凤凰网科技讯 北京时间10月13日，据《商业内幕》报道，仅在过去几周时间里，OpenAI联合创始人兼 CEO萨姆·奥特曼(Sam Altman)就与AMD、英伟达签下了重磅算力合作协议，使得这家创业公司今年的 交易总额达到约1万亿美元。这一惊人速度既让一些科技领袖感到惊叹不已，又让另一些人感到不安。 云存储公司Box的CEO亚伦·莱维(Aaron Levie)表示，"奥特曼是最具雄心的创始人之一"。莱维将当下的 AI热潮比作互联网和移动计算的初期发展阶段，"他明白这种平台级变革十年或二十年才会出现一次。 这很可能是我们有史以来在科技领域见过的最大变革"。 莱维和其他远观奥特曼行动的科技领袖告诉《商业内幕》，创业成功需要持续的动力。然而，他们表 示，即便以创业公司的标准衡量，奥特曼这种疾风骤雨般的推进节奏仍然非常突出。有人称之为大胆， 也有人觉得鲁莽。 "我无法想象以他们这样的速度推进，以前从未见过这样的速度。"AutoUnify CEO乔尔·米尔恩(Joel Milne)表示。AutoUnify是一家为汽车经销商、市场和其他供应商开发AI商务应用的创业公司。 支持声音 网络安全公司Rubrik的CEO兼联合创 ...

Core Viewpoint - Goldman Sachs reports that Tencent's stock price has increased by 56% year-to-date, with a focus on AI applications and capital expenditure outlook in the upcoming Q3 earnings [1] Group 1: Financial Performance - Goldman Sachs forecasts a 13% year-on-year increase in revenue and an 18% rise in earnings per share, driven by high-margin revenue sources and operational leverage [1] Group 2: Capital Expenditure and Growth Projections - The firm has raised its capital expenditure forecast for Tencent from 350 billion to 350 billion yuan for the years 2023 to 2027, along with an upward revision of cloud revenue growth expectations [1] Group 3: AI Integration and Business Impact - Goldman Sachs believes that Tencent's AI capabilities enhance all its business lines, benefiting from its unique WeChat ecosystem and global gaming assets [1] Group 4: Investment Rating and Price Target - The investment rating for Tencent is maintained at "Buy," with the base case price target increased from 701 HKD to 770 HKD, and a bullish scenario price target set at 846 HKD [1]

市场震荡回升，三大指数跌幅收窄。沪深两市半日成交额1.58万亿，较上个交易日缩量659亿。截至收 盘，沪指跌1.30%，深成指跌2.56%，创业板指跌3%。 盘面上热点集中在稀土永磁和半导体板块。其中稀土永磁板块持续爆发，银河磁体、中国瑞林等多股相 继涨停，板块掀起涨停潮。军工板块表现活跃，长城军工2连板。半导体板块延续强势，新莱应材、凯 美特气2连板。 下跌方面，机器人概念股走弱，日盈电子触及跌停。板块方面，稀土永磁、贵金属、半导体等板块涨幅 居前，机器人、消费电子等板块跌幅居前。 ...

Core Insights - xAI, led by Elon Musk, is intensifying efforts to develop a "world model" to compete with Meta and Google in the next generation of AI systems capable of autonomous navigation and design in physical environments [1][2] - The world model is a generative AI model that understands dynamic features of the real world, including physical and spatial properties, using various input data types [1] - xAI has hired experts from NVIDIA to advance the development of these models, which are expected to enhance AI capabilities beyond current large language models [1][2] Company Developments - xAI has recruited two AI researchers, Zeeshan Patel and Ethan He, with experience in world model development [2] - The company plans to launch an AI-generated game by the end of next year, reaffirming its commitment to this goal [2] - Recently, xAI released an upgraded image and video generation model, which is now available for free to users [2] Industry Context - Other leading AI labs, including Google and Meta, are also working on world models, indicating a competitive landscape [3] - The potential market size for world models is suggested to be close to the current global economic total, highlighting significant commercial interest [2] - Challenges remain in finding sufficient data to simulate the real world and train these models, which is both difficult and costly [3]

Core Insights - Vivo showcased its advancements in operating systems and artificial intelligence at the 2025 Developer Conference, marking its 30th anniversary [1] - The company introduced a 30 billion parameter edge-based multimodal inference model designed for local AI tasks, enhancing personalized services [1] - Vivo's new OriginOS 6 achieved significant breakthroughs in system smoothness and stability, becoming the first OS to receive dual smoothness certification [2] Group 1: Operating Systems - OriginOS 6 features the self-developed "Blue River Smooth Engine," improving system performance through deep restructuring of computing, storage, and display modules [2] - The system can achieve stable output of 120 frames in "Honor of Kings" and will debut on the upcoming X300 and iQOO 15 flagship models [2] - BlueOS 3, aimed at AI-native devices, is fully written in Rust for enhanced security and will first be used in vivo WATCH GT 2, offering up to 33 days of battery life [2] Group 2: AI and Security - Vivo's "Blue Heart" AI framework allows for precise user intent understanding and proactive service delivery, such as automatic photo editing based on user habits [1] - The company introduced a "Six-Dimensional Security Paradigm" covering the entire AI lifecycle and became the first domestic tech firm to join the C2PA content authenticity alliance [3] - Vivo's office suite for iPad marks its position as the first company to achieve interoperability with Apple's ecosystem [3]

