Technology & Security - The industry is highly interested in Zero-Knowledge (ZK) technology [1] - The ultimate barbell strategy in 2025 involves personal AGI chaos and public ZK security [1]

RT Justin Murphy (@jmrphy)Claude Code is personal AGI. You can't use this thing for more than a weekend without realizing it's completely over. At first you make a GUI app, OK cool. Then you're like wait, GUIs are a waste of time, let's just make a terminal app. Then you're like wait APPS are a drag, what if I just ask Claude Code to do the thing directly? Works immediately. Then you're like damn, now asking Claude Code to do stuff feels like a drag, can I... have Claude make a system that says this stuff f ...

作为技术驱动型公司，倍通数智的研发投入强度远超行业平均水平。2023年研发费用达4500万元，占收 入18.7%；2024年虽回落至3690万元，占比仍达15.2%。 然而，高投入并未转化为坚实的知识产权壁垒。截至2025年6月，公司仅拥有11项发明专利和170项软件 著作权，且半数专利集中于数据清洗规则领域，现有技术门槛易被模仿。招股书坦言，若新技术出现导 致其规则库贬值，研发成本可能无法收回。 这一短板在市场竞争中尤为致命。按2024年收入计，倍通数智在医药及医疗器械企业第三方渠道数字化 服务市场中排名第二，但市占率仅略高于后续玩家。其首创的渠道数据直连（DDI）解决方案虽具备先 发优势，但在医渡科技等上市公司加速技术迭代的背景下，公司需持续证明其数据平台能应对AGI等新 兴技术冲击。 数据合规高压线与治理结构风险 2025年12月2日，中国领先的医疗健康行业数据赋能商——倍通数智开曼控股有限公司正式向港交所递 交招股书，拟主板挂牌上市，建银国际担任独家保荐人。 此次IPO若成功，倍通数智有望成为继医渡科技、医脉通之后又一登陆港股的医疗数字化服务商。然 而，在其细分市场龙头光环之下，业务结构单一、技术护城 ...

1. Report Industry Investment Rating - Morgan Stanley upgraded China stocks to "Overweight" [2] 2. Core Viewpoints - The main indices of the two markets fluctuated and declined on Tuesday, with some short - term profit - taking funds exiting. In the future, the capital side will be under pressure, and the market is expected to operate weakly. It is recommended to gradually exit long positions in stock index futures and wait for new opportunities, and not to participate in stock index call options for the time being [1][3] - In 2026, the profit growth rate of all A - shares is expected to rise from 6% this year to 8%. Multiple factors will help the valuation of the A - share market rise further. The risk of a sharp rise in the Chinese stock market in 2026 is much higher than that of a sharp decline [2][3] 3. Summary by Relevant Catalogs Market Review - On Tuesday, the main indices of the two markets fluctuated and declined, with the trading volume slightly increasing. The CSI 300 Index closed at 4598 points, down 23 points (-0.51%); the SSE 50 Index closed at 2997 points, down 21 points (-0.71%); the CSI 500 Index closed at 7121 points, down 51 points (-0.71%); the CSI 1000 Index closed at 7380 points, down 42 points (-0.57%). The net inflow of settled funds in CSI 1000 Index futures was 500 million yuan [1] - Among industry and theme ETFs, those with the highest gains were communication ETFs, 5G ETFs, etc., and those with the highest losses were gold stock ETFs, industrial non - ferrous ETFs, etc. Among the sector indices of the two markets, those with the highest gains were components, consumer electronics, etc., and those with the highest losses were forestry, industrial metals, etc. [1] Important Information - Domestic AI company Zhipu AI officially announced the open - source of its core AI Agent model - AutoGLM, which may be the "intelligent driving moment" for the mobile phone industry [1] - From January to September 2025, global gas turbine orders increased by 54% year - on - year in GW terms, with US orders surging by over 200% [1] - Dalio believes that the global economy will face risks in the next one to two years due to the overlap of debt, political conflicts, and geopolitical cycles. Attention should be paid to the catalysts for the bursting of the AI bubble [1] - AR glasses Project Aura deeply integrates Gemini AI, and its founder believes that the incremental data brought by glasses may be the only way for AI to reach AGI [1] - The explosion of AI computing power has led to a shortage of automotive storage chips, with the satisfaction rate in 2026 possibly less than 50% [1] - The US President has approved NVIDIA to export its H200 AI chips to China, which may help NVIDIA regain billions of dollars in business [2] - SoftBank and NVIDIA are in talks to invest in Skild AI, a robot basic model developer, and the financing may value Skild AI at $14 billion [2] - Goldman Sachs clients are withdrawing their bullish views on AI and the US stock market, and investors' expectations for the S&P 500 Index in 2026 have become more conservative [2] - Analysts expect the Fed's interest rate cut decision this week to be accompanied by a hawkish tone, and the global market expects many countries to restart interest rate hikes in 2026 [2] - Technology giants' extension of the depreciation period of AI chips and other equipment can boost book profits, but the market's focus is on the long - term return on investment [2] - Six conservative justices of the US Supreme Court questioned a 1935 precedent, while three liberal justices warned against overthrowing the long - term position protection mechanism [2] - The US President announced $12 billion in agricultural aid funds from tariff revenues, to be distributed by the end of February 2026 [2] Market Logic - The main indices of the two markets fluctuated and declined on Tuesday, with some short - term profit - taking funds exiting. The chairman of the CSRC emphasized the role of the capital market, and analysts believe that the A - share market's valuation will rise in 2026. International funds are flowing into the Chinese stock market, and NVIDIA's CEO believes that China will win the AI competition [1][2] Future Outlook - The Politburo will continue to implement a more proactive fiscal policy and a moderately loose monetary policy. Global funds are increasing their positions in Chinese stocks. The CSRC chairman supports technological innovation. Morgan Stanley is optimistic about the Chinese stock market in 2026. Industry insiders believe there is no AI bubble in the next three years. Google plans to increase AI computing power. The probability of the Fed cutting interest rates in December has exceeded 90%. The US has adjusted its economic relations with China, which will accelerate the flow of global funds to the Chinese capital market. The market is expected to operate weakly [3] Trading Strategies - For stock index futures directional trading, gradually exit long positions and wait for new opportunities [3] - For stock index option trading, do not participate in stock index call options for the time being [3]

