Core Insights - Leading AI developers are increasingly focused on creating models that mimic human reasoning, but these models are significantly more energy-intensive, raising concerns about their impact on power grids [1][4]. Energy Consumption - AI reasoning models consume, on average, 30 times more power to respond to 1,000 prompts compared to alternatives without reasoning capabilities [2]. - A study evaluated 40 open AI models, revealing significant disparities in energy consumption; for instance, DeepSeek's R1 model used 50 watt hours with reasoning off and 7,626 watt hours with reasoning on [3][6]. - Microsoft's Phi 4 reasoning model consumed 9,462 watt hours with reasoning enabled, compared to 18 watt hours with it disabled [8]. Industry Concerns - The rising energy demands of AI have led to scrutiny, with concerns about the strain on power grids and increased energy costs for consumers; wholesale electricity prices near data centers have surged by up to 267% over the past five years [4]. - Tech companies are expanding data centers to support AI, which may complicate their long-term climate objectives [4]. Model Efficiency - The report emphasizes the need for understanding the evolving energy requirements of AI and suggests that not all queries necessitate the use of the most energy-intensive reasoning models [7]. - Google reported that its Gemini AI service's median text prompt used only 0.24 watt-hours, indicating a lower energy consumption than many public estimates [9]. Industry Leadership Perspectives - Tech leaders, including Microsoft CEO Satya Nadella, have acknowledged the need to address AI's energy consumption, emphasizing the importance of using AI for societal benefits and economic growth [10].

21世纪经济报道记者 申俊涵 广州报道 12月5日，第15届21世纪创新资本年会在广州举办。本次活动由南方财经全媒体集团指导、21世纪经济报道主办、21世纪创投研 究院提供首席智库支持，本次活动还得到中宏保险的特别支持。 21世纪经济报道执行总编辑陈晨星在致辞时表示，过去一年，中国股权投资市场在静默中积蓄力量、在变革中探寻新路。从 DeepSeek的惊艳表现到宇树科技全球领跑，一轮由硬科技驱动的创新浪潮正以前所未有的力量，重塑产业格局，也重构着全球 创投的价值图谱。 二级市场的回暖，不仅为行业打开了IPO退出的希望之窗，更让"募投管退"的良性循环有了更坚实的落脚点。与此同时，一场由 产业龙头、投资机构与地方政府共同主导的并购整合大戏已然启幕。 随后，陈晨星介绍了《21世纪经济报道•创投版》的发展情况。她指出，作为深耕股权投资领域14年的专业媒体，《21世纪经济 报道•创投版》始终以理性视角记录行业变迁。依托21世纪创投研究院，团队构建起覆盖"募投管退"全链条的研究体系，通过日 常报道、研究报告、论坛活动等产品形式，持续为行业输出前瞻洞察，服务投资机构的"找钱、找项目、找退出路径"等直接需 求。 "变化是永恒的 ...

Core Viewpoint - The CEO of Canadian startup Cohere, Aidan Gomez, asserts that the collaboration between the U.S. and Canada will surpass China in the AI sector, emphasizing that democratic nations are reluctant to rely on Chinese technology [1][3]. Group 1: Company Insights - Cohere, based in Toronto, focuses on building enterprise-specific AI models and is positioned favorably in the global AI competition [1]. - Gomez claims that the U.S. and Canada are in an "incredibly advantageous position" for global AI adoption, despite acknowledging that China has developed high-performance AI models [1][3]. - The company argues that the key factor is not who develops the technology first, but who can commercialize it on a large scale [1]. Group 2: Industry Trends - The rapid development of AI has led to significant investments, with tech investors pouring hundreds of billions into the sector [3]. - There is a growing demand from investors for better returns from major tech companies like Microsoft and Alphabet, indicating a shift in expectations [3]. - Concerns about the risks associated with AI technology are rising, but Gomez downplays apocalyptic narratives, suggesting that society is adapting to the realities of AI [3]. Group 3: Competitive Landscape - The AI competition between the U.S. and China is intensifying, with Chinese startups like DeepSeek gaining traction and major companies like Alibaba and Baidu accelerating their AI product launches [3][4]. - U.S. tech giants are investing heavily in enhancing their computing capabilities and AI infrastructure to maintain leadership in the sector [4]. - Nvidia's CEO Jensen Huang has expressed concerns about China's potential to win the AI race, highlighting the competitive pressures faced by U.S. companies [4].

