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一场8年谋局,让阿里市值涨了1000亿
虎嗅APP· 2026-01-25 09:33
Core Viewpoint - The article discusses the strategic importance of Alibaba's chip subsidiary, Pingtouge, in the context of its AI ambitions and the competitive landscape of the chip industry in China [4][7]. Group 1: Pingtouge's Role and Strategy - Pingtouge is positioned as a "tactical base" within Alibaba's AI ecosystem, which includes Alibaba Cloud, Pingtouge, and the Qianwen model [4][5]. - Since its establishment in 2018, Pingtouge has been heavily invested in, focusing on developing a full-stack capability across various chip types, including CPU, GPU, and storage chips [5][6]. - Pingtouge's diverse product offerings, such as the AI inference chip Lingguang 800 and the server CPU chip Yitian 710, differentiate it from other domestic chip manufacturers that typically focus on a single segment [6][7]. Group 2: Competitive Landscape - The article highlights the differences in chip strategies among major Chinese internet companies, with Pingtouge adopting a full-stack approach while competitors like Tencent and ByteDance focus on specialized chips [8]. - Pingtouge's strategy is seen as a response to the competitive pressures from companies like Huawei, Xiaomi, and Baidu, which are also heavily investing in chip technology [10]. Group 3: Future Prospects and Challenges - If Pingtouge successfully goes public, it could alleviate Alibaba's financial pressure and allow for more resources to be allocated towards foundational models and consumer AI products [10][11]. - The chip market is characterized as a "slow engineering" field, indicating that long-term investment and sustained effort will be necessary for success [11].
中国U23“惜败”日本,依然是史无前例
虎嗅APP· 2026-01-25 03:36
以下文章来源于地球知识局 ,作者地球知识局 地球知识局 . 人文+地理+设计,全球视野新三观。 合作请联系:xiaobaibai_9999(注明品牌和需求) 本文来自微信公众号: 地球知识局 ,作者:地球知识局 刚刚,2026年U-23亚洲杯的悬念尘埃落定,中国U-23国奥队"惜败"日本。双方经过长达90分钟的鏖 战,最终比分定格在0:4。 看台上的红色海洋如潮水般翻涌,为中国健儿加油打气。虽然最终惜败,但能够挺进决赛,已经标志 着中国青年足球实现了历史性突破。 这场决赛不仅仅是一场足球比赛,它更像是一次关于成长、韧性与宿命的深度对话。 在这个夜晚,门将李昊扑救的瞬间成为了永恒,而年轻的国字号球员们,用汗水在多哈的草皮上书写 了属于这一代人的英雄叙事。 挺进决赛:铁血防线与复仇之战 这种防守至上的务实风格,也成为了中国队此次能够挺进决赛的战术基石。 如果说小组赛是试炼,那么四分之一决赛对阵乌兹别克斯坦,则是这支球队破茧成蝶的转折点。在这 场艰苦卓绝的比赛中,双方在常规时间和加时赛内均无建树。 点球大战成为了门将李昊的个人表演秀。这位被球迷亲切称为"零封居士"的年轻门将,在点球点前展 现出了与年龄极不相称的冷静 ...
珀莱雅正在失速?
虎嗅APP· 2026-01-25 03:36
Core Viewpoint - The article discusses the challenges faced by Proya, a leading domestic beauty brand in China, after achieving the top revenue position in the industry. It highlights the company's struggle to maintain its market leadership amid declining sales and profits, particularly following the transition to a new generation of leadership. Group 1: Company Performance - Proya's revenue for Q3 2025 was 1.736 billion yuan, a year-on-year decline of 11.63%, with net profit dropping by 23.64% to 227 million yuan, marking the first time the company faced a simultaneous decline in both revenue and profit [6][7]. - The company's stock price has significantly decreased from a peak of 129.01 yuan per share in March 2023 to 73.18 yuan per share by January 2026 [6][8]. - In 2024, Proya's main brand revenue reached 10.778 billion yuan, making it the only domestic beauty giant to enter the "100 billion club" [11]. Group 2: Challenges and Market Dynamics - The beauty industry is entering a micro-growth phase, with Proya facing challenges from industry cycles, intensified competition, and internal bottlenecks [7][9]. - Proya's reliance on a few key products, such as the Ruby Essence and the Early C and Late A series, has led to stagnation as these products approach the latter stages of their life cycles [12][13]. - The company is experiencing high marketing costs, which are eroding profit margins, as traditional marketing strategies become less effective in the current market environment [16][18]. Group 3: Strategic Responses - Proya is attempting to revitalize its product lines and has introduced new brands like OR and Cai Tang, but these efforts have not yet compensated for the slowdown in its main brand's growth [14][30]. - The company is also focusing on enhancing its offline presence, having initiated partnerships with offline pharmacies and retail channels, but has seen a decline in offline revenue [21][22]. - Proya's leadership transition has led to significant changes in its executive team, which may impact its strategic direction and operational stability [26][28]. Group 4: Financial Health and Future Outlook - Proya's financial health remains robust, with projected cash flow of 4.07 billion yuan by the end of 2024 and potentially reaching 6.2 billion yuan by the end of 2027, with no short-term or long-term bank loans [31]. - The company is exploring opportunities for international expansion and product development through potential listings and investments, which could provide additional growth avenues [31].
