7月27日，在"大爱无疆·模塑未来"WAIC 2025大模型论坛上，商汤科技发布「悟能」具身智能平台。 「悟能」具身智能平台以商汤具身世界模型为核心引擎，依托商汤大装置提供端侧和云侧算力支持，能 够为机器人、智能设备提供强大的感知、视觉导航及多模态交互能力，推动智能终端向更高层次的自主 化与智能化演进。 ...

Core Insights - The 2025 World Artificial Intelligence Conference (WAIC 2025) is being held in Shanghai from July 26 to 28, where Worthbuy Technology and SenseTime have signed a strategic partnership to promote "AI + consumption" innovation [1][3]. Group 1: Strategic Partnership - Worthbuy Technology and SenseTime will collaborate to create an AI shopping assistant named "Zhang Dama," leveraging SenseTime's cloud application capabilities and Worthbuy's high-quality consumer data [3]. - The partnership aims to enhance consumer decision-making efficiency and experience by exploring deep connections between AI and consumption scenarios [3][4]. Group 2: AI Product Matrix - In 2023, Worthbuy Technology has prioritized AIGC as a key strategy, with plans to release a comprehensive AI strategy in 2024, which includes a product matrix consisting of "1 large model, 2 databases, 3 engines, and 4 application types" [3]. - The company is focusing on AIUC engine capabilities to understand online consumer content, effectively curating and summarizing real consumer experiences for decision support [3]. Group 3: Future Developments - The AI shopping assistant "Zhang Dama" will utilize a new generation of reasoning engines to combine intent analysis and task execution for one-stop shopping management [4]. - The partnership is expected to lead to deeper understanding, stronger execution, and higher security in the shopping process, with an iOS version of "Zhang Dama" set to launch soon [4].

Group 1 - ByteDance's Coze platform has announced its open-source initiative under the Apache 2.0 license, which includes Coze Studio and Coze Loop, requiring minimal system specifications for deployment [1][2] - OpenAI is set to launch GPT-5 in early August, along with mini and nano versions for API use, while also preparing an open-source language model expected to be released by the end of July [2][3] - Intel plans to lay off approximately 24,000 employees by 2025 as part of a restructuring plan, which represents about 25% of its workforce [6][7] Group 2 - Amazon's AI research institute in Shanghai has been disbanded, marking a trend of tech giants withdrawing R&D centers from China, despite AWS being a profitable division [8][9] - Perplexity AI has secured $100 million in new funding, raising its valuation to $18 billion, and aims to compete directly with Google Chrome through its new AI browser [19] - SenseTime is establishing an independent embodied intelligence company, focusing on AI applications and collaborations in the robotics sector [20][21] Group 3 - Xiaopeng Robotics is actively recruiting talent, with former ByteDance employee Chen Jie joining the team, indicating a strategic push in humanoid robotics [22] - Tesla's diner in Los Angeles generated $47,000 in revenue within six hours, with plans to replicate this model in Shanghai by early 2026 [23] - Alibaba has launched the Qwen3-Coder AI programming model, which surpasses existing models in coding capabilities, enabling rapid development for new programmers [28]

Group 1 - The forum highlighted the critical relationship between mathematics and artificial intelligence, questioning which one shapes the other [1][2] - Basic mathematical research is being revitalized as a key driver for advancing artificial intelligence technology [1] - Experts emphasized that China's AI development is still in the engineering phase and must focus on foundational theory to gain international standing [1] Group 2 - The interaction between mathematics and artificial intelligence is expected to flourish, leading to significant synergies [2] - Mathematics will provide new insights to better understand the latest developments in AI, while AI will stimulate new mathematical problems [2] Group 3 - A unique segment of the forum involved the selection of 10 mathematical problems by Professor Shing-Tung Yau, inviting global solutions [3] - Real-time reasoning processes from various AI models were showcased, marking an experimental exploration of the integration of AI and advanced mathematical research [3] - Shanghai is positioning itself as a leader in the fusion of AI and mathematics, with systematic initiatives aimed at theoretical breakthroughs and practical applications [3]

