9月23日，2025量子投资峰会在北京中关村创业大厦举行。峰会以"资本导航，点'量'下一站"为主题， 汇聚国内顶尖投资机构、量子领域领军企业与权威专家，从政策导向、行业研判、案例标杆到生态共 创，全方位助力与会者把握量子科技投资脉络、打开跨界合作新窗口。 与会专家认为，全球量子科技正加速从实验室迈向产业化，技术突破与资本赋能有望成为推动行业发展 的"双引擎"。量子计算是被寄予厚望的下一代算力解决方案，该领域投融资呈现出资本向头部企业集 中、专用与通用量子计算的战略权衡、纯算法公司的战略价值及投资逻辑的垂直化四大特点。 量子产业发展已达关键节点 多家创业公司在峰会上透露产业最新进展情况。华翊量子总经理姚麟介绍了离子阱量子计算优势与劣 势、技术发展及商业化进展。他表示，目前，量子计算在金融、生物、化学等领域的应用已取得显著进 展。他指出，华翊量子系统已在实验中取得重要成果，证明其具备实现NISQ时代量子计算算法的能 力，为近中期商业化提供了技术储备。 相干科技创始人金贻荣宣称，公司正在搭建其第一台量子计算机，有望在明年春季正式发布。他认为， 降低量子计算机的成本、降低量子算力的成本是未来量子计算发展的关键。两仪万 ...

智通财经APP获悉，周二，美股量子计算概念股盘初走强，盟云全息(HOLO.US)大涨超13%，Rigetti Computing(RGTI.US)、昆腾(QMCO.US)涨超8%，IonQ Inc(IONQ.US)、Quantum Computing(QUBT.US) 涨超4%。消息面上，有媒体援引一份声明称，盟云全息提出了一种控制量子光子态的创新解决方案， 这可能在量子光学中具有重要应用。 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自 technews 。 人工智能（AI）运算能力的军备竞赛持续升温，全球基础设施投资正迎来史上最大规模的浪潮。 然而，AI 产业在处理器之间数据移动方面，正遭遇「一堵根本性的高墙」。因为现有采用铜线的 互连技术，已无法有效扩展，进一步服务新世代AI 所需的数百万个处理器。在此背景下，光子芯 片（Photonic Chips）新创公司Celestial AIAI 和OpenLight 正迅速崛起，提供更快速、功耗更低 的解决方案，以满足亚马逊、微软和Google 等超大规模（hyperscaler）客户的需求。 Celestial AI有台积电与三星投资， 锁定伺服器纵向扩展市场 为应对市场对下一代AI 基础设施飙升的需求，光子芯片新创公司获得了强大的资金支持并深化了 与代工伙伴的合作。其中，Celestial AI 在2025 年8 月份获得了来自台积电相关的VentureTech Alliance 和三星Catalyst Fund 的2.55 亿美元投资，使其总募资金额达到5.2 亿美元。 Celestial AI计划利用这笔新资金加强其供应链，并深化 ...

数据显示，包括微软、亚马逊和Meta在内的科技巨头将在下个十年初将AI年度支出提升至5000亿美元 以上。OpenAI和中国DeepSeek等公司新模型的发布进一步刺激了对AI服务的需求，推动整个行业加大 投资力度。 在AI公司竞相宣布数千亿美元数据中心投资计划的背后，一个更为严峻的问题正在浮现——如何产生 足够收入来覆盖这些巨额支出。 近日，全球知名咨询公司贝恩咨询警告称，人工智能行业正面临一个前所未有的收入缺口危机。该公司 最新发布的年度全球技术报告预测，到2030年AI公司将需要2万亿美元的年收入来支撑预期的计算需 求，但实际收入可能短缺8000亿美元。 这一巨大缺口源于AI服务变现能力远未跟上数据中心和相关基础设施的支出需求。以ChatGPT为代表的 AI服务虽然用户增长迅速，但盈利模式仍不明朗，而OpenAI等头部公司每年亏损数十亿美元。 贝恩全球技术实践主席David Crawford表示："如果当前的扩展规律持续，AI将日益拉紧全球供应 链。"该报告预测，全球AI算力需求到2030年可能激增至200吉瓦，其中美国占据一半份额。 这一预警进一步加剧了市场对AI行业估值和商业模式可持续性的质疑。尽管 ...

