Core Viewpoint - NVIDIA's CEO Jensen Huang showcased the new generation Rubin GPU, highlighting significant performance improvements over the previous Blackwell architecture [1] Performance Metrics - The NVFP4 inference computing power is 50 PFLOPS, which is five times that of Blackwell [1] - The NVFP4 training computing power is 35 PFLOPS, which is 3.5 times that of Blackwell [1] - The HBM4 bandwidth is 22 TB/s, which is 2.8 times that of Blackwell [1] - The transistor count is 336 billion, which is 1.6 times that of Blackwell [1]

Group 1 - The core viewpoint of the article highlights the significant progress in the AI industry over the past year, emphasizing the rise of open-source models as a catalyst for global innovation [1] - NVIDIA's CEO Jensen Huang noted that the emergence of the Deepseek R1 model has unexpectedly driven transformation across the industry [1] - Multiple open-source models are now emerging globally, with their performance increasingly approaching that of leading large models [1] Group 2 - The presentation showcased several open-source models, including three from China: Kimi K2, Qwen, and Deepseek V3.2 [1]

（文章来源：第一财经） 桥水基金创始人达利欧（Ray Dalio）周一在社交媒体平台发文警告称，此前推动华尔街科技股大涨的 人工智能热潮 "目前已步入泡沫初期阶段"。"显然，相较于美国股票，投资者更愿意配置非美股资产； 同理，相较于美国债券与美元现金，他们也更青睐非美债券资产。毋庸置疑，未来美联储的政策走向与 生产力增长前景，都存在着巨大的不确定性。种种迹象表明，新任美联储主席及联邦公开市场委员会大 概率会倾向于压低名义利率与实际利率。这一举措虽会对资产价格形成支撑，但也会进一步催生泡 沫。" ...

英伟达表示，基于Rubin的系统运行成本将低于Blackwell版本，因为它们可以用更少的组件实现相同的 效果。微软公司和其他大型云服务商将成为首批部署这一新硬件的客户。 （文章来源：第一财经） 英伟达公司备受期待的新款Rubin数据中心产品将于今年发布，客户很快就能试用该技术，这将有助于 加速人工智能的发展。 相比前代Blackwell架构，Rubin加速器在AI训练性能上提升3.5倍，运行（推理）性能提升5倍，并配备 拥有88个核心的新款中央处理器（CPU）。 ...

Core Insights - NVIDIA CEO Jensen Huang stated that model sizes are expected to grow tenfold each year, with the number of tokens generated through Test-Time Scaling increasing fivefold annually, and the cost per token decreasing by tenfold each year [1] Group 1: Autonomous Driving - Huang expressed strong confidence that a significant portion of vehicles worldwide will be either fully autonomous or highly automated within the next decade [1] - The company introduced the Alpamayo series of VLA open-source AI models and tools aimed at the development of autonomous vehicles [1]

Group 1: Commodity Market Movements - Global commodity markets experienced significant fluctuations due to concerns over supply shortages and geopolitical tensions, particularly regarding Venezuela, leading to a resurgence in precious metals [1] - Gold prices surged, reaching a peak of $4,467 per ounce, driven by increased demand for safe-haven assets amid U.S. military actions in Venezuela and other geopolitical developments [2][3] - Industrial metals also saw a collective rise, with copper prices breaking historical records, driven by strong demand from sectors like electric vehicles and artificial intelligence [5][6] Group 2: Gold Price Forecasts - UBS raised its gold price target for 2026 to $5,000 per ounce, citing concerns over U.S. fiscal sustainability and a continued preference for gold as a risk-hedging asset [3] - Goldman Sachs projected gold prices could reach $4,900 per ounce, with potential for further upside due to ongoing geopolitical risks and monetary policy changes [2][3] - The demand for gold ETFs is expected to remain high, with analysts suggesting that if political or financial risks escalate, gold prices could potentially rise to $5,400 per ounce [3] Group 3: Silver Market Dynamics - Silver prices saw a significant increase, with futures rising by 7.95%, driven by both safe-haven demand and structural growth in industrial applications, particularly in electric vehicles and solar panels [3][4] - The silver market has been in a state of supply-demand imbalance since 2021, with increasing demand outpacing the ability to expand production quickly [3] - A survey indicated that 57% of respondents expect silver prices to exceed $100 per ounce next year, reflecting strong market sentiment [4] Group 4: Copper Supply Concerns - The copper market is facing supply concerns due to production interruptions at major mines, with analysts predicting a global refined copper production of 26.9 million tons and a market shortfall of 308,000 tons this year [6][7] - The potential for U.S. tariffs on copper imports has added to market volatility, with significant increases in copper inventories in U.S. warehouses as traders prepare for possible trade restrictions [7] - UBS noted that the U.S. holds about half of the global copper inventory, but its consumption accounts for less than 10% of global demand, indicating risks for supply in other regions [7]