2026,AI才是真革命
虎嗅APP· 2026-01-25 03:36
Core Insights - The article emphasizes that the current state of AI is primarily focused on financial returns, with a significant shift towards understanding its practical applications in business settings [5][6] - It highlights a collective realization that AI's role is often limited to enhancing existing processes rather than creating revolutionary new solutions [12][21] Group 1: AI in Consumer and Business Sectors - In the consumer sector, while AI tools like ByteDance's Douyin and DeepSeek have seen high user engagement, the willingness to pay for advanced services remains low, with a subscription rate of only 25% to 30% in AI education [5][8] - The business sector, however, is more pragmatic, with traditional industries actively seeking to integrate AI to solve specific cost-related challenges, such as reducing bad debt losses in finance or shortening drug development cycles in pharmaceuticals [8][9] Group 2: Challenges in AI Implementation - Many AI startups struggle to demonstrate effective delivery capabilities, as businesses demand integration with existing systems and cost efficiency that outperforms hiring interns [10][11] - The article points out a "productivity paradox," where AI's current applications often lead to increased production of low-value content rather than meaningful improvements [11][18] Group 3: Data and Automation Debt - A significant barrier to effective AI deployment is the "data debt," where many companies lack proper data governance and training, leading to fragmented and unreliable data systems [22][23] - The article also discusses "automation debt," particularly in traditional manufacturing, where outdated software and lack of integration hinder AI's potential [24][25] Group 4: Future of AI - By 2026, the article predicts a major transformation in AI applications, driven by a significant reduction in inference costs, potentially down to 1% of human labor costs, which would fundamentally change the business logic of AI [28] - The emergence of "agent" AI, capable of autonomously completing tasks, is anticipated, with companies needing to encapsulate industry-specific knowledge into software to maintain competitive advantages [30][32] - The article concludes that successful AI applications will seamlessly integrate into existing business processes, focusing on tangible problem-solving rather than abstract concepts [36]
与郭毅可深聊:AI 逼近“全知”,人类会走向精神荒芜吗?
虎嗅APP· 2026-01-24 14:19
以下文章来源于腾讯科技 ,作者郭晓静 腾讯科技 . 腾讯新闻旗下腾讯科技官方账号,在这里读懂科技! 本文来自微信公众号: 腾讯科技 ,编辑:徐青阳,作者:郭晓静 1944年,阿根廷作家豪尔赫·路易斯·博尔赫斯曾在《巴别图书馆》中,为人类构筑了一个由无限六角 形回廊组成的"全书图书馆"。 起初,它是神谕的代名词。人们沉浸在"万物皆已写就"的狂喜中,穷极一生去追寻那本能解释宇宙真 相、甚至是个体命运的"辩护状"。 然而,当狂欢落幕,真相显露:在近乎无限的、由乱码组成的废纸堆里,寻找一行有意义的叙述,概 率微弱到近乎虚无。 信息的极度冗余,非但没有点亮智慧,反而以噪声淹没了意义。 博尔赫斯笔下的旅行者穿梭于周而复始的卷册间,看透了那令人绝望的循环。他预言人类终将灭绝, 而图书馆永存——"青灯孤照,无限不动,藏有珍本,默默无闻。" 我们正站在知识饱和的奇点:当算法可以在瞬间穷尽文字的所有组合,我们是在挖掘通往真理的沃 土,还是在加速步入一片精神的荒原?当一切皆可生成,是否意味着一切皆无意义?人类智慧的护城 河在何方?我们应该如何与AI共存,并利用它创造出真正有价值的内容?那些记录着人类"不完美灵 魂"的文学与艺术,是 ...
