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On September 17th, Huawei Connect 2026 opened in Shanghai. Wang Tao, Huaweis Deputy Chairman and Rotating Chairman, stated at the conference that, to date, over 1,000 Ascend 910C supernodes have been deployed, and the Ascend 950 supernode has also been commercially deployed on a large scale. With its large-scale commercial application, supernodes have become an inevitable choice for building ultra-large-scale AI infrastructure. Wang Tao explained that a supernode is a computing system physically composed of multiple computing nodes tightly connected through efficient interconnect protocols, possessing unified memory addressing capabilities across physical nodes, and logically exhibiting the characteristics of "a single computer." It has become a consensus among industry, academia, and research institutions in the field of AI infrastructure. Wang Tao mentioned that currently, 100,000-card clusters have become the standard for training trillion-level state-of-the-art (SOTA) models, but traditional server architectures result in intra-cluster communication accounting for over 40% of training time, severely restricting MFU (Model Floating-Point Utilization). According to simulation results from Huaweis Markov Lab, a 100,000-card cluster composed of 4K supernodes has a 2.75-fold increase in MFU (Mean Functionality Rate) compared to a 100,000-card cluster composed of 8-card servers.Ferrari and Lotte signed a cooperation agreement, effective January 1, 2027.1. BNP Paribas: Expects the Bank of England to raise interest rates by 25 basis points in November, down from its previous forecast of a September hike. 2. Reuters: Economists unanimously predict the Bank of England will keep rates unchanged in September, with most believing a rate cut is more likely than a hike next year. 3. Evercore ISI: The UK market is clearly pricing in a divergence between policy expectations and market expectations. The market has already priced in approximately 4.5 rate hikes over the next year, but the Bank of England remains reluctant to raise rates. 4. Goldman Sachs: Market pricing in the Bank of England remains too hawkish. It expects the bank to keep rates unchanged for the remainder of 2026 before starting rate cuts in 2027. 5. Citigroup: Expects the Bank of England to raise rates by 25 basis points each in the fourth quarter of 2026 and the first quarter of 2027, down from its previous forecast of rates remaining unchanged until the second quarter of 2027. 6. Franklin Templeton: With a cooling labor market and a weakening economic outlook, UK government bonds are currently attractive, and future policy may be more accommodative than the market prices. 7. JPMorgan Chase: Expects to hold rates steady this week to avoid further reinforcing market expectations of a rapid tightening cycle, but a rate hike is anticipated in November, as energy price movements suggest inflation may peak at 3.9% by February next year. 8. HSBC: There is currently insufficient evidence to prompt members of the Monetary Policy Committee to change their voting intentions. Therefore, as things stand, the majority is expected to maintain the current rate. 9. ING: Expects the Bank of England to maintain the interest rate at 3.75% by a 6-3 vote on September 17th, with rate cuts in April and November next year, although these cuts may be delayed. The QT program is expected to decrease to £50 billion over the next 12 months, down from £70 billion last year. 10. Danske Bank: The baseline scenario remains unchanged until the second quarter of 2027, at which point a rate-cutting cycle will resume. The vote tonight is likely to be 6-3. However, if energy prices remain high and the economy remains resilient, the Bank of England may eventually raise rates even if inflation has not yet spread significantly. 11. Oxford Economics: Given the limited impact of the second round of inflation, there is room to maintain interest rates. Green, Pierre, and Mann are expected to continue supporting a rate hike, with the vote remaining 6-3. Despite soaring oil and gas prices, most members are likely to remain patient and maintain a hawkish stance rather than an immediate rate hike.The governor of Rostov Oblast, Russia, said that about 50 drones were shot down in the large-scale attack on Rostov by Ukraine.Volvo Cars: Plans to launch 13 new models between now and the end of 2030.

Supply continues to be tight! Upside potential for oil prices is still huge

Oct 26, 2021 10:58

U.S. oil prices have risen for five consecutive days recently and have reached the highest level since 2014. The world is concerned about energy supply, and there are signs of tight supply in crude oil, natural gas and coal markets.


Two days ago, OPEC+, formed by the Organization of the Petroleum Exporting Countries (OPEC) and the oil-producing allies headed by Russia, stated that it would adhere to the existing agreement and gradually increase oil production, rather than further increase production. The Biden administration had previously called on OPEC and its allies to increase oil production in response to soaring gasoline prices. India, another major oil consumer, also called on OPEC to consider increasing supply to ensure that prices are suitable for producers and consumers.

Kieran Clancy, a commodity economist at Capital Economics, believes that OPEC+ is under increasing pressure, but their refusal to expand production means that the market is still in deficit in the fourth quarter, indicating that oil prices will remain at least this year. It will remain high for a while.

The Commonwealth Bank of Australia (CBA) wrote in a report: "OPEC's outlook indicates a further reduction in global oil inventories. Given that oil inventories are already low, this is a problem."

They said that as the vaccination rate rises to support the reopening of the economy, the global demand for crude oil has accelerated, and rising oil prices may threaten the recovery of the global economy.

ANZ Bank said in a report: “Crude oil has expanded its gains because investors are worried that the energy crisis will push up demand and market supply is tight. Considering the global energy shortage, OPEC+'s growth rate is much lower than market expectations. Not surprisingly, people It is speculated that if demand continues to surge, OPEC will be forced to take action before the next scheduled meeting."

Prior to the arrival of the winter heating season, global supply continued to be tight, with natural gas futures prices rising by more than 9% on Tuesday, the highest closing price in nearly 13 years.

Schneider Electric's global research and analysis manager Robbie Fraser said that as the global crude oil market has been in short supply, record natural gas prices in major demand regions will lead to a strong increase in heating demand for products such as diesel and fuel oil, which will eventually support a further decline in crude oil and product inventories. , Now crude oil and product inventories are far below the normal level at this time of the year.

FxPro senior market analyst Alex Kuptsikevich said that in the past 7 weeks, oil prices have risen almost uninterruptedly. During this period, they have risen by more than 25%, but this does not mean that the upside potential has been exhausted, because most of the gains have come from deep corrections. . The kinetic energy of oil lags behind that of natural gas and coal, so it may have huge upside potential.

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