contract prices will increase by 35% quarter-on-quarter in Q4, while NAND prices will rise by 20%. This round of price increases significantly surpasses previous expectations.

Are space data centers the future? Bezos's Blue Origin also joins this new competition.

①According to sources, Bezos's Blue Origin is developing artificial intelligence data center technology for space applications; ②Bezos predicts that within the next 10 to 20 years, the technology industry will build gigawatt-scale data centers in space, powered by solar energy; ③Google plans to launch a constellation of solar-powered satellites equipped with dedicated AI chips, while the startup Starcloud has already launched a satellite carrying NVIDIA's H100 chip.

Leaked Meta internal memo reveals plans to raise VR device prices and slow down product iteration cycles.

According to market reports, Meta executives stated in an internal memo that the company plans to increase the prices of its virtual reality (VR) devices.

AI Investment Bubble? Oracle's Massive Debt Serves as the "Canary in the Coal Mine"

Oracle has been thrust into the spotlight due to its substantial expenditures on AI infrastructure and its bet on the fulfillment of OpenAI contracts. The surge in its credit default swaps to the highest level since 2009 is becoming a key indicator for the market to observe the AI debt cycle.

Google faces another EU antitrust investigation, following Meta's recent scrutiny.

According to the latest reports, the European Union announced on December 9 local time that it had launched an antitrust investigation into Google's use of online content for AI purposes. Reportedly, EU regulators suspect that the U.S. tech giant has abused its market influence to promote its own AI, thereby placing developers of competing AI models at a disadvantage.

Memory giant SK Hynix considers U.S. listing to eliminate 'Korea discount'.

SK Hynix stated that it is "evaluating various measures to enhance corporate value, including the possibility of utilizing treasury shares for a U.S. stock market listing, but no final decision has been made at this time." Analysts believe that by listing in the U.S., SK Hynix could not only narrow the valuation gap with peers such as Micron and Taiwan Semiconductor but may also attract capital inflows from passive funds, ETFs, and long-only funds that invest exclusively in U.S.-listed stocks.

Waymo reported a surge in weekly orders to over 450,000, nearly doubling in less than eight months, widening the gap with Tesla's Robotaxi. Morgan Stanley predicts a future duopoly market structure.

Data disclosed by Waymo's investor, Tiger Global Management, shows that the number of weekly paid rides for Waymo has increased by 80% compared to 250,000 in April this year. Analysts state that Waymo’s Robotaxi service currently operates a fleet of 2,500 vehicles nationwide, and with 450,000 weekly orders, each vehicle averages approximately 26 trips per day.

As the AI bubble faces skepticism, Apple, which has been slow to act, is reaping unexpected rewards: its stock price surged 35% in six months, outperforming Microsoft and Meta.

Amid skepticism over the AI investment boom, Apple has unexpectedly emerged as a market winner due to its prudent capital expenditure strategy. Its stock price has surged over 35% since the end of June, with its market capitalization surpassing $4.1 trillion, overtaking Microsoft to become the second-largest weighted stock in the S&P 500. Leveraging its hardware ecosystem and high-margin services business, Apple is seen as a stock that can both avoid AI bubble risks and benefit from technological proliferation, with its valuation now reaching historical highs.

Three Key Issues Surrounding NVIDIA's H200 Approval for Export to China

Regarding the lifting of the H200 export ban, three key issues deserve attention: when will the process be implemented, who will benefit, and what impact will it have on the domestic ecosystem?