微软云与人工智能执行副总裁斯科特·格思里表示，Maia 200采用台积电3纳米工艺制造，每颗芯片包含 超过 1400 亿个晶体管，为大规模 AI 工作负载量身打造，同时兼顾高性价比。他称Maia 200是微软迄今 为止部署的最高效推理系统，其每美元性能比微软目前部署的最新一代硬件提升了30%。他同时表示， Maia 200的FP4性能是第三代 Amazon Trainium的3倍。 当地时间1月26日，微软宣布推出第二代人工智能芯片Maia 200。 目前，Maia 200已部署在微软位于爱荷华州得梅因附近的美国中部数据中心区域，接下来将部署位于亚 利桑那州凤凰城附近的美国西部3数据中心区域，未来还将部署更多区域。 在应用方面，微软超级智能团队将利用 Maia 200 进行合成数据生成和强化学习，以改进下一代内部模 型。在去年11月，微软宣布成立超级智能团队，由微软消费者人工智能业务负责人穆斯塔法·苏莱曼 （Mustafa Suleyman）领导，旨在实现人文主义超级智能。穆斯塔法·苏莱曼表示，这么做为了摒弃关于 通用人工智能（AGI）竞赛的叙事，而是将其视为一项更广泛、更深刻的人类事业，用于改善人类的生 活 ...

1月27日，香港恒生指数开盘涨0.36%，恒生科技指数涨0.16%。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | H2I | 恒生指数 | 26863.15c | 97.63 | 0.36% | | HSTECH | 恒生科技 | 5734.90 c | 8.91 | 0.16% | | HSBIO | 恒生生物科技 | 15672.09c | 40.25 | 0.26% | | HSCEI | 恒生中国企业指数 | 9173.20 c | 25.99 | 0.28% | | HSCI | 恒生综合指数 | 4136.29c | 1458 | 0.35% | 紫金矿业涨超4%。公司昨日晚间公告，1月26日，公司控股的紫金黄金国际有限公司与Allied Gold Corporation（简称 "联合黄金"） 签署《安排协议》，紫金黄金国际拟以44加元/股的现金价格，收购联 合黄金全部已发行的普通股，收购对价共计约55亿加元（约合人民币280亿元）。 联合黄金核心资产包括在产的马里Sadiola金矿、科特迪瓦金矿综合体（含Bonikr ...

【财经日历】 ►►全国科技工作会议26日在京召开。丁薛祥表示，中国式现代化越是向前推进，越要夯实科技基础支 撑，加快培育高质量发展新动能。科技革命和产业变革越是深入发展，越要努力抢占国际竞争制高点， 牢牢掌握科技竞争主动权。科技工作越是取得进步，越要保持清醒头脑，推动科技事业发展行稳致远。 丁薛祥强调，党的二十届四中全会提出"十五五"时期科技自立自强水平大幅提高的战略目标。要坚 持"四个面向"的战略导向，系统谋划部署科技工作，坚持规划引领和项目带动，加强基础研究，提高科 研基础条件自主保障能力。建强用好国家战略科技力量，优化各类科技力量功能定位，深化国际科技合 作，提升国家创新体系整体效能。推动科技创新和产业创新深度融合，强化企业创新主体地位，加快构 建科技金融体制，更好引领新质生产力发展。促进教育科技人才一体发展，壮大理工科人才队伍，大力 培育科学家和卓越工程师。加强国际科技创新中心建设，发挥区域科技创新中心辐射带动作用，实现因 地制宜、优势互补、共同发展。 ►►1月26日，国新办就2025年商务工作及运行情况举行新闻发布会： -将优化实施消费品以旧换新，促进家电等大宗耐用商品消费； -加力培育交通服务、家 ...

2026.01.27 本文字数：1554，阅读时长大约3分钟 作者 |第一财经 樊志菁 周一美股全线收高，避险情绪一度推高金价至5100美元以上，投资者正等待本周公布的多家大型企业财 报以及美联储的货币政策决议。 截至收盘，道指涨313.69点，涨幅0.64%，报49412.40点，纳指涨0.43%，报23601.36点，标普500指数涨 0.50%，报6950.23点。 | 纳斯达克 道琼斯工业平均 | 标普500 | | --- | --- | | 49412.40 23601.36 | 6950.23 | | +313.69 +0.64% +100.12 +0.43% +34.62 +0.50% | | 个股方面，英伟达跌0.6%，报道称公司向人工智能云计算公司CoreWeave投资20亿美元，增持其股份， 双方同时达成协议扩大合作，以满足市场对人工智能基础设施日益增长的需求。CoreWeave收盘上涨 5.7%。 明星科技股涨多跌少，甲骨文、苹果涨3.0%，Meta涨2.0%，谷歌涨1.6%，微软涨0.9%，亚马逊跌 0.3%，特斯拉跌3.1%。 纳斯达克中国金龙指数跌0.63%，网易和拼多多涨0.4 ...

