深度｜印奇与阶跃的全景：一支战队，一条窄路，一个物理世界

Core Viewpoint - The article highlights the significant financing achievement of Jumpshare Star, which has raised over 5 billion RMB in a B+ round, surpassing the IPO fundraising targets of competitors like Zhipu AI and MiniMax, indicating strong market confidence in its unique strategy and team [2][3][4]. Group 1: Financing and Capital - Jumpshare Star's recent financing sets a record for single financing in the Chinese large model sector, reflecting a shift in investor focus towards technology barriers, clear commercialization paths, and resilient teams [3][4]. - The diverse shareholder composition, including state-owned enterprises, industrial capital, long-term insurance capital, and market-oriented VC, signals strong confidence in Jumpshare Star's long-term value and stability [4]. - Many investors view Jumpshare Star as their primary or sole investment in the large model field, indicating a concentrated bet on its potential [4]. Group 2: Team and Leadership - The article emphasizes the importance of team composition in Jumpshare Star's success, highlighting a well-rounded team capable of addressing the multifaceted challenges of the large model industry [5][6]. - The appointment of Yin Qi as chairman brings extensive experience in commercializing AI technologies, positioning Jumpshare Star for strategic success [7][8]. - Key team members include Jiang Daxin, who has a strong background in transforming technology into competitive products; Zhang Xiangyu, a leading algorithm scientist; and Zhu Yibo, an expert in AI infrastructure, all contributing to a comprehensive operational strategy [8][9]. Group 3: Strategic Direction - Jumpshare Star's choice of the "AI + terminal" strategy is seen as a unique path amidst the challenges faced by other large model companies, aiming to integrate AI into physical devices [10][11]. - The company focuses on developing a multi-modal AI capability and deep integration with terminal devices, which is essential for creating a comprehensive intelligent assistant [11][12]. - The revenue model is designed to be sustainable, with income linked to the sales of partner manufacturers, indicating a clear and viable business strategy [12][13]. Group 4: Market Performance and Future Outlook - Jumpshare Star has demonstrated strong market demand, with a 170% increase in API call volume over three consecutive quarters and partnerships with major smartphone brands, indicating robust commercial traction [13]. - The company is set to equip over one million new vehicles with its large model technology, showcasing its expansion into the automotive sector [13]. - The article concludes that Jumpshare Star's strategic choices, technological foundations, and business validations position it well for future growth, suggesting a promising trajectory in the AI landscape [14][15].