以下文章来源于凤凰网财经 ，作者风暴眼 凤凰网财经 . 你好，我们是凤凰网财经，全球华人都在看的财经公众号，传播最有价值的财经报道，你值得关注！欢 迎访问：http://finance.ifeng.com/ 本文来自微信公众号： 凤凰网财经 ，作者：吕银玲，题图来自：AI生成 在林淼眼中，手机是73岁的奶奶望向世界的窗。只是这扇窗并不总是明亮，有时垃圾堆积如山，将 老人笨拙谨慎的探问，粗暴地堵了回去。 奶奶刘惠琴是一名退休工人，生活在陕西渭南一座小县城，自从七八年前老伴去世后，一直独居。 日子缓慢而重复。她渐渐习惯了用手机打发无聊的时光：窝在沙发里刷视频；早晨洗漱时，把手机搁 在洗手池边，视频放到最大声，她闭着眼睛往脸上冲水，透过哗哗的水流声辨认短剧里主角的台词。 夜是最难熬的，上了年纪以后，刘惠琴的睡眠总是断断续续。她在夜里猛的醒来，身周万籁俱寂，她 一翻身，摸索着将枕边的手机屏幕点亮，看看时钟，接着打开那集短剧，接上了入睡前的剧情。 几分钟后，毫无预兆地，一则广告弹了出来，霸占整个屏幕。 剧情戛然而止。刘惠琴眯起眼，手指在屏幕上胡乱戳点，却怎么也对不准那个小小的"x"键。很快， 在一个误触之后，陌生的应用 ...

以下文章来源于海豚研究 ，作者海豚君 海豚研究 . 有灵魂的思考，有态度的研究！ 本文来自微信公众号： 海豚研究 ，作者：海豚君，原文标题：《H200放行：英伟达6万亿市值路 的"穿云箭"？》，题图来自：AI生成 经过一段时间的传闻酝酿 （媒体爆黄仁勋近期舌战白宫保守派、喊话H200中国也未必会让卖等） 后，美国总统特朗普还是高调宣布了， 美国政府会允许英伟达向中国出售H200芯片， 同样英伟达的 同行也可以向中国销售同H200规格级别的芯片。 当然， 最新构架的Blackwell以及下一代的Rubin都不在名单之列。而且美国政府要从每笔销售额上 抽成25%。 而四季度的英伟达，因为供应链融资、ASIC崛起、中国市场归零、AI投资泡沫等问题，已经原地踏 步有段时间了。 海豚君在近期的AI供应链话语权博弈分析《 AI泡沫"原罪"：英伟达是AI戒不掉的"金毒丸"？ 》中说 过： 在4—5万亿的市值压力之下，英伟达是持续交付芯片、撑起美股半边天，把自己卖成全球AI大基建时 代的"黑色石油"。 而完成这个使命的关键任务之一，就是 把英伟达的技术扩散到全球市场 。比如特朗普带着GPU商家 们去中东等地区签单。也因此，而 ...

这是俄罗斯历史上首次公开将黄金储备用于财政支出。 以下文章来源于盐财经 ，作者凌川儿 盐财经 . 洞察趋势，睿智人生。《南风窗》旗下专业财经媒体。 本文来自微信公众号： 盐财经 ，作者：凌川儿，编辑：江江，题图来自：AI生成 "俄罗斯央行最近出售黄金是一个重要提醒和信号。就我个人而言，此前我也持有部分黄金作为资产 组合一部分，但最近我已卖掉。"近日，半夏投资创始人李蓓对黄金的鲜明观点，引发了广泛关注与 热议。 过去两年，中国央行等多国央行是黄金的主要买家，最近这个因子开始变化。 据新华社报道，俄罗斯中央银行11月20日向俄罗斯国际文传电讯社确认，该行已开始出售储备的实 物黄金，以弥补国家预算所需资金。 此举延续了此前与国家财富基金 （NWF） 黄金交易的操作模式，不过此前交易大多以虚拟方式进 行，政府将黄金出售给央行，或可看作是两方之间的"账面调整"，黄金仍保留在国家储备中。 如今，俄罗斯央行发起的实物黄金交易亦完全是在境内进行，可以将外界关注的交易标的物现货黄 金，看作在俄联邦财政体系里扮演着"内部提款机"的角色，其所有权在央行、本土银行和相关做市商 之间转手，却不会对国际市场造成波动。 卖了多少呢？ 截至 ...

