将投中网设为"星标⭐"，第一时间收获最新推送 "索罗斯老了，现在看我的。" 作者丨 蒲凡 来源丨 投中网 如今聊起创业，最时髦的词语叫 " 超级个体 "、" 一人公司 " 。很多人相信，当世界跑步进入 AI 时代，创业者不需要所谓的 " 组织 "" 协同 "" 团队 建设 " 也同样开发新产品、满足新需求。比如风险投资行业，就堪称这股浪潮中的 " 急先锋 " ： 在过去几年，无数顶级投资人选择离开 A16z 、红杉这样的顶级平台，成立个人的独立基金（ Solo VC ）。人们认为这种不设置团队、不设置复杂决 策流程的公司结构，一方面能够更加 " 敏捷 " ，能跟得上当下不断变化的市场环境，另一方面能够激活基金管理人的 " 创业者 " 心态，更容易与被投 企业在策略优先级上达成共识、更能 " 设身处地 " 地为被投企业着想。 埃拉德 · 吉尔（ Elad Gil ）是这股独立基金创业潮中的绝对榜样。埃拉德 · 吉尔 2020 年开始运营自己的独立基金，先后投中了美国最大杂货配送平 台 Instacart 、全球最大的设计协作平台 Figma 。 2023 年 11 月，埃拉德 · 吉尔完成了个人独立基金的第三期 ...

以下文章来源于虎嗅APP ，作者董必政 虎嗅APP . 从思考，到创造 银价的下跌直接利好电池与组件环节。 作者丨 董必政 编辑丨 丁萍 来源丨 虎嗅APP 白银开始暴跌。 而扣动扳机的，极有可能是一个叫凯文·沃什（Kevin Warsh）的男人。 将投中网设为"星标⭐"，第一时间收获最新推送 随着这位美联储主席热门候选人的上位概率飙升，全球资产定价逻辑正在发生剧烈反转。 此前，银价暴涨逻辑主要有3： 1.美元长期弱势预期强化了白银的"准货币资产"地位，吸引大量保值和避险资金流入，使其从"工业配角"转变为"终极价值储藏工具"； 2.美联储降息压低名义利率和实际利率，大幅降低了白银这类无息实物资产的持有机会成本，激发其金融属性，吸引配置型和交易型资金大规模入场； 3.工业需求刚性增长，供给弹性极低导致2021年以来持续性供给短缺且缺口可能进一步扩大。 妙投认为，银价的下跌直接利好电池与组件环节。 这对于目前普遍亏损、且对银价极度敏感的电池片及一体化企业，是喘息之机。 据2025年业绩预告，4大一体化组件巨头晶科、隆基、晶澳、天合光能的亏损均在40亿元以上，电池企业爱旭股份、钧达股份亏损也超过了12亿元。 本来就 ...

聚焦财务底层逻辑与资本进阶。 来源丨 投中网 由浦东科创集团与投中信息联合主办的"浦东科创-海望登峰（二期）CEO特训营"第五模块课程顺利结课。 本次课程聚焦财务评估与融资规划这一战略 高地，特邀黑马财税CEO、创业黑马集团首席财税专家姚宁，普华永道上海企业交易并购服务部合伙人唐敏捷，行知探索集团董事长、玄奘之路创始人 曲向东，海望资本执行总裁孙加韬，以及家庭教育中外人文交院常务副院长牟丹，分别围绕企业财税合规和优化策略、CEO视角下的财务管理、融资情 况分析等话题展开深度剖析，通过多维度的实战分享，助力学员重构财务底层逻辑，赋能企业稳健增长与资本进阶。 在第一天的课程中， 作为拥有近30年横跨央企、外企及头部事务所经验的资深财税专家，姚宁老师以"18个真实案例+系统方法论"为核心，通过幽默 易懂的方式为学员奉上了一场高密度的财税实务盛宴。 不仅深度解析了新《公司法》背景下注册资本实缴的压力测试与股权架构避坑指南，更直面企业 账外循环、社保合规及虚开刑责等核心痛点，提供了极具落地性的合规治理路径。 课程跳出单一的账务视角，将宏观的"金税四期"监管趋势具象化为企业的数字化应对策略，引导学员们从商业模式重构的高度 ...

