周三，特朗普政府发布了《AI行动计划》，旨在通过放宽监管和扩大数据中心能源供应，来加速美国人工智能的发展，并在新发布的指导方针中建议，暂停对 那些对新兴技术施加过多规定的州的资金支持。 《AI行动计划》建议改革许可审批流程、简化环境标准，以加快与AI相关的基础设施项目进程。该蓝图还旨在使美国技术成为全球AI的基础。 这份长达23页的计划由特朗普在今年1月上任后不久下令制定， 标志着这届美国政府在人工智能这一可能重塑全球经济的技术领域出台的最重要政策指令。 该蓝图体现了特朗普竞选期间承诺将美国定位为全球AI领导者的承诺，同时废除了拜登政府对AI监管过于严格的政策框架： 特朗普将在周三签署若干行政命令，以推动其AI计划的内容。预计的指令包括：利用美国国际开发金融公司（DFC）和进出口银行，支持美国技术在全球范围 内的部署；另一项命令将要求政府采购的所有大型语言模型必须保持中立、无偏见。 美国国务卿鲁比奥在一份声明中表示： 拜登政府2023年发布了一项命令，该命令曾要求进行广泛的安全测试并强制主要AI开发商发布透明度报告。特朗普则要求制定一条新的AI政策路径，并给白 宫AI事务负责人David Sacks设定了六个 ...

Core Viewpoint - The article discusses the strategic meeting between NVIDIA's CEO Jensen Huang and MiniMax's founder Yan Junjie, highlighting MiniMax's potential as a leading player in the AGI (Artificial General Intelligence) space and its upcoming IPO prospects [1][2]. Group 1: MiniMax's Strategic Direction - MiniMax's strategic focus is on AGI, positioning itself in the foundational infrastructure of general artificial intelligence [3][4]. - The company has been an early mover in the large model and multimodal technology space, distinguishing itself from competitors focused on traditional AI applications [5][6]. Group 2: Business Model and User Engagement - MiniMax's Talkie product has successfully tapped into the emotional companionship market, with projections of over 100 million global users and 11 million monthly active users by 2025 [7]. - The product's design fosters high user engagement through frequent interactions, creating a feedback loop that enhances model optimization [8]. Group 3: Company Values and Management Philosophy - MiniMax emphasizes long-termism, focusing on foundational model development rather than immediate monetization [11]. - The company prioritizes technical excellence, with a management team composed of experts from top research institutions, ensuring a strong technical foundation [12]. - The philosophy of "AI is to understand people, not replace them" reflects MiniMax's commitment to user-centric product development and regulatory compliance [10][12]. Group 4: IPO Expectations - MiniMax has reportedly submitted an IPO application to the Hong Kong Stock Exchange, aiming for a valuation between $4 billion and $5 billion, with plans to raise approximately $5 to $6.4 billion [13]. - The company’s strong technical background and product-technology integration suggest a promising future, but its ability to build a global brand remains a challenge [14][16].

特朗普政府的人工智能政策蓝图即将正式揭晓。 美国总统特朗普将于当地时间周三在华盛顿举行的"赢得AI竞赛"活动上发布期待已久的《AI行动计划》。据知情人士透露，这份20页的文件将围绕基础设施、 创新和全球影响三大支柱展开，主要通过对联邦机构的指令和部分资助项目实施。 据媒体最新报道，了解相关情况的人士表示，该计划"主要是胡萝卜而非大棒"，强调通过激励措施推动AI发展，而非依赖严格监管。这标志着特朗普政府与前 任拜登政府在AI政策上的根本性转向。 该行动计划将重点关注移除监管壁垒、简化数据中心建设许可，以及推广美国AI技术的海外应用。预计该框架将伴随三项行政令的发布，分别针对"觉醒AI"、 促进美国技术出口以及简化数据中心建设流程。 基础设施建设成政策重点 AI行动计划的第一大支柱聚焦AI基础设施建设。该计划强调改革许可规则以简化新建数据中心的重要性，同时专注于电网现代化，包括增加新的电力来源。 这一优先事项在特朗普政府前六个月的政策中已有明确体现。特朗普此前大力推广大规模私人投资以扩展AI基础设施，包括价值5000亿美元的"星际之 门"（Stargate）项目。上周，特朗普在宾夕法尼亚州宣传了来自谷歌、Core ...