以下文章来源于妙投APP ，作者董必政 妙投APP . 虎嗅旗下二级市场投研服务品牌，为您提供精选上市公司价值拆解，热门赛道产业链梳理 最近，"易中天"又躁动了。 如果说，美股的AI盛宴是在围猎英伟达、谷歌；那么，A股的AI狂欢就集中在两个代号里：一个是 炒芯片的"纪联海"（寒武纪、工业富联、海光信息），另一个则是炒连接的"易中天"（新易盛、中 际旭创、天孚通信）。 中际旭创在11月27日刷新历史高价，天孚通信紧随其后，在12月8日创出新高。截至12月8日，中际 旭创、天孚通信、新易盛的市值分别为6333亿、1842亿和4021亿。 光模块的性能直接决定了数据传输的效率和稳定性。一旦数据传输跟不上，就像高速路上堵了车， 算力再强也白搭。 正因为"算力"与"运力"的搭档，GPU、光模块缺一不可。 但在欢呼声中，资本市场的质疑也没停过。 此前，多少人盯着这个赛道，看到光模块企业有40-60倍、甚至超80倍的PE（市盈率）直呼"泡 沫"，毕竟通信行业的历史估值均值常年趴在15-20倍。 也有观点认为，要想支撑这种估值，企业净利润得维持三位数增长，在成熟制造业里，这简直是天 方夜谭。 出品 | 妙投APP 作者 | ...

Group 1: SpaceX IPO Plans - SpaceX is reportedly advancing its initial public offering (IPO) plan, aiming to raise over $30 billion [2] - The company's overall valuation target is approximately $1.5 trillion, with plans to go public by mid to late 2026 [3] - SpaceX expects to utilize part of the IPO proceeds to develop a space data center, including the purchase of necessary chips [4] Group 2: Microsoft Investment in India - Microsoft announced a $17.5 billion investment over the next four years to develop artificial intelligence and cloud computing infrastructure in India, marking its largest investment in Asia to date [6] - The investment aims to support India's vision of an "AI-first" future, as the country becomes a key battleground in the global AI competition [7] Group 3: Huawei's New AI Division - Huawei's 2012 Lab has established a new foundational model department focused on advancing base model development [8] Group 4: Alibaba's New Business Group - Alibaba has formed a new business group called Qianwen C-end, led by Vice President Wu Jia, which merges two previous groups and aims to create a super app for the AI era [10] Group 5: Nvidia's Chip Sales to China - Former President Trump announced that the U.S. government will allow Nvidia to sell its H200 AI chips to China, with a 25% fee on each chip sold [11] Group 6: Xiaomi's Personnel Changes - Xiaomi has initiated significant personnel adjustments in its China operations, with the China President taking a direct role in driving performance [16] - The restructuring aims to address performance pressures and enhance resource allocation towards growth sectors like automotive [17] Group 7: Impact of AI on Employment - Sundar Pichai stated that AI will impact all job positions, including CEOs, emphasizing the need for individuals to embrace technology to remain competitive [42][43]

