Anthropic突然撤销了OpenAI员工对Claude的访问权，声称该公司违反了其服务条款。 WIRED消息提到，就在GPT-5发布前，OpenAI的技术人员也还在使用Claude Code。 达里奥·阿莫迪抨击奥特曼和小扎 在一则访谈节目中，Anthropic的CEO达里奥·阿莫迪（Dario Amodei）聊到了AI公司竞争问题。 达里奥·阿莫迪认为，影响AI发展的积极研究，应该是来自公司层面的，比如更有效的方法、什么时候发布和研究等等。 那关于OpenAI在这方面的操作，他说道， "一家公司的领导者必须是值得信赖的、动机真诚的人。无论你在技术上如何推动公司前进，如果你为动机不真诚、不诚实、不真正想让世界 变得更好的人工作，那都不会成功。你只是在助长一些坏事。" 除了吐槽OpenAI，达里奥·阿莫迪也顺带吐槽了小扎疯狂抢人的行为。 就是说，OpenAI使用对家的Claude来辅助自家GPT-5的开发和安全测试，而且根据奥特曼发布的实测，GPT-5在编程领域重写了编码规则。 他说，小扎这举动就像是投飞镖，投到谁，谁就有高于别人10倍的薪酬，这无疑是主观的、不利于公平的。 这不就触发了Anthropic的 ...

奕然 发自 凹非寺 量子位 | 公众号 QbitAI Anthropic突然撤销了OpenAI员工对Claude的访问权，声称该公司违反了其服务条款。 除了吐槽OpenAI，达里奥·阿莫迪也顺带吐槽了小扎疯狂抢人的行为。 WIRED消息提到，就在GPT-5发布前，OpenAI的技术人员也还在使用Claude Code。 就是说，OpenAI使用对家的Claude来辅助自家GPT-5的开发和安全测试，而且根据奥特曼发布的实测，GPT-5在编程领域重写了编码规则。 这不就触发了Anthropic的API防御策略了么。 这场AI编程之战，一起看看怎么回事。 达里奥·阿莫迪抨击奥特曼和小扎 在一则访谈节目中，Anthropic的 CEO达里奥·阿莫迪（Dario Amodei） 聊到了 AI公司竞争 问题。 达里奥·阿莫迪认为，影响AI发展的积极研究，应该是来自公司层面的，比如更有效的方法、什么时候发布和研究等等。 那关于OpenAI在这方面的操作，他说道， "一家公司的领导者必须是值得信赖的、动机真诚的人。无论你在技术上如何推动公司前进，如果你为动机不真诚、不诚实、不真正想让 世界变得更好的人工作，那都不会成功。你 ...

Company Rating - The report assigns a "Buy" rating to Inspur Digital Enterprise (596) with a target price of HKD 14.3, indicating a potential upside of 36.5% from the current price of HKD 10.48 [2][8]. Core Insights - Inspur Digital Enterprise is positioned as a leading ERP software provider in China, benefiting from its state-owned background and extensive client base, which includes 79 central enterprises and over 120,000 corporate clients [5][6]. - The acceleration of domestic digital transformation and the push for localization in technology provide significant market opportunities for the company, particularly in the ERP sector [6][8]. - The company's cloud service revenue has shown remarkable growth, increasing from RMB 510 million in 2020 to RMB 2.76 billion in 2024, with a compound annual growth rate (CAGR) of 53.3% [7][8]. Financial Summary - The report forecasts the company's net profit for 2025, 2026, and 2027 to be RMB 5.3 billion, RMB 6.5 billion, and RMB 8.0 billion respectively, with earnings per share (EPS) projected at RMB 0.46, RMB 0.57, and RMB 0.70 [9][8]. - The total revenue for the fiscal years 2023 to 2027 is expected to grow from RMB 8.29 billion in 2023 to RMB 10.87 billion in 2027, reflecting a steady growth trajectory [9][8]. Market Position - Inspur Digital Enterprise is uniquely positioned as the only major SaaS provider with state-owned backing, which aligns well with the security needs of central and state-owned enterprises [6][8]. - The company has established a strong foundation for market expansion through long-term collaborations with various central enterprises, enhancing its industry experience and customer resource base [6][8].