Core Viewpoint - The CEO of Canadian startup Cohere, Aidan Gomez, expressed confidence that the collaboration between the U.S. and Canada will surpass China in the AI sector, attributing this to the reluctance of "democratic countries" to rely on Chinese technology [1][3]. Group 1: Company Insights - Cohere, based in Toronto, focuses on building enterprise-specific AI models and is positioned favorably in the global AI competition [1]. - Gomez highlighted that while China has developed high-performance AI models, the key factor is who can commercialize the technology on a large scale, suggesting that the U.S. and Canada are in an advantageous position [1][3]. Group 2: Industry Trends - The rapid development of AI has led to significant investments, with tech investors pouring hundreds of billions into the sector, although there is increasing pressure for better returns from major companies like Microsoft and Alphabet [3]. - Concerns about the risks associated with AI technology are growing, but Gomez dismissed extreme narratives about AI's potential dangers, emphasizing the reality of AI's integration into society [3]. Group 3: Competitive Landscape - The AI race between the U.S. and China is intensifying, with Chinese startups and tech giants accelerating the release of new models and products [3][4]. - The U.S. has implemented various export restrictions on semiconductor technology to curb China's tech development, which has led to tensions and competitive anxiety among U.S. tech leaders [4].

Core Insights - Leading AI developers are focusing on creating models that mimic human reasoning, but these models are significantly more energy-intensive, raising concerns about their impact on power grids [1][4]. Energy Consumption - AI reasoning models consume, on average, 100 times more power to respond to 1,000 prompts compared to alternatives without reasoning capabilities [2]. - A study evaluated 40 AI models, revealing significant disparities in energy consumption; for instance, DeepSeek's R1 model used 50 watt hours with reasoning off and 308,186 watt hours with reasoning on [3]. - Microsoft's Phi 4 reasoning model consumed 9,462 watt hours with reasoning enabled, compared to 18 watt hours with it disabled [8]. Industry Concerns - The increasing energy demands of AI have led to scrutiny, with concerns about the strain on power grids and rising energy costs for consumers; wholesale electricity prices near data centers have surged by up to 267% over the past five years [4]. - Tech companies are expanding data centers to support AI, which may complicate their long-term climate objectives [4]. Model Efficiency - The report emphasizes the need for understanding the evolving energy requirements of AI and the importance of selecting appropriate models for specific tasks [7]. - Google reported that its Gemini AI service's median text prompt used only 0.24 watt-hours, significantly lower than many public estimates [9]. Industry Response - Tech leaders, including Microsoft CEO Satya Nadella, have acknowledged the need to address AI's energy consumption and suggested that the industry must demonstrate the positive societal impact of AI to gain social acceptance for its energy use [10].

Jay 发自 凹非寺 量子位 | 公众号 QbitAI 奥特曼又得拉响红色警报了。 刚刚，谷歌再次扔出重磅炸弹—— Gemini 3 Deep Think 正式上线！ 这款谷歌最新最强模型，推理能力确实有点离谱。 轻松把草图变成逼真3D场景，不仅结构还原到位，就连镂空花纹与光影都处理得明明白白。 甚至有网友拿它搞起了视觉艺术，一人一AI在虚拟宇宙里「不知天地为何物」。 看完这些demo，估计奥特曼只得再次咬牙切齿送上「happy for u」了。 （doge） 几句话就能搭出个3D多米诺骨牌解压游戏，运行相当丝滑。 Ultra用户今天就能通过Gemini聊天框里的「Deep Think」选项用起来了～ 高歌猛进的Gemini，又一次屠榜 不给对手任何喘息的机会，Gemini 3 Pro刚给OpenAI按在地上锤完，谷歌转手又扔出一重磅炸弹——Gemini 3 Deep Think。 相比之前的模型，新版本在复杂数学、科学推理和逻辑问题上都有大幅提升，旨在攻克那些连最强模型都难以解决的数学、科学和逻辑问题。 具体来说，在「深度思考」模式下，Gemini会开启迭代推理，能多轮打磨代码，生成更精细的程序，从而在可视 ...