Core Viewpoint - The article discusses the significant decline in online consultation volumes, with a reported drop of 40% for some doctors, attributed to the rise of AI tools that are replacing basic medical inquiries and consultations [4][5][6]. Group 1: Impact of AI on Online Consultations - A prominent doctor experienced a 40% reduction in online consultations after the introduction of an AI health management product [4]. - Other platforms also reported a decrease in consultation volumes, averaging around 20% [5]. - A senior industry expert indicated that approximately 80% of standard consultations could be replaced by AI, highlighting a major shift in the online medical consultation landscape [5]. Group 2: Industry Trends and Developments - Two significant events in the internet healthcare sector reflect this trend: Spring Rain Doctor sold 78.29% of its shares for a valuation of 340 million yuan, and WeDoctor launched an international cloud pharmacy [6]. - The penetration of AI into online consultations is evident, with AI tools covering various functionalities from basic inquiries to more complex medical needs [6][10]. Group 3: User Behavior Changes - A user noted a shift in her consultation habits, moving from traditional online doctors to AI tools for basic health inquiries, indicating a change in consumer preferences [9]. - The introduction of AI online consultation products by various companies, including Spring Rain Doctor and MedGPT, has led to a proliferation of AI health management tools [10][11]. Group 4: Future of Online Consultations - The emergence of specialized AI models for specific medical fields is expected to enhance the quality of online consultations, with 22 new specialized models launched in the first half of 2025 [11]. - The transition to AI-driven consultations poses a challenge for traditional online consultation platforms, as they face a decline in user engagement and revenue [12][15]. Group 5: Economic Implications - The free nature of AI health management tools addresses a significant issue in the monetization of online consultations, as users have shown reluctance to pay for services [16][17]. - The article suggests that while the demand for online consultations will decrease, it will not disappear entirely, raising questions about how this demand will be met in the future [17].

以下文章来源于旅界 ，作者theodore熙少 旅界 . 跟踪时代浪潮，讲述文旅商业好故事。 本文来自微信公众号： 旅界 ，作者：theodore熙少，题图来自：AI生成 一 上周末，美加墨世界杯小组赛抽签结果终于公布了。 按照往年经验，这本该是朋友圈刷屏，球迷群炸锅，各大品牌借势海报满天飞的日子。 我特意在隔天清晨打开手机，结果出奇地安静。 微博热搜榜上，前二十名里甚至挤不进一条关于世界杯分组的词条，整个社交媒体像是一潭深不见底 的湖水。 这种冷淡不仅仅停留在公域流量。 身边朋友圈，几乎没人讨论史上首次有48支球队参赛的美加墨世界杯是否有死亡之组，也没人立flag 说一定要去现场见证哪场比赛。 想聊足球，你只能退回到虎扑、懂球帝这些极度垂直的论坛里。在那里，核心球迷依然在分析战术和 对阵，但流量也大不如前。 对于更广泛的大众而言，2026年世界杯似乎只是一个遥远且无关紧要的概念。 那些极少数还对现场观赛抱有兴趣的人，如今只活跃在小红书。 一位生活在北美的博主晒出了2026年世界杯决赛预售票的截图，配文只有两个字：劝退。 一串让人心惊肉跳的数字显示，稍微好一点的位置，票价都在几万美元起步，而包含顶级款待服务的 ...

Core Viewpoint - The article discusses the transformation of traditional manufacturing through the implementation of industrial AI, specifically focusing on Geega's industrial AI platform developed by Geely Group, which aims to enhance efficiency and address challenges in the automotive industry [4][6]. Group 1: Industrial AI Implementation - Industrial AI is seen as a key solution to the structural challenges faced by traditional manufacturing, particularly in the context of real-time decision-making and dynamic optimization [6][10]. - Geega's industrial AI platform has been successfully implemented in Geely, Lynk & Co, and Zeekr factories, resulting in significant improvements such as a 15% reduction in order delivery cycles and a 13% decrease in quality loss costs [4][16]. Group 2: Platform Development Stages - The development of the Geega platform involves four key stages: 1. Standardization of industrial software to enable reuse and promotion [12]. 2. Construction of the GOS (Geely Operating System) to unify the computing environment and application portal [14]. 3. Launch of the AI application platform and business agents to facilitate human-machine collaboration [15]. 4. Establishment of a factory brain for continuous improvement through a PDCA mechanism [15][18]. Group 3: Practical Applications and Outcomes - In the Chengdu factory of Lynk & Co, the implementation of an integrated digital base led to a 13% reduction in quality loss costs, a 10% increase in logistics efficiency, and a 15% decrease in order delivery cycles [16]. - The Ningbo factory of Zeekr saw a 10% reduction in equipment failure rates and an 11% increase in equipment utilization through the establishment of a fully connected factory base [17]. Group 4: Intelligent Agent Architecture - The architecture of the Geega platform's intelligent agent system consists of three layers: perception, decision-making, and execution, enabling comprehensive monitoring and intelligent decision-making [18]. - The platform offers standardized industrial components and modules that can be easily integrated using a low-code approach, allowing users to customize applications without extensive technical knowledge [21]. Group 5: Methodology and Experience Summary - The article emphasizes three key points for constructing intelligent agents: 1. Starting from specific business problems to ensure AI is embedded in practical workflows [30]. 2. Defining data and system modifications based on identified issues to enhance decision-making capabilities [33]. 3. Fostering continuous evolution by accumulating knowledge and experience from each intelligent agent's deployment [34].