Investment Rating - The report maintains a strong positive outlook on the AI application-driven demand for computing power, indicating a sustained high growth trajectory in the industry [2]. Core Insights - The computing power industry is at a pivotal moment with both domestic and international chains resonating, leading to renewed market interest in the domestic computing power supply chain after a period of stagnation [2]. - The report anticipates that the tight balance in domestic computing power will persist, with critical bottlenecks in advanced process capacity, advanced packaging capacity, large model adaptation, and HBM supply gradually being addressed over time [2]. - The second half of the year and into next year is expected to present significant investment opportunities in domestic computing power [2]. Domestic and International Computing Power Supply Chain Opportunities - The report suggests focusing on high-end PCB, optical modules, and server ODM sectors within the overseas computing power supply chain, which are expected to maintain high demand and profitability [3]. - Supply shortages in upstream materials such as fiberglass cloth and M8 CCL for AI servers are projected to continue, leading to potential price and profit margin increases [3]. - Investment opportunities are highlighted in companies like Shengyi Technology (生益科技, 600183) [3]. CoWoP Solution - NVIDIA is exploring the CoWoP packaging solution as a potential alternative to the current CoWoS packaging, which could enhance the value of PCBs if adopted [4]. - The CoWoP solution requires mSAP processes, which depend on ultra-thin peelable copper foil, currently dominated by Mitsui Mining & Smelting in Japan [4]. - Domestic company Fangbang Technology (方邦股份, 688020) is mentioned as having relevant products, although supply confirmation is pending [4]. Domestic Computing Power Supply Chain - Key domestic computing hardware companies such as Cambricon (寒武纪, 688256) and SMIC (中芯国际, 0981.HK) are recommended for investment [5]. - The report notes that due to geopolitical considerations, ByteDance has paused its ASIC chip design project with Broadcom and is now working with domestic design service providers [5]. - Investment opportunities are also suggested in domestic chip IP leader Xinyuan Technology (芯原股份, 688521) [5]. Traditional Analog Chip Recovery Opportunities - The analog chip sector is benefiting from domestic substitution and local-for-local demand, with wafer fab utilization rates remaining high and terminal prices increasing by 10-20% [8]. - TI has announced price increases for 99.9% of its product lines, with significant portions seeing price hikes of over 30% [8]. - Investment opportunities are recommended in companies like Huahong Semiconductor (华虹半导体, 1347.HK) and others [8]. Investment Recommendations - The report recommends buying shares in Huahong Semiconductor (1347.HK) and other companies involved in storage and mature process chips [9].

科技成为进攻的方向！ 上午红利资产托市，下午科技股唱戏。午后，人工智能、机器人、半导体、游戏板块集体爆发。港股市场，半 导体板块亦大涨，英诺赛科涨超33%，华虹半导体涨超8%，中芯国际涨近3%。 消息面上，科技板块亦迎来多重催化。首先，上海市人民政府办公厅近日印发《上海市支持企业加强基础研究 增强高质量发展新动能的若干措施》，支持企业投入基础研究税收优惠；其次，智元机器人宣布，将于8月21 日在上海举办首届合作伙伴大会，会上百台机器人同场亮相，还将首发"神秘新品"；最后，2025世界机器人大 会将在8月8日举行，百余款首发新品将亮相2025世界机器人大会。人工智能也有不少利好消息。 科技赛道爆发 午后，人工智能、机器人、半导体、游戏板块集体爆发，其中人工智能板块大面积涨停或涨幅超10%，机器人 ETF易方达大涨3.2%，游戏ETF华泰柏瑞大涨3%，科创AIETF大涨近2%。 半导体午后亦大幅拉升，东芯股份20%涨停，芯导科技、芯原股份皆大涨超10%。华虹公司大涨超7%。港股半 导体板块亦大涨，英诺赛科涨超33%，华虹半导体涨超8%，中芯国际涨近3%。 消息面上，科技股迎来多重催化。人工智能方面，OpenAI首 ...

