核心是一颗专为推理优化的新芯片。 而且芯片的首位大客户已经敲定，就是刚刚完成1100亿美元巨额融资的OpenAI。 世界第一也着急，英伟达迎来架构换血！ 据悉，在即将开幕的3月圣何塞GTC大会上，黄仁勋将发布一套全新的AI推理系统—— 更引人关注的是，这款芯片的底层架构并非来自英伟达自研，而是由原Groq团队打造的LPU（语言处理单元） 架构。 这意味着：英伟达第一次在核心AI算力产品线上，大规模引入外部架构设计。 而这次"不自造"的背后，是去年那笔震动行业的交易—— 英伟达斥资约200亿美元，完成对Groq核心技术与团队的"acqui-hire"（收购式招聘）。 如今，这枚推理芯片，正是那笔投资的第一次落地。 依旧是典型的黄仁勋式策略：买成熟方案，快速部署，直接上战场，一分冤枉钱都不花。 极致的ROI。 是LPU，不是GPU 据《华尔街日报》披露，英伟达正在开发一个新的推理计算系统，该系统将结合Groq设计的芯片，并在GTC大会上正式发布。 与此同时，在OpenAI最新的融资文件中，这一计划已现端倪： 将扩大与英伟达的长期合作，包括使用3GW的dedicated inference capacity（专用推 ...

Group 1: Market Overview - The Hang Seng Index rose by 0.82% during the week of February 23-27, 2026, while the Hang Seng Technology Index fell by 1.41%[10] - The average daily trading volume in the Hong Kong stock market increased by 26.14% to HKD 186.2 billion during the same period[24] - The PE ratio of the Hang Seng Index as of February 27, 2026, was 11.38X, down by 0.82% from the previous week[16] Group 2: AI Market Insights - In February 2026, the AI model invocation volume in China surged by 127%, surpassing that of the United States for the first time[7] - Four Chinese models accounted for 85.7% of the top five models in invocation volume, indicating strong domestic performance[7] - The AI hardware infrastructure is expected to maintain high demand in 2026, benefiting companies like SMIC and Hua Hong Semiconductor[7] Group 3: Investment Recommendations - Companies with strong data, resource, and application advantages in AI, such as Tencent and Alibaba, are recommended for investment[7] - Focus on AI ecosystem companies like Kuaishou and MINIMAX, which have model or application capabilities[7] - The autonomous driving sector is highlighted as a key area for investment, with companies like XPeng Motors and NIO recommended[7] Group 4: Risks - Geopolitical risks may impact overseas revenues and competitiveness, posing a threat to stock prices[32] - Regulatory risks in the internet sector could affect industry performance and individual stocks[32] - Consumer recovery may not meet expectations, which could influence stock performance negatively[32]

2026 年 3 月 2 日 ` | 1 | + 1 = | F | | --- | --- | --- | | | CA | | | | 1 E | 1 | | 即日財經頭條 | | | --- | --- | | 信報: | | | ◼ | 美以炸死哈梅內伊 伊朗大報復 | | ◼ | 霍爾木茲海峽受阻 油價恐破百 | | 經濟日報: | | | ◼ | 中東危機 資金短綫或湧油金 | | ◼ | SpaceX 傳最快本月秘密申上市 | | 明報: | | | ◼ | 匯控：未擬分拆恒生非核心資產 | | ◼ | 「十五五」料支援 AI 量子計算太空雲端運算等 | | 星島日報: | | | ◼ | 滙控：恒生私有化重組成本用於培訓 | | 證券日報: | | | ◼ | 外資青睞中國 AI 賽道 人民幣資產吸引力持續攀 | | 升 | | | 即日港股重點消息 | | --- | | 港股昨日回顧 | | | --- | --- | | ▪ | 港股全日收報 26,630 點，升 249 點或 1%，因應 MSCI 中國指數換馬，成交總額按日升 11.3%至 | | | 2,884.2 億元 | | ▪ ...

