Core Insights - The article highlights the launch of the new flagship model GLM-5 by Zhipu, which is designed to perform complex system engineering and long-range agent tasks, showcasing state-of-the-art (SOTA) capabilities in agentic engineering, comparable to Claude Opus 4.5 [1] Group 1: Model Capabilities - GLM-5 represents a shift in the AGI industry from "Vibe Coding" to "Agentic Engineering," evolving from simple dialogue and rapid prototyping to autonomously solving real-world long-range system engineering challenges [1] - The model features significant technical advancements, including an expanded parameter scale of 744 billion and pre-training data of 28.5 trillion [1] - A new asynchronous reinforcement learning infrastructure called "Slime" has been developed to maximize the model's potential, along with the first integration of a sparse attention mechanism that reduces deployment costs while maintaining long text performance [1] Group 2: Benchmark Performance - In benchmark tests, GLM-5 achieved programming capabilities aligned with Claude Opus 4.5, scoring 77.8 and 56.2 in SWE-bench-Verified and Terminal Bench 2.0 respectively, marking the highest scores among open-source models and outperforming Gemini 3 Pro [1] - GLM-5 also demonstrates open-source SOTA agent capabilities, achieving top performance in BrowseComp (networked retrieval and information understanding), MCP-Atlas (tool invocation and multi-step task execution), and τ²-Bench (planning and execution in complex multi-tool scenarios) [2]

Core Insights - DeepSeek is evolving beyond being just a "chatbot" base and is optimizing its large model's energy efficiency through architectural innovations, as evidenced by the recent release of new models and frameworks [1][3] - The competitive landscape is intensifying, with DeepSeek's new models being crucial for maintaining its industry position against major players like Google and OpenAI [1][2] Group 1: Technological Developments - In January 2024, DeepSeek released the Engram architecture, which separates "conditional memory" from "computation," aiming to reduce errors and save computational power [3] - The new model, referred to as MODEL1, is speculated to either be a lightweight model suitable for edge devices or a "long-sequence expert" designed for processing lengthy documents or code [3] - DeepSeek's commitment to cost-effective AI solutions is evident, as it aims to lower token costs, making AI development more accessible to a broader range of developers [4] Group 2: Market Position and Competition - The release of new models is seen as essential for DeepSeek to avoid falling behind competitors like Gemini 3 and GPT-5, which have demonstrated superior performance in various benchmarks [7][8] - Despite DeepSeek's strong position in the open-source community, the company faces pressure from the rapid advancements of closed-source models, which could lead to a loss of developer loyalty [10][11] - The competitive dynamics are shifting, with major internet companies increasing their investments in AI, potentially impacting DeepSeek's market share and the overall landscape for domestic AI companies [13][14] Group 3: Ecosystem and Community Impact - DeepSeek's open-source models, such as DeepSeek-V3 and R1, have gained significant traction, accounting for over half of the open-source token throughput in a short period [8][9] - The company has established a decentralized and pragmatic technical ecosystem, attracting developers interested in self-controlled and private deployments [4][6] - The ongoing developments in the open-source AI community are reshaping the narrative around Chinese AI capabilities, with DeepSeek playing a pivotal role in this transformation [5][6]

2月12日凌晨，智谱正式开源发布新一代基座模型GLM-5，被誉为智能体工程时代最强开源模型。它宣 告大模型编程从"写代码片段"的Vibe Coding时代，正式迈入"完成系统工程"的智能体工程时代。 此前，学界与业界已达成共识，Agentic Engineering（智能体工程）时代已经到来。 智谱GLM-5有望成 为国内第一个真正对齐Anthropic Opus系列的模型厂商。 GLM-5的突破性体现在三大维度： 1. 性能对标顶级闭源模型：在权威编程基准测试中取得开源模型最高分，在真实编程场景中的体验已逼 近当前顶尖的Claude Opus 4.5，尤其在处理复杂系统工程与长周期项目上表现出色。 2. 核心技术全面升级：模型底座参数规模达744B，并创新性地采用异步强化学习框架"Slime"和稀疏注 意力机制，在提升智能的同时大幅降低了部署成本。 3. 重塑开发工作流：随模型同步推出的ZCode工具，允许开发者用自然语言描述需求，模型即可自动拆 解任务，指挥多智能体并发完成编码、调试、预览等全流程，甚至支持用手机远程指挥桌面端Agent， 将生产力无限延伸。 ...