Investment Strategy - The explosive demand for computing power is driving a significant increase in capital expenditures (capex), with infrastructure construction expected to enter a golden period. Major companies like Microsoft and Meta are reporting substantial profit and capex growth, indicating a high level of activity in the computing power industry. For instance, Microsoft's net profit for Q2 was $27.23 billion, a 24% year-on-year increase, while its capital expenditure rose by 27% to $24.2 billion. Meta's net profit grew by 36% to $18.34 billion, with projected capital expenditures for 2025 reaching between $66 billion and $72 billion [4][10][14]. - The token economy's business model is being validated, with domestic demand for computing power expected to accelerate. Alphabet reported processing over 980 trillion tokens monthly, with ChatGPT's weekly active users surpassing 700 million. The weekly token consumption for large models has seen a nearly fivefold increase from January to July 2025 [11][12]. - The "AI+" policy is catalyzing growth in industry applications. The Chinese government is actively promoting the commercialization of AI, with local policies supporting the expansion of AI applications. For example, Shanghai has issued measures including the distribution of 600 million yuan in computing power vouchers [12][15]. Industry News - Major overseas companies are experiencing significant growth in performance and capital expenditure. Microsoft's Q2 revenue reached $76.44 billion, an 18% year-on-year increase, while Meta's revenue was $47.52 billion, up 22%. Both companies attribute their growth to the deep application of AI technology [14]. - The State Council of China has approved the "AI+" action plan, emphasizing the need for large-scale commercialization of AI applications. This policy aims to leverage China's complete industrial system and large market scale to promote AI integration across various sectors [15]. - The rapid launch of satellites indicates an acceleration in satellite internet construction in China. Recent successful launches of low-orbit satellites demonstrate the country's commitment to enhancing broadband communication services [16][17]. - Eight major banks have jointly released financial service products for the "AI+ manufacturing" sector, with a commitment to provide at least 400 billion yuan in credit by the end of 2027. This initiative aims to support the intelligent transformation of manufacturing enterprises [18]. Weekly Review and Focus - The communication sector saw a 4.12% increase this week, outperforming major indices like the Shanghai Composite Index, which fell by 0.57%. Notable gains were observed in optical modules and optical communication sectors, with increases of 9.86% and 5.29%, respectively [19][21]. - The focus for the upcoming week includes investment opportunities in the AIDC chain and related sectors, with companies such as ZTE Corporation and Inspur Information being highlighted for potential growth [23].

作者 | 冬梅 8月1日晚，谷歌宣布向 Google AI Ultra 订阅用户推出 Deep Think 功能，Gemini 2.5 Deep Think 模型在今年的国际数学奥林匹克竞赛 (IMO) 上夺得金 牌。 谷歌亮相 IMO 竞赛夺冠模型 谷歌表示，这是其最先进的人工智能推理模型，能够通过同时探索和考虑多个想法来回答问题，然后使用这些输出来选择最佳答案。 从昨天起，谷歌每月 250 美元的 Ultra 订阅用户将可以在 Gemini 应用程序中访问 Gemini 2.5 Deep Think。 Gemini 2.5 Deep Think 于 2025 年 5 月在 Google I/O 开发者大会上首次亮相，是谷歌首个公开的多智能体模型。这些系统会生成多个 AI 智能体来并行 处理一个问题，这个过程比单个智能体消耗更多的计算资源，但往往会得到更好的答案。 除了 Gemini 2.5 Deep Think 之外，谷歌还表示将向特定数学家和学者群体发布其在国际海事组织 (IMO) 中使用的模型。 谷歌表示，该 AI 模型"推理只需数小时"，而不像大多数面向消费者的 AI 模型那样只需几秒或几分钟。该公 ...