以下文章来源于RoboX ，作者RoboX RoboX . 从AI汽车到机器人，我们关注最具潜力的超级智能体！ 作者 | RoboX 来源 | RoboX 原文链接： 地平线苏箐演讲全文提炼：自动驾驶的曙光、痛苦与轮回 点击下方 卡片 ，关注" 自动驾驶之心 "公众号 戳我-> 领取 自动驾驶近30个 方向 学习 路线 >>自动驾驶前沿信息获取 → 自动驾驶之心知识星球 本文只做学术分享，如有侵权，联系删文 演讲者：苏箐 | 地平线副总裁&首席架构师 演讲时间 ：2025.12.9 演讲场合 ：2025地平线技术生态大会 全文提炼如下： 今年，我们确实能看到自动驾驶的技术路径是比较清晰的，但也会看到有更难的问题在前面。你知道这些问题能解掉，但应该怎么解今天还不知道。 绝大多数行业外的人，可能并不理解自动驾驶团队面临的困难和压力。这种智力和体力的双重压榨极度痛苦，因为有SOP的时间压在那儿，然后又有方法论的变化， 还有各种corner case需要去解。 在稠密的世界里连续运行的时候，所有的case都需要解决，这就是这个行业非常痛苦的地方。 曙光：重大分水岭的出现 我刚准备加入地平线的时候，和余凯博士聊过几次， ...

【CNMO科技消息】12月9日，据《科创板日报》报道，华为2012实验室已经成立基础大模型部，专注 于推进基座模型开发。 据CNMO了解，华为2012实验室的名字来源于华为创始人任正非观看完《2012》电影后，认为未来数字 世界的信息爆炸会像电影中末日的洪水一样，华为要想在未来生存就得构造属于自己的"诺亚方舟"。于 是，由数十个研究室组成的2012实验室承载了通信技术、云计算、音频视频分析、人工智能、机器学习 等最前沿技术，主要面向未来5-10年的研究方向。 今年10月，华为常务董事、产品投资委员会主任、终端BG董事长余承东在社交媒体发布"全球顶尖AI人 才招募令"，面向全球招募具备卓越学术背景和创新精神的年轻科研人才，拥有原创性科研成果的候选 人将被优先考虑。 所有对未来的想象都是保守的 AGI将是超越想象的革命 我们正在打造世界一流的Al战队 构建领先世界的大模型,攀登 AGI 的巅峰 没有退路,就是胜利之路 这是一场定义时代、改变世界的战役 如果你 眼里有光芒 心中有信念 坚信做难事必有所得 那么,来吧! 加入我们! 在时代的决战场上 铸就不朽功勋! 践们期待这样的你 学术先锋 岗位覆盖AI算法、大模型 ...