镜鉴:韩国是如何走到生育率全球倒数第一的
虎嗅APP· 2026-01-24 14:19
以下文章来源于知社学术圈 ,作者Phoebe Little 知社学术圈 . 海归学者发起的公益学术交流平台,旨在分享学术信息,整合学术资源,加强学术交流,促进学术进步 在所有发达国家,女性都难以兼顾事业、家庭生活和抚育子女。在韩国,这种挑战尤为严峻。韩国女 性的受教育程度很高,在结婚之前,女性就业率与男性几乎没有差距,但是一旦结婚生子后,大量韩 国女性就停止了工作:只有56.2%的母亲依然在岗,这一比例在经合组织成员国中排名倒数第四。 韩国人平均每年工作1865小时,比美国人(1736小时)和瑞典人(1431小时)的工作时间更长。这 使得她们很难平衡工作和母亲的角色,更不用说有时间去做任何其他事情。雇主也对女性施加了巨大 的压力,要求她们不要生育:调查显示,27%的女白领被迫签署不合理的劳动合同,承诺如果怀孕或 结婚就辞职。 种种不利因素叠加韩国臭名昭著的职场性别歧视,超过62%的女性在第一个孩子出生前后就辞职了, 只有很少一部分母亲能够重返职场。 到孩子十岁时,他们的母亲的收入平均会下降66%,这远远高于美国(31%)、英国(44%)和瑞典 (32%)等国家的收入降幅。以上种种都意味着对于韩国女性来说,生孩 ...
反直觉的能源:富足的尽头是稀缺
虎嗅APP· 2026-01-24 14:19
以下文章来源于肖小跑 ,作者肖小跑 肖小跑 . 金融世界不讲道理的时候,向文史哲求救,大概率"叮"的一下就扣上了。因为在这里,您才能再次看 到"人":人的情绪,人的荒诞,人的大举动小动作。这里有世界最本质的规律。 本文来自微信公众号: 肖小跑 ,作者:肖小跑 最近在写关于能源和电力的报告,恶补了很多东西。 看来要补的课确实很多,越补越觉得这是一个很反常识的领域,充满了反直觉的悖论。没想到在能源 行业,这个充满着自然规律的物理世界,人性也会起到作用? 这也是为什么经济学不会消失,它永远在潜移默化中起作用。Long Live Economics。 下面是我的几个反直觉笔记: 01 一个被喊了一百多年的"狼来了"故事:为什么旧能源看不到尽头? "Peak oil"(石油峰值)这个词,大家可能都听过。意思是石油需求或产量会在某一年达到顶峰,然 后开始走下坡路。 问题是,这个"顶峰"已经被预测了无数次,每次都往后推。 那么问题来了:如果新能源是未来,为什么化石燃料的生命周期却一直在延长? 因为人性和博弈。或者更具体一点:PTSD。 早在1880年代,就有美国专家预言宾夕法尼亚油田枯竭后,美国石油工业就完了。1956年, ...
有意思周报|美国一名艺术系学生因对AI不满,当场吃掉另一位学生的艺术作品;自杀舱发明者想推出加载AI的情侣专供版
虎嗅APP· 2026-01-24 12:00
以下文章来源于那个NG ,作者那个NG 还有,21岁男孩见义勇为不幸身亡,母亲多年来一直试图用他的DNA再生一个"他" 那个NG: 阿拉斯加一名艺术系学生因对AI不满,当场吃掉另一位学生的艺术作品 气得想把对方生吞活剥了可能不只是一个形容词。 据阿拉斯加大学费尔班克斯分校学生报《太阳星报》报道,该校电影与表演艺术专业的学生格雷厄姆·格兰杰(Graham Granger)在看到艺术硕士研究生尼 克·德怀尔(Nick Dwyer)创作的AI艺术作品之后暴怒,随即选择当场吃掉它们以表不满。 据《今日心理学》报道,格兰杰声称他愤怒只是因为它们是用AI生成的。但AI其实是创作者德怀尔的艺术主题之一。他表示,自己的作品"在探索身份认同、 人物叙事创作以及在人工智能精神病发作前、发作中和发作后,通过数字互动角色构建虚假的人际关系记忆"。 根据拍摄的照片来看,这件艺术作品由钉在墙上的小型宝丽来风格照片组成。警方估计160张照片中至少有57张被毁,尚不清楚有多少张进了格兰杰的肚 子。 那个NG . 用关注决定视界|复杂世界的策展人 根据阿拉斯加州法院系统的信息,格兰杰于周三被控犯有刑事恶作剧罪,造成的损失低于250美元,属于B ...