Core Viewpoint - The surge in metal prices, particularly gold and silver, is driven by a combination of geopolitical risks, monetary policy expectations, and structural weaknesses in the dollar credit system, leading to significant investment opportunities in the precious metals sector [4][10]. Group 1: Metal Price Movements - On January 26, gold prices surpassed $5100 per ounce, while silver prices reached over $110 per ounce, marking a significant increase in the precious metals market [4][5]. - The A-share market saw the precious metals sector lead with a 7.3% increase, while basic metals also experienced a rise of 2.73% [2][3]. - Analysts predict that the overall strong trend in the precious metals market will continue, although caution is advised due to high volatility [4][10]. Group 2: Company Performance and Earnings - As of January 26, 73% of the 26 listed companies in the non-ferrous metals sector have reported positive earnings forecasts for 2025, largely attributed to rising metal prices [6][8]. - Companies like Zhao Jin Gold and Hunan Gold expect significant profit increases due to higher gold and other metal prices [7][8]. - The acquisition of gold mines by companies such as Luoyang Molybdenum indicates a strategic move to enhance production capabilities amid rising prices [8]. Group 3: Market Dynamics and Future Outlook - The current market dynamics suggest a potential for further price increases in metals, driven by global economic conditions and supply constraints [9][10]. - Analysts recommend a cautious approach to investment, suggesting strategies that include dollar-cost averaging and careful risk management [10][11]. - Regulatory measures may be implemented to curb excessive speculation in the metals market, emphasizing the need for compliance with trading rules [11].

Core Viewpoint - The surge in gold and silver prices is driven by a combination of monetary credit reconstruction, escalating geopolitical risks, and liquidity expectations, with gold prices potentially reaching $6,000 per ounce by 2026 [2][5]. Group 1: Price Movements - As of January 26, London spot gold prices reached a historic high of $5,111 per ounce, while silver prices peaked at $110 per ounce before settling at $108 [2]. - In the domestic futures market, the main contract for gold rose by 3.67% to a new high of 1,151 yuan per gram, while silver surged nearly 13% to 28,226 yuan per kilogram [2]. - Year-to-date, gold and silver prices have increased by over 17% and 52%, respectively [3]. Group 2: Institutional Outlook - Multiple institutions maintain bullish forecasts for gold, with UBS setting a target price of $5,000 per ounce, while Goldman Sachs raised its target from $4,900 to $5,400 due to increasing demand from private investors and central banks [5]. - Bank of America has set a target of $6,000 per ounce for gold by the end of the year, citing historical trends of significant price increases during bull markets [5]. - Jefferies Group even suggests that gold could reach $6,600 per ounce this year [5]. Group 3: Investment Trends - There is a significant increase in investor interest in gold, with many seeking to invest in gold ETFs and stocks, leading to a surge in A-share gold concept stocks [7]. - The largest gold ETF in China surpassed 100 billion yuan in assets for the first time, reflecting a growing trend in gold investment [8]. - As of January 26, the total management scale of seven gold ETFs tracking the Shanghai Gold Exchange reached 267.9 billion yuan [8]. Group 4: Central Bank Activities - Global central banks continue to purchase gold at high levels, with an estimated monthly average of 60 tons, significantly higher than the pre-2022 average of 17 tons [9]. - As of December 2025, China's gold reserves increased to 74.15 million ounces, marking a continuous increase over 14 months [8]. Group 5: Market Sentiment and Regulation - The current gold market is characterized by heightened emotional trading, with regulatory bodies beginning to implement measures to cool down the market [11]. - Some gold ETFs have started to limit inflows to manage high demand and protect existing investors [8]. - Analysts warn of potential overbought conditions in the market, suggesting that investors should be cautious of a possible correction [12].

