2025 年 12 月 31 日 MiniMax 发布 MiniMax M2.1 大模型，清华大 学发布 TurboDiffusion 推荐(维持) 投资要点 相关研究 1、《Monday.com(MNDY.O)：AI 多产 品矩阵超预期贡献，获客渠道转型 筑基长期增长》2025-12-31 2、《ServiceNow(NOW.N)：智能体 AI 驱动平台价值重塑，业绩指引上 修》2025-12-31 3、《HubSpot(HUBS.N)：智能代理 平台驱动产品化转型，多产品协同 带动大客户渗透》2025-12-31 ▌算力：算力租赁价格平稳，MiniMax 发布 MiniMax M2.1 大模型 12.23 日，MiniMax 发布 MiniMax M2.1 大模型。模型实现多项 关键技术突破，在 SWE-bench Multilingual 多语言评测中斩 获 72.5%的 SOTA 成绩，性能超越多款主流竞品。为支撑其全 栈开发能力，MiniMax 同步开源 VIBE 基准测试体系，模型在 该测试中以 88.6 分展现卓越性能。作为率先引入 Interleaved Thinking 的开源模型系列，M2 ...

Core Insights - The year 2025 marks a significant turning point for AI, transitioning from curiosity in 2024 to profound societal impact [1] - Predictions from industry leaders suggest that advancements in AI will continue to accelerate, with Sam Altman forecasting the emergence of systems capable of original insights by 2026 [1][3] - The debate around the Scaling Law continues, with some experts asserting its ongoing relevance and potential for further evolution [12][13] Group 1: Scaling Law and Computational Power - The Scaling Law has shown resilience, with computational power for training AI models growing at an exponential rate of four to five times annually over the past fifteen years [12][13] - Research indicates a clear power-law relationship between performance and computational power, suggesting that a tenfold increase in computational resources can yield approximately three times the performance gain [13][15] - The concept of "AI factories" is emerging, emphasizing the need for substantial computational resources and infrastructure to support AI advancements [27][31] Group 2: Breakthroughs in AI Capabilities - The SIMA 2 project at DeepMind demonstrates a leap from understanding to action, showcasing a general embodied intelligence capable of operating in complex 3D environments [35][39] - The ability of AI models to exhibit emergent capabilities, such as logical reasoning and complex instruction following, is linked to increased computational power [16][24] - By the end of 2025, AI's ability to complete tasks has significantly improved, with projections indicating that by 2028, AI may independently handle tasks that currently require weeks of human expertise [41] Group 3: Future Challenges and Considerations - The establishment of the Post-AGI team at DeepMind reflects the anticipation of challenges that will arise once AGI is achieved, particularly regarding the management of autonomous, self-evolving intelligent agents [43][46] - The ongoing discussion about the implications of AI's rapid advancement highlights the need for society to rethink human value in a world where intelligent systems may operate at near-zero costs [43][46] - The physical limitations of power consumption and cooling solutions are becoming critical considerations for the future of AI infrastructure [31][32]

每经编辑｜何小桃 ⑨ 北京时间12月31日21:30，12月27日当周首次申请失业救济人数。 （免责声明：文章内容和数据仅供参考，不构成投资建议。投资者据此操作，风险自担。） ② 【大型科技股齐跌】大型科技股盘前齐跌。截至发稿，亚马逊下跌0.27%，苹果下跌0.34%，谷歌下跌0.45%，Meta下跌0.44%，微软下跌0.15%。 ③【特斯拉在韩国大幅下调电动车售价，最高降幅达6490美元】12月31日，据媒体报道，特斯拉在韩国下调了Model 3轿车和Model Y运动型多用途车的价 格，最高降幅达940万韩元（约合6490美元）。其中，Model 3高性能全轮驱动版现售价为5999万韩元，较此前6939万韩元的定价有所下降。两款Model Y 车型价格也下调约300万韩元。截至发稿，特斯拉下跌0.25%。 ④ 【英伟达正与台积电洽谈新H200芯片订单】12月31日，据媒体援引知情人士透露，英伟达正努力满足客户对其H200 AI芯片的强劲需求，并已与代工制 造商台积电接洽，以提高产量。消息人士称，英伟达已要求台积电开始生产这些额外的芯片，预计将于2026年第二季度开始生产。截至发稿，英伟达下跌 0.37% ...

Core Insights - Nvidia Corp. has experienced a slight decline in its share price over the past week following the announcement of a significant $14 billion order for chips from ByteDance and the completion of a $5 billion investment in Intel [1] Company Developments - Nvidia announced a $14 billion order for chips from ByteDance, indicating strong demand for its products [1] - The company finalized a $5 billion investment in Intel, which may enhance its strategic positioning in the semiconductor industry [1]

杰德・埃勒布鲁克几乎彻夜未眠。 那是 4 月 2 日周三晚间，特朗普总统刚刚现身白宫玫瑰园，手持一块大幅公告牌，上面赫然写着他将对 全球多国征收的惩罚性关祱税率。华尔街迅速意识到，特朗普此次是动真格的 —— 他要打破这个他口 中对美国不公的全球贸易体系。 来源：环球市场播报 当晚与家人用餐时，乃至整夜，埃勒布鲁克都在琢磨后续走势。当时亚洲市场暴跌，一场全球范围的股 市崩盘就此拉开序幕。作为银资本管理公司的投资组合经理，埃勒布鲁克与团队次日一早便在圣路易斯 的办公室紧急集结，着手分析关祱政策对持仓股票的影响。当天股市抛售潮愈演愈烈，其持仓占比最大 的亚马逊股价暴跌近 10%。 和从东京到纽约的全球投资者一样，埃勒布鲁克在这场罕见的市场波动中，仓促地完成了一场 "动荡应 对速成课"。标普 500 指数一度逼近熊市边缘，随后市场情绪却迅速反转，触发了数十年来最快的股市 反弹之一，最终推动这一基准指数创下历史新高。市场给出的核心启示是：保持冷静、敢于逢低买入， 终有回报。 美国经济的起伏与人工智能热潮固然对市场影响深远，但 2025 年的诸多市场波动，根源大多指向白 宫。 加拿大银行信贷分析公司首席美国股票策略师艾琳 ...

