Core Viewpoint - Chinese tech shares are experiencing significant growth driven by advancements in various sectors, including AI, robotics, and flying cars, with notable performance in January 2026 [1][18]. Group 1: Market Performance - An onshore Nasdaq-like tech gauge has increased by almost 13% this month, while Hong Kong-listed Chinese tech firms have risen nearly 6%, both outperforming the Nasdaq 100 [1][18]. - The combined market value of 33 Chinese AI stocks tracked by Jefferies Financial Group has expanded by approximately $732 billion over the past year, with China's AI market capitalization representing only 6.5% of the US's [9][18]. Group 2: Technological Advancements - Enthusiasm for homegrown technologies has been the primary driver of China's equities bull run since April, despite challenges in the housing market and weak consumption [2][18]. - The rollout of a new AI model by DeepSeek and the unveiling of a five-year economic blueprint focusing on technological self-reliance are expected to further support market momentum [2][15][18]. - Chinese firms are accelerating efforts to develop AI models following DeepSeek's success, with generative AI adoption surging among major internet companies like Alibaba and Tencent [5][6][18]. Group 3: Investment Sentiment - Investors are optimistic about the technology sector's prospects due to China's low-cost base and strong state support, with expectations that the release of DeepSeek's R2 model could disrupt the sector again [14][18]. - Recent listing debuts of Chinese AI-related companies have shown significant gains, encouraging more firms to enter public markets [10][18]. - Analysts predict that the next major breakthrough in AI will occur at the application layer, with China well-positioned to lead this evolution due to its diverse user cases [11][18]. Group 4: Valuation Concerns - The rapid rally in tech stocks has raised concerns about stretched valuations, with some companies trading at high multiples, such as Cambricon Technologies at about 120 times forward earnings [13][18]. - Beijing's decision to tighten margin financing indicates growing unease with speculative excess in the technology sector [13][18].

Company Update - Neuralink 公司，由 Elon Musk 创立的脑植入公司，已向期刊提交了一篇科学论文，描述了其部分患者的实验结果 [1]

7 月 24 日消息，据彭博社报道，埃隆・马斯克的脑机接口公司 Neuralink Corp. 计划到 2031 年每年将其芯片植入 2 万人，创造至少 10 亿美元（IT之家注：现汇率约合 71.6 亿元人民币）的年收入。 根据文件，Neuralink 预计到 2029 年将在美国获得其 Telepathy 设备的监管批准，并计划每年进行 2000 例手术， 实现至少 1 亿美元（现汇率约合 7.16 亿元人民币）的年收入。到 2030 年，公司计划推出恢复视力的芯片 Blindsight，手术量扩大至每年 1 万例，年收入超过 5 亿美元（现汇率约合 35.8 亿元人民币）。文件显示，这些数 字是基于"每例手术保守估计 5 万美元（现汇率约合 35.8 万元人民币）的报销费用"计算得出的。 据 PitchBook 称，Neuralink 已从投资者处筹集了 13 亿美元（现汇率约合 93.08 亿元人民币）资金，目前估值达到 90 亿美元（现汇率约合 644.43 亿元人民币）。 近年来，像 Neuralink 这样的脑机接口公司因其潜在的医疗应用而受到广泛关注和大量投资。然而，目前尚无脑机 接口设备获得 ...

Core Viewpoint - Vivani Medical, Inc. plans to spin off its subsidiary Cortigent, Inc. into an independent publicly traded company on Nasdaq by the third quarter of 2025, aiming to enhance value for both Vivani and Cortigent stockholders [1][3][6] Company Developments - Cortigent is developing the Orion Visual Cortical Prosthesis System to provide visual perception for the blind and a Stroke Recovery System to aid recovery of arm and hand movement post-stroke [1][8] - The Orion system has received FDA Breakthrough Device designation and completed a six-year Early Feasibility Study with promising results [2][8] - Cortigent's previous product, the Argus II, was the first FDA-authorized artificial vision device, successfully implanted in hundreds of patients [2][8] Strategic Focus - The spin-off will allow Vivani to concentrate on its proprietary NanoPortal drug implant technology, specifically for chronic weight management and type 2 diabetes [1][2][3] - Vivani's lead program includes a six-month subdermal GLP-1 implant for chronic weight management, with additional products in development for type 2 diabetes [9][11] Financial and Operational Structure - The spin-off is expected to provide clearer visibility into the financial and operational structures of both companies, enhancing understanding of their respective strategies and risks [5][10] - The transaction is subject to various conditions, including board approval and SEC and Nasdaq compliance [6] Management and Leadership - Cortigent's CEO, Jonathan Adams, has extensive experience in the biopharmaceutical field and aims to accelerate the development of Cortigent's technologies post-spin-off [2][8]

Group 1 - Neuralink Corp., led by Elon Musk, plans to launch its first clinical trial in the Middle East [1] - The trial will focus on how individuals with movement and speech disorders can use thought to control devices and communicate [1] - The company will collaborate with the Abu Dhabi Department of Health and conduct the trial at the Cleveland Clinic Abu Dhabi [1] Group 2 - Neuralink has already implanted the device in three patients and is seeking more patients globally to expand the trial [1]