Core Insights - DeepSeek, a Chinese AI startup, launched two new models, DeepSeek-V3.2 and DeepSeek-V3.2-Speciale, achieving performance levels comparable to leading models from OpenAI and Google DeepMind [1][4][7] - The release coincides with the NeurIPS conference, generating significant interest in the AI research community [2][7] - The V3.2 model is designed for practical use, while the V3.2-Speciale focuses on enhanced reasoning capabilities, achieving gold medal-level performance in prestigious competitions [5][6][7] Model Performance - DeepSeek-V3.2 matches OpenAI's GPT-5 in mainstream reasoning benchmarks and is slightly below Google’s Gemini-3.0 Pro [4][6] - The V3.2-Speciale version excels in reasoning tests, achieving scores that rival Gemini-3.0 Pro [4][5] - Both models have shown significant improvements in efficiency, reducing computational costs and user wait times [4][6] Competitive Landscape - The success of DeepSeek's models indicates that Chinese open-source AI systems are becoming competitive with top proprietary models from Silicon Valley [7][8] - The trend towards open-source AI in China contrasts with the closed strategies of major US tech companies, which prefer to maintain control over their advanced technologies [9][10] - Recent data shows that the download share of open-source AI models from Chinese teams has surpassed that of US teams for the first time [8][9] Industry Implications - The advancements from DeepSeek suggest a shift in the AI model release paradigm, with Chinese companies frequently launching new models and versions [9][10] - The focus on open-source models in China may lead to broader applications of AI technology, potentially challenging the dominance of US AI labs [10]

每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 今日早盘，A股主要指数集体低开，人工智能产业链方向震荡，截至10:50，上证科创板人工智能指 数下跌1.1%，中证人工智能主题指数上涨0.1%，资金借道相关ETF逢低加仓，人工智能ETF（159819） 盘中净申购达2200万份。 昨日，DeepSeek新发布了两个正式版模型——DeepSeek-V3.2和DeepSeek-V3.2-Speciale。其中 DeepSeek-V3.2的目标是平衡推理能力与输出长度，适合日常使用，例如问答场景和通用Agent任务场 景，而DeepSeek-V3.2-Speciale的目标是将开源模型的推理能力推向极致，探索模型能力的边界。 有分析指出，DeepSeek推动中国算力生态协同创新与演进，进一步将模型、算法层面的创新，与 中间层的编译语言、更底层的计算芯片协同起来，推动中国算力生 ...

3. DeepSeek发布两个新模型DeepSeek发布了两个新版本，虽然不是我们一直期待的R2，但这些新动作 已经引发了市场的关注。昨天A股尾盘时，相关标的出现了走强的现象。这就是所谓的"确定性"。什么 是确定性？就是板块有利好，对应板块能够上涨，这就是确定性。如果板块有利好但高开回落或者不认 可，那就是不确定性。我们炒股的两大要素是确定性和风险。在确定性的前提下，我们再去寻找空间。 我依然坚持我的观点，不建议大家盲目追高。当你发现一个方向有暴利机会时，这就是确定性。在这些 上涨的标的中，找到资金最认可的标的，这就是确定性中的确定性。如果想关注这个方向，可以等回调 打开空间后再择时介入。市场操作建议我一直强调，A股在这个位置最好先休息一下。如果继续上涨， 就会面临压力位，涨完之后大概率还是冲高回落。如果在这个位置来一个ABC回调，反而可以再次打 开空间，让散户更好地把握买卖节奏。 所以，市场我们左右不了，但我们可以判断什么情况下出手更有利，什么情况下出手不利。这已经足够 了。在容易出手的时候出手，在不容易出手的时候管住手。90%以上的股民都知道主线在哪里，资金扎 堆的地方就是主线，但90%以上的股民也不愿意 ...