Core Insights - AI companies are facing a significant revenue shortfall, with Bain's report indicating a potential gap of $800 billion by 2030 due to slow monetization of services like ChatGPT compared to the required investment in data centers [1][2] - The global demand for AI computing power is projected to surge to 200 GW by 2030, with the U.S. expected to account for half of this demand [3] - Major tech companies are set to increase their annual AI spending to over $500 billion in the early part of this decade, driven by the demand for AI services [2] Group 1: AI Industry Financial Outlook - By 2030, AI companies will need a total annual revenue of $2 trillion to support the anticipated demand for computing power [1] - OpenAI is currently operating at a significant loss, with expectations of achieving positive cash flow by 2029 [2] - The slow pace of revenue generation in the AI sector raises concerns about the sustainability of current business models [1][2] Group 2: Technological Developments and Investments - Leading AI companies are investing heavily in product development, particularly in autonomous AI agents capable of performing multi-step tasks [3] - Companies are expected to allocate up to 10% of their technology budgets to develop core AI capabilities, including agent platforms, over the next three to five years [3] - Quantum computing is anticipated to unlock $250 billion in market value across various industries, although its adoption will be gradual [4] Group 3: Robotics and Ecosystem Maturity - Humanoid robots are attracting significant investment but remain in early deployment stages, heavily reliant on human oversight [5] - The success of robotic technologies will depend on the maturity of the ecosystem, with early pilot projects likely to lead the industry [5]

Group 1 - OpenAI and other AI companies are facing a significant revenue gap, with Bain predicting a shortfall of $800 billion by 2030, as they need to generate $2 trillion annually to support their infrastructure investments [1] - The demand for AI services is increasing, but the cost-saving effects and revenue generation capabilities from AI have not kept pace with the rising costs of data centers and energy [1] - Major tech companies like Microsoft, Amazon, and Meta are expected to increase their annual spending on AI to over $500 billion by 2030, driven by the launch of new models and increased market demand [2] Group 2 - The global demand for AI computing power is projected to reach 200 gigawatts (GW) by 2030, with the United States accounting for half of this demand [2] - Companies are expected to allocate up to 10% of their tech spending on building core AI capabilities, including autonomous AI agents, over the next 3 to 5 years [2] - Quantum computing is anticipated to create a market value of $250 billion across various industries, although its development will be gradual rather than breakthrough [2][3] Group 3 - Humanoid robots are attracting significant investment and are in the early stages of deployment, with their commercial success dependent on the maturity of the ecosystem [3] - Early adopters of robotic pilot projects are likely to gain a competitive advantage in the industry [3]

国产芯片：智算需求强劲，性能生态再进阶 20250922 摘要 华为发布 AI 芯片蓝图，计划在未来三年内实现算力翻倍，并推出 950P2、960 和 970 等系列芯片，分别达到 1P、2P 和 4P FLOPS，旨 在通过超节点集成提升集群能力，缩小与英伟达在单卡算力上的差距。 全球算力需求快速扩张，科技巨头纷纷构建大规模算力集群，国内 Tokens 日消耗量呈指数级增长，机器人和智能驾驶等领域对底层计算 能力的需求也显著提升，预示着算力市场巨大的发展潜力。 国产智算芯片在先进制程和架构创新方面取得突破，中芯国际 14 纳米 良率超 95%，7 纳米稳步推进，华为升腾 910C 采用 7 纳米 EUV 工艺 提升 FP16 算力，寒武纪等厂商推出具有竞争力的新产品，推动国产智 算芯片市场繁荣。 国产芯片在单卡性能上逐步接近英伟达，但综合生态系统仍有差距。华 为通过硬件变现和软件开源，对标 CUDA 生态系统，旨在构建更具竞争 力的 AI 生态，但 CUDA 的兼容性仍是国产厂商面临的重要挑战。 中国 AI 市场规模预计达 500 亿美元，国产芯片有望占据一半以上市场 份额，整体体量或达 2000 亿人民币 ...