Core Insights - The evolution of AI has transitioned from perceptual intelligence to generative intelligence, with future breakthroughs relying on active exploration and interaction with the real world [2] - The current natural language data may be exhausted by 2027-2028, while visual data, although abundant, is challenging to extract knowledge from [2][3] - The growth of computational power is outpacing the generation of data, leading to a mismatch in model data requirements [3] Group 1 - The origin of human intelligence is rooted in continuous interaction with the physical world, which has been a limitation for machine intelligence due to the finite supply of human knowledge [2] - Deep learning algorithms, such as CNN and ResNet, spurred the explosion of perceptual AI from 2011 to 2012, but these models are limited by their reliance on manually labeled data [2] - The introduction of the Transformer architecture in 2017-2018 allowed AI to extract knowledge from natural language, with models like GPT-3 processing text equivalent to a hundred thousand years of human creative output [2] Group 2 - The next stage of AI development requires overcoming the challenge of scarce active interaction data, as human learning is based on interaction with the physical world rather than solely on language or visual inputs [3] - The high cost of real-world interaction and the limitations of traditional solutions, such as simulators, contribute to the "Sim-to-Real Gap," where generated data may not accurately reflect reality [3] - The company has introduced the "KAIWU" world model, which aims to provide high-quality simulated data by considering time and spatial consistency, enhancing AI training capabilities [3]

Group 1 - The core viewpoint of the articles highlights the growing interest of international investors in China's artificial intelligence sector, particularly through the strategic investment by Infini Capital in SenseTime, which raised HKD 2.5 billion through a share placement [2][3]. - SenseTime's strategic focus includes the development of core business areas and innovative sectors such as embodied intelligence, RWA (real-world assets), and stablecoins, indicating a broadening of its operational scope [2][3]. - Infini Capital aims to connect international capital with outstanding Chinese technology companies, emphasizing investments in AI, high-end manufacturing, and new energy sectors, showcasing a trend of increasing international interest in Chinese tech firms [2][3]. Group 2 - SenseTime is enhancing its capabilities in general artificial intelligence through its "big device - big model - application" strategy, which includes the development of the SenseCore AI infrastructure and the SenseNova model [3]. - The company is actively engaging in the digital finance space, focusing on RWA, digital assets, and stablecoins, while providing advanced risk control and compliance solutions for financial institutions [3]. - The upcoming "2025 World Artificial Intelligence Conference" will see SenseTime unveil a new embodied intelligence system, further solidifying its position in the AI landscape [3]. Group 3 - Morgan Stanley's recent report indicates that significant breakthroughs in AI and other fields in China have led international investors to reassess the prospects of Chinese stocks, resulting in a notable increase in investment appetite [4].

Key Points - The article discusses various developments in the automotive and technology sectors, highlighting partnerships, financial results, and strategic moves by companies like Tesla, Xiaomi, and ByteDance [4][35][36][37]. Group 1: Automotive Developments - Jia Yueting and Wei Jianjun are collaborating, with Great Wall Motors being the first company to implement the "China-US automotive industry bridge strategy" proposed by Jia [4]. - NIO has produced its 800,000th vehicle, with the L90 model accelerating production and inventory preparations [14]. - Tesla reported a 12% decline in revenue to $22.496 billion and a 16% drop in net profit, attributing the decline to reduced sales and carbon credit income [35][36]. Group 2: Technology and AI - ByteDance's TikTok is projected to generate $23 billion in revenue in 2024, marking a 42.8% year-on-year increase, making it the fourth-largest social media app globally [36][37]. - Xiaomi's YU7 has completed road tests covering 7.19 million kilometers, showcasing its reliability across various terrains [6][7]. - SenseTime's "1+X" structure has seen six ecosystem companies raise approximately 1.8 billion yuan, with a total equity value nearing 10 billion yuan [10]. Group 3: Corporate Changes and Strategies - Baidu's Vice President Shang Guobin is leaving the company, having previously overseen the Baidu Maps business [6]. - Baidu has initiated a new round of personnel rotations, with a focus on integrating AI capabilities into its map services [12]. - Meituan has launched the "Million Bright Kitchen" initiative to enhance transparency in food safety by allowing customers to view real-time kitchen conditions [20]. Group 4: Market Trends - The global retail market for panoramic cameras is expected to grow from 2.51 billion yuan in 2017 to 7.85 billion yuan by 2027, with DJI entering this market [15]. - The demand for AI talent is high, with over 40% of employees in leading AI companies expressing intentions to switch jobs [30]. - AMD's CEO Lisa Su indicated that chips produced at TSMC's Arizona facility will cost 5% to 20% more than those made in Taiwan, emphasizing the importance of diversifying supply chains [41].

