本周一（2月2日），A股人工智能与机器人赛道同步走弱，但相关主题ETF均获资金逆势加码，表现出 市场对赛道长期价值的坚定看好。 机器人ETF（562500）早盘冲高后震荡下行，午后持续走低，最新价1.044元，较开盘价下跌1.880%。 持仓层面，66只成分股中55只下跌，云天励飞领跌13.57%，博杰股份等4只个股跌超5%；科大智能涨 4.72%、昊志机电等2只个股涨超2%，形成局部支撑。流动性方面，成交额达14.23亿元，换手率 5.82%，成交活跃度稳居高位，3.39亿元资金逆势净流入。 科创人工智能ETF（589010）开盘后震荡走弱，午后维持单边下行，最新价1.560元，较开盘价下跌 3.704%。持仓层面，30只成分股中27只走跌，星环科技、云天励飞跌超13%大幅领跌；仅思看科技涨超 10%逆势抗跌，形成零星支撑。流动性方面，成交额达1.83亿元，换手率7.38%，尾盘大量买盘涌入推 动成交活跃度维持高位，9000万元资金主动净流入，彰显资金对赛道的积极布局意愿。 【市场复盘】 【热点要闻】 2、知情人士透露，马斯克计划将SpaceX与旗下AI初创公司xAI合并，该交易已通过备忘录内宣，合并 后实 ...

Group 1 - SpaceX has announced the acquisition of AI company xAI, which is also under Elon Musk's ownership [2] - Oracle plans to raise $25 billion through bonds related to AI financing, marking the largest financing deal in the U.S. corporate sector this year [4] - CPE Yuanfeng has completed a deal to acquire a controlling stake in Burger King's China operations, injecting $350 million and aiming to expand the number of stores from approximately 1,250 to over 4,000 by 2035 [5] Group 2 - Tesla's humanoid robot is set to begin mass production by the end of 2026, with an expected annual output of 1 million units [8] - Xiaomi's CEO Lei Jun responded to concerns about a decline in car deliveries, explaining that January's figures were affected by the seasonal market and the discontinuation of the first-generation SU7 model [18] - The Shanghai government has initiated a project to purchase second-hand housing for affordable rental housing, targeting new citizens, young people, and graduates [9]

以下文章来源于妙投APP ，作者Eastland 妙投APP . 虎嗅旗下二级市场投研服务品牌，为您提供精选上市公司价值拆解，热门赛道产业链梳理 作者｜Eastland 头图｜视觉中国 许多人相信2026年将是SpaceX的上市之年，承销商、募集金额、目标估值、IPO日期都传得有鼻子 有眼。 1月29日，彭博报道称：SpaceX正在考虑与特斯拉或人工智能公司xAI合并。SpaceX仍将IPO，但在 整合完成之后。 2025年11月股东大会批准了"薪酬激励方案"。根据刚刚发布的《2025年报》，特斯拉现有业务（ 汽 车、FSD、机器人 ）无法撑起1.5万亿美元市值。 假如特斯拉因业绩欠佳、股价崩盘，"万亿美元薪酬"泡汤。就算SpaceX成功上市，也无法弥补马斯 克的损失。 而在并入SpaceX之后，特斯拉市值有望突破2万亿美元，马斯克将解锁3531万股特斯拉股票，价值约 合1万亿人民币，"饼"会变得更大更香。 总之，千方百计提高特斯拉市值最符合马斯克的利益。 销量下行难逆转 特斯拉交付量从快速增长到失速： 高端车型追求的是质、低端车型追求的是量。逆水行舟不进则退，特斯拉失去进取心（ 质和量都不 追求 ），汽车业 ...

Core Viewpoint - The article highlights a significant rebound in the U.S. stock market, particularly in the semiconductor sector, driven by optimistic forecasts for DRAM prices by Goldman Sachs, which predicts a substantial increase in prices for 2026 [1][3][4]. Semiconductor Sector - The U.S. stock market saw a strong performance with major indices rising, particularly the Dow Jones, which increased by over 1%, and the S&P 500 approaching historical highs [1][3]. - Semiconductor stocks experienced a collective surge, with the Philadelphia Semiconductor Index rising by 1.7%. Notable performers included SanDisk, which surged over 15%, and Western Digital, which rose nearly 8% [3][4]. - Analysts suggest that capital moving out of precious metals and cryptocurrencies is seeking new investment opportunities, with the storage chip sector poised to attract this influx of funds due to strong fundamentals [3][4]. DRAM Price Forecast - Goldman Sachs has significantly raised its price forecasts for DRAM, predicting a 90%-95% quarter-over-quarter increase in Q1 2026, following a 45%-50% increase in Q4 2025. This outlook exceeds previous market expectations [4]. - In the PC DRAM segment, TrendForce has adjusted its price forecast for Q1 2026 to a 105%-110% increase, surpassing Goldman Sachs' earlier estimate of 80%-90%, indicating potential for further price increases [4]. Economic Indicators - The ISM reported a surprising rise in the U.S. manufacturing PMI for January, jumping from 47.9 to 52.6, indicating expansion and the fastest growth rate since 2022, driven by robust new orders and production [6]. - The new orders index reached 57.1, a significant increase from the previous 47.7, while the production index also showed strong growth, suggesting a rebound in factory activity after a prolonged period of contraction [6]. - Employment index recorded 48.1, indicating a slowdown in job losses within the manufacturing sector, although it remains below the expansion threshold [6].

