Core Viewpoint - The stock price of Cambricon, a leading domestic AI chip company, experienced a significant drop of 9.18% on February 3, closing at 1128 yuan per share, largely due to market rumors regarding its revenue projections for 2026 being significantly lower than expectations [1][3]. Group 1: Stock Performance and Market Reaction - Cambricon's stock price fell sharply, with an intraday decline of up to 14%, resulting in a market capitalization loss of over 48 billion yuan in one day [1][3]. - The company issued a statement denying the rumors about its revenue guidance and emphasized that it has not organized any small-scale communications recently [1][3]. - Despite a slight recovery in stock price after the statement, negative market sentiment persisted [1]. Group 2: Revenue Projections and Financial Outlook - Cambricon projected its 2025 annual revenue to be between 6 billion to 7 billion yuan, representing a year-on-year growth of 410.87% to 496.02%, with a net profit forecast of 1.85 billion to 2.15 billion yuan [3]. - The expected net profit for Q4 2025 is estimated to be between 245 million to 545 million yuan, indicating a significant decline compared to analyst expectations of 613 million yuan [3]. Group 3: Industry Context and Competitive Landscape - The adjustment in the AI chip sector reflects both domestic and international market pressures, with concerns about the saturation of AI infrastructure driven by large language models [2]. - The domestic market is seeing an influx of new AI chip companies, which may dilute Cambricon's market position and raise questions about its valuation and future performance [2]. - Other companies in the sector, such as Tenstorrent and Mozi Technology, are actively launching new products and providing detailed updates on their technological advancements, contrasting with Cambricon's limited communication [4].

其早盘开盘后跳水，截至午间收盘，股价下跌12.88%至1082.09元/股，创出近半年新低，总市值相较前一 交易日减少675亿元，跌至4563亿元。 受此影响，其他国产AI芯片股也同步走低，沐曦股份-U（688802.SH）午盘收跌5.11%至502.99元/股、摩 尔线程-U（688256.SH）下跌4.7%至543.19元/股、海光信息下跌2.33%至246.41元/股。港股市场上，其他 两家国产GPU（图形处理器）企业则涨跌不一，天数智芯（9903.HK）下跌0.81%至171.4港元/股、壁仞科 技则上涨0.3%至32.9港元/股。 01 2月3日，国产AI（人工智能）芯片龙头股寒武纪-U（688256.SH）股价出现大幅震荡。 消息面上，当日市场上一则传闻对寒武纪股价形成扰动，其大致内容为：寒武纪最近组织了一场小范围 交流，据传公司给出2026年营收指引为200亿元，低于市场预期的500亿元-600亿元。 此前寒武纪董秘办回复投资者热线时，接线工作人员表示："这个（股价波动原因）我们不太清楚，首先 市场上很多的传闻，肯定都是假的，然后二级市场资金、情绪的波动还是比较多的，大家理性对待。" 午间收盘后 ...

2月3日，寒武纪发布声明称，网络传播的关于其近期组织小范围交流等信息为不实信息，"公司近期从 未组织任何小范围交流，没有出具过任何年度、季度营业收入指引数据，相关信息请以公司公开披露的 信息为准。公司目前研发进展顺利，经营稳步推进。"近日，有市场传闻称，寒武纪小范围交流给出 2026年营收200亿元的估计，远低于市场300亿元~500亿元的预期。 2月3日午间，寒武纪股价盘中大幅跳水，一度跌近14%，截至午间收盘，报1082.09元/股，跌幅达 12.88%，市值蒸发近700亿元，创下自2025年9月4日以来的最大单日跌幅。不过，在辟谣公告发布后， 其当日下午股价有所回升，截至收盘，寒武纪股价报1128元/股，跌幅为9.18%，总市值为4756.6亿元。 | 寒武纪-U 000 | | | --- | --- | | 688256 割 融 沪股通 刷 | | | 1128.00 = 1257.78 市值 475.6亿 单比 | 3.38 | | 1063.00 流通 4719.0亿 换 | 5.41% | | -114.00 -9.18% 开 1255.00 市盈 TM 253.44 额 256.23亿 | ...

中国经济网北京2月3日讯 沐曦股份（688802.SH）今日收报513.78元，跌幅3.08%。沐曦股份今 日盘中股价最低至493.81元，创上市以来新低。 沐曦股份2025年12月11日发布的首次公开发行股票并在科创板上市招股说明书显示，公司拟募集 资金390,366.59万元，用于新型高性能通用GPU研发及产业化项目、新一代人工智能推理GPU研发及 产业化项目、面向前沿领域及新兴应用场景的高性能GPU技术研发项目。 (责任编辑：徐自立) 沐曦股份2025年12月17日在上交所科创板上市，发行数量为4,010.0000万股，占发行后总股本的 10.02%，全部为公开发行新股，本次发行价格为104.66元/股。沐曦股份的保荐机构（主承销商）是华 泰联合证券有限责任公司，保荐代表人是邹棉文、孙琪。 沐曦股份本次公开发行募集资金总额为419,686.60万元，扣除发行费用29,755.50万元（不含增值 税）后，募集资金净额为389,931.10万元。其中，保荐及承销费26,723.27万元。 ...