2月12日，智谱通过官微宣布上线并开源GLM-5。目前，GLM-5已完成与华为昇腾、摩尔线程、寒武 纪、昆仑芯、沐曦、燧原、海光等算力平台的深度推理适配。即日起，GLM-5在Hugging Face与 ModelScope平台同步开源，模型权重遵循MIT License。GLM-5已经纳入Max用户套餐，Pro将尽快在5 天内支持，接下来我们将逐步扩大范围。同时，智谱也确认此前在OpenRouter市场上发布的开源模型 Pony，即为GLM-5，"在OpenRouter匿名（Pony）上线后，许多开发者使用GLM-5完成了真正能用、能 玩、能上线的应用"。 ...

大家早上好！这里是今天的早报，每天早上，我都会在这里跟你聊聊昨夜今晨发生了哪些大事儿。 昨夜今晨 【美国1月非农录得13万远超预期，市场削减美联储降息押注】 美东时间周三，美国劳工统计局公布的数据显示，美国1月非农就业人数录得13万人，大幅好于市场预期，为 此前就业增长疲弱的一年画上阶段性句号，也为新一年开局注入更强动能，一定程度缓解了外界对劳动力市场 放缓的担忧，支持美联储维持利率不变的政策路径。 具体数据显示，经季节性调整后，美国1月非农新增就业岗位13万个，远超市场预期的5.5万人，前值(12月份) 被小幅下修至4.8万人。 美国1月失业率录得4.3%，略低于市场预期的4.4%，创2025年8月以来新低。 数据公布后，现货黄金短线跳水近40美元，美元指数短线急升50点，非美货币普遍跳水，美国国债收益率也显 著走高。 【苹果据悉开发新版Siri再次遇挫，多项AI功能或推迟发布】 据媒体援引消息人士报道，苹果筹备已久的升级版Siri计划再次遇到挫折，该项目在最近几周的测试过程中遭 遇问题，可能导致多项备受期待的新功能推迟发布。 知情人士透露，苹果原计划在3月推出的iOS 26.4系统更新中加入这些新功能，但 ...

Core Insights - The anonymous model "Pony Alpha" has been revealed to be the testing version of Zhiyu's GLM-5, generating significant interest in the overseas developer community [1] - GLM-5 achieved the highest scores among current open-source models in several authoritative programming and agent benchmark tests, surpassing Gemini 3.0 Pro [1] - The model's performance is reported to be close to that of the top proprietary model, Claude Opus 4.5, indicating a strong competitive position for open-source solutions in high-end coding scenarios [1] Performance Metrics - GLM-5 scored 77.8 in SWE-bench-Verified and 56.2 in Terminal Bench 2.0, marking it as the highest scoring open-source model [1] - The model's capabilities allow it to compete directly with leading proprietary models, showcasing a significant advancement for the open-source community [1] Technical Features - GLM-5 utilizes a sparse attention mechanism derived from DeepSeek, enabling low deployment and invocation costs while providing robust system engineering capabilities [1] - This model offers an unprecedented open-source solution for developers and enterprises that require high-performance AI development assistants while prioritizing data privacy and cost control [1]

Group 1 - The State Council emphasizes the need to comprehensively promote AI technology innovation, industrial development, and application empowerment to foster new productive forces and drive high-quality development [3] - The State Council aims for a unified national electricity market system to be fully established by 2035, transitioning to unified pricing and joint trading [13] - The National Bureau of Statistics reports that China's CPI rose by 0.2% year-on-year in January, while PPI fell by 1.4%, with the data reflecting a base period adjustment [4][13] Group 2 - The automotive industry in China saw production and sales of 2.45 million and 2.346 million vehicles in January, respectively, with a slight year-on-year increase in production and a decrease in sales [13] - The banking wealth management scale decreased by 100 billion yuan in January, indicating a rebalancing of funds among deposits, wealth management, insurance, and equity assets [13] - The Hong Kong Monetary Authority is actively processing license applications for stablecoin issuers, aiming to position Hong Kong as a global innovation center for digital assets [15] Group 3 - The capital market continues a "zero tolerance" regulatory approach, with numerous penalties issued to listed companies and intermediaries for various violations, reflecting an increase in accountability and comprehensive regulation [9] - The Hong Kong IPO market has seen a rare "zero break" phenomenon, with 22 new stocks listed this year not experiencing any price drops on their first day [9] - The MSCI announced its quarterly index adjustments, including the addition of 37 stocks to the MSCI China Index, which will take effect after the market closes on February 27 [9]