Group 1: Company Highlights - Vailizhibo-B (HK09887) listed on the Hong Kong Stock Exchange on July 25, with a significant dark market performance, reaching a peak of HKD 82.00, up over 134% from the IPO price of HKD 35.00, closing at HKD 69.75, a 99.29% increase [1] - SenseTime (HK00020) announced a placement to raise approximately HKD 2.5 billion by issuing about 1.667 billion Class B subscription shares at a subscription price of HKD 1.50, a discount of about 6.25% from the last closing price of HKD 1.64 [2] - Juzi Technology submitted a new prospectus to the Hong Kong Stock Exchange for a second time, focusing on the baby electronic products sector, with projected sales of nearly 1.4 million baby monitors in FY2024, marking a historical high [3] - Zhonghui Biotechnology-B submitted a listing application to the Hong Kong Stock Exchange, focusing on innovative vaccines, with core products including a quadrivalent influenza virus subunit vaccine and a rabies vaccine under development [4] Group 2: Market Performance - The Hang Seng Index closed at 25,667.18, with a gain of 0.51% on July 24 [5] - The Hang Seng Tech Index stood at 5,743.00, experiencing a slight decline of 0.05% [5] - The National Enterprises Index reached 9,257.62, with an increase of 0.18% [5]

Core Insights - SenseTime Technology has secured HKD 2.5 billion in financing to advance its AI cloud, large models, and embodied intelligent robots business [1] - The financing round was fully subscribed by InfiniCapital, indicating strong international capital interest in the AI sector [1][2] - The funds will primarily support core business development, including AI cloud infrastructure, generative AI research, and the exploration of new technologies like blockchain and real-world assets [3] Financing Details - The company issued 1.667 billion shares in the subscription agreement [1] - The financing is expected to enhance the company's position in the generative AI field and improve market penetration [2] Business Development Focus - The net proceeds from the financing will be allocated to four main areas: 1. Supporting core business development, including AI cloud and infrastructure expansion [3] 2. Advancing generative AI research and commercial applications in vertical scenarios [3] 3. Exploring technology integration in innovative vertical fields, including embodied intelligent robots and digital assets [3] 4. General operational funding [3] Market Trends - The generative AI revenue for the company reached CNY 2.4 billion in 2024, marking a 103.1% year-on-year growth, with revenue share increasing from 34.8% in 2023 to 63.7% [4] - The embodied intelligence market in China is projected to reach CNY 973.1 billion in 2024, highlighting its potential as a key growth area for the company [6] Strategic Initiatives - The company plans to establish an independent embodied intelligence division led by experts in AI vision [7] - The company has been actively exploring embodied intelligence applications, showcasing AI-driven solutions in various sectors [8][10] - The upcoming 2025 World Artificial Intelligence Conference will feature the launch of an embodied intelligence "brain" platform, integrating perception and multi-modal interaction capabilities [10]

Core Viewpoint - SenseTime Technology, known as the "first AI stock," announced a subscription agreement to issue approximately 1.667 billion shares at a price of HKD 1.5 per share, raising around HKD 2.5 billion for business development in areas like embodied intelligent robots and digital assets [1] Group 1: Financing and Business Structure - This marks SenseTime's third round of refinancing since its IPO at the end of 2021, following two rounds that raised nearly HKD 4.8 billion in June and December 2024 [2] - The company was founded in 2014 by AI scientists from the Chinese University of Hong Kong and has received significant investment from major firms, including SoftBank and IDG [2] - SenseTime's IPO in late 2021 raised approximately HKD 5.8 billion, making it the first AI software company listed on the Hong Kong Stock Exchange [4] Group 2: Revenue and Business Focus - SenseTime has shifted its revenue focus from smart business and smart city solutions to generative AI, which has become its core narrative [4] - In 2024, revenue from generative AI grew by 103.1% year-on-year to HKD 2.404 billion, accounting for 63.7% of total revenue, while revenue from visual AI dropped by 39.5% to HKD 1.112 billion [4] - The company restructured its business into a "1+X" model, focusing on generative AI and separating other business units for independent financing [5] Group 3: Financial Performance and Challenges - Since 2018, SenseTime has not achieved profitability, accumulating losses exceeding HKD 50 billion, with cash reserves totaling HKD 12.75 billion as of the end of 2024 [5] - The net cash used in operating activities increased to HKD 3.927 billion in 2024, attributed to higher resource demands from generative AI [5] - As of December 31, 2024, accounts receivable stood at HKD 6.974 billion, with a notable increase in overdue receivables over three years [6]