Core Viewpoint - Marathon Fusion claims to have developed a method to convert mercury into gold using nuclear fusion, potentially doubling revenue for fusion power plants [1][5]. Group 1: Technology Overview - The technology is based on existing fusion principles, utilizing high-energy neutrons to convert mercury-198 into mercury-197, which decays into stable gold-197 [2]. - The process does not reduce the power output or tritium breeding capabilities of the fusion plant [3]. Group 2: Commercial Potential - Each gigawatt of fusion power capacity is estimated to produce gold worth approximately equal to its electricity revenue, potentially doubling the plant's income [5]. - The global annual gold production is around 3,500 tons, and the company believes the gold produced from fusion can be absorbed by the market without affecting gold prices [6]. Group 3: Challenges and Considerations - The main challenge is the potential radioactivity of the produced gold due to the presence of other mercury isotopes, requiring a storage period of 14 to 18 years for safety [9]. - While particle accelerators have previously synthesized gold, the yield has been minimal and costly [9]. - The technology could also be applied to produce other precious metals, but gold is seen as the most viable option due to market size [10]. Group 4: Industry Context - The commercialization of nuclear fusion still faces significant technical challenges, with no fusion experiment yet producing more energy than consumed, although private investment is increasing optimism in the field [11].

Core Viewpoint - SAIC Group is poised for significant growth in the second half of the year, driven by the launch of multiple strategic new models and a strong performance in the first half, with a notable increase in sales and market position [1][14][19]. Group 1: Product Launches and Innovations - The first model from the SAIC-Huawei collaboration, the "Shangjie" H5, features a spacious design and offers both pure electric and range-extended versions, with a maximum range of 1300 km [3][5]. - The LS9 model from the Zhiji brand is a full-size SUV with impressive dimensions (5279/2000/1806 mm) and a new design philosophy, enhancing its market appeal [7][9]. - Upcoming models from SAIC's self-owned brands include the luxurious Roewe M7 DMH and the upgraded MG4, both promising advanced technology and enhanced user experience [5][12]. Group 2: Sales Performance - In the first half of the year, SAIC Group achieved a vehicle sales volume of 2.053 million units, marking a year-on-year increase of 12.4% [1][14]. - The company's self-owned brands accounted for 63.5% of total sales, with a 21.1% increase in cumulative sales [15]. - SAIC's new energy vehicle sales reached 646,000 units in the first half, reflecting a 40.2% year-on-year growth [15]. Group 3: Technological Advancements - Over the past decade, SAIC has invested nearly 150 billion yuan in core technologies, resulting in over 26,000 effective patents across various platforms [15][17]. - The company has achieved mass production capabilities for L2, L3, and L4 level assisted driving technologies, collaborating with leading suppliers in the industry [15][17]. Group 4: International Expansion - In June, SAIC's overseas sales reached 90,000 units, a year-on-year increase of 11.5%, with a total of 494,000 units sold in the first half [18][19]. - The MG brand has maintained a strong market presence in Europe, achieving over 150,000 deliveries despite high tariffs, and consistently ranking among the top-selling Chinese automotive brands [19].

公安部交管局局长王强7月23日在国新办举行的"高质量完成'十四五'规划"系列主题新闻发布会上表示，目 前，市场上销售的汽车所搭载的"智驾"系统，都还没有实现"自动驾驶"的目标，驾驶人才是最终责任主 体。 ⭐星标华尔街见闻，好内容不错过 ⭐ 本文不构成个人投资建议，不代表 平台 观点，市场有风险，投资需谨慎，请独立判断和决策。 觉得好看，请点"在看" 如果驾驶人在车辆行驶过程中"脱手脱眼"，不仅存在严重道路交通安全风险，还可能面临民事赔偿、行政 处罚及刑事追责三重法律风险。对此，公安机关将会同有关部门进一步加强规范管理。 来源：新华社 ...

Core Viewpoint - Taobao Flash Sale has officially denied recent rumors regarding a so-called "expert interview," stating that the operational strategies, business goals, and related data mentioned are entirely fabricated [1]. Group 1 - Taobao Flash Sale emphasizes that it has never set any "order rush targets," and all business operations follow normal commercial practices, focusing on user needs and merchant development [1]. - The company has issued formal requests to social media platforms to remove false information and is taking legal action to hold those responsible for creating and disseminating the false information accountable [1].

以下文章来源于投资家 ，作者老高 投资家 . 投资家是投资家网旗下专注财经科技领域的内容平台。多次荣获年度影响力财经号，并多次获得百度、头条、新浪、网易、搜狐、东财、同花顺、澎湃等颁 发的荣誉奖项。投资家网是国内知名资本与产业创新综合服务平台。 谁也挡不住，贾跃亭疯狂的脚步。 投资家网获悉，近日大洋彼岸传来惊动全球的炸裂消息，那个跑路美国"永远下周回国"的中国最大忽悠贾跃亭又融资了，再次震碎人类造车史"三观"。 根据外媒报道， FF （法拉第未来）已签订约 1.05 亿美元（约 7.5 亿元人民币）融资协议。算上 2025 年的几笔融资， FF 成立十一年斩获超 50 亿美 元融资 ， 美国及全球资本正"义无反顾"地为贾跃亭梦想窒息。 全球商业史上演着"百年难得一见"的魔幻时刻。 中国网友"公认"的最大忽悠贾跃亭，在缺乏新能源造车沃土的美国，凭借一己之力扭转了造车危局。 贾跃亭的"传奇"人生，恐怕爆火的抖音小短剧也编不 出来，任何人类可行性的逻辑在他身上显得苍白无力，但贾跃亭就是这么魔幻，关键，他的梦想"总有人买单"。 这一次，贾跃亭的造车事业"似乎走向了正轨" ， F F 的新一轮 1.05 亿美元融资并非 ...

