盘前要闻 1、AI之后英伟达最大机遇！黄仁勋力捧机器人技术，英伟达股价历史新高 类型：公司 情绪影响：正面 在英伟达年度股东大会上，黄仁勋表示，继人工智能之后，机器人技术是英伟达另一大具有增长潜力的 市场，他重申计算机行业大规模的AI基础设施升级才刚刚开始；隔夜英伟达股价高开高走，最终收涨 4.33%，创下历史新高。 2、何立峰：加快构建全国统一大市场，积极扩大内需提振消费 类型：宏观 情绪影响：正面 国务院副总理何立峰23日至24日在河北调研时指出，要加快构建全国统一大市场，积极扩大内需提振消 费，加快构建房地产发展新模式，因地制宜发展新质生产力，更好推动经济高质量发展。 3、深圳：稳步放宽或取消跨境交付、境外消费等模式下服务贸易限制措施 类型：宏观 情绪影响：正面 美联储主席鲍威尔重申不急于降息，强调高关税带来很大的不确定性，指出美国经济很强劲，在不确定 形势下有理由缓慢行动；不过鲍威尔告诉议员，未来的贸易协议可能会允许美联储考虑降息。 投资日历 国家发改委6月份新闻发布会 投资锦囊 投资锦囊：价值投资策略应该只应用于长期心态，你当前的生活方式不应过分依赖于股市的表现。 深圳印发促进服务消费高质量发展的若 ...

Group 1 - The National Development and Reform Commission (NDRC) will hold a press conference on June 26 to discuss key work in the business sector [4] - The Shanghai Marine Industry Development Plan (2025-2035) draft aims to build a world-class shipbuilding and marine engineering equipment industry cluster, targeting an industry added value exceeding 45 billion by 2030 [4] - Shenzhen's Commerce Bureau has issued measures to promote high-quality service consumption, including expanding foreign investment in biotechnology and healthcare sectors [4] Group 2 - President Trump expressed hope that China would purchase a significant amount of U.S. crude oil, while the White House clarified that sanctions on Iran remain unchanged [5] - Nvidia's stock rose over 4%, reaching a market capitalization of $3.77 trillion, making it the highest-valued company globally [6] - Xiaomi announced the launch of its next-generation personal smart device, the Xiaomi AI glasses, along with the pricing of the Xiaomi YU7 on June 26 [8] Group 3 - Guotai Junan International's wholly-owned subsidiary has been approved to provide virtual asset trading services [9] - Nord shares have seen a seven-day consecutive rise, with revenue from copper foil business in solid-state batteries accounting for less than 1% of total revenue [10] - Jida Zhengyuan reported normal operating conditions with no significant changes in the internal and external business environment [11] Group 4 - Tianji Technology's subsidiary has obtained patents related to lithium sulfide, and the company is advancing its industrialization [12] - Tianli Technology reported no significant changes in its operating conditions or business environment [13] - Xiangtan Electric's subsidiary is collaborating with solid-state battery companies on research and development, but has not yet generated revenue [14] Group 5 - Hailian Jinhui reported normal operating conditions with no undisclosed significant matters [15] - Funi Co., Ltd. plans to increase its shareholding in the company by 100 million to 200 million [16] - Jianghe Group's subsidiary signed a subcontract for a project in Saudi Arabia worth approximately 2.012 billion [16] Group 6 - The brain-computer interface industry is accelerating, with multiple technological breakthroughs and strong policy and capital support [18] - The global weight loss sector is rapidly developing, with several important directions emerging, such as long-acting formulations and multi-target molecules [19]

英伟达股价创历史新高，重夺全球市值第一宝座。 周三，英伟达股价大涨4.3%至154.31美元，再创历史新高，市值达到3.77万亿美元，超越微软成为全球市值最大的公司。这标志着这家芯片巨头 从年初的重挫中完全复苏，抹去了此前1.4万亿美元的市值损失。 这一涨势得益于黄仁勋在英伟达年度股东大会上的乐观表态。 会上，黄仁勋强调AI和机器人技术带来"数万亿美元机会"，并指出全球对"主权AI"的需求正在增长，英伟达正处于为期十年的AI基础设施建设浪 潮的起点。 黄仁勋在股东大会上透露，仅微软在近一个季度处理AI模型的请求量就比去年同期增加了五倍以上。此外，英伟达支持的CoreWeave等"neocloud （云端新秀）"AI公司股价自3月纳斯达克上市以来已上涨超300%，显示出AI长期增长前景的吸引力。 与此同时，作为英伟达的关键存储供应商，美光科技周三公布的季度收入达到创纪录的93亿美元，超出华尔街预期的89亿美元，并对AI需求增长 给出积极预测——这进一步佐证了AI硬件市场的强劲势头。 从低谷到巅峰，市值恢复1.42万亿美元 英伟达今年经历了戏剧性的股价波动。 今年年初，由于"DeepSeek冲击"引发市场对英伟达 ...