【环球网财经综合报道】12月1日晚间，国产大模型领域迎来重磅更新，人工智能公司DeepSeek正式发布了DeepSeek-V3.2和 DeepSeek-V3.2-Speciale两个版本，标志着国产开源模型在推理能力和智能体应用上迈出了里程碑式的一步。此次发布不仅迅速点 燃了资本市场的热情，更让市场目光聚焦于那些在AI领域持续高研发投入的上市公司。 受此利好消息提振，A股市场DeepSeek概念板块表现抢眼。东方财富概念板块数据显示，目前A股市场共有242只相关个股，合计 总市值约4.21万亿元。超八成概念股年内股价上涨，平均涨幅达30.67%。其中，开普云以288.38%的涨幅领涨，品高股份涨超2 倍，和而泰、路桥信息等13股年内涨幅均在100%至200%之间，共计9只概念股年内股价实现翻倍。 股价向好的背后，是坚实的业绩支撑。数据显示，共有126只DeepSeek概念股今年前三季度净利润实现正增长（含扭亏为盈）， 占比约52%。其中，盛通股份、盛天网络净利润增幅均在10倍以上，容知日新、拓维信息净利同比均增逾8倍。从单季度看，更 有102家公司在第三季度实现了业绩的同比增长，显示出板块整体强劲的复苏势头。 ...

截至2025年12月2日 09点48分，上证科创板半导体材料设备主题指数下跌0.44%。成分股方面涨跌 互现，拓荆科技领涨1.19%，中微公司上涨0.98%，华海清科上涨0.09%；华海诚科领跌3.88%，艾森股 份下跌3.03%，神工股份下跌2.36%。科创半导体ETF（588170）下跌0.58%，最新报价1.38元。 流动性方面，科创半导体ETF（588170）盘中换手1.76%，成交5858.59万元。拉长时间看，截至12 月1日，科创半导体ETF（588170）近1月日均成交4.19亿元，领先同类。规模方面，科创半导体ETF （588170）近1周规模增长6932.05万元，实现显著增长。 消息面上，12月1日晚间，DeepSeek发布两个正式版模型：DeepSeek-V3.2 和 DeepSeek-V3.2- Speciale。据悉，目前DeepSeek官方网页端、App 和 API 均已更新为正式版 DeepSeek-V3.2。Speciale 版 本目前仅以临时 API 服务形式开放，以供社区评测与研究。 首创证券认为，在国产替代政策支持、技术持续迭代及下游多元化需求背景下，AI产业蓬勃发 展 ...

Core Insights - DeepSeek has launched two new models: DeepSeek-V3.2 and DeepSeek-V3.2-Speciale, aiming to enhance reasoning capabilities and output efficiency for various applications [1][2]. Model Features - DeepSeek-V3.2 is designed to balance reasoning ability and output length, making it suitable for everyday tasks such as Q&A and general agent tasks. It has achieved performance levels comparable to GPT-5 in benchmark tests, slightly below Gemini-3.0-Pro [2][3]. - DeepSeek-V3.2-Speciale enhances long reasoning capabilities and incorporates theorem proving abilities from DeepSeek-Math-V2. It has excelled in mainstream reasoning benchmarks, winning gold medals in several prestigious competitions [3][4]. Technological Advancements - DeepSeek-V3.2 is the first model to integrate reasoning with tool usage, supporting both reasoning and non-reasoning modes for tool invocation. The model has been trained on over 1,800 environments and 85,000 complex instructions, significantly improving its generalization capabilities [4][5]. - The Speciale version, while superior in handling complex tasks, requires more tokens and incurs higher costs. It is currently available only for research purposes and is not optimized for daily conversation or writing tasks [3][4]. Industry Outlook - The AI industry is experiencing a period of resonance, with rapid expansion in AI infrastructure and commercialization of downstream applications. This trend is expected to continue, with a focus on AI infrastructure and applications as key investment themes through 2026 [5][7]. - Investment opportunities are suggested in areas such as domestic AI chains, AI hardware in overseas markets, and innovations in domestic edge AI industries, particularly in automotive electronics [7].

