Investment Rating - The report maintains an "Outperform" rating for the communication industry, indicating expected performance above the market benchmark by over 10% [6][46]. Core Insights - The communication industry is experiencing significant growth driven by advancements in AI infrastructure and cloud computing technologies, with companies like AWS and Marvell leading the charge [5][11][18]. - Credo's revenue growth is attributed to the expansion of AI training and inference infrastructure, with a notable increase in demand for AEC and ALC products [3][21]. - Marvell's acquisition of Celestial AI is a strategic move to enhance its capabilities in data center optical interconnect technology, positioning the company for future growth in AI and cloud data centers [2][18]. Summary by Sections Industry News Tracking - AWS successfully hosted its annual re:Invent cloud computing conference, unveiling the next-generation AI training chip Trainium 4, which supports NVLink Fusion technology [11][12]. - Marvell reported a 37% year-over-year revenue increase for FY2026Q3, driven by data center demand and operational efficiency, and announced a $3.25 billion acquisition of Celestial AI to enhance optical interconnect technology [2][13][18]. - Credo's FY2026Q2 revenue reached $268 million, reflecting a 20.2% quarter-over-quarter increase, with ALC expected to drive future growth [3][21]. Market Performance Review - The communication sector index rose by 3.69% this week, outperforming the Shanghai Composite Index, which increased by 1.28% [4][36]. - Key sectors such as satellite internet, optical devices/chips, and IoT controllers showed strong performance, with respective increases of 9.85%, 5.93%, and 4.35% [36]. Investment Recommendations - The report suggests continued focus on AI computing infrastructure development, recommending investments in optical devices, communication equipment, and liquid cooling technologies [5][43]. - The three major telecom operators are highlighted as important assets for dividend allocation, with stable operations and increasing dividend payouts [5][43].

撞上微信的"风控墙"后，豆包助手被越来越多的App拦在门外。 南都记者实测发现，截至12月5日，QQ、支付宝、淘宝、淘宝闪购、高德地图、拼多多、建行、农行等App，均限制豆包助手进行自动化任务操作。即使在 手机设置中关闭豆包助手功能，部分App依然无法登录。许多App厂商也并不认可有对豆包助手采取针对性风控措施。 这款字节跳动发布一周的AI手机智能体，先是引起外界对其自主操作任务能力的赞许，继而陷入舆论漩涡。 根据实测，凭借与中兴努比亚的深度"联姻"，豆包助手拿到一般App无法获取的更高层级操作系统权限。这是其能像人一样使用各款App的技术基础，从而 帮人类代劳完成诸多任务。便利背后，豆包助手也因此被质疑调用系统级敏感权限，让用户隐私有被侵害之虞。 豆包助手还可能改变用户使用手机的习惯。努比亚M153手机为豆包助手专门配置了物理按键。用户长按该键即可唤醒豆包助手，通过语音发出指令，豆包 助手便会调用手机桌面上的相应App去执行任务。这一过程中，豆包助手成为流量分发的入口，被调用的App变成"配角"。在许多声音看来，手机AI助手的 出现，可能搅动既有的互联网平台竞争格局。 争议之下，豆包助手官方不得不数度回应。 ...

Investment Rating - The report suggests focusing on sectors driven by domestic AI development such as servers and IDC, as well as sectors like servers and optical modules driven by overseas AI development [5] Core Insights - Marvell reported revenue of $2.075 billion for the quarter, exceeding market expectations and guidance by $15 million, and announced the acquisition of Celestial AI for approximately $3.25 billion to enhance its position in the CPO field [1][50] - AWS launched the AI training chip Trainium 3 with a computing power of 2.52 PFLOPS FP8 at its annual cloud computing event, indicating strong growth in AI infrastructure [1] - Credo's Q2 FY2026 revenue reached $268 million, a year-over-year increase of 272.1%, driven by growth in its core AEC and IC businesses [1] - DeepSeek introduced two AI models, achieving performance levels close to GPT-5, indicating advancements in domestic AI capabilities [1][47] - ByteDance's Doubao team launched the "Doubao Phone Assistant," with the first device selling out quickly, showcasing the potential for AI applications in consumer electronics [1] Summary by Sections Communication Sector - The communication sector shows a steady upward trend, with significant investments in cloud and IDC businesses compensating for pressures in traditional telecom services [14] Server Sector - The server index decreased by 1.22% this week, but AWS's announcement of a significant expansion in AI/HPC data centers suggests ongoing demand growth [2][7] Optical Modules - The optical module index increased by 4.67%, supported by Marvell's strong quarterly performance and strategic acquisition [2][7] IDC Sector - The IDC index rose by 0.50%, with DeepSeek's new AI models expected to drive demand in data centers [3][8] Core Data Updates - Telecom business revenue reached 1.467 trillion yuan in the first ten months of 2025, a year-over-year increase of 0.9% [4][15] - The export value of optical modules decreased by 27.6% year-over-year in October, attributed to domestic companies establishing overseas factories [31] Market Trends - The communication sector's performance this week ranked second among all industries, with notable gains in specific companies [39][42]