OpenAI首席执行官山姆·奥尔特曼（Sam Altman）当地时间周日在社交平台X上分享了一张截图，似乎展示了备受期待的GPT-5。 奥尔特曼在X上发布了一条看似随意的留言，称赞科幻动画剧《Pantheon》。这部剧在科技圈中颇具人气，主题涉及通用人工智能等议题。 一名X用户随后询问GPT-5是否也会推荐这部剧。奥尔特曼回复了一张截图，并写道："结果是会的！" 截图显示，奥尔特曼向GPT-5提问："关于AI，最发人深省的电视节目是什么？"GPT回答说： 如果你正在寻找最发人深省的人工智能题材电视剧，这里有一份精心挑选的片单——每一部都以独特视角探讨智能、意识与人类—AI的关系： 1. 《Pantheon》（AMC+ / Netflix） 这是一颗在科技圈中备受推崇的隐藏宝石。《Pantheon》深入探讨了意识上传、人工通用智能，以及以数字化意识形态生活所带来的伦理影响。 它在硅谷广受认可，被视为进行AGI、身份认同与社会影响相关思想实验的首选剧集。该剧在烂番茄网站的影评人评分为100%，其叙事风格思 想性强、情感充沛、哲理意味浓厚。 2. 《Devs》（FX on Hulu） 由《机械姬》（Ex Machi ...

Group 1 - The article discusses the contrasting views on artificial intelligence (AI), highlighting a divide between pessimistic and optimistic perspectives among experts [2][3][5] - It emphasizes that while AI can perform certain tasks, it lacks true understanding and reasoning capabilities, relying instead on statistical methods [7][8][10] - The article critiques the notion that AI's intelligence is akin to human intelligence, arguing that there are fundamental differences in understanding and reasoning [11][12][24] Group 2 - The lack of a solid scientific foundation for AI is noted, with historical references to Turing's work being described as subjective and not meeting scientific standards [10][12][14] - The article points out that AI's reliance on statistical methods has led to practical applications but does not equate to theoretical breakthroughs in science [15][17] - It suggests that AI is merely a part of the broader information technology landscape, which aims to enhance human capabilities rather than replace them [19][20][21] Group 3 - The historical context of technological development is discussed, indicating that reliance on empirical craftsmanship has limitations compared to scientific advancements [22][24] - The article warns against the potential for misinformation and the dilution of scientific rigor in the discourse surrounding AI, especially as society enters a "post-science" era [24][25] - It concludes that the aspiration to create machines with human-like consciousness remains unattainable without a deeper scientific understanding of consciousness itself [23][24]

Core Viewpoint - Zhipu AI, an artificial intelligence model developer based in Beijing, has experienced a remarkable revenue growth of four times in the first half of this year, attracting attention from OpenAI [2][3]. Business Performance - Zhipu AI's revenue last year was only $42 million, but the strong growth in the first half of this year indicates a rapid acceleration in AI applications within China [3]. - The release of the R1 model by DeepSeek in January has sparked significant interest from local governments and enterprises in utilizing AI [3]. - Zhipu AI is focusing on developing affordable models and commercial AI services to compete with American AI companies, as traditional enterprise clients in China have been reluctant to pay for software [3]. Market Expansion - The company is intensifying its efforts to expand into Southeast Asia and Africa, regions where Chinese companies like Huawei have already established a presence in telecommunications and critical infrastructure [4]. - Despite being placed on a trade blacklist by the U.S. government, which limits access to American technology, Zhipu AI continues to sell its models and services to U.S. clients, although attracting them has become more challenging [5][6]. Product Development - Zhipu AI is shifting its focus from merely selling AI models to providing services that help clients customize and integrate AI into their businesses [6]. - The company recently launched GLM-4.5, a new open-source large language model designed for AI applications, which can be deployed at a relatively low cost for enterprise and government clients [6]. Strategic Vision - The CEO of Zhipu AI believes that the AI wave presents significant opportunities for all countries, not just China and the U.S. [5]. - Zhipu AI aims to assist overseas clients in building their own AI capabilities, despite the challenges posed by U.S. restrictions [5][9]. - The company has raised over $1.5 billion since its establishment in 2019, with backing from state-owned funds and prominent venture capital firms [7].