Core Viewpoint - The European cross-border e-commerce market is undergoing significant changes due to new tax policies and increasing scrutiny on Chinese e-commerce platforms like SHEIN and Temu, which face challenges in expanding their market presence in Europe [1][5][19]. Group 1: Regulatory Changes - The European Council has announced the implementation of a small package tax policy, which will take effect in early 2026, eliminating the previous exemption for goods under €150 [1]. - All incoming packages will now incur customs duties, VAT, and a customs inspection fee of approximately €2, which will complicate the logistics for e-commerce platforms [1][5]. - Experts suggest that these changes will shift consumer purchasing decisions from price-driven to value and trust-oriented, increasing the operational costs for sellers due to the need for more detailed customs data [5][21]. Group 2: Market Dynamics - In 2024, the EU is expected to receive 4.6 billion low-value e-commerce packages, with 91% originating from China, equating to approximately 4.186 billion packages [7][8]. - Despite regulatory challenges, Temu and SHEIN have seen substantial user growth in Europe, with Temu's monthly active users reaching 115.7 million in the first half of 2025, a 12.5% increase from the previous year [9]. - The economic downturn in Europe, exacerbated by the Russia-Ukraine conflict, has led consumers to seek more affordable options, benefiting discount retailers and platforms like Temu and SHEIN [10][11][14]. Group 3: Consumer Behavior - European consumers are increasingly turning to discount stores and e-commerce platforms for essential goods, reflecting a shift in spending habits due to inflation and economic uncertainty [10][14]. - The disparity between wealth and poverty in Europe is growing, with many middle-class consumers feeling the pinch and opting for cheaper alternatives like SHEIN [15][16]. - The demand for affordable products is evident, as consumers express a preference for low-cost options over locally produced goods, highlighting a significant market opportunity for Chinese e-commerce [15][16]. Group 4: Strategic Responses - Some sellers are considering shifting to local e-commerce platforms to navigate the new regulatory landscape, but experts argue that this strategy may be outdated due to declining marketing budgets on these platforms [19][21]. - Sellers are still required to pay customs duties regardless of whether they ship directly from China or use local warehouses, complicating the logistics further [21]. - Temu and SHEIN are viewed as the best options for sellers due to their traffic advantages and lower commission rates compared to other platforms [21][22]. Group 5: Brand Development - The long-term solution for sellers lies in building brands rather than relying solely on low-price strategies, which are unsustainable in the European market [28][31]. - Successful brand development requires a focus on product positioning, uniqueness, and alignment with market needs, as demonstrated by the success of brands like Avril Paris [31][33]. - The rise of the Print on Demand (POD) model has shown that Chinese sellers can effectively respond to market trends and consumer demands for personalized products [29][30].

2025年，堪称中国大语言模型的元年，这一年DeepSeek横空出世，很快在全球掀起风暴，甚至抢走了 OpenAI的风头。 面对一个文科背景的访问者，特伦斯用通俗的语言讲述了，为什么AI技术在经历了60年的研究后最近 几年才突飞猛进，变得如此强大并广泛应用。他用科学家的激情和热忱，逐一打消了我们对于AI大语 言模型"编造事实"、带有偏见、抢人类工作、甚至未来可能威胁人类的各种担忧。他还讲述了自己在 1980年代和其他科学家一起挑战语言学权威和数学权威，将语言之间的联系用方程写出来，从而奠定了 大语言模型基础的故事，并以此来鼓励年轻人，科学探索要不畏惧权威，"当专家告诉你某件事不可能 时，不要听他们的。" 此外，针对各国纷纷出台的AI监管法案，他一再强调AI大语言模型还处在初级阶段，监管过早过细会 影响科学发展。新技术只有被大规模使用，科学家们才能通过试错，发现解决问题的办法。以下是我们 的对话实录。 观察者网【思想者茶座】连线特伦斯·谢诺夫斯基 【对话/观察者网 高艳平】 OpenAI一夜成名背后，经历了60年的积累 观察者网：今年以来，随着DeepSeek等应用的普及，我们开始更频繁的使用AI工具。因此有关 ...