美国总统特朗普7日表示， 当地时间6月25日，美国总统特朗普表示，下周美方将与伊朗会谈。自己"非常确信"以色列与伊朗之间的军事冲突已经结束。不过他还表示， 以色列和伊朗之间的冲突可能再次爆发。他表示，不会放弃对伊朗施压，也不会接管石油。若伊核计划重启，将再度打击。 关于俄乌，特朗普称将与俄罗斯总统普京会谈，讨论结束乌克兰战争事宜。在北约峰会期间，特朗普还会见了泽连斯基，这是4月以来两人首 次面对面会谈，不过他否认与泽连斯基讨论俄乌停火问题。 鲍威尔再赴国会山。美联储主席鲍威尔国会山听证会次日，再重申不急于降息。他强调高关税带来不确定性，美国经济强劲，有理由缓慢行 动，但大多数官员支持今年降息。他还表示，关税可能不会大幅推升通胀，美元仍是全球储备货币。特朗普则再度炮轰鲍威尔"糟糕透顶"，并 表示他已经有三到四位候选人可能接替鲍威尔担任美联储下一任主席。 美股方面，纳指涨0.31%，标普500指数平收，道指跌0.25%。大型科技股涨跌不一，英伟达涨超4%，总市值3.77万亿美元，再度成为全球市值 最高的公司。特斯拉因欧洲销量连续五个月下滑跌超3%。固态电池公司QuantumScape股价大涨31%。热门中概股跌多 ...

底层基础设施的通用性就是为了前瞻性地应对未来的模型发展。当前AI产业发展迅速，Scaling law在后 训练、在线推理等阶段快速发展。训练端，模型架构持续创新迭代，有望进一步强化训练侧scaling law 的延续，如阿里巴巴Qwen团队与浙江大学团队提出的Parallel Scaling、腾讯混元团队采用Transformer、 Mamba混合架构训练的TurboS都取得了优秀的性能表现。推理端，在MoE专家网络架构成为主流后， 如何通过硬件部署实现更高的吞吐量和更低的延时成为焦点。采用类似推理集群的形式未来有望成为主 流，计算节点有望通过提升计算密度满足推理需求。系统级算力料将成为下一代AI算力基础设施。 系统级算力需要系统级能力。 芯片层面，算力集群中涉及AI加速芯片、CPU芯片、Switch互连芯片、DPU数据处理芯片等，受限制于 制程，国产AI加速芯片在峰值算力能力领域上相较于海外旗舰产品仍有差距，软件生态上亦因产业发 展时长而相对落后，单芯片能力的竞争并无直接优势。互连层面，传统PCIe与英伟达NVLink等差距较 大，NVLink5.0提供1.8TB/s双向带宽，超传统PCIe方案的十倍，国产 ...

Group 1 - Nvidia has regained its position as the world's most valuable company, with a market capitalization exceeding $3.76 trillion after a 4.33% increase in stock price [5][7]. - The stock price surge is attributed to ongoing trends in artificial intelligence, with predictions from Loop Capital suggesting Nvidia's market value could reach $6 trillion [7]. - Major technology stocks generally saw gains, with Nvidia leading the way, while other sectors like energy and real estate experienced declines [6][8]. Group 2 - The S&P 500 index is nearing historical highs, with a recent peak of 6108.51 points, just under 1% from its all-time intraday record [4]. - The index has risen over 2% this week, driven by easing geopolitical tensions and a ceasefire agreement between Iran and Israel [4]. - The performance of the S&P 500 is mixed, with eight sectors declining and three gaining, indicating a varied market response [6].

Group 1: Humanoid Robots and AI Solutions - UBTECH announced the launch of a commercial humanoid robot solution centered around the Walker C robot, integrating advanced AI models and navigation algorithms for applications in exhibitions, supermarkets, and transportation hubs [2] - The emergence of AI companies like DeepSeek is driving the development of general-purpose humanoid robot models, indicating a strong trend towards industrial applications of humanoid robots [2] - The humanoid robot industry is entering a phase of rapid development, with commercial applications becoming increasingly viable, suggesting potential investment opportunities in domestic component manufacturers [2] Group 2: AI Infrastructure Investments - Major tech companies such as Amazon, Microsoft, Oracle, and Meta are making significant investments in AI infrastructure, with total investments reaching up to tens of billions of dollars [3] - The demand for digital infrastructure driven by AI is leading to a sustained increase in global data center capacity, with the domestic computing power sector expected to recover due to policy support and technological upgrades [3] - The long-term growth of AI-driven infrastructure is anticipated, with opportunities arising from technological upgrades and domestic replacements in sectors like optical modules, switches, and cooling systems [3] Group 3: Robotics and AI Market Potential - Google DeepMind introduced the Gemini Robotics On-Device model, which can run locally on robotic devices, enhancing their adaptability to new tasks without needing constant internet connectivity [4] - The competition among major tech firms in the field of embodied intelligence is expected to unlock a trillion-dollar market, as robots transition into the embodied intelligence era [5] - The intersection of humanoid robots and AI represents a critical point in technological advancement, with significant breakthroughs anticipated in application, cost, and software development [5] Group 4: Tungsten Market Dynamics - The strategic value of tungsten is increasing, with supply-demand tightness expected to persist, leading to a bullish market trend and potential price increases [6] - Tungsten is essential in high-end manufacturing and is considered a strategic resource in China, with strict controls on its mining [6] - The global tungsten supply is projected to grow at a CAGR of 2.57% from 2023 to 2028, while demand is expected to rise due to emerging industries like photovoltaics and robotics [6]