术后疼痛难题,以岭给了新解法
虎嗅APP· 2026-01-24 09:43
Core Viewpoint - The article discusses the launch of a new non-opioid analgesic drug, Benanilofen injection, developed by Yiling Pharmaceutical, aimed at addressing postoperative pain management, which affects nearly 70% of surgical patients in China [3][9]. Group 1: Market Context and Demand - In 2024, China's healthcare institutions are expected to have 312 million hospitalized patients, with 104 million surgical procedures, reflecting an 8% increase from 2023 [3]. - A significant portion of surgical patients experience moderate to severe postoperative pain, highlighting the need for effective pain management solutions [3][8]. Group 2: Product Overview - Benanilofen is designed for postoperative pain relief following abdominal and thoracoscopic surgeries, marking a significant advancement in the field of analgesics [3][9]. - The drug aims to optimize the postoperative pain experience by ensuring stable analgesic effects while enhancing safety [9]. Group 3: Company Strategy and R&D Investment - Yiling Pharmaceutical has shifted its focus from traditional Chinese medicine to include chemical drug development, with Benanilofen being its first approved chemical patent drug [12][14]. - The company has significantly increased its R&D investment from 240 million yuan in 2016 to over 900 million yuan in 2024, representing 13.94% of its revenue [12][13]. - Yiling's R&D pipeline includes nine new traditional Chinese medicines and four innovative chemical drugs, indicating a robust commitment to drug development [13][14]. Group 4: Competitive Landscape - The launch of Benanilofen is expected to disrupt the postoperative pain management market, traditionally dominated by imported drugs, by providing a safer and more effective local alternative [17][18]. - Clinical trial results place Benanilofen among the top non-steroidal anti-inflammatory drugs, showcasing its competitive edge in the market [17]. Group 5: Industry Implications - The success of Yiling's chemical drug development serves as a reminder to local pharmaceutical companies that true innovation lies in addressing unmet clinical needs rather than merely following market trends [18].
苹果进入双寡头时代
虎嗅APP· 2026-01-24 09:43
Core Viewpoint - The article discusses the transition of leadership at Apple as Tim Cook approaches retirement, highlighting the potential successors John Ternus and Craig Federighi, marking the end of the post-Jobs era and the beginning of a new "duopoly" leadership structure at Apple [4][24]. Group 1: Leadership Transition - Tim Cook, aged 65, is facing questions about succession as Apple undergoes significant management restructuring following the departures and retirements of several executives [4]. - John Ternus and Craig Federighi are identified as key figures in Cook's succession plan, with Ternus being positioned as a potential CEO due to his youth and extensive experience in hardware engineering [12][25]. Group 2: Design Department Changes - The design department at Apple has undergone significant changes since the departure of former Chief Design Officer Jony Ive in 2019, leading to a fragmented structure with responsibilities split between Evans Hankey and Alan Dye [6][9]. - Ternus was appointed as the "Executive Sponsor" for design, allowing him to bridge the gap between designers and executives, although he does not directly oversee design [10][11]. Group 3: Federighi's Role in AI - Craig Federighi, now overseeing Apple's AI department, has shifted from being an AI skeptic to actively integrating AI technologies into Apple's products, particularly following the emergence of ChatGPT [17][19]. - Under Federighi's leadership, Apple has faced challenges in AI development, leading to the decision to collaborate with Google for AI capabilities, indicating a pragmatic approach to technology integration [20][26]. Group 4: Philosophical Differences in Management - Ternus represents a shift towards a product-driven, engineering-first approach at Apple, moving away from the design-centric philosophy of the past [13][26]. - Federighi's management style emphasizes cost control and practicality, which may lead to a more stable financial performance for Apple, albeit with less revolutionary innovation [22][26]. Group 5: Future Outlook - The combination of Ternus and Federighi as co-leaders may signify a new era for Apple, focusing on operational efficiency and practical product development rather than groundbreaking design [26][27]. - The transition is seen as a response to the evolving tech landscape, with Apple aiming to maintain relevance without overextending financially [22][26].