1. Report Industry Investment Rating - No information provided in the report 2. Core Viewpoints of the Report - Due to the intensification of geopolitical risks over the weekend, with a significant increase in pre - market crude oil futures and a decline in S&P futures, it is expected that the A - share market will be affected by risk - aversion sentiment and be weak overall. The previous trading day saw an overall rise in stock indices, with cyclical stocks performing strongly, the steel sector leading the gains, and the building materials sector leading the losses. The market turnover was 2.51 trillion yuan. Starting from March, as annual and first - quarter reports of listed companies are gradually disclosed, industry leaders with strong performance certainty will attract funds, driving the market from "expectation - driven" to "profit - driven". The market will shift from "general rise" to "selecting alpha", and pure concept stocks and small - and medium - cap stocks without performance support may continue to be weak, while policy - beneficiary and performance - improving sectors may have sustainable opportunities. After the holiday, the market is expected to continue the trend of volatile upward movement, and attention should be paid to the resonance effect of policy implementation and industry catalysis. Funds are likely to continue to focus on high - growth sectors to further consolidate the market's structural trend [2] 3. Summary by Relevant Catalogs 3.1 Stock Index Futures Market - **IF Contracts**: The previous day's closing prices of IF contracts (current month, next month, next quarter, and alternate quarter) were 4713.80, 4706.40, 4673.40, and 4614.60 respectively, with price increases of 4.20, 3.40, 5.60, and 5.00, and increases of 0.09%, 0.07%, 0.12%, and 0.11%. The trading volumes were 54648.00, 3382.00, 17060.00, and 6967.00, and the positions were 146645.00, 3731.00, 87415.00, and 36704.00, with position increases of 1168.00, 639.00, 1559.00, and 1152.00 [1] - **IH Contracts**: The previous day's closing prices of IH contracts (current month, next month, next quarter, and alternate quarter) were 3045.40, 3047.00, 3041.00, and 3005.00 respectively, with price increases of 13.20, 13.60, 13.00, and 10.60, and increases of 0.44%, 0.45%, 0.43%, and 0.35%. The trading volumes were 28262.00, 2402.00, 7540.00, and 4149.00, and the positions were 59512.00, 3237.00, 29842.00, and 15530.00, with position changes of - 697.00, 748.00, 989.00, and 1676.00 [1] - **IC Contracts**: The previous day's closing prices of IC contracts (current month, next month, next quarter, and alternate quarter) were 8645.40, 8620.20, 8525.20, and 8376.20 respectively, with price increases of 111.80, 105.80, 99.00, and 75.00, and increases of 1.31%, 1.24%, 1.17%, and 0.90%. The trading volumes were 78564.00, 4621.00, 35131.00, and 11338.00, and the positions were 138970.00, 5930.00, 106016.00, and 48679.00, with position increases of 2284.00, 1431.00, 4557.00, and 583.00 [1] - **IM Contracts**: The previous day's closing prices of IM contracts (current month, next month, next quarter, and alternate quarter) were 8531.40, 8486.20, 8330.60, and 8129.40 respectively, with price increases of 89.40, 86.00, 68.40, and 54.40, and increases of 1.06%, 1.02%, 0.83%, and 0.67%. The trading volumes were 100970.00, 5141.00, 35557.00, and 14155.00, and the positions were 177180.00, 7186.00, 114120.00, and 66848.00, with position increases of 1084.00, 1503.00, 3084.00, and 2123.00 [1] - **Inter - month Spreads**: The current values of inter - month spreads for IF, IH, IC, and IM contracts were - 7.40, 1.60, - 25.20, and - 45.20 respectively, and the previous values were - 5.60, 1.80, - 22.40, and - 45.20 [1] 3.2 Stock Index Spot Market - **CSI 300 Index**: The previous value of the CSI 300 index was 4710.65, with a trading volume of 261.42 billion lots and a total trading amount of 5788.21 billion yuan. The value two days ago was 4726.87, with a trading volume of 234.85 billion lots and a total trading amount of 5998.49 billion yuan, showing a decline of 0.34% [1] - **SSE 50 Index**: The previous value of the SSE 50 index was 3039.43, with a trading volume of 43.91 billion lots and a total trading amount of 1373.65 billion yuan. The value two days ago was 3035.07, with a trading volume of 43.95 billion lots and a total trading amount of 1410.05 billion yuan, showing an increase of 0.14% [1] - **CSI 500 Index**: The previous value of the CSI 500 index was 8490.62, with a trading volume of 333.15 billion lots and a total trading amount of 5711.86 billion yuan, showing an increase of 0.83% [1] - **CSI 1000 Index**: The previous value of the CSI 1000 index was 4162.88, with a trading volume of 14495.09 billion lots and a total trading amount of 8835.26 billion yuan, showing an increase of 0.39% [1] - **Industry Indexes**: The previous values of major consumer, medical and health, real - estate and finance, and information technology industries were 20617.12, 8215.98, 6284.31, and 3410.11 respectively, with declines of 0.10%, 0.22%, 0.11%, and 0.95%. The previous values of telecommunications and public utilities industries were 5821.42 and 2420.44 respectively, with a decline of 2.73% and an increase of 0.77% [1] 3.3 Basis between Futures and Spot - The previous two - day values of the basis between IF contracts (current month, next month, next quarter, and alternate quarter) and the CSI 300 index were - 14.67, - 20.27, - 55.67, and - 112.07 respectively. The previous values of the basis between IH contracts (current month, next month, next quarter, and alternate quarter) and the SSE 50 index were 5.97, 7.57, 1.57, and - 34.43 respectively. The previous values of the basis between IC contracts (current month, next month, next quarter, and alternate quarter) and the CSI 500 index were - 13.05, - 38.25, - 133.25, and - 259.02 respectively. The previous values of the basis between IM contracts (current month, next month, next quarter, and alternate quarter) and the CSI 1000 index were - 29.44, - 74.64, - 230.24, and - 431.44 respectively [1] 3.4 Other Domestic and Overseas Indexes - The previous values of the Shanghai Composite Index, Shenzhen Component Index, Small and Medium - sized Board Index, and ChiNext Index had increases of 1.03%, 1.68%, - 0.62%, and - 0.64% respectively. The previous values of the Hang Seng Index, Nikkei 225, S&P, and DAX Index were 26630.54, 58850.27, 6878.88, and 25284.26 respectively [1] 3.5 Macro Information - On February 28, Iran's Supreme Leader Khamenei was assassinated and died. The Iranian government announced a 40 - day national mourning and will soon elect a new supreme leader. US President Trump said that military operations against Iran may last about four weeks. He also mentioned that Iran's new leadership hopes to resume negotiations, and he has agreed to hold talks. The conflict has affected the financial markets in the Middle East, with the Iranian stock market suspending trading. On March 1, the Saudi Stock Exchange's All - Share Index fell 2.18%, the Egyptian Stock Exchange's EGX30 Price Index fell 2.5%, and the stock markets in Oman and Bahrain weakened [2] - Chinese Foreign Minister Wang Yi had a phone call with Russian Foreign Minister Lavrov. Wang Yi said that under the promotion of China and Russia, the UN Security Council held an emergency meeting on the current Iranian situation. China's stance is to immediately stop military operations, return to dialogue and negotiation as soon as possible, and jointly oppose unilateral actions [2] - This week, there are many important events in the global market. Domestically, the 2026 National Two Sessions will open, discussing the government work report and the "15th Five - Year Plan"; China's February PMI, foreign exchange, and gold reserve data will be released; Alibaba's Qianwen will launch an AI glasses on March 2. Internationally, the Iranian situation is highly concerned; Russia, the US, and Ukraine will conduct a new round of negotiations; the Fed's Beige Book and February non - farm payroll report will be released; the 2026 World Mobile Congress will open; Apple will hold a new product launch on March 4. In terms of earnings reports, MiniMax, JD.com, Bilibili, etc. will release their latest results [2] - Many new - energy vehicle manufacturers released their February delivery data, and some offered purchase discounts in March. In February, Leapmotor delivered 28,067 vehicles, Li Auto delivered 26,421 vehicles, Zeekr delivered 23,867 vehicles, NIO delivered 20,797 vehicles, Xiaomi Auto delivered over 20,000 vehicles, and XPeng delivered 15,256 vehicles. NIO, Xiaomi, Leapmotor, etc. offered limited - time purchase discounts in March, including low - interest plans and purchase tax subsidies [2] 3.6 Industry Information - According to the "China Real Estate Index System Hundred - City Price Index Report (February 2026)" released by the China Index Academy, in February, the average selling price of new homes in 100 cities decreased by 0.04% month - on - month and increased by 2.37% year - on - year; the average selling price of second - hand homes decreased by 0.54% month - on - month and 8.78% year - on - year; the average rental price of ordinary homes in 50 cities decreased by 0.11% month - on - month and 3.79% year - on - year [2] - Qinghai Province issued the "Several Measures on Promoting the Large - scale Development of Concentrated Solar Power", the first provincial - level special support policy for concentrated solar power in China. Qinghai will take the lead in promoting the development of the concentrated solar power industry, guiding innovation resources to gather in concentrated solar power enterprises, and exploring the creation of flagship projects for concentrated solar power along the "Belt and Road" in Central Asia and West Asia [2] - According to the latest data from market research firm DRAMeXchange, in February, the contract price of PC DRAM (DDR4 8Gb 1Gx8) products increased by 13.04% month - on - month to $13. This is the 11th consecutive month of price increases for DDR4, and the price has more than doubled in a quarter [2]