Market Performance - The three major U.S. stock indices opened mixed on January 26, with the Dow Jones Industrial Average rising by 0.38%, the S&P 500 increasing by 0.24%, and the Nasdaq slightly declining by 0.02% [1] - Specific index values include: Dow Jones at 49,287.04, S&P 500 at 6,932.40, and Nasdaq at 23,496.75 [2] Sector Performance - Gold mining stocks experienced a broad increase, with Endeavour Silver and Kinross Gold rising over 6%, and AngloGold Ashanti increasing by over 4%. Barrick Gold, Newmont Mining, and Harmony Gold all saw gains exceeding 2% [2] - U.S. rare earth stocks surged over 23% after a company announced a memorandum of understanding with the U.S. government to secure $1.6 billion in funding [2] Company News - CoreWeave's stock rose over 9% following NVIDIA's investment of $2 billion to purchase Class A common stock in the company [3]

2026.01.26 本文字数：1311，阅读时长大约2分钟 来源 |公司公告、智通财经、智通财经、中国基金报 封图 | 公司官网 61岁"奶酪女王"柴琇遭妙可蓝多（600882）免职，同时还被提起仲裁。 1月25日晚间，妙可蓝多发布重磅人事变动公告：公司创始人柴琇被免去副董事长、总经理及法定代表 人职务，仅保留董事身份；"蒙牛系"职业经理人、公司现任行政总经理兼CFO蒯玉龙接任总经理一职并 担任法定代表人。 公开资料显示，1965年出生的柴琇为妙可蓝多的创始人，柴琇曾任广泽投资控股集团有限公司总裁，广 泽国际发展有限公司行政总裁等，2024年年薪为486.63万元。作为创始人，其曾带领妙可蓝多借奶酪棒 单品崛起，2018至2021年营收年复合增长率超50%。 1月26日，妙可蓝多股价跌1.77%，报收每股23.33元。 蒯玉龙，曾任蒙牛系高管，2021年随蒙牛入股担任妙可蓝多任财务总监，2025年升任行政总经理。 作为控股股东，蒙牛目前持股约37%。柴琇目前依旧公司第二大股东，持股14.92%。此次仲裁结果或将 影响其持股权益，不排除未来出现股份被执行清偿的可能。 公告显示，柴琇被免职的直接导火索，是一笔陈 ...

纽约期银日内大涨逾9%，报110.65美元/盎司；现货白银涨超近7%，报110.377美元/盎司。 编辑｜钉钉 ...

Core Viewpoint - Kangxi Communication has achieved a preliminary victory against Skyworks, with the U.S. International Trade Commission (ITC) ruling that Kangxi did not infringe on Skyworks' patents, highlighting the capability of Chinese companies to compete with industry giants [2][4]. Group 1: Legal Dispute Overview - The legal conflict between Kangxi Communication and Skyworks began in May 2024 when Skyworks filed a lawsuit claiming patent infringement related to Wi-Fi RF front-end modules [3]. - Skyworks requested damages up to three times its losses and sought a market injunction against Kangxi Communication [3]. - Following the ITC's preliminary ruling, Kangxi Communication was found not to have violated any of the five patents claimed by Skyworks [4]. Group 2: Financial Implications - Kangxi Communication incurred significant legal expenses, totaling approximately 38.84 million yuan in 2024 and an additional 50.59 million yuan in the first three quarters of 2025, bringing total legal costs close to 100 million yuan [6][8]. - Despite revenue growth to 520 million yuan in 2024, Kangxi reported a loss of 76 million yuan due to high litigation costs [6]. Group 3: Market Position and Strategy - Kangxi Communication's primary market focus is not the U.S., with most sales in Hong Kong and Taiwan, and less than 5% in other overseas markets [5]. - The initial ruling has alleviated concerns among European and Southeast Asian customers, potentially boosting exports to the U.S. market [5]. Group 4: Industry Context - The semiconductor industry is witnessing increasing patent litigation, with Kangxi Communication not being the only Chinese company facing such challenges [9][10]. - The competitive landscape is dominated by foreign firms like Skyworks and Qorvo, which hold a significant market share and a vast number of patents compared to Chinese companies [10]. - Kangxi Communication and other Chinese firms are ramping up R&D investments, with Kangxi's R&D spending increasing by 70% to 107 million yuan in 2024 [10]. Group 5: Future Outlook - The outcome of the ITC's final ruling, expected in May 2026, will significantly impact the ongoing litigation in California [4]. - The preliminary victory serves as a positive case for other Chinese tech companies facing international patent disputes, challenging the stereotype of weak patent capabilities [11].