Group 1 - Doubao mobile assistant faces login restrictions from Alibaba apps, including Taobao and Xianyu, due to security measures [3][4] - Doubao assistant claims it does not bypass authentication for sensitive operations and plans to adjust AI capabilities in certain scenarios [4][5] - The initial release of Doubao mobile assistant sold out quickly, with second-hand prices significantly higher than the official price, indicating strong market interest [5] Group 2 - The T800 humanoid robot from Zhongqing Robotics gained attention after a video showed it kicking the CEO, highlighting the robot's capabilities [6][9] - T800 is priced starting at 180,000 yuan and features advanced joint modules and sensory technology for various tasks [9] Group 3 - Jiuyue Automotive is undergoing bankruptcy restructuring, with plans to introduce new investors while Baidu seeks to exit its investment [10][11] - The restructuring faces challenges due to significant debt, estimated at 7 billion yuan, with major stakeholders like Geely and Baidu involved [11] Group 4 - Apple CEO Tim Cook reportedly experiences hand tremors, raising concerns among employees amid significant executive turnover at the company [12][13] Group 5 - New Oriental employee expresses dissatisfaction with the company's overtime culture, leading to internal repercussions [14][15] - The employee's complaints highlight issues with work-life balance and management practices within the company [14][15] Group 6 - Canon's Zhongshan factory announced generous severance packages for laid-off employees, with compensation reaching up to 400,000 yuan [16] - The factory's closure is part of a broader trend of production capacity shifting to Southeast Asia [16] Group 7 - A controversy arose when the chairman of Aibisen rejected the position due to dissatisfaction with a salary of 4.35 million yuan, which was later attributed to a clerical error [17] Group 8 - Meta's CEO Mark Zuckerberg plans to shift focus away from the metaverse, with the division having incurred losses exceeding 70 billion dollars [18][19] Group 9 - Microsoft denies reports of lowering AI sales targets, clarifying the distinction between growth goals and sales quotas [20][21] Group 10 - Nvidia launched the Alpamayo-R1 model, aimed at advancing autonomous driving technology through a new visual language model [28][29] Group 11 - Li Auto introduced its first AI smart glasses, Livis, with a starting price of 1,699 yuan after subsidies, aiming to integrate AI capabilities into daily life [30][31] Group 12 - MiHoYo's co-founder launched an AI chat model, AnuNeko, which aims to create interactive NPCs for gaming, reflecting a unique approach to AI integration in games [33][34] Group 13 - SenseTime released the NEO architecture for multimodal models, marking a significant advancement in AI capabilities [35]

个股方面，本周C中国铀（001280）、天孚通信（300394）、京东方A获主力净流入居前，分别为36.54 亿元、26.74亿元、18.05亿元；净流出方面，香农芯创（300475）、蓝色光标（300058）、中兴通讯遭 主力净流出居前，分别为32.11亿元、26.93亿元、24.21亿元。 每经AI快讯，按申万一级行业来看，本周有色金属、建筑材料、煤炭三大行业获得主力资金青睐，其 中，有色金属行业获主力净流入5.94亿元；在净流出方面，电子设备、计算机、电子行业均遭抛售超百 亿元。 ...

按申万一级行业来看，本周有色金属、建筑材料、煤炭三大行业获得主力资金青睐，其中，有色金属行 业获主力净流入5.94亿元；在净流出方面，电子设备、计算机、电子行业均遭抛售超百亿元。个股方 面，本周C中国铀、天孚通信、京东方A获主力净流入居前，分别为36.54亿元、26.74亿元、18.05亿 元；净流出方面，香农芯创、蓝色光标、中兴通讯遭主力净流出居前，分别为32.11亿元、26.93亿元、 24.21亿元。 ...