公开数据显示，春节期间阿里千问完成近2亿次下单，其中60岁以上用户达到400万；字节豆包人 工智能总互动达到19亿次，帮助用户生成了超过5000万张新春头像和超1亿条祝福语，大模型每 分钟处理令牌数（TPM）峰值达到633亿；腾讯元宝日活跃用户超过5000万，月活跃用户达到 1.14亿，春节主会场累计抽奖次数超36亿次，完成了超10亿次人工智能创作。 马年春节，国内的科技大厂们拿起了惯用的老招数——红包大战。 目的只有一个，把自家的旗舰大模型推到神州大地上每一位普通用户面前，这场砸钱拉新的盛况， 在微博上被网民调侃为"一代人有一代人的免费鸡蛋要领"。 在马年春节各家大模型应用暴涨的日活数据背后，存在一个回 避不了的客观情况，大模型不同于点击就能使用的外卖或出行 软件，它有着非常具体的认知和操作门槛。 普通用户领完红 包、拿到应用权限后，面对界面上空白的输入框，往往不知道 该输入什么指令。 玩不转AI，领完"鸡蛋"之后，用户自然也 不会再用AI。 作者：郑晨烨 封图：图虫创意 百度文心助手宣布投入5亿元启动春节红包活动；腾讯元宝启动10亿元现金红包活动，通过社交网 络进行用户裂变；阿里千问上线了春节30亿元大免 ...