Market Overview - US stock indices experienced slight declines, with the Dow Jones down 0.13%, Nasdaq down 0.16%, and S&P 500 down 0.01%. Notable tech stocks like Google and Microsoft fell over 2%, while Intel rose over 2% [4] - International oil prices rose, with WTI crude oil up 1.66% at $65.02 per barrel and Brent crude up 1.42% at $69.78 per barrel [5] - European stock indices showed mixed results, with Germany's DAX down 0.53%, France's CAC40 down 0.18%, and the UK's FTSE 100 up 1.14% [6] Employment Data - The US non-farm payrolls increased by 130,000 in January, significantly exceeding market expectations of 65,000, marking the largest increase since April 2025. The unemployment rate unexpectedly dropped to 4.3% from the expected 4.4% [4] Government Initiatives - The State Council of China emphasized the importance of AI development and its integration across various industries during a recent study session led by Premier Li Qiang [7] - The State Council issued guidelines to improve the national unified electricity market system, focusing on optimizing resource allocation and ensuring equal participation from various market players [8] Corporate Developments - Bill Gates made a return visit to China, focusing on advancements in public health and technology collaboration [15] - DeepSeek and other AI companies announced significant updates to their models, indicating advancements in AI technology [16][17] - The founder of the retail brand "胖东来" announced retirement plans, which may lead to strategic changes within the company [18] Regulatory Actions - The Beijing Consumer Association held discussions with Huazhu Group regarding unfair terms in their membership agreements, highlighting increased regulatory scrutiny in the hospitality sector [20] - The State Administration for Market Regulation released antitrust guidelines for public utilities, addressing monopolistic behaviors in sectors like water and electricity [9] Financial Announcements - Companies like 新锐股份 and 天汽模 announced plans for significant acquisitions, indicating ongoing consolidation in their respective industries [36] - Several companies reported their 2025 net profits, with notable increases for some, such as 道通科技, which saw a 45.89% rise [39]

Core Viewpoint - The company Zhiyun (2513.HK) confirmed that its new model GLM-5, previously known as "Pony Alpha," has topped the popularity chart on the global model service platform OpenRouter [1] Group 1 - The new model GLM-5 is now available on the chat.z.ai platform [1]

2月11日，智谱正式推出新一代旗舰模型GLM-5，主攻编程与智能体能力，官方称已实现开源领域最优 表现。这是继DeepSeek后，国产AI大模型春节档的又一重要发布。 GLM-5参数规模由上一代的355B扩展至744B，激活参数从32B提升至40B。智谱方面证实，此前在全球 模型服务平台OpenRouter登顶热度榜首的神秘模型"Pony Alpha"即为GLM-5。 架构配置方面，GLM-5构建78层隐藏层，集成256个专家模块，每次激活8个，激活参数约44B，稀疏度 5.9%，上下文窗口最高支持202K token。 编程能力显著提升 新一代旗舰模型GLM-5在内部Claude Code评估集中表现突出。前端、后端及长程任务等编程开发场景 下，该模型较上一代GLM-4.7实现全面超越，平均性能提升逾20%。 GLM-5能够以极少人工干预，自主完成Agentic长程规划与执行、后端重构、深度调试等复杂系统工程 任务。官方称，真实编程环境中的使用体感已逼近Claude Opus 4.5水平。 智谱将GLM-5定位为最新一代旗舰级对话、编程与智能体模型，重点强化其在复杂系统工程与长程 Agent任务中的处理能力 ...