【导读】英伟达突然大涨，黄仁勋、鲍威尔重磅发声！ 中国基金报记者 郭玟君 大家早上好！昨夜今晨，又有很多大事发生。 美国三大股指涨跌不一。英伟达市值再度称冠全球！黄仁勋预测机器人及物理 AI 相关基础设 施是下一个千亿美元级产业机会。美联储主席鲍威尔表示，将来若达成贸易协议，美联储可 能考虑降息。美债收益率全线走低。 美国三大股指涨跌不一 美东时间 6 月 25 日，美国三大股指收盘涨跌不一，道指跌 0.25% ，报 42982.43 点；标 普 500 指数持平报 6092.16 点；纳指涨 0.31% ，报 19973.55 点，录得三连涨。 道琼斯工业指数(DJI) 06-25 16:20:01 | 42982.43 | | | | --- | --- | --- | | -106.59 - -0.25% - 今开 - 43130.33 - 成交量 0 | | | | 上涨 = = = = | 11 平盘 | 0 下跌 下跌 1 1 19 | | 最高价 43130.33 市盈率 29.8 | | | | 最低价 42871.50 市净率 | | | સ્ત્ર-B4 日K 五日 [0] 叠加 4330 ...

英伟达重回第一。 当地时间6月25日，美股三大指数收盘涨跌不一，标普500指数接近历史高点。英伟达涨超4%，股价再创新高，再度成为全球市值最高的公司。热门中概股 跌多涨少，纳斯达克中国金龙指数跌0.6%。 标普500指数接近历史高位 当地时间6月25日，美股三大指数收盘涨跌不一。截至收盘，道指跌106.59点，跌幅为0.25%，报42982.43点；纳指涨61.02点，涨幅为0.31%，报 19973.55点；标普500指数跌0.02点，报6092.16点。 | 道琼斯 | 纳斯达克 | 标普500 | | --- | --- | --- | | 42982.43 | 19973.55 | 6092.16 | | -106.59 -0.25% | 61.02 0.31% | -0.02 0.00% | 标普500指数盘中最高触及6108.51点，较2月19日创下的历史盘中纪录6147.43点仅差不到1%，也十分接近6144.15点的历史最高收盘价。此外，纳斯达 克指数当前点位距去年12月创下的历史高点仅相差1.3%。 本周迄今，标普500指数已上涨逾2%，主要因伊朗对周末美军袭击的回应比预期温和。随后美国总统 ...

智通财经APP获悉，时隔近半年之久，有着"AI芯片霸主"称号的英伟达(NVDA.US)股价再创历史新高点位，这家人工智能芯片领军者自4月低 谷价位以来的无比强劲涨势，全面巩固了其作为全球最有价值上市公司之一的地位。对于长期钟情于英伟达以及AI算力产业链的投资者们来 说，席卷全球的"AI信仰"对于算力领军者们的股价催化远未完结，"AI总龙头"英伟达的市值冲5万亿美元市值之路再一次扬帆启航，在一家华 尔街投资机构看来甚至有望冲击6万亿美元。 英伟达股票价格在周三强势上涨4.3%，至154.31美元，突破了该股此前在1月初期创下的历史纪录。自4月的阶段性股价低点以来，英伟达已 累计跃升63%，市值足足增加近1.5万亿美元。按当日收盘价位计算，该公司总市值约 3.77 万亿美元，超越AI应用软件领域领头羊微软 (MSFT.US)的3.66万亿美元市值，重夺"全球股王"这一超级宝座，再度荣膺全球最高市值公司。 台积电、英伟达以及博通等AI基础设施领导者们近期无比强劲的财报数据，以及Facebook母公司Meta、甲骨文、OpenAI、微软以及亚马逊等 科技巨头们持续井喷式扩张的AI算力需求，乃最为重要的股价看涨催化剂。 ...