距离ChatGPT的横空出世，已经过去了三年。 三年时间，市场对于AI的热情并没有丝毫褪去，反而赌注越下越重。但在资本持续加码的喧嚣背后，盲目的兴奋感正 在被一种具体的焦虑所取代：这波AI浪潮的终点到底在哪？什么才是落地的正确姿势？ 在大多数人还在仰望AGI（通用人工智能）的顶峰，或者迷失在对话框里的时候，未来式智能联合创始人兼COO邹阳 给出了一个冷静且独特的判断。 "沿着大语言模型这条路大概率不能登顶AGI。不过这不重要我也不关心。重要的是，在半山腰足够改变世界。" 在邹阳看来，半山腰的技术能力，已经具备了全部产品落地产生价值的可能性。AI真正的战场不在于做一个陪聊的聊 天机器人，而在于潜入产业流程，成为企业里那80%重复、高频、规则与判断聚合的脑力工作的"外接大脑"。 这种判断力，源自邹阳在AI行业深耕多年的体感。 邹阳算得上经历了AI 从 1.0 走向 2.0 的完整周期。从魅族 AI 实验室，到搜狗语音交互技术中心，再到阿里巴巴达摩 院，他的职业路径几乎与行业演进同步。 在达摩院期间，他负责的智能语音语义产品线连续多年在国内AI 云服务市场占据第一，属于那批最早把技术推向大规 模商用的人。 他见过人 ...

«——【引言】——» 关键是，它的"身份"不一样——这是我国第一家登陆资本市场的全功能GPU公司，也是今年科创板最大的一笔IPO。 这件事有点像当年我国造出第一架国产大飞机，不管飞得高不高、远不远，它能飞就是巨大的突破。 摩尔线程代表的是国产算力从"有没有"向"好不好"迈进的一步，而这一步，恰好踩中了最敏感的神经。 为什么是它？因为别人都还在"打副本"，它已经"通关换职业"了 中国又一颗重磅"芯"诞生了！ 一家公司靠这款新型芯片横空出世，创始人身家一夜暴涨260亿，资本市场瞬间沸腾。 它不仅打破了长期被国外垄断的技术壁垒，还可能改写整个算力格局。 可这场看似高光的逆袭，背后真的那么简单吗？ 让我们一起来看看吧。 开盘飙涨468%，它不是在造富，是在制造信号 12月5日一早，摩尔线程股票刚一亮相，股价像开了挂，冲得比AI写稿还快。 发行价114.28元，10分钟内冲到688元，光是"中一签"的潜在收益就让股民群热闹了半个月。 这些数字很诱人，但炒股的都知道，一个新股首日暴涨，并不能说明太多问题。 很多国产芯片公司，一开始都会选择一块"边角料"市场，比如只做图形渲染，或者只做AI加速卡。 毕竟技术门槛低一点，先活 ...

🚨 BREAKING: Grok 4.1 just seized #1 on the ARC-AGI Leaderboard90.2% – the highest score ever recorded on the toughest test of general intelligence.This isn’t incremental. This is a leap toward AGI.The future isn’t coming. https://t.co/inqSr1Q67M ...

Core Viewpoint - Google has unveiled Project Aura and Android XR, marking a significant step towards creating an open and unified extended reality platform that integrates AI into the real world [3][4][5]. Group 1: Project Aura and Android XR - Project Aura is described as the most complete hardware sample closely aligned with the ideal form of Android XR, enabling Gemini AI to "see the world" for the first time [3]. - The collaboration with XREAL is pivotal, as Aura is positioned as the first native spatial eye for Gemini AI and a standard for developers in the Android XR ecosystem [4]. - Project Aura aims to transform AI from being screen-bound to interacting with real-world environments through continuous, interactive, and understandable spatial semantic models [5]. Group 2: Core Capabilities of Project Aura - The optical system of Aura features a 70° field of view (FOV), allowing Gemini to perceive the real world and recognize scenes, objects, and actions, enhancing user interaction [9]. - Aura utilizes the X1S spatial computing chip, designed specifically for AR, providing low-latency and high-precision spatial intelligence [10]. - The integration of multi-modal Gemini AI with Aura's sensors enables real-time semantic understanding and natural interaction, evolving AI from an application to a system [11]. Group 3: Open Native AI Operating System - Android XR provides foundational support for spatial computing, addressing fragmentation in the XR industry and unifying the developer and content ecosystem [12]. - The hardware development and manufacturing of Project Aura are primarily conducted by Chinese teams, showcasing a complete and scalable industrial chain advantage [12]. - China is positioned as a global leader in hardware innovation and manufacturing, allowing its companies to participate deeply in defining the standards and discourse of the next-generation computing platform [13]. Group 4: Market Launch - Project Aura is set to officially enter the market in 2026, indicating a timeline for the rollout of this innovative technology [14].