阶跃星辰在大模型研发与应用落地领域的快速发展，离不开上海完善的人工智能产业生态与国资力 量的强力支撑。今年以来，上海市人工智能企业轮番登陆资本市场，上海市政府主导的国家资本早已在 该赛道提前布局，且上海国资敢于在企业发展关键阶段扮演领投方角色，以此吸引更多社会资本入局， 形成合力共同支持硬科技企业发展。 目前，上海国资已在沪逐步构建起覆盖底层芯片算力、中间层模型工具、上层行业应用的完整AI 生态版图。 2月2日，阶跃星辰正式发布新一代开源Agent基座模型Step 3.5 Flash。该模型专为实时Agent工作流 场景打造，实现了推理速度、智能水平与使用成本的兼顾，在单请求代码类任务中，其最高推理速度可 达每秒350个token，为市场提供了"更快更强更稳"的Agent底层模型选择。 据悉，Step 3.5 Flash采用稀疏MoE架构设计，模型总计拥有1960亿参数，且每个token仅激活约110 亿个参数，在保障模型核心能力的同时，实现了推理效率的显著提升，也为Agent类应用打造了更高 效、更具性价比的底层模型方案。目前，华为昇腾、沐曦股份、壁仞科技、燧原科技、天数智芯、阿里 平头哥等多家头部芯片厂商 ...

截至2026年2月3日收盘，科创芯片设计ETF天弘(589070)换手10.23%，成交6304.25万元，市场交投活跃。跟踪的上证科创 板芯片设计主题指数(950162)强势上涨2.19%，成分股新相微上涨9.49%，芯原股份上涨9.11%，普冉股份上涨8.24%，国芯 科技，中微半导等个股跟涨。 资金流入方面，科创芯片设计ETF天弘(589070)昨日（2月2日）获资金净流入6671万元。 【产品亮点】 【更多产品】 | 么 玩星 | | | | --- | --- | --- | | 159977 | 创业板ETF天弘 | 创业板 | | 589860 | 科创综指ETF天弘 | 科创板 | | 159360 111 8 | 中证A500ETF天弘 | A股风向标 | | 159128 | 港股科技ETF天弘 | T0+港股科技 | | --- | --- | --- | | 159281 | 港股通央企红利 | T0+高股息 | | | ETF天 54 | | | 159998 | 计算机ETF | AI算力+软件 | | 159770 | 机器人ETF | 机器人 | | 159310 | 芯片ET ...

截至午间收盘，寒武纪股价报1082.09元/股，跌幅达12.88%，市值"蒸发"近700亿元，创下自2025年9月4 日以来的最大单日跌幅。 消息面上，近期市场出现几则传言。一是有消息称，寒武纪最近组织了一个小范围交流，据传给出2026 年营收指引是200亿元，而这个数字远低于市场预期。另一则传言是，平头哥（阿里巴巴旗下半导体公 司）的芯片已经出货10万片。 继有色板块回调后，芯片板块在2月3日也未能幸免，出现显著下跌。其中，国产AI芯片龙头寒武纪早 盘一度跌近14%，领跌板块。 随着2025年实现盈利，寒武纪的证券代号有望摘掉"U"标记。 从季度数据来看，2025年第三季度寒武纪营收为17.27亿元，同比增长1332.52%，净利润5.67亿元，同 比转正。但环比来看，第三季度寒武纪营收环比下降2.4%，净利润环比下降17%。 按照业绩预告计算，寒武纪去年第四季度营收预计在13.93亿元至23.93亿元之间。若按照营收预测区间 下限计算，寒武纪第四季度营收环比下降约19%。净利润方面，第四季度寒武纪预计环比下降3.9%至 56.8%。 值得注意的是，2月3日早盘，不只是寒武纪股价大跌，A股市场多只国产AI芯 ...