Group 1 - Goldman Sachs raised the S&P 500 index target from 6600 to 6800 points, citing a dovish stance from the Federal Reserve and strong corporate earnings as key reasons [1][2] - Other investment banks also increased their S&P 500 targets, with Deutsche Bank predicting 7000 points by 2025 and Wells Fargo estimating 6650 points by year-end [1][2] - The strong performance of U.S. equities is attributed to the Fed's interest rate cuts, which are expected to continue in the coming months [3] Group 2 - Demand for AI has significantly boosted traditional storage companies, with Seagate and Western Digital seeing stock price increases of 156% and 137% respectively [4][5] - Analysts caution that the surge in these stocks may be overhyped, as they have surpassed Wall Street's average target prices, suggesting a potential for profit-taking [4][5] - The AI-driven demand for storage and memory solutions is expected to continue, but investors should remain cautious of market volatility and potential overvaluation [5] Group 3 - Morgan Stanley's report highlights the strong performance of the MSCI China Index, which has returned 48% over the past year, driven by structural improvements and stable corporate earnings [6][7] - The report emphasizes the recovery of return on equity (ROE) and increased investment in high-quality large-cap stocks, indicating a healthier market structure [6][7] - Core sectors such as internet, technology, and pharmaceuticals are expected to see continued earnings upgrades, supporting a positive outlook for the Chinese stock market [6][7] Group 4 - The UK and US have signed a "Technology Prosperity Agreement" to advance quantum technology, with significant investments aimed at developing AI and quantum computing [8][9] - NVIDIA has made substantial investments in quantum computing companies, reflecting a growing interest in this sector [8][9] - The rise of quantum computing stocks is driven by increasing government and corporate investments, as well as the demand for advanced computing capabilities [9][10]

Group 1 - The article highlights that the U.S. tariff policy is effectively a tax on American consumers and does not significantly revitalize U.S. manufacturing, which is unlikely to return in the short term due to the country's focus on high-tech and service industries [1] - Chinese companies, particularly in Guangdong and Fujian, have demonstrated remarkable adaptability in response to U.S. tariffs by expanding cooperation with businesses in other countries, showcasing their resilience and strategic business adjustments [1] - Despite the challenges posed by U.S. tariffs, China's industrial chain exhibits strong adaptability, and the country has become more confident in its diplomatic stance and resilient in its economic performance [1] Group 2 - China possesses unique institutional advantages and a robust policy support system that provide a solid foundation for gaining an active role in the new technological revolution and industrial transformation [2] - The country is driving development through technological innovation, achieving significant advancements in fields such as advanced manufacturing, robotics, artificial intelligence, and renewable energy [2] - The upgrading of China's industrial structure injects new momentum into high-quality economic development and enhances the complementary nature of its industrial landscape with ASEAN countries, facilitated by agreements like the RCEP [2] Group 3 - Long-term strategic planning and efficient execution in key technology areas will be crucial for China's continued ascent in the global industrial landscape [3] - Modernizing national governance requires maintaining high execution efficiency while improving feedback mechanisms and clearly communicating China's position to the world to avoid misunderstandings [3] - There is a growing trend among international mainstream media to adopt a more balanced perspective on China, reflecting the country's increasing national strength and fostering better international understanding [3]

Core Insights - The financial sector is significantly supporting technological innovation, with an average annual growth of 27.2% in scientific and technological loans, and over 90% of newly listed companies being tech firms [1][2] - During the "14th Five-Year Plan" period, high-tech enterprise loans and loans to tech SMEs have both exceeded a 20% annual growth rate, indicating a robust financial backing for the tech sector [2][3] Financial Support Mechanisms - The People's Bank of China has emphasized the need to enhance the financial support framework for technology innovation, addressing the diverse financing needs of tech companies at different life cycle stages [2][3] - A series of financial measures have been implemented, including the introduction of a "technology board" in the bond market and 15 initiatives to accelerate the construction of a technology finance system [2][3] Market Dynamics - The number of technology companies among the top 50 by market capitalization in A-shares has increased from 18 at the end of the "13th Five-Year Plan" to 24 currently, reflecting a growing prominence of tech firms in the market [2][3] - Insurance funds have invested over 5.4 trillion yuan in stocks and equity funds, an 85% increase since the end of the "13th Five-Year Plan," contributing to the stability and healthy development of the capital market [3][4] Policy Enhancements - The China Securities Regulatory Commission is focusing on reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market to better support innovative companies through capital market mechanisms [4] - The State Administration of Foreign Exchange is promoting policies to facilitate cross-border financing for high-tech enterprises, enhancing their ability to leverage both domestic and international resources [3][4]