大家好，我是长风。今天给大家带来上周资本市场的专业投研信息。 将投中网设为"星标⭐"，第一时间收获最新推送 速览投资风口，掌握资本律动。 作者丨 长风 来源丨 东四十条资本 焦点回顾： 硬科技赛道，半导体芯片仍是热门 。上周，韬润半导体完成数亿元级D++轮新一轮融资。本轮融资由熙诚金睿出任领投方，新微资本、银河源汇、众源 资本、金蚂投资等多家机构联合参投，深创投、高瓴创投、同创伟业等老股东亦超额追加投资。国产智能基座方案提供商润芯微科技（RIVOTEK）正式 宣布完成近4亿元B+轮融资。本轮融资由重庆长嘉纵横私募股权投资基金、恒旭资本、江苏省战新基金、苏州高铁新城国控等多家国资及产业资本共同 参与。 大健康赛道，创新药企业大额融资不断。 上周，专注于实体肿瘤TCR-T免疫细胞治疗药物开发的创新型企业新景智源宣布完成逾2亿元B轮融资。本轮 融资由杏泽资本和某知名产业基金共同领投，德联资本、元禾控股、苏州天使母基金跟投，老股东同高资本、格林美持续大力加持。此外，专注于中枢 神经系统（CNS）领域的创新生物医药公司纽欧申医药完成数千万美元的A+轮融资。本轮融资由礼来亚洲基金领投，Pivotal碧沃投资本跟投，现有股 ...

以下文章来源于豹变 ，作者张经纬 豹变 . 直抵核心。做最具穿透力、洞察力的商业观察，深度影响未来。 AI应用争夺"全民时刻"。 作者丨张经纬 编辑丨邢昀 来源丨豹变 临近春节，AI应用纷纷计划给用户发钱。 腾讯元宝在2月1日上线春节红包活动，预计共发放10亿元，单个用户最高可获得万元。对此马化腾 表示，"希望重现微信红包的盛况"。 老对手字节豆包则将目光投向了春晚，火山引擎将成为央视春节晚会独家AI云合作伙伴，AI助手豆 包也将配合上线多种互动玩法，其中也包括发红包。 百度文心则双管齐下，1月26日至3月12日，在百度APP使用文心助手，用户会得到总计5亿、最高1 万的现金红包。此外，百度APP也将成为北京电视台春晚的首席AI合作伙伴。 将投中网设为"星标⭐"，第一时间收获最新推送 这熟悉的一幕，仿佛是移动支付与短视频时代春节"撒币拉新"的翻版。巨头们不惜重金，想复刻当年 微信支付"偷袭珍珠港"式的成功，为尚未引爆的AI应用寻找那个关键的"全民时刻"。获取用户心 智，也是为了跑通商业化路径。 然而，在移动互联网用户增长见顶、注意力极度分散的今天，AI的"红包大战"还能烧出之前的故事 吗？ 春节，互联网产品的 ...

以下文章来源于东四十条资本 ，作者韦香惠 东四十条资本 . 聚焦股权投资行业人物、事件、数据、研究、政策解读，提供专业视角和深度洞见 | 创投圈有趣的灵魂 将投中网设为"星标⭐"，第一时间收获最新推送 GEO成史上最短命概念股？ 不过，该行业仍处于发展早期。一部分公司正试图以算法构筑护城河，通过自研智能体分析大模型的 " 思考轨迹 " ，再生成更符合 AI 偏好的内容进行精准分发；而在产业链上游，源码商则扮演着另一 种角色，不直接面向终端客户，而是生产软件工具出售给渠道商，由后者通过贴牌账号服务大量企业 客户。 作为一种新型营销工具， GEO 的真实效果仍难以被量化验证，其商业价值、可持续性与估值逻辑都 尚未定型。 "马斯克也要涉足GEO" 马斯克又带火了一个概念。 1 月 10 日，马斯克在社交媒体平台 X 发文称，将在一周内正式开源 X 平台最新的内容推荐算法。 本次开源将覆盖 " 所有用于决定向用户推荐自然内容和广告内容的代码 " ，并强调这只是第一步。 后续将每四周更新一次代码，同时附带开发者说明，标注算法和逻辑上的改动内容。这一举动被市场 普遍解读为 " 马斯克也要涉足 GEO" 。 作者丨韦香惠 ...