Core Insights - The latest xbench-ScienceQA leaderboard has been released, showcasing new models from six companies, with Gemini 3 Pro achieving state-of-the-art (SOTA) performance and DeepSeek V3.2 matching GPT-5.1 in scores while offering high cost-effectiveness [1][2][6] - xbench will introduce two new benchmarks to evaluate agent instruction-following capabilities and multimodal understanding of models [1] Model Performance Summary - **Gemini 3 Pro**: Scored 71.6, up from 59.4 in Gemini 2.5 Pro, with a BoN of 85. Average response time is 48.62 seconds. Cost for answering 500 questions is approximately $3 [3][6] - **DeepSeek V3.2**: Achieved a score of 62.6, matching GPT-5.1, with a BoN of 81. The cost for 500 questions is only $2 for the Speciale version and $1.3 for the Thinking version [6] - **Claude Opus 4.5**: Scored 55.2 with a fast average response time of 13 seconds, showing improvement over its predecessor [6] - **Kimi K2 Thinking**: Scored 51.8 with a BoN of 76, indicating a slight improvement [6] New Model Developments - **DeepSeek V3.2**: Introduces a Sparse Attention mechanism to enhance long-context performance while reducing computational complexity. It also features a scalable reinforcement learning framework to improve reasoning and instruction-following capabilities [10][12] - **Gemini 3**: A new multimodal model from Google DeepMind, excelling in reasoning depth and multimodal understanding, achieving a top score of 1501 Elo in LMArena [13] - **Nano Banana Pro**: A new image generation model that integrates advanced reasoning capabilities with real-time knowledge, allowing for complex image synthesis [14] - **Claude Opus 4.5**: A flagship model from Anthropic that excels in code generation and human-computer interaction, achieving high performance in real-world software engineering tasks [15][16] - **GPT-5.1**: An important iteration from OpenAI that enhances conversational fluency and complex task reasoning, introducing adaptive reasoning mechanisms [17] - **Tongyi DeepResearch**: Designed for deep research tasks, this model combines mid-training and post-training frameworks to enhance agent capabilities, achieving competitive performance with a smaller model [19]

Core Viewpoint - The article discusses the complex relationship between China and the United States, highlighting both competition and cooperation, particularly in the context of economic trade and technology, with a focus on the recent meeting between the leaders of both nations [1][4]. Group 1: U.S.-China Relations - Both countries recognize the intertwined interests between their economies and the necessity to find a path for coexistence, especially with the upcoming U.S. midterm elections in 2026, where economic performance will be a key factor [2][4]. - The current phase of U.S.-China relations is characterized by a temporary easing of trade tensions, with both nations seeking sustainable coexistence amid their deep economic interdependencies [4][6]. Group 2: Investment Outlook - International investors have shown renewed interest in the Chinese market this year, with expectations that the attractiveness of Chinese assets will continue to grow through 2026 [2]. - Market volatility is anticipated in the fourth quarter of 2025, but investors are looking forward to sector rotations, particularly in high-dividend, traditional consumption, and financial sectors, which may enhance overall asset valuations [2][4]. Group 3: AI as a Competitive Arena - The rapid development of generative AI has positioned it as a new battleground between the U.S. and China, with significant implications for global power dynamics [10][12]. - There are differing perspectives on AI's role: while the U.S. sees it as a race for dominance, China views it as a tool for enhancing efficiency across various industries [12][13]. Group 4: Recommendations for Chinese Enterprises - Chinese companies looking to enter the U.S. market should adopt a patient approach, consider joint ventures for cultural understanding and political protection, and prepare for increased regulatory scrutiny [8].