随着投资者将目光转向即将发布的季度财报，标普500金融指数大幅走高。市场预期，标普500成分股中 的金融行业在去年12月当季的盈利将实现同比6.7%的增长。高盛涨3.8%，花旗涨3.7%，摩根大通涨 2.6%，美银涨1.7%，高盛与摩根大通均创下历史新高。 明星科技股涨跌互现，特斯拉涨3.1%，亚马逊涨2.9%，Meta涨1.3%，谷歌涨0.6%，微软平盘，英伟达 跌0.4%，苹果跌1.4%，甲骨文跌1.6%。 【热门股表现】 能源板块走强，市场预期相关企业将从委内瑞拉石油基础设施重建中获益。雪佛龙涨5.1%，该公司目 前在委内瑞拉已有业务布局，而委内瑞拉拥有全球最大的已探明石油储量。埃克森美孚涨2.2%。与此 同时，有望助力委内瑞拉能源重建的油田服务公司表现不俗，哈里伯顿、斯伦贝谢分别上涨7.8%和近 9%。 美国合众银行财富管理部高级投资策略师哈沃斯（Rob Haworth）表示："能源股的大涨，主要是市场预 期特朗普总统将推动美国企业加大对委内瑞拉的投资，最终实现盈利增长。"他补充道，"美国并未计划 在当地长期驻军，也不会开展持续性军事介入，这意味着整体股市可以不必担忧局势演变为长期冲突， 从而消除了一 ...

委内瑞拉总统马杜罗出庭，国际油价收涨超1.5%。 *三大股指高开高走，标普500收复6900点； *中长期美债收益率回落，10年期美债报4.16%； *金融板块发力，高盛、摩根大通创历史新高。 尽管美国上周末对委内瑞拉采取军事行动，但受原油价格上涨以及投资者押注此举不会引发冲击市场的 大规模地缘政治冲突影响，美股周一上涨。截至收盘，道指涨594.79点，涨幅1.23%，报48977.18点， 盘中首次突破49000点创下历史新高，纳指涨0.69%，报23395.82点，标普500指数涨0.64%，报6902.05 点。 【热门股表现】 能源板块走强，市场预期相关企业将从委内瑞拉石油基础设施重建中获益。雪佛龙涨5.1%，该公司目 前在委内瑞拉已有业务布局，而委内瑞拉拥有全球最大的已探明石油储量。埃克森美孚涨2.2%。与此 同时，有望助力委内瑞拉能源重建的油田服务公司表现不俗，哈里伯顿、斯伦贝谢分别上涨7.8%和近 9%。 中概股低开高走，纳斯达克中国金龙指数涨0.49%，拼多多涨2.9%，京东涨0.4%，阿里巴巴涨0.3%，百 度跌0.4%，网易跌1.7%。 【市场概述】 据央视新闻报道，当地时间1月5日，遭美 ...

1月5日，泰禾集团发布公告称，针对公司董事长兼总经理黄其森的留置措施已解除，黄其森正常履行公司董事长兼总经理的职责，公司生产经营情况正 常。 去年8月时，泰禾集团曾披露，黄其森因涉嫌违法，被辽宁省新民市监察委员会实施留置措施。彼时，该集团存在的资产被冻结、查封等情况，会对公司 运营产生一定影响。除此之外，公司按原组织架构和管理体系正常运转。 据中央纪委国家监委2022年5月消息，黄曦涉嫌严重违纪违法，正接受中央纪委国家监委驻建设银行纪检监察组纪律审查和吉林省监察委员会监察调查。 同年11月，黄曦被开除党籍，涉嫌犯罪问题被移送检察机关。 值得注意的是，这已是黄其森二度出现类似风波、又重返岗位。 早在2022年3月时，泰禾集团曾披露，黄其森正协助有关机关调查。彼时市场消息显示，泰禾集团执行副总裁黄曦、副总裁林文华也被带走协助调查。 当时，在泰禾紧急召开的媒体沟通会上，管理层表示，董事长黄其森是协助调查，不是因为泰禾经营层面的问题，与企业经营本身没有关系。同时称，近 年来黄其森直接参与公司日常经营较少，更多关注战略和重大决策。 在上一轮"协助调查"风波中，黄其森同样一度回归。2022年11月17日，泰禾集团在回应该 ...

盈方微公告，公司正在筹划以发行股份和/或支付现金相结合的方式购买资产并募集配套资金的事项。 标的资产为上海肖克利信息科技股份有限公司、FIRST TECHNOLOGY CHINA LIMITED（富士德中国 有限公司）、时擎智能科技（上海）有限公司的控股权。本次交易预计构成重大资产重组。公司股票自 1月6日开市起开始停牌，预计在不超过10个交易日的时间内披露本次交易方案。 (本文来自第一财经) ...