2025.11. 21 本文字数：1896，阅读时长大约3分钟 作者 | 第一财经 刘晓洁 当地时间11月20日，在用Gemini 3"屠榜"大模型圈后，谷歌又甩出了另一张王牌Nano Banana Pro （Gemini 3 Pro图像），在海内外社交媒体上网友已经玩疯了，从众多一手测试来看这款模型进步 依然很大。 Google DeepMind & @GoogleDeepMind X.com We just dropped Nano Banana Pro, built on Gemini 3. 0 With state-of-the-art text rendering, vast world knowledge and studio-quality creative controls, Gemini 3 Pro Image can create and edit more complex visuals, infographics and more. Here's what's under the hood. 由 Google 翻译自英语 我们刚刚发布了基于 Gemini 3 构建的 Nano Bana ...

这样的投资成绩也迎来真金白银的认可。最新消息显示，在本月完成逾10亿人民币的募资后，Two Sigma在华机构——腾胜投资管理(上海)有限公司的资管规模正式超过100亿关口。 吴舰于2018年4月加入顶尖量化对冲基金Two Sigma，从量化研究员做起，三年时间不到就升任Two Sigma量化研究部的副总裁，2023年1月，工作不到五年的吴舰被提拔为高级副总裁。 知情人士透露，约四分之三的新募集资金将进入前述中证500策略基金，剩余25%将进入另一只宏观策 略基金。该宏观基金今年前9个月的回报为11.6%，从2020年启动以来的累计回报达到119.9%。 吴舰2023年曾在小红书"悄悄炫富"，并称"不敢发朋友圈，自己心态还是太年轻，想找个没人认识的地 方偷偷炫耀下......"。该帖子显示，其2022年的薪资相较往年出现暴涨，高达2350万美元(约合人民币 1.67亿元)。 据蓝鲸新闻此前报道，桥水基金于2019年在中国推出全天候增强型基金，成立以来每年都能录得正收 益。其中2024年的收益率达到37%，跻身全球对冲基金前十。稳定的超额表现，也使得桥水基金近两年 愈发抢手，甚至需要"配货"才能分到些许额度。桥 ...

Core Points - The European Union (EU) is implementing a new digital border management system for non-EU citizens entering the Schengen Area, starting from October 12, aimed at enhancing border management and information sharing, as well as combating identity fraud and illegal immigration [1][2] - The system will cover 29 Schengen countries and is set to be fully operational by April 10, 2026, with a subsequent phase introducing the European Travel Information and Authorization System for pre-screening travelers [2][3] - The digital border management initiative represents not just a technological upgrade but a shift in governance philosophy, aiming to balance security and convenience while promoting cross-border public services [3] Summary by Sections Digital Border Management System - Non-EU citizens must electronically register upon first entry into the Schengen Area, providing passport information and biometric data such as fingerprints and facial images [1] - Data can be submitted in advance via an app or self-service terminal to expedite border checks, with facial verification required at internal Schengen borders [1] Implementation Timeline and Features - The first phase of the digital border management system is part of a broader EU plan, with the next phase focusing on pre-screening travelers who currently enjoy visa-free access [2] - Travelers will fill out personal information and security questionnaires online before departure, with automatic cross-referencing against databases for risk assessment [2] Impact on Travel and Security - The installation of automated gates and facial recognition technology at Brussels Airport indicates readiness for the new system, which is expected to reduce wait times significantly for travelers [2] - The digitalization of border checks is anticipated to lead to faster passenger processing and lower operational costs for airlines and tourism operators [2]

Market Review - Spot gold prices have surpassed $3840 per ounce, reaching a new high [6] - On September 29, US major stock indices experienced slight gains, with the Dow Jones up 0.15% at 46316.07 points, S&P 500 up 0.26% at 6661.21 points, and Nasdaq up 0.48% at 22591.15 points [6] - European stock indices also saw minor increases, with Germany's DAX up 0.02% at 23745.06 points, France's CAC40 up 0.13% at 7880.87 points, and the UK's FTSE 100 up 0.16% at 9299.84 points [6] International Macro - US President Trump met with congressional leaders on September 29 to discuss avoiding a government shutdown, with significant disagreements noted by Senate Democratic leader Chuck Schumer [7] - The US federal government is set to run out of funding by midnight on September 30, risking a government shutdown if no agreement is reached on funding legislation [7] - The Bureau of Labor Statistics (BLS) has announced that it will halt data collection and not release planned reports, including the monthly non-farm payroll report, if funding is interrupted [7] Corporate News - On September 29, DeepSeek-V3.2-Exp model was officially released and open-sourced on the Hugging Face platform, introducing a sparse attention mechanism for improved efficiency in training and inference of long texts [8] - OpenAI plans to release the new Sora 2 video generator as a standalone application, which may generate videos containing copyrighted content unless rights holders opt out [8] Institutional Views - Goldman Sachs analysts predict that global stock markets are likely to continue rising until the end of the year, supported by strong US economic performance and favorable stock valuations [9] - The team led by Christian Mueller-Glissmann has upgraded the global stock market allocation rating to "overweight" for the next three months, suggesting that stocks typically perform well in the later stages of economic slowdown with strong policy support [9]