要闻提示 NEWS REMIND 1. 马斯克宣布：SpaceX已收购xAI，新公司估值1.25万亿美元 2.雷军怒斥说小米二手车崩盘的人：SU7保值率第一，超特斯拉保时捷 3.被指"双标"？腾讯内部信回应元宝红包刷屏：称非诱导分享！此前微信 曾封杀同类裂变营销 4.山姆中国前总裁文安德"跳槽"麦德龙 5.Mate 80卖爆！华为拿到1月中国手机市场份额第一名：份额提升至18.6% 6.奔驰部分车型开启官降，调整幅度10%左右 7.特斯拉第三代人形机器人官宣 2026 年亮相：支持观察人类行为学习新技能，预计年产百万台 8.三星、SK 海力士计划扩大尖端 NAND 产能，月产晶圆规模可达 4-5 万片 今日头条 HEADLINE NEWS 马斯克宣布：SpaceX已收购xAI，新公司估值1.25万亿美元 2月3日消息，全球首富埃隆·马斯克正式宣布，其太空探索技术公司（SpaceX）已完成对旗下人工智能初 创企业xAI的收购。此举将尖端的火箭与卫星技术，同Grok聊天机器人的研发能力深度整合，标志着马斯 克在统一其"人工智能"与"航天探索"双重野心上迈出了决定性一步。马斯克表示："这不仅是SpaceX与 xAI ...

据央视新闻，当地时间2月2日，美国企业家马斯克旗下的太空探索技术公司（SpaceX）发表声明，宣布已收购同属于马斯克旗下的人工智能企业xAI公 司。xAI公司同时也发表声明，证明已"加入SpaceX"。 据智通财经，备忘录显示，SpaceX与xAI合并后的公司预计每股定价约527美元，估值将达1.25万亿美元。其中，SpaceX估值1万亿美元，xAI估值2500亿 美元，合并交易为全股票形式。 此前报道 1月30日，据媒体报道，埃隆·马斯克正在酝酿一场前所未有的商业重组，以打造"行星级"科技帝国。 据知情人士透露，SpaceX已讨论了与特斯拉合并的可能性，部分投资者正推动该想法落实。另外，SpaceX还在研究在首次公开招股（IPO）前与xAI合并 的可行性。最终决定目前尚未作出，具体细节仍可能变动，各公司也可能选择维持独立运营。 据悉，SpaceX考虑在6月（马斯克生日附近）上市，融资额可能高达500亿美元，或成为史上规模最大的IPO，公司估值有望达到1.5万亿美元，接近特斯 拉的1.6万亿美元。 如若合并特斯拉与xAI，新实体的估值可能突破2万亿美元，成为全球市值最高的科技公司。 消息传出后，特斯拉股价在当 ...

据央视新闻，当地时间2月2日，美国企业家马斯克旗下的太空探索技术公司（SpaceX）发表声明，宣 布已收购同属于马斯克旗下的人工智能企业xAI公司。xAI公司同时也发表声明，证明已"加入 SpaceX"。 据智通财经，备忘录显示，SpaceX与xAI合并后的公司预计每股定价约527美元，估值将达1.25万亿美 元。其中，SpaceX估值1万亿美元，xAI估值2500亿美元，合并交易为全股票形式。 据知情人士透露，SpaceX已讨论了与特斯拉合并的可能性，部分投资者正推动该想法落实。另外， SpaceX还在研究在首次公开招股（IPO）前与xAI合并的可行性。最终决定目前尚未作出，具体细节仍 可能变动，各公司也可能选择维持独立运营。 据悉，SpaceX考虑在6月（马斯克生日附近）上市，融资额可能高达500亿美元，或成为史上规模最大 的IPO，公司估值有望达到1.5万亿美元，接近特斯拉的1.6万亿美元。 如若合并特斯拉与xAI，新实体的估值可能突破2万亿美元，成为全球市值最高的科技公司。 消息传出后，特斯拉股价在当天的盘后交易中迅速拉升，涨幅一度触及4.5%。 SpaceX、特斯拉和xAI如何"互补"？在马斯克对S ...