The Dow Jones Industrial Average (^DJI) was down 94.87 points (-0.1958%) on Wednesday, December 31, 2025, as U.S. markets concluded the final trading day of the year. This modest decline reflected a broader trend of lower stock futures and continued pressure on technology and artificial intelligence (AI) stocks, marking a slight pullback at year-end despite overall strong annual gains for the major indexes. Bond markets saw an early close, while equity markets maintained regular hours before the New Year's ...

On Dec. 8, Federal prosecutors in Texas unsealed documents that revealed an investigation into a massive smuggling network that stretched across the U.S. and the world. Dubbed "Operation Gatekeeper" by the feds, the investigation wasn't focused on drug smuggling or stolen goods but rather an alleged secret, underground network of suppliers for Nvidia's graphic processing units, or GPUs. Such chips are the backbone of the AI race, and can be used for military or civilian purposes. The government said a hidde ...

AI淘金热进入深水区，卖铲子的人，开始下场挖矿了。 当英伟达被曝出以20亿-30亿美元洽谈收购AI21 Labs，这是提前锁定「下一代AI主导权」，而不是一笔普通的技术并购。 这笔交易尚未官宣，但行业认为「大概率会发生」。 如果最终成交价落在30亿美元，这将成为英伟达历史上金额最高的一笔AI并购。 这也解释了为什么很多业内人第一反应不是「AI21要起飞了」，而是：这是一场典型的高价「人才收割」。 在算力称王的时代，这家全球最强芯片公司，第一次把巨额支票直接投向模型与人才本身，信号异常明确：AI战争，已经从训练阶段，转向推理与系统 整合的终局之战。 AI21 Labs 在2022年生成式AI爆发前，AI21就是以色列AI赛道的「门面担当」，技术路线颇具学术气质： 强调可控文本生成 更让人吃惊的是，AI21 Labs全职员工规模约200人，折算下来，人均「身价」高达1000万至1500万美元，远高于大多数独角兽并购案例。 曾与OpenAI唱对台戏的独角兽 2021年，AI21 Labs的位置并不尴尬。 AI21由Amnon Shashua教授、Yoav Shoham教授与Ori Goshen于2017年联合创立， ...

整理 | 美股研究社 在这个快速 变 化的 时代， 人工 智能技术正以前所未有的速度发展，带来了广泛的机会 。 《AI日 报 》致力于挖掘和分析最新的AI概念股公司和市场趋势，为您提供深度的行 业 洞察和 价 值 分析。 A I 快 报 【AI耳机销量涨超600%，智能穿戴设备功能持续提升】 实时翻译的AI耳机、一键拍摄的AI眼镜、实时监测身体数据的智能手表……从体验尝鲜到健康 生活的"数字伙伴"，AI可穿戴设备功能持续提升。 一家AI耳机相关负责人表示，伴随着大语言模型推出，推理成本下降，AI耳机的人机交互能力 大幅提升。 2025年上半年，AI耳机市场线上销量增长636%。机构数据预测，2025年，中国智能穿戴设 备市场规模有望突破3000亿元，出货量预计突破7100万台，其中智能手表、手环贡献超80% 份额。 【亚马逊：将为美国政府机构AI系统投资高达500亿美元】 日前，亚马逊网络服务（AWS）宣布了一项计划，即首次为美国政府构建并部署专门用于人工 智能和高性能计算的系统，该计划承诺将投入高达500亿美元，以增强该公司为美国联邦政府 客户提供的人工智能和超级计算能力。 【AI公司MiniMax寻求通过 ...

Core Viewpoint - Nvidia is in advanced discussions to acquire Israeli AI start-up AI21 Labs for up to $3 billion, focusing on expanding its AI workforce rather than technology acquisition [1][2]. Group 1: Acquisition Details - The acquisition could be structured as an acquihire, with an implied cost of $10 million to $15 million per employee, as AI21 employs around 200 people with advanced qualifications in AI [2]. - If completed, this would be Nvidia's fourth major deal in Israel and its second largest after the acquisition of Mellanox [3]. Group 2: Company Background - AI21 Labs was founded in 2017 by Amnon Shashua, Yoav Shoham, and Uri Goshen, with Shoham and Goshen serving as co-CEOs [3]. - A funding round in 2023 valued AI21 at $1.4 billion, with participation from Nvidia and Google [3]. Group 3: Business Challenges and Focus - AI21 has struggled to keep pace with leading AI firms and ceased development of its Wordtune product line in April last year, shifting focus to specialized language models for corporate clients [4]. - The company aims to improve the accuracy of language models by 50% with its enterprise product, Maestro, and has introduced a new reasoning model that is faster and more efficient [5]. Group 4: Financial Performance - AI21's estimated revenue is around $50 million, significantly lower than competitors generating billions [6].