将投中网设为"星标⭐"，第一时间收获最新推送 短短数月间，国产AI芯片产业打开了全新的资本局面。 国产GPU"四小龙"最后一家也即将登陆资本市场。 作者丨黎曼 编辑丨 王庆武 来源丨 投中网 时间来到2024年底的E轮融资，也是IPO前的最后一轮，腾讯作为参投方之一持续在场。本轮融资后，公司投后估值超200亿 元。 上交所信息，上海燧原科技股份有限公司科创板IPO获受理，拟募资60亿元。 燧原科技是"四小龙"中成立时间最早的，由清华无线电85系、曾任职AMD的赵立东创立于2018年。上市前，在上百位股东的 支持下，燧原科技估值来到200亿元。 从摩尔线程、沐曦股份先后登陆科创板，到壁仞科技登陆港股，再到燧原科技IPO受理，短短数月间，国产AI芯片产业打开了 全新的资本局面。 又有上百个股东"赢了" 燧原科技背后站上了上百位股东，皆迎来"收获"。 其中，腾讯无疑是最大赢家：连续投资六轮，持股20.258%，位居第一大股东。 腾讯首次投资是在2018年8月的Pre-A轮融资中，总额3.4亿元，腾讯领投，种子轮投资方亦合资本、真格基金、达泰资本、云 和资本继续跟投。该轮融资打破了当年行业纪录。 2019年6月，燧原 ...

Core Viewpoint - The competition for CFOs in the embodied intelligence sector has intensified, with companies offering salaries as high as 30 million yuan to attract talent, reflecting a deep understanding of financial management despite their current lack of profitability [3][6]. Group 1: CFO's Role and Industry Dynamics - Traditionally, CFOs are seen as "tool people" focused on facilitating IPOs, but the evolving landscape requires them to possess a broader skill set, including business acumen and strategic insight [5][6]. - The financing environment for the embodied intelligence industry is becoming increasingly challenging, with a trend towards capital concentration where the top 10 companies account for about 40% of total financing [6][7]. - The industry's reliance on external financing is critical for survival, making the role of CFO pivotal in navigating these financial challenges [6][7]. Group 2: Recruitment Challenges and Market Trends - The high salaries for CFO positions are driven by a scarcity of qualified candidates, with only companies generating over 1 billion yuan in annual revenue or holding substantial cash reserves able to justify such budgets [9][10]. - The recruitment process for high-level executives is lengthy and complex, often taking six months to a year, as it requires a deep understanding of both the company’s needs and the candidates' capabilities [9][10]. - Founders often struggle to articulate their needs for executive roles, complicating the recruitment process and leading to a reliance on headhunters who must navigate these uncertainties [10][11]. Group 3: Shifts in Recruitment Focus - The demand for talent in the startup sector, particularly in the embodied intelligence field, is surging, with many companies experiencing rapid team expansions [13][15]. - Headhunters are increasingly shifting their focus from traditional VC/PE markets to startups, driven by clear recruitment needs and budget availability [14][15]. - Despite the challenges in finding candidates for high-salary positions, the overall recruitment landscape in startups is seen as more promising compared to traditional financial markets [16].