Core Viewpoint - The public fund industry in China has experienced significant growth in the first half of 2025, with a notable increase in the scale of public funds and a competitive environment among fund companies [2][30]. Group 1: Top Fund Companies - As of June 30, 2025, the top ten public fund companies by non-monetary scale are: E Fund, Huaxia Fund, GF Fund, Fortune Fund, Harvest Fund, Southern Fund, Bosera Fund, Hua Tai-PB Fund, Huitianfu Fund, and China Merchants Fund [2][7]. - The top two companies, E Fund and Huaxia Fund, have surpassed 1.4 trillion yuan and 1.2 trillion yuan in non-monetary fund scale, respectively, indicating strong market leadership [8][10]. - The third to sixth ranked companies, including GF Fund and Fortune Fund, have all seen growth rates exceeding 8.4%, highlighting a competitive atmosphere within the industry [8][10]. Group 2: Second Tier Companies - The second tier of fund companies, ranked 11th to 20th, includes Penghua Fund, Invesco Great Wall, ICBC Credit Suisse, Guotai Fund, and others, with notable growth in their scales [12][15]. - Guotai Fund has risen to 14th place, driven by the growth of index funds, while Penghua Fund is approaching the 500 billion yuan mark and is expected to challenge for a top ten position soon [13][15]. - Xingsheng Global Fund has also shown double-digit growth, primarily due to increases in bond and index funds [14][15]. Group 3: Middle Tier Competition - The competition among the middle tier fund companies (ranked 21st to 30th) is intensifying, with significant movements in rankings [17][20]. - Xinyi Fund has moved up from 23rd to 21st place with a remarkable growth rate of 20%, while Haifutong Fund has jumped from 33rd to 28th with a 34% increase [18][19]. - Dachen Fund has also seen a 10.14% increase, moving from 24th to 23rd place, indicating a dynamic competitive landscape [20]. Group 4: Emerging Fund Companies - The rankings from 31st to 40th include Huabao Fund, Dongzheng Asset Management, and others, with some companies like Dongzheng Asset Management and Minsheng Jia Yin achieving notable upward movements [22][24]. - The latest rankings show that several companies have successfully risen by two positions, attributed to effective team adjustments and focused product strategies [24][25]. - The number of public fund companies with non-monetary scales exceeding 100 billion yuan has increased to 49, up from 45 in the previous quarter, indicating a growing trend in the industry [29].

Core Viewpoint - The article discusses the ongoing competition among food delivery platforms, highlighting that large subsidies and promotional offers have not diminished despite regulatory scrutiny. The competition has shifted from a short-term battle to a more cyclical and normalized state, particularly affecting the tea beverage industry [1][2][3]. Group 1: Market Dynamics - The market has seen a transition from intense competition to a more regularized form, with tea beverages becoming a key tool for platforms to increase order volume [4][5]. - The expectation of a "win-win-win" scenario for platforms, merchants, and consumers has not been realized, leading to questions about the role of tea brands in this competitive landscape [6][7]. - The current phase of the competition is characterized by direct confrontations among platforms, with a focus on increasing order volumes and reducing the effectiveness of competitors' promotions [13][14]. Group 2: Merchant Perspective - Merchants face a lack of transparency regarding the costs associated with promotional orders, as platform subsidies are often tied to merchant discounts [9][10]. - The burden of promotional costs is shared between merchants and platforms, with merchants typically bearing a significant portion of the costs [11][12]. - The influx of low-priced orders has led to a decline in normal sales, with many merchants reporting that a large percentage of their orders are now promotional [22][23]. Group 3: Financial Implications - The tea beverage industry has seen significant order growth due to platform subsidies, with leading brands benefiting the most due to their strong supply chain capabilities [27][28][29]. - However, the financial burden on brands is increasing, as they often have to share a larger portion of the promotional costs over time [38][39]. - The average price of tea beverages has decreased from 15-20 yuan to 10-15 yuan, leading to a decline in industry profit margins from 21.4% in 2023 to 14.7% in 2024 [46]. Group 4: Competitive Landscape - The competitive environment is becoming increasingly challenging, with a high rate of store openings and closures indicating a struggle for profitability among tea brands [49]. - The reliance on platforms for order volume is raising operational costs and may lead to a decline in efficiency for offline operations [50][51]. - The article suggests that the ongoing price competition may lead to a market correction in the future, but brands that prioritize sales may continue to offer additional subsidies [57][58].