Core Viewpoint - The article highlights the significant resurgence of inbound tourism in China, projecting a robust recovery trajectory for the industry, with a notable increase in both visitor numbers and spending, particularly from Western tourists [3][6]. Group 1: Inbound Tourism Growth - Inbound tourist numbers in China are expected to exceed 35 million in 2025, marking a historical high, with a year-on-year increase of over 100% [3]. - The first eight months of 2025 saw 25.58 million inbound foreign tourists, indicating a strong recovery trend [3]. - Shanghai received 6.326 million inbound tourists in the first three quarters of 2025, a 37.14% increase year-on-year [4]. Group 2: Economic Impact - The tourism sector is projected to generate approximately $150 billion in revenue from foreign tourists in 2025, contributing significantly to China's economy [7]. - Guangdong province reported a 27% increase in tourism foreign exchange income, amounting to 160 billion yuan, while Guangxi and Beijing saw even higher growth rates [6]. - The tourism industry is positioned as a crucial contributor to China's balance of payments, especially in the context of global trade challenges [7]. Group 3: Factors Driving Inbound Tourism - The unique appeal of Chinese culture, modern infrastructure, and the introduction of visa-free policies for over 50 countries are key factors attracting foreign tourists [9][11]. - The affordability of services in China compared to developed countries enhances the attractiveness for tourists seeking value [11]. - Improved safety and hospitality in China contribute to a welcoming environment for international visitors [11]. Group 4: Broader Implications - The influx of foreign tourists is seen as a means to enhance China's global image and foster mutual understanding between nations [15][16]. - The article emphasizes the importance of continued openness and reform in sustaining the growth of inbound tourism and addressing internal economic challenges [16][17].

Core Viewpoint - The article reflects on the evolution and decline of the internet, emphasizing the loss of meaningful connections and the rise of AI-generated content, which has transformed the online landscape into a more superficial and commercialized space [4][21][50]. Group 1: Internet Evolution - The article notes significant milestones in internet history, highlighting the closure of various platforms such as Tianya and Mop, marking the end of an era for many users [5][10]. - It discusses the generational divide, with different age groups experiencing the internet in distinct ways, from the pioneers to the digital natives [6][21]. - The decline of personal and community-driven online interactions is emphasized, with a shift towards algorithm-driven content and commercial interests [44][46]. Group 2: AI and Content Generation - The article points out that nearly half of internet traffic is now generated by bots, with a significant portion being malicious, indicating a shift in content creation dynamics [16][49]. - It highlights the prevalence of AI-generated articles surpassing human-written content, raising concerns about authenticity and the value of real human expression [16][49]. - The rise of AI in content creation has led to a loss of genuine interaction, with users increasingly feeling isolated despite the abundance of online content [46][49]. Group 3: Commercialization and Membership Models - The article discusses the commercialization of online services, noting that many apps now require paid memberships, which has changed the landscape of free access to information [39][41]. - It mentions the emergence of various paid courses and content, indicating a shift from sharing knowledge freely to monetizing it [41][42]. - The transformation of the internet into a commercial space has led to a narrowing of user experiences, as algorithms dictate what content is seen, limiting exploration and discovery [44][46].