Core Viewpoint - The article discusses the significant surge in demand and prices for storage chips driven by AI, highlighting the emergence of domestic companies like Baiwei Storage as key players in this evolving market [4][10]. Group 1: Market Dynamics - The price of DDR5 memory has skyrocketed by over 300%, and enterprise SSDs are in short supply, with HBM (High Bandwidth Memory) orders extending to 2027 [4]. - The price of HBM3E chips has increased by 50%, reaching over $500, while the total cost for a complete HBM3E memory module ranges from $2,800 to $3,100 [7]. - The overall DRAM contract prices are expected to rise by 55% to 60% in Q1 2026, with NAND Flash products also seeing price increases of 33% to 38% [17]. Group 2: Company Performance - Baiwei Storage (688525.SH) anticipates a 4-5 times increase in annual performance, with projected net profits for 2025 reaching between 850 million to 1 billion yuan, marking a year-on-year growth of 427% to 520% [4][7]. - The company's stock price has surged from around 110 yuan to a peak of 199.38 yuan, reflecting an 81% increase and a market valuation nearing 900 billion yuan [12]. Group 3: Strategic Initiatives - Baiwei Storage has submitted a prospectus to the Hong Kong Stock Exchange to capitalize on the AI wave, focusing on advanced packaging and testing capabilities, as well as CXL memory pooling technology [5][9]. - The company plans to use funds from its IPO to enhance R&D and production capabilities for high-end DRAM modules and enterprise SSDs, while expanding its global sales and service network [9]. Group 4: Competitive Landscape - Major players like Samsung and SK Hynix are increasing prices and extending delivery times, indicating a tight supply chain for high-end memory products [8]. - Baiwei Storage has successfully integrated into the supply chains of top global tech companies, including Meta and Google, providing embedded storage solutions for AI devices [15]. Group 5: Future Outlook - The ongoing price increases and demand for storage chips are expected to continue until at least mid-2026, with a potential supply-demand imbalance lasting until 2028 [18]. - The surge in IPO activities among storage chip companies reflects a broader trend of value reassessment in the industry, driven by AI computing needs and domestic market dynamics [20].

Core Viewpoint - The article highlights the emergence of significant investment funds in China, particularly focusing on the AI and technology sectors, driven by local governments and state-owned enterprises, showcasing the potential of county-level economies like Kunshan to lead in industrial investment and innovation [6][7][9]. Group 1: Investment Funds and Their Focus - Kunshan Artificial Intelligence Industry Fund has a total scale of 5 billion RMB, with the first phase at 2 billion RMB, targeting AI core hardware, computing power, large models, and AI+ manufacturing [6]. - The fund is led by Kunshan Chuangkong Group and collaborates with notable partners like Su Chuangtou and Hua Ying Capital, indicating a strong resource allocation [6]. - In addition to Kunshan's fund, 13 new funds were established in the same week, including a 2 billion RMB CVC sub-fund and a 20 billion RMB energy storage fund, reflecting a broader trend of fund establishment across various regions [9]. Group 2: Economic Context of Kunshan - Kunshan has ranked first among China's top counties for over a decade, with a GDP of 538.017 billion RMB in 2024, surpassing several provincial capitals [7]. - The city has an industrial output value of 1.24 trillion RMB, making it the first county-level city in China to exceed a trillion in industrial output [7]. - Kunshan has developed a world-class industrial cluster in electronics and high-end manufacturing, producing about one-third of the world's laptops and one-tenth of smartphones [8]. Group 3: Strategic Advantages - Kunshan's geographical location between Shanghai and Suzhou allows it to leverage resources from both cities, enhancing its role in AI research and financial resource absorption [8]. - The city has established a robust financial ecosystem with over 130 billion RMB in fund matrices, demonstrating effective collaboration between government, state-owned enterprises, and private capital [9]. Group 4: Other Notable Funds - The Beijing Beigong Zhizhi Venture Capital Fund, with a scale of 200 million RMB, focuses on AI+, new information technology, and smart manufacturing [11]. - The Hunan Jiangyuan Xiangneng Investment Fund has been established with a capital of 1 billion RMB, targeting private equity investments and asset management [12]. - The Wuxi Xichuang Yingtai Equity Investment Fund has been set up with a scale of 500 million RMB, emphasizing local investment and capital flow [13].