清华毕业生去哪儿？ 此前，2024年8月，华为发布2025年"勇敢新世界"应届生招聘，当时开放了软件开发工程师、硬件技术工程师等60余类岗位，拟招聘优秀应届毕业生数千 人。招聘对象为2025年1月1日至2025年12月31日毕业的国内高校本科生与研究生；2024年1月1日至2025年12月31日毕业的国内高校博士生与海外高校本硕 博学生。 智通财经查阅华为招聘相关信息显示，2024年9月24日，华为在清华大学举行2025届毕业生专场宣讲会。在华为发布的招聘会现场集锦中，有被采访清华学 子表示，"华为在科技创新方面非常有拼劲和闯劲"。同年11月30日起，华为开始陆续发放录取意向书。 此外，阿里巴巴2025届秋季校园招聘，当时也表示计划发出超6000个offer，包含阿里巴巴控股集团、淘天、阿里云、阿里国际、通义实验室、智能信息、 钉钉、高德等在内的阿里巴巴旗下15个业务集团和公司同时开启秋招。 智联招聘数据显示，2025年春招和秋招中，技术类岗位成为绝对主力。阿里巴巴开放的数千个岗位中，AI类占比近半；美团5000个校招名额中，60%明确 要求"AI产研人才"和"数字化零售人才"。数据显示，人工智能工程师岗位求 ...