Investment Rating - The report maintains a recommendation rating for the RoboX industry, indicating a positive outlook for investment opportunities in this sector [1]. Core Insights - RoboX is approaching a critical point of industrialization, transitioning from technology validation to large-scale deployment, driven by supportive policies, increasing supply of key components, and strong demand for intelligent driving solutions [7][19]. - The report highlights three main applications of RoboX: Robotaxi, Robovan, and Robotruck, each with distinct market dynamics and growth potential [10][19]. Summary by Sections 1. Investment Focus: RoboX Accelerating Towards Industrialization - RoboX encompasses various forms of autonomous driving applications, including Robotaxi, Robovan, and Robotruck, designed for different transportation scenarios [10]. - The report emphasizes the modular design of RoboX, allowing for adaptability across various transport needs [10]. 2. Robotaxi: Scaling Point Evident, Fully Autonomous Commercialization Gradually Landing - Demand Side: Robotaxi can significantly reduce operational costs, with projected costs of $0.2 per kilometer by 2027, a 50% reduction compared to traditional taxi services [21]. - Supply Side: Continuous reduction in hardware costs is facilitating the scaling of Robotaxi applications, with the sixth-generation vehicle costs dropping by 60% compared to previous models [35]. - Policy Side: The gradual implementation of fully autonomous commercial operations is supported by clear regulations regarding accident liability [21][15]. 3. Robovan: Strong Demand for Unmanned Delivery, Cost Advantages Driven by Core Component Price Reductions - Demand Side: There is a strong need for unmanned delivery solutions in the last-mile logistics sector, covering key application scenarios such as e-commerce and fresh food delivery [3]. - Supply Side: The cost of core components is decreasing, enhancing the price competitiveness of unmanned delivery vehicles [3]. - Policy Side: Continuous opening of road rights and pilot projects is accelerating the deployment of unmanned delivery vehicles [3]. 4. Robotruck: Transitioning from Closed Scenarios to Mainline Logistics, Cross-Province Testing Implemented - Demand Side: Robotruck applications are expected to reach a market scale of hundreds of billions, focusing on stable freight demand in complex environments [4]. - Supply Side: Successful implementation of L4 in closed scenarios is validating the operational capabilities of Robotrucks [4]. - Policy Side: National support is clear, but local policies are cautiously opening up due to the high risks associated with heavy-duty trucks [4]. 5. Investment Recommendations - The report suggests that companies involved in RoboX commercialization, such as WeRide, Cao Cao Mobility, and XPeng Motors, will directly benefit from the scaling of RoboX applications [19]. - It also recommends focusing on intelligent component manufacturers like Horizon Robotics and Desay SV, which are expected to show performance elasticity [19].

Group 1 - Trump and Modi reached a trade agreement to reduce tariffs on Indian goods from 25% to 18% and cancel an additional 25% tariff on Indian purchases of Russian oil. India committed to purchasing over $500 billion worth of U.S. goods in sectors including energy, technology, agriculture, and coal [2] - SpaceX announced the completion of its acquisition of xAI, with SpaceX valued at approximately $1 trillion and xAI at around $250 billion, resulting in a combined valuation of $1.25 trillion [2] Group 2 - The U.S. Labor Statistics Bureau will not release the January non-farm employment report due to a partial government shutdown, and the December job openings report will also be postponed [4] - U.S. stock markets saw all three major indices rise, with the Dow Jones up 1.05%, S&P 500 up 0.54%, and Nasdaq up 0.56%. Notable tech stocks like Intel rose nearly 5%, while Nvidia fell over 2% [5][6] - The Nasdaq Golden Dragon China Index fell 0.65%, with significant declines in Chinese stocks such as XPeng down 8.2% and BYD down 6.7% [5] Group 3 - The U.S. dollar index increased by 0.64%, while the offshore and onshore RMB showed slight fluctuations [8] - Gold and silver experienced significant volatility, with spot gold dropping over 4% and silver declining nearly 7%. WTI crude oil futures fell by approximately 4.71% [6][8] Group 4 - The Chinese manufacturing PMI for January rose to 50.3, indicating continued expansion, driven by improvements in employment and new orders [22] - Citigroup raised its GDP forecast for Hong Kong to 3.2% for the year, reflecting a more stable recovery in major industries [24]

【文/观察者网专栏作者 心智观察所】 埃隆·马斯克日前在社交媒体上的感叹："让干电极工艺实现规模化，这在锂电池生产技术上是一个重大突破，其难度超乎想象。" 从"湿法"到"干法"：一场颠覆百年电池工业的范式革命 这项名为"干电极"（Dry Electrode）的技术，长期以来被视为锂离子电池制造领域的"圣杯"——它承诺更低的成本、更高的能量密度、更环保的生产过程， 却因工程实现难度极高，数十年来始终停留在纸面或小试阶段。 如今，特斯拉不仅摘下了这顶王冠，还用一整套严密的专利体系将其牢牢锁住。 要理解这一突破的分量，必须先回到锂电池制造的起点。 自1991年索尼首次将锂离子电池商业化以来，其核心制造流程几乎没有本质变化：将正负极活性材料、导电剂和粘结剂混合在有毒有机溶剂（如N-甲基吡 咯烷酮，简称NMP）中，制成浆料后涂覆在铜箔或铝箔上，再送入长达百米的巨型烘箱中烘干。 这套"湿法涂布"工艺看似成熟，实则背负着沉重的代价。首先，能耗惊人——烘干环节占整个电池生产能耗的30%到50%；其次，NMP具有生殖毒性，其回 收处理不仅成本高昂，还带来环境与职业健康风险；更重要的是，高速搅拌和高温干燥会损伤活性材料的微观结构 ...