Core Insights - ZTE Corporation's Chief Development Officer, Cui Li, presented the company's strategic vision for AI agents at the AI Innovation Asia 2025 event, emphasizing their transformative impact on customer experience and operational models [2][15] - The integration of AI agents is part of ZTE's "AI for All" strategy, focusing on four key areas: networks, computing, households, and personal devices [3][4] Group 1: Impact of AI Agents - AI agents are redefining user experience not only in UI design but also in responsiveness and co-creation [3] - ZTE and China Mobile have developed multi-agent systems that can autonomously detect network issues and enable self-healing, reducing troubleshooting time by 47% [4] Group 2: Strategic Transformation - The current era of uncertainty necessitates a focus on stability and agility, transitioning from machine-like organizations to adaptable ones [5] - AI models are reaching advanced levels, integrating memory and tools to automate complex tasks, although both agents and agent AI are still in early stages with technical challenges [6] Group 3: Monitoring and Accountability - Human involvement remains crucial in design, review, decision-making, and oversight to maintain accountability in AI systems [9][10] - The introduction of AI requires comprehensive integration with expertise, considering factors like accuracy, security, and compliance [11] Group 4: Future of Agent AI - Agent AI is expected to evolve from task-based automation to integrated business partners, focusing initially on vertical industries before tackling more complex tasks [13][14] - Companies must adapt their processes and structures to fully leverage AI, emphasizing the need for a symbiotic relationship between humans and AI [14] Group 5: ZTE's Digital Journey - ZTE's digital transformation began in 2016, with intelligent transformation starting in 2022, highlighting the importance of infrastructure and systematic planning [8] - Continuous investment and starting with high-quality, concrete scenarios are essential for navigating uncertainties during the transformation process [8]

一款被生产厂商亲自提醒"谨慎选择"的手机，开售一天即告售罄。资本市场的反应更为剧烈：12月2日，中兴通讯（SZ000063，股价41.95元，总市值2007 亿元）股价涨停，当天成交额超137亿元。 每经记者｜李宇彤 每经编辑｜陈旭 此前一天（12月1日），字节跳动旗下豆包团队发布"豆包手机助手"技术预览版。中兴与字节跳动合作的nubia M153工程样机同步面向开发者发售。 一台手机，将微信、淘宝等构筑了10年"流量围墙"的超级App（应用程序）悄然拉入牌桌，赌注是移动互联网最核心的资产——流量与入口的"系统级控 制权"。 但摩擦比预期来得更快——2日当晚，部分用户发现微信账号因"登录环境异常"被封；3日，豆包团队下线操作微信的能力并协助解封账号；紧接着，有用 户在通过豆包助手进行淘宝比价时，触发了平台风控验证。在农业银行、建设银行等App端，也先后出现了针对AI 、手机屏幕共享监测及风控措施。 由此进入刀光剑影般的72小时。12月5日，豆包手机助手官方账号发文，表示将部分调整AI 操作能力，同时明确表态将与厂商共同制定清晰准则，喊话避 免用"一刀切"的方式否定用户合理使用 AI的权利。 一台功能尚不完善、 ...

Core Insights - The Doubao mobile assistant team announced adjustments to AI capabilities in response to public concerns and operational challenges following the launch of their new features [1][2][3] - The Doubao mobile assistant, developed in collaboration with ZTE, allows users to automate tasks across multiple applications, but has faced restrictions from various financial and gaming apps due to security and privacy concerns [1][2] Group 1: AI Capabilities and Adjustments - Doubao plans to implement regulatory adjustments to AI operations on mobile devices to ensure technology development aligns with industry acceptance and user experience [3] - The AI assistant's ability to perform tasks such as price comparison and order placement across platforms has garnered significant market attention, but has also raised issues regarding data privacy and security [2][3] Group 2: Restrictions Imposed by Other Apps - Major apps, including WeChat, Taobao, Alipay, and several banking applications, have begun to restrict or disable access to Doubao due to concerns over security and operational integrity [2] - The Doubao team acknowledges the need to limit AI capabilities in specific scenarios, particularly in financial applications, to safeguard user funds and comply with industry standards [4] Group 3: Specific Limitations on AI Usage - The company will restrict the use of AI in scenarios involving score manipulation and incentivized interactions to maintain the integrity of user engagement [4] - Financial applications will see a temporary suspension of AI operations to prioritize user security, despite the assistant requiring user authorization for sensitive actions [4] - Certain gaming scenarios will also have AI capabilities limited to ensure fairness in competitive rankings [4]

转自：开源中国社区（oschina2013） 豆包和中兴通讯近日宣布，搭载"豆包手机助手"技术预览版的工程样机努比亚 M153 已少量发售。 | 84 | | | 94 | | | 97 | | | 100 | | | 103 | | | 111 | | | 114 | | | 115 | | | 116 | | | 117 | ● 公众号·程序员的那些事 | | 118 | | 开发者 @wuxianlin 对这款"豆包手机"的工程样机进行系统拆包后发现了 Smartisan、SmartisanOS 相关的代 码。 - EOF - 根据公开信息， 字节跳动于 2018 年底收购锤子科技坚果手机团队及部分专利 。 "豆包手机助手"的主力研发团队是字节负责 AI 硬件的 Ocean，它隶属于字节 AI 产品大部门 Flow， 长期探 索"大模型+超级 App+硬件终端"的三位一体布局。此次与中兴的合作正是该战略在手机领域的重要落子。 该团队 主要成员来自字节多年来先后收购的一些硬件产品团队，如锤子手机、VR 头显 PICO、智能耳机 Ola Dance 等。 因此 锤子科技手机系统团队的" ...