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Switzerland's producer/import price index rose 0.9% year-on-year in October, compared with a previous reading of -0.20%.

Switzerland's producer/import price index rose 0.9% month-on-month in October, compared with 0.30% in the previous month.

The core issues facing the AI ​​industry have shifted from market space to revenue realization, cash flow generation, and profit distribution. AI labs need to accelerate their expansion into the application layer, converting model capabilities into actual revenue and achieving self-financing after covering inference, R&D, personnel, and infrastructure costs. Large cloud service providers like Microsoft, Google, and Amazon, on the other hand, need to convert their AI infrastructure investments into new revenue while maintaining existing business cash flow. UBS warns that restrictions on electricity and semiconductor capacity, approvals, and financing could delay this process and create a negative feedback loop: slower revenue growth leads to financing difficulties, and tighter financing further postpones infrastructure construction and revenue realization. Regarding profit distribution, infrastructure providers currently reap significant revenue from construction, while private capital bears a substantial proportion of the financing for AI needs. Ultimately, whether AI labs can capture sufficient profits from models and applications, and whether cloud service providers can monetize their infrastructure, will determine the ownership of the AI ​​industry's profit pool.

Germany's wholesale price index rose 8.8% year-on-year in October, down from 8.7% in the previous month.

Germany's wholesale price index rose 0.4% month-on-month in October, down from 1.9% in the previous month.

Goldman Sachs downgraded its rating on the European energy sector from neutral to underweight. It also downgraded its rating on the European banking sector to neutral and the European insurance sector from neutral to underweight.

Goldman Sachs has raised its 12-month target for the Stoxx Europe 600 index from 695 to 700.

According to LSEG IBES data, European companies' third-quarter profits are expected to grow by 25.0% year-on-year, unchanged from the forecast a week ago. Revenue for European companies is expected to grow by 12.0% in the third quarter, compared to an 11.9% increase a week ago.

The NI225 closed up 322.99 points, or 0.53%, at 61,142.35 on Friday, November 13.

According to The Times, the UK Chancellor of the Exchequer stated that if artificial intelligence is used in our security affairs, he wants the relevant data to remain in the UK and serve the UK, rather than being stored abroad. Therefore, we must build more data centers.

According to The Times: The British Chancellor of the Exchequer said, "I hope to avoid the kind of disorderly expansion of artificial intelligence and data centers that we are seeing in the United States."

According to The Times, the UK Chancellor of the Exchequer said that Britain could learn from the heated debate in the US over the disorderly expansion of data centers and ensure that data center projects receive local community support.

According to Iranian media Fars News, the Iranian Islamic Revolutionary Guard Corps stated that the destruction of the US radar in Bahrain was a stern warning to the enemy, demanding that it cease its aerial provocations and oil smuggling activities in the Strait of Hormuz. If the enemy engages in further violations and acts of aggression, the Revolutionary Guard's Aerospace Force will be on full alert, ready to take retaliatory action without regard to boundaries. Companies that violate regulations and have been deceived by the aggressor will face even harsher penalties.

According to The Times, the UK Chancellor of the Exchequer stated that the UK needs to "maximize" the opportunities presented by artificial intelligence. AI is expected to attract significant investment to the UK, and he believes the UK needs to develop autonomous and controllable AI to promote economic growth and strengthen national security.

According to The Times, the UK Chancellor of the Exchequer said that Britain needs to embrace artificial intelligence and invest in data centers, as this will bring about a "productivity revolution" for the country and raise wages for ordinary workers.

According to Middle Eastern media reports, the future of the UN Interim Force in Lebanon (UNIFIL) faces uncertainty as its mandate nears its end. US Ambassador to the UN, Mike Walz, is expected to arrive in Lebanon next week. On Tuesday, Walz criticized UNIFIL at a summit hosted by the Israeli newspaper Israel Today in New York, calling it a "protective umbrella for terrorists." Walz stated explicitly at the event that his mission in Lebanon was to "remove this so-called protective umbrella of UNIFIL and change this peacekeeping force that has been deployed there for 20 years." US Secretary of State Marco Rubio said at a press conference on Tuesday that the US is considering replacing UNIFIL with a "civilian mission." Rubio said, "It doesn't necessarily have to be a military mission; it could be a civilian mission." UNIFIL's mandate expires on December 31, 2026, unless the UN decides to extend it.

A Ukrainian attack on Russia's Volgograd region has killed four people.

Microsoft stated regarding the outage: "We have not found any malicious activity that caused this incident."

SemiAnalysis, a semiconductor research firm, released a report on November 13th stating that Nvidia's most difficult-to-replicate competitive advantage is not a single chip, but rather its supply chain organization capabilities that integrate GPUs, HBM, advanced packaging, networking equipment, and complete systems. Nvidia itself doesn't own a wafer fab, yet through long-term procurement commitments, securing capacity in advance, and coordinating suppliers, it has expanded its single-product business from approximately $1 billion to $250 billion. SemiAnalysis believes that as Google, Amazon, and AMD expand their AI chip supply, Nvidia's share of HBM and CoWoS advanced packaging capacity has declined and is expected to continue declining in 2027. However, this decline in market share does not necessarily mean an immediate contraction in profits: due to the continued rapid expansion of the AI ​​infrastructure market, Nvidia's profits are still expected to double next year. The firm likens the current competitive landscape to Apple in 2020: even with pressure on market share, strong supply chain control can still support profitability.

Australia's S&P/ASX 200 index closed down 66.10 points, or 0.72%, at 9080.70 on Friday, November 13.