Group 1: Market Performance - The Asia-Pacific stock markets experienced a significant rebound, with the Nikkei 225 index closing at 54,720.66 points, marking a historical high [1] - The South Korean Composite Index rose by 6.84% to 5,288.08 points, driven by major semiconductor manufacturers Samsung Electronics and SK Hynix, with Samsung's stock surging 11%, the largest single-day increase since March 2020 [1] - In the A-share market, major indices also strengthened, with the Shanghai Composite Index up 1.29%, the Shenzhen Component Index up 2.19%, and the ChiNext Index up 1.86%, with over 4,800 stocks rising and more than 80 stocks hitting the daily limit [1] Group 2: Sector Highlights - The space photovoltaic concept stocks saw a strong rally, with companies like Guosheng Technology and Jinjing Technology hitting the daily limit, while several others also experienced significant gains [3] - The precious metals sector rebounded strongly, with Xiaocheng Technology rising over 18% and Hunan Gold hitting the daily limit, following a surge in gold prices that broke through $4,890 [3] - CPO and other computing hardware stocks performed well, with companies like Robotec hitting the daily limit and Tianfu Communication rising over 10%, both reaching historical highs [3] Group 3: Individual Stock Movements - The stock of Cambrian Technologies experienced a significant drop, initially falling over 13% before closing down 9.18%, following the company's announcement addressing recent misinformation about its operations [3] - Domestic AI chip companies reported improved performance in their main operations, but their stock prices did not reflect this, with Moer Thread closing at 554.92 yuan per share, down 2.65%, and Muxi shares falling over 3% to 513.78 yuan per share [3] - In the Hong Kong market, the Hang Seng Index turned positive in the afternoon, while the Hang Seng Tech Index narrowed its decline to 0.9%, having previously dropped over 20% from its October 2024 high, entering a technical bear market [4]

记者｜金珊 见习记者林芊蔚 编辑｜江佩霞 港股科网股回升，腾讯跌幅收窄至3%，此前一度跌超6%；百度集团跌幅收窄至4%，此前一度跌近7%；快手跌幅收窄至4.5%，此前一度跌近 8%；阿里跌幅收窄至1.22%，此前一度跌近5%。 贵金属板块强势反弹，晓程科技涨超18%，湖南黄金涨停。（详见： 黄金急升突破4890美元，A股贵金属大爆发，紫金矿业大涨6% ） CPO等算力硬件股走强，罗博特科20cm涨停，天孚通信涨超10%，股价均创历史新高。 热门个股方面，寒武纪盘中大幅跳水，一度跌超13%，截至收盘跌幅缩窄，下跌9.18%。3日中午，寒武纪发布公告称，关于公司近期组织小范 围交流等信息为不实信息，公司目前研发进展顺利，经营稳步推进。 近期，国产AI芯片上市公司业绩陆续发布，主营情况均有好转，但股价表现上却不尽如人意。摩尔线程收盘报554.92元/股，跌2.65%，沐曦股 份跌超3%，报513.78元/股。 【详情】 港股方面，午后恒生指数翻红，恒生科技指数午后跌幅收窄至0.9%，此前一度跌3.4%， 较2024年10月高点累计下跌超过20%，正式迈入技术 性熊市区间。 2月3日，亚太股市集体大反弹，日经225指 ...

Core Viewpoint - Blackstone has achieved record performance in its 40-year history, with significant capital inflows and asset management growth, indicating a robust recovery in the private equity market and a potential surge in IPO activities [2][3][4]. Group 1: Financial Performance - In Q4, Blackstone recorded a capital inflow of $71 billion, the highest in three and a half years, contributing to an annual total of approximately $240 billion [3][4]. - The total assets under management (AUM) reached about $1.27 trillion, marking a 13% year-over-year increase [2][3]. - The private wealth investment platform raised $43 billion in 2025, a 53% increase year-over-year, becoming one of the strongest fundraising segments [4]. Group 2: Investment Activities - Blackstone invested $42.2 billion in Q4, with total investments exceeding $138 billion (approximately 950 billion RMB) for the year, the highest in four years [5]. - Key investment areas included digital infrastructure, private credit, and life sciences, with notable activity in markets like India and Japan [5]. - The private equity segment raised $200 billion in Q4 and over $680 billion for the year, increasing its AUM to over $416 billion [4]. Group 3: IPO Market Dynamics - The global IPO market saw a 40% year-over-year increase in Q4, with the U.S. IPO issuance rising 2.5 times, with Blackstone being a significant contributor [7]. - Blackstone's Medline IPO in December 2025 was a landmark event, achieving a market capitalization exceeding $55 billion, marking it as the largest private equity-backed IPO in history [7][8]. - Blackstone plans to leverage the current market conditions to launch a series of long-held investments for IPO, potentially leading to one of the largest issuance years in its history [8]. Group 4: Venture Capital and Private Equity in China - The Chinese venture capital and private equity market is experiencing a revival, with 247 companies listed domestically and abroad in 2025, a 26.7% increase year-over-year [9][11]. - The Hong Kong market also saw a strong rebound, with 105 Chinese companies listed, a 69.4% increase from the previous year [9]. - The upcoming year is expected to witness a surge in IPOs in sectors like commercial aerospace and embodied intelligence, with numerous companies preparing for listings [11][12].