Core Viewpoint - The continuous development of new productive forces and the upgrading of key industries in China are leading to an optimization and innovation in the structure of export products [1] Group 1: Industrial Robotics - The application scenarios for robots manufactured in China are becoming increasingly diverse, resulting in a significant international market presence [1] - In the first three quarters, China's export of industrial robots increased by 54.9% [1] Group 2: Wind Power Equipment - The export of wind power equipment, including wind turbine units and components, has accelerated, showing a growth of 23.9% [1] Group 3: Cultural Heritage Products - Traditional cultural heritage products such as dragon boats, wood carvings, and paper-cutting have incorporated contemporary elements, revitalizing old crafts and gaining popularity overseas [1]

外贸大省挑大梁的作用持续发挥，前三季度，广东、江苏、浙江、上海、山东5省市进出口合计增长 5.2%，对全国进出口增长的贡献超过8成。从国际数据看，今年前7个月，我国进出口占全球货物贸易 总值的比重为11.8%，继续保持全球货物贸易第一大国地位。 海关总署副署长王军表示，截至9月份，我国出口、进口已连续4个月同比双增长。 ...

沪指低开2.49%，深成指低开3.88%，创业板指低开4.44%，消费电子、算力硬件等板块跌幅居前，近70 股跌超9%。 华泰证券指出，自9月以来，闪迪、美光、三星等海外存储原厂相继宣布涨价，且涨价幅度多超市场预 期。DRAM方面，AI驱动的HBM及高容量DDR5需求仍保持旺盛，推动4Q25主流DRAM价格继续稳健 上行，且美光FY25Q4业绩会上表示26年DRAM市场供需关系仍将保持紧张；NAND方面，除原厂严格 控制产能稼动率外，HDD供应短缺叠加AI推理应用快速增加进一步加大企业级SSD需求，推动NAND供 需结构持续优化，4Q25价格涨幅或较3Q25有所扩大，供需共振推动存储芯片周期向上。 中信建投：稀土战略地位进一步强化 中信建投指出，商务部连发四文强化稀土出口管制，增加5类中重稀土出口管控，增加全产业链条设 备、技术、原辅材料出口管制，并对海外军事及高端半导体需求进行管制，稀土战略地位进一步强化。 银河证券：市场大概率不会复制4月7日行情 银河证券表示，10月10日晚间，全球金融市场全线重挫，美股三大指数下跌，中概股也受到波及。从消 息面来看，中美贸易摩擦再度引发市场关注。本轮关税冲击是否会导致A ...

第六批高值医用耗材国家集采再迎新进展。 今年8月1日，国家组织高值医用耗材联合采购办公室（简称"联采办"）发布通知，宣布开展药物涂层球囊类及泌尿介入类医用耗材的产品信息集中维护工作 （《关于开展药物涂层球囊类及泌尿介入类医用耗材产品信息集中维护工作的通知》，简称《通知》），标志着本轮集采的正式启动。 近日，一份关于本次集采的征求意见稿又在业内流传，内容涵盖集采品种、医疗机构报量规则以及企业竞价方案等关键环节。**《科创板日报》记者从联采 办相关工作人员处获悉，该文件属实，目前正处于征求意见阶段。 值得一提的是，与即将就要开标的第十一批药品国采一脉相承，"稳临床、保质量、防围标、反内卷"的12字方针也被写进了这一份《征求意见稿》的开篇之 中。由此可见，无论是药品集采还是耗材集采，均已跳出"卷价格"，进而转向"拼质量"的良性竞争新阶段。 ▌"稳临床、保质量"是基本 截至目前，国家组织医用耗材集中采购已开展五批，覆盖冠脉支架、人工关节、脊柱类耗材、人工晶体、运动医学、人工耳蜗、外周血管支架等多个品类。 根据《征求意见稿》，此次第六批耗材集采的采购范围涵盖药物涂层球囊、泌尿介入两大类。其中，药物涂层球囊又进一步细分为 ...

Core Viewpoint - The consensus among brokerages is that the impact of the current trade tensions will be significantly less than that experienced in April, with many viewing the situation as an opportunity rather than a cause for panic [1][4][5][10]. Group 1: Market Reactions and Strategies - Multiple brokerages emphasize the "TACO" trading strategy, suggesting that short-term market declines due to tariff threats often present buying opportunities [1][7][11]. - Analysts from various firms, including Guangfa Securities and Huaxi Securities, predict that the current market environment is different from April, with a more robust monetary and fiscal policy backdrop supporting the market [7][10]. - The potential for a minor risk-reward rebalancing is noted, with expectations of a short-term reduction in leveraged funds against the backdrop of strong market fundamentals [4]. Group 2: Economic and Policy Insights - The ongoing trade tensions are viewed as a tactical maneuver by the U.S. to gain leverage in negotiations, with the likelihood of a resolution being high [6][11]. - Analysts highlight that the long-term trend for A-shares remains bullish, supported by structural improvements in earnings and credit recovery [13]. - The upcoming APEC summit is identified as a critical event that may influence future negotiations and market sentiment [6]. Group 3: Investment Opportunities - Specific sectors such as technology, AI, and semiconductor industries are recommended for investment, particularly in the context of potential market volatility [7][10]. - The focus on domestic policies aimed at stabilizing growth and addressing internal demand is seen as a key driver for future market performance [9][13]. - Analysts suggest that the current market conditions may provide favorable entry points for investors, particularly in light of historical patterns observed during similar market conditions [7][8].