乌克兰总统泽连斯基当地时间12月1日表示，乌美谈判代表团日前举行了多轮会议，他说，"当前方案看 起来更具前景"。此外，他透露双方就领土问题进行了长达6.5小时的讨论。 美股方面，道指跌0.9%，纳指跌0.38%，标普500指数跌0.53%， 大型科技股多数下跌，博通跌超4%，谷歌、Meta、微软跌超1%，英伟达、苹果涨超1%。加密货币、 太阳能板块跌幅居前，白银股、货运、鞋服、油气涨幅居前。芯片设计软件公司新思科技涨超4%，英 伟达投资20亿美元购入该公司股票。 热门中概股涨跌不一，网易涨5%，阿里巴巴涨超4%，百度涨超2%，拼多多涨近2%；小鹏汽车、理想 汽车跌超2%，蔚来跌超5%。 白银价格创历史新高。今年以来，国际银价已上涨超90%，大幅跑赢黄金。分析指出，近期市场对美联 储降息预期升高，这为白银及整个贵金属市场提供了坚实支撑。中银证券指出，白银补涨弹性或优于黄 金，贵金属长牛逻辑依然坚固，白银的短期确定性更强。瑞银则持续看多白银，预计价格将在2026年达 到60美元/盎司。 全球资产表现上，贵金属价格走高，现货白银收涨2.85%，报57.987美元/盎司，继续刷新历史新高。 COMEX黄金期货涨0.2 ...

Core Insights - DeepSeek has officially released its next-generation open-source large model, DeepSeek-V3.2, along with the enhanced version DeepSeek-V3.2-Speciale [1] - The new model's inference capability is reported to reach GPT-5 levels, closely approaching Gemini-3.0-Pro, while significantly reducing output length compared to Kimi-K2-Thinking to lower computational costs [1] - The V3.2-Speciale version integrates theorem proving capabilities from DeepSeek-Math-V2, achieving gold medal results in several international competitions, with ICPC results reaching the second place level of human competitors [1] - The new version uniquely combines thinking modes with tool invocation, allowing external tools to be called during the reasoning process [1] - The model underwent reinforcement learning training in over 1,800 environments and more than 85,000 complex instructions, enhancing its generalization ability [1] - The official claims that it has reached the highest level among current open-source models in agent evaluation, further narrowing the gap with closed-source models [1] Additional Information - The experimental version DeepSeek-V3.2-Exp was released two months prior, and user feedback indicated that the DSA sparse attention mechanism did not show significant performance decline across various scenarios [2] - The Speciale version is currently available in a temporary API format for community research and evaluation [2]

Core Insights - DeepSeek has officially released the V3.2 version, which significantly outperforms GPT-5 High and is on par with Google's Gemini-3.0 Pro in various reasoning benchmarks [1][4][9] - The new model has achieved four international competition gold medal-level results, showcasing its advanced capabilities [2][5] - DeepSeek V3.2 incorporates a unique DSA (Sparse Attention) architecture, breaking the "impossible triangle" of speed, cost, and intelligence in AI [1][17][22] Model Performance - DeepSeek V3.2 has demonstrated superior performance in multiple benchmarks compared to other models, including GPT-5 and Gemini-3.0 [1][21] - The model's scores in key competitions include: - AIME 2025: 96.0 (DeepSeek-V3.2-Speciale) vs. 95.0 (Gemini-3.0) - HMMT Feb 2025: 99.2 (DeepSeek-V3.2-Speciale) vs. 97.5 (Gemini-3.0) [21] Model Features - DeepSeek V3.2 is the first model to integrate thinking directly into tool usage, allowing it to operate in both thinking and non-thinking modes [6][9] - The V3.2-Speciale version is designed specifically for reasoning tasks and is currently available only via API [2][4] Technological Advancements - The DSA architecture allows for a significant reduction in computational complexity, enabling the model to process large documents efficiently [16][20] - This technology has led to a remarkable increase in processing speed and a reduction in operational costs, making advanced AI capabilities more accessible [17][20] Training and Development - DeepSeek V3.2 underwent extensive training in a virtual environment, utilizing over 1,800 simulated operating systems and generating 85,000 complex instructions to enhance its problem-solving skills [13][14] - The model's evolution from the experimental version (V3.2-Exp) to the official release showcases improvements in agent capabilities and context management [8][11]