henry 发自 凹非寺 量子位 | 公众号 QbitAI 世界第一也着急，英伟达迎来架构换血！ 据悉，在即将开幕的3月圣何塞GTC大会上，黄仁勋将发布一套全新的AI推理系统—— 核心是一颗 专为推理优化 的新芯片。 而且芯片的首位大客户已经敲定，就是刚刚完成1100亿美元巨额融资的OpenAI。 这意味着： 英伟达第一次在核心AI算力产品线上，大规模引入外部架构设计。 而这次"不自造"的背后，是去年那笔震动行业的交易—— 英伟达斥资约200亿美元，完成对Groq核心技术与团队的"acqui-hire"（收购式招聘）。 如今，这枚推理芯片，正是那笔投资的第一次落地。 依旧是典型的黄仁勋式策略：买成熟方案，快速部署，直接上战场，一分冤枉钱都不花。 极致的ROI。 是LPU，不是GPU 更引人关注的是，这款芯片的底层架构并非来自英伟达自研，而是由原 Groq 团队打造的LPU（语言处理单元） 架构。 据《华尔街日报》披露，英伟达正在开发一个新的推理计算系统，该系统将结合Groq设计的芯片，并在GTC大会上正式发布。 与此同时，在OpenAI最新的融资文件中，这一计划已现端倪： 将扩大与英伟达的长期合作，包括使用3 ...

行业定期报告 hyzqdatemark 2026 年 03 月 02 日 证券分析师 陈良栋 SAC：S1350524100003 chenliangdong@huayuanstock.com 陈逸凡 SAC：S1350525040003 chenyifan@huayuanstock.com 周政宇 SAC：S1350525050006 zhouzhengyu@huayuanstock.com 许孟婕 SAC：S1350525120004 xumengjie@huayuanstock.com 联系人 证券研究报告 传媒 魏桢 weizhen@huayuanstock.com 板块表现： 完美世界《异环》提档，Nano Banana2 发布 投资评级： 看好（维持） ——传媒互联网行业周报（2026.2.23-2026.2.27） 投资要点： 本周观点：【完美世界】超自然都市开放世界 RPG《异环》定档，将于国内 2026 年 4 月 23 日/海外 2026 年 4 月 29 日 PC/移动/主机三端上线，《异环》一定程 度实现 GTA 式开放世界×二游框架创新融合，题材新颖、副玩法类型多样、角 色羁绊互动深 ...

· 国都港股操作导航 | 海外市场重要指数 | 收市 | 幅度 | | --- | --- | --- | | 道琼斯工业指数 | 48977.92 | -1.05 | | 标普 500 指数 | 6878.88 | -0.43 | | 纳斯达克综合指数 | 22668.21 | -0.92 | | 英国富时 100 指数 | 10910.55 | 0.59 | | 德国 DAX 指数 | 25284.26 | -0.02 | | 日经 225 指数 | 58850.27 | 0.16 | | 台湾加权指数 | 35414.49 | 0 | | 内地股市 | | | | 上证指数 | 4162.88 | 0.39 | | 深证成指 | 14495.09 | -0.06 | | 香港股市 | | | | 恒生指数 | 26630.54 | 0.95 | | 国企指数 | 8859.49 | 0.51 | | 红筹指数 | 4439.65 | 0.63 | | 恒生科技指数 | 5137.84 | 0.56 | | AH 股溢价指数 | 118.17 | -0.54 | | 恒生期货 (3 月) | 26465 ...

在2026年国际固态电路大会（ISSCC 2026）上，清华大学、华为等联合发布的基于HYDAR框架的28nm混合存内计算（CiR）芯片，以RRAM为核心载 体，通过DL-ADC早期终止、PPSP调度流水线等核心优化，实现了高吞吐、高能效与高精度的平衡，其单芯片390K QPS吞吐率、1574K QPS/W能效比， 以及多芯片扩展后66倍QPS提升的性能表现，为推荐系统算力瓶颈突破提供了全新解决方案。 相较于传统DRAM、NAND TCAM加速器的固有缺陷，该芯片的技术突破不仅补齐了行业短板，更精准契合当下数字经济对高效算力的核心需求，具备 广阔的市场落地空间与行业赋能价值。 | 精准匹配高算力需求领域 推荐系统作为连接用户与海量内容的核心枢纽，已深度渗透至电商、流媒体、社交、广告等关键领域，而相似向量检索（SVS）的效率直接决定推荐体验 与运营成本，这也是CiR芯片的核心落地场景。结合芯片性能优势与行业需求，其市场应用可聚焦三大核心领域，且均具备极强的落地可行性。 破解大规模推荐算力瓶颈 当前互联网平台正面临用户规模激增、内容体量爆炸式增长的挑战，以电商、短视频、直播平台为代表，需在毫秒级响应时间内，从数十 ...