Core Insights - Alibaba has launched Qwen3-Max, the largest and most powerful model to date [1] - The preview version of Qwen3-Max-Instruct ranks third on the LMArena text leaderboard, surpassing GPT-5-Chat [1] - The official version has enhanced capabilities in coding and agent functions, achieving industry-leading performance across comprehensive benchmark tests in knowledge, reasoning, programming, instruction adherence, human preference alignment, agent tasks, and multilingual understanding [1]

Group 1 - DeepSeek officially announced the release of version 3.1 on August 21, featuring significant upgrades including a hybrid reasoning architecture and improved response efficiency [1] - The new version utilizes UE8M0FP8Scale parameter precision and has made substantial adjustments to the tokenizer and chat template, showing clear differences from version 3 [1] - DeepSeek has adjusted its pricing for API interface calls, with input prices increasing to 0.5 yuan per million tokens for cache hits and 4 yuan for cache misses, while output prices rose to 12 yuan per million tokens [2] Group 2 - The foundational model of DeepSeek V3.1 underwent extensive retraining, adding a total of 840 billion tokens, and both the foundational and post-training models are available on Huggingface and Modao [4] - Following the announcement, shares of Daily Interactive (300766) surged, closing at 47.98 yuan per share with a daily increase of 13.62% [4] - Daily Interactive, established in 2010, provides data intelligence products and services, and there were rumors of its ownership stake in DeepSeek through its subsidiary, although the company later clarified it does not hold any equity in DeepSeek or its associated companies [7]

Group 1 - The core event is the ongoing AI chess tournament where models like Gemini 2.5 Pro, Grok 4, o3, and o4-mini are competing, with Grok 4 and o3 advancing to the finals after intense matches [2][5][31] - Grok 4 faced a challenging match against Gemini 2.5 Pro, resulting in a tie that was only resolved through a special tiebreaker, showcasing the competitive nature of the tournament [16][25][28] - o3 demonstrated exceptional performance, achieving a perfect accuracy score of 100 in one of its matches, indicating its strong reasoning capabilities [10][12] Group 2 - The tournament's structure includes initial rounds where models like o4-mini and o3 both achieved 4-0 victories, highlighting their dominance in the early stages [7][31] - The matches have been characterized by a mix of expected outcomes and surprising twists, particularly in the close contest between Grok 4 and Gemini 2.5 Pro [16][24] - The final match will feature Grok 4 against o3, with predictions favoring Gemini 2.5 Pro and Grok 4 as potential winners based on public voting [31][32]

Core Insights - Amazon Web Services (AWS) has launched Anthropic's latest models, Claude Opus 4.1 and Claude Sonnet 4, on Amazon Bedrock, enhancing AI capabilities for complex tasks [1] Model Performance - Claude Opus 4.1 demonstrates superior performance in agentic coding, achieving a SWE-bench verified score of 74.5% and excelling in long-term task handling and complex problem-solving [2] - Claude Sonnet 4 shows improved efficiency over its predecessor, Claude Sonnet 3.7, with notable advancements in coding and reasoning capabilities [2] Features and Capabilities - Both models support a context window of 200,000 tokens, allowing users to manage and generate extensive content while maintaining quality and coherence [2] - Claude Opus 4.1 is positioned as Anthropic's most intelligent model to date, capable of replacing Opus 4, while Claude Sonnet 4 is optimized for high-volume applications [2]

Core Insights - The article introduces a new reasoning model named Qwen3-30B-A3B-Thinking-2507, which is described as more intelligent, agile, and versatile compared to its predecessor Qwen3-30-A3B released on April 29 [1] - The new model shows significant improvements in reasoning capabilities, general capabilities, and context length [1] - Qwen3-30B-A3B-Thinking-2507 is now open-sourced on the Modao community and HuggingFace platforms [1]

Core Viewpoint - The article highlights the rapid advancements and performance improvements of the Qwen3-30B-A3B-Instruct-2507 model, emphasizing its capabilities in reasoning, long text processing, and overall utility compared to previous models [2][4][7]. Model Performance Enhancements - The new model Qwen3-30B-A3B-Instruct-2507 shows significant improvements in reasoning ability (AIME25) by 183.8% and capability (Arena-Hard v2) by 178.2% compared to its predecessor [4]. - The long text processing capability has been enhanced from 128K to 256K, allowing for better handling of extensive documents [4][11]. - The model demonstrates superior performance in multi-language knowledge coverage, text quality for subjective and open tasks, code generation, mathematical calculations, and tool usage [5][7]. Model Characteristics - Qwen3-30B-A3B-Instruct-2507 operates entirely in a non-thinking mode, focusing on stable output and consistency, making it suitable for complex human-machine interaction applications [7]. - The model's architecture supports a context window of 256K, enabling it to retain and understand large amounts of input information while maintaining semantic coherence [11]. Model Series Overview - The Qwen series has released multiple models in a short time, showcasing a variety of configurations and capabilities tailored for different scenarios and hardware resources [12][18]. - The naming convention of the models is straightforward, reflecting their parameters and versions, which aids in understanding their specifications [14][17]. Conclusion - The Qwen3 series is positioned as a comprehensive model matrix, catering to diverse needs from research to application, and is ready to address various demands in the AI landscape [19].