Market Overview - On December 1, the A-share market experienced a rebound, with the Shanghai Composite Index returning above 3900 points, and both the Shenzhen Composite Index and the ChiNext Index rising over 1% [2] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Composite Index closed at 13146.72, up 1.25%, and the ChiNext Index closed at 3092.5, up 1.31% [3] - The total trading volume in the Shanghai and Shenzhen markets reached 1.87 trillion yuan, an increase of 288.1 billion yuan compared to the previous trading day [2] Sector Performance - The consumer electronics sector saw a collective surge, while the commercial aerospace concept continued to show strength [2] - The non-ferrous metals sector was active, and the photolithography concept experienced a rapid increase [2] - Conversely, the battery sector faced a pullback after an initial rise [2] International Market Trends - Major U.S. stock indices fell on December 1, with the Dow Jones Industrial Average down 427.09 points (0.90%), the S&P 500 down 36.46 points (0.53%), and the Nasdaq Composite down 89.76 points (0.38%) [4] - European stock indices also declined, with the FTSE 100 down 17.98 points (0.18%), the CAC 40 down 25.71 points (0.32%), and the DAX down 247.35 points (1.04%) [4] - International oil prices rose, with WTI crude oil up $0.77 to $59.32 per barrel (1.32%) and Brent crude oil up $0.79 to $63.17 per barrel (1.27%) [4] Commodity Prices - Spot silver rose 2.85% to $57.987 per ounce, continuing to set historical highs [5] - COMEX gold futures increased by 0.24% to $4265 per ounce, while COMEX silver futures rose 2.25% to $58.45 per ounce [5] Policy and Economic Developments - Jiangsu Changzhou announced a new housing assistance policy to support low-income groups in purchasing new homes, providing up to 20,000 yuan in subsidies for new homes and 18,000 yuan for existing homes [9] - The State Post Bureau reported that China's express delivery volume surpassed 1.8 billion packages as of November 30, marking a historical high [10] - The Ministry of Industry and Information Technology encouraged Chinese companies in solar, wind, lithium batteries, and electric vehicles to expand internationally and invest in green energy projects [11] Institutional Insights - Zhongyuan Securities highlighted the positive outlook for AI and domestic self-controlled sectors, driven by advancements in chip technology and AI applications [13] - Datong Securities noted the favorable conditions in the paper industry, including price increases and cost reductions, enhancing profitability [13] - Aijian Securities suggested that successful launches of reusable rockets could significantly reduce satellite launch costs, benefiting the domestic low-orbit satellite industry [13] Focused Announcements - Tsinghua Unigroup plans to acquire 51% stakes in Beitelai and Shanghai Tongtu for 3.21 billion yuan and 3.57 billion yuan, respectively [14] - Wolong New Energy is investing 8.04 billion yuan in a 200,000 kW/1.2 million kWh energy storage demonstration project [14] - Top Group is planning to issue H-shares and list on the Hong Kong Stock Exchange [14] Fund Flow Analysis - The telecommunications equipment sector saw a net inflow of 4.19%, with ZTE Corporation being the top stock [15] - The semiconductor sector also experienced a net inflow of 2.77%, led by兆易创新 [15] - In contrast, the photovoltaic equipment sector faced a net outflow of 6.59%, with阳光电源 being the most affected stock [15] Individual Stock Movements - ZTE Corporation saw a significant net inflow of 38.06 billion yuan, with a price increase of 10% [16] - 兆易创新 experienced a net inflow of 11.04 billion yuan, with a price increase of 4.84% [16] - 阳光电源 faced a net outflow of 14.01 billion yuan, with a price decrease of 1.83% [16]