我最近参与了一些关于为终端用户设计基于大型语言模型工具的有趣讨论，其中一个重要的产品设计问 题是"人们对人工智能了解多少？"这很重要，因为正如任何产品设计师都会告诉你的，你需要了解用 户，才能成功为他们打造可用的产品。想象一下，如果你在搭建一个网站，假设所有访客都会流利使用 普通话，所以你用普通话写了网站，但结果发现你的用户全是西班牙语。就是这样，因为虽然你的网站 可能很棒，但你构建的假设是致命的错误，结果大大降低了它的成功可能性。 所以，当我们为用户构建基于LLM的工具时，我们必须退一步，看看这些用户如何看待LLM。例如： 用户研究是产品设计中极其重要的部分，我认为在构建基于大型语言模型的工具时跳过这一步是个大错 误。我们不能假设我们知道特定受众过去如何体验过大型语言模型，尤其不能假设我们自己的经历代表 他们的经历。 用户类别 大概有 这四个类别： 无意识使用者（不知道/不在乎） 一个不怎么思考人工智能、也不认为它与自己生活相关的用户属于这一类。他 们自然对底层技术了解有限，也不会有太多好奇心去了解更多。 回避型用户（人工智能很危险） 这个用户对人工智能整体持负面看法，会带着高度怀疑和不信任来解决这个问 题 ...

Core Viewpoint - The article discusses the development of a novel all-optical chip named LightGen, which addresses the significant computational power shortage faced by large-scale generative artificial intelligence, particularly in visual generation tasks [1][4]. Group 1: Research Development - A research team led by Assistant Professor Chen Yitong from Shanghai Jiao Tong University published a paper in the journal Science on December 18, 2025, detailing their work on the LightGen chip [2]. - The LightGen chip is designed for large-scale intelligent semantic vision generation and integrates millions of photonic neurons to achieve high-resolution image generation, denoising, style transfer, and 3D generation and manipulation [3][4]. Group 2: Performance and Efficiency - Experimental results indicate that the LightGen chip's end-to-end computational speed and energy efficiency exceed that of the most advanced electronic chips by more than two orders of magnitude, paving the way for the advancement of large visual generative models [4].

中经记者 杜丽娟 北京报道 内需是经济发展的基本动力，提振消费是扩大内需、做大做强国内大循环的重中之重。普华永道近日发 布了《全球消费者之声》调研结果，今年的调研访问了28个国家和地区的21075名消费者，据悉该调研 已经进行了16年。 普华永道中国消费市场行业主管余叶嘉莉分析认为，从调研结果看，中国消费市场潜力巨大。随着中高 收入群体的不断壮大，他们对健康和可持续发展给予了更多关注。 （编辑：朱会珊 审核：朱紫云 校对：颜京宁） 与此同时，中国消费者比全球受访者更积极地将环保意识转化为实际行动。他们主动从不同渠道（包括 社交媒体、产品包装甚至零售店面展示）了解企业的可持续性发展，相比全球受访者，中国消费者更愿 意为可持续食品支付溢价（中国内地为63%；全球为44%）。 值得注意的是，虽然他们青睐中国制造或生产的产品，但他们也接受质量优良的进口商品。 调查结果融合了全球趋势与区域特点，结果显示中国内地、中国香港以及全球的受访者在与生成式人工 智能、健康应用或可穿戴设备和社交媒体的互动上非常相似。 相较全球其他地区的受访者，中国消费者更重视具有营养价值的产品（中国内地比例为34%；全球比例 为27%）、符合特定 ...

Core Viewpoint - The emergence of generative artificial intelligence (AI) raises significant legal challenges, particularly concerning copyright and infringement issues, necessitating a careful regulatory approach that utilizes existing laws rather than rushing into new legislation [2][3][4] Group 1: Current Legal Framework and Recommendations - Current specialized legislation for AI infringement is considered premature; instead, existing laws such as the Civil Code and Personal Information Protection Law should be leveraged to address AI-related infringement issues [3][4] - The approach should focus on "regulating in development," utilizing existing legal frameworks to interpret and apply rules effectively while accumulating case law and judicial interpretations [4][10] Group 2: Infringement Liability and Standards - The core legal issue in AI infringement revolves around the choice of liability principles, with a preference for "fault liability" over "strict liability" to avoid stifling AI development [5][6] - The standard for determining fault in AI infringement should center on "breach of duty of care," considering specific scenarios to balance risk management costs with reasonable obligations [6][7] Group 3: Deepfake Technology and Personal Information - There is a need to prohibit the use of deepfake technology to infringe on others' rights, with recommendations to interpret existing laws to address deepfake-related infringements effectively [8][9] - The treatment of publicly available personal information should differentiate between input and output stages, allowing for the use of such data in model training without individual consent, while ensuring that output results do not infringe on copyright [8][9] Group 4: Regulatory Philosophy - The regulatory philosophy should embrace a cautious, inclusive, and open attitude towards the development of generative AI, ensuring that innovation occurs within a safe and controlled environment [10]

不断挑战新高的铜价，明年还有多少空间？ 摩根士丹利于12月发布的研究报告指出，在可再生能源需求增长放缓、供给受限的背景下，数据中心正 成为铜需求增长的关键引擎，有望推动铜价创下历史新高，2026年全球铜市场或将出现2004年以来最大 年度缺口。 01 数据中心铜需求爆发式增长 报告预测，2025年全球数据中心铜消费量约为50万吨，占全球铜总需求的1.5%；2026年这一数据将增 至74万吨，为全球铜需求增长贡献0.6个百分点，有效抵消可再生能源领域需求放缓的影响。 长期来看，到2027年，数据中心铜消费量有望达到100万吨(占总需求2.8%)，2028年进一步增至130万吨 (占比3.3%)，复合年增长率达40%。 这一增长主要由生成式人工智能驱动。数据显示，2023年GenAI相关数据中心电力消耗占2022年全球数 据中心电力的6%，2025年将升至36%，2027年更是有望超过2022年数据中心电力总量。 2025年数据中心总电力需求预计达88吉瓦，2026年增至115吉瓦，2028年将达199吉瓦，电力需求的激增 直接拉动了铜在配电等环节的消耗。 从铜强度情景来看，中性情景下数据中心铜强度为27千吨/吉 ...

点击查看公告原文>> 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 2025年12月18日，商汤集团（股份代号：0020及80020）公告称，通过一般授权以"配售新B类股份"方 式融资，其中配售新B类股份发行1,750,000,000股（约17.5亿股），募集约31.5亿港元；扣除费用后净得 约31.5亿港元。本次融资由国泰君安国际、招银国际担任配售代理。 配售新B类股份配售价1.80港元较前一交易日收市价1.97港元折让约8.6%，较前五个交易日平均收市价 折让约15.1%。配售股份占现有已发行股本约4.5%，完成后占扩大股本约4.3%。 商汤集团是领先人工智能软件公司，主要从事销售先进人工智能软件平台及相关服务、人工智能软硬一 体产品、AI ...

Core Viewpoint - SenseTime-W (00020) announced a placement agreement to issue 1.75 billion shares at a price of HKD 1.80 per share, representing an approximate 8.63% discount to the closing price of HKD 1.97 on December 17, 2025 [1] Group 1: Placement Details - The placement will involve at least six subscribers and will account for approximately 4.60% of the issued B shares and about 4.52% of the total issued shares as of the announcement date [1] - The expected total proceeds from the placement are approximately HKD 3.15 billion, with a net amount of about HKD 3.14 billion [1] Group 2: Use of Proceeds - 30% of the net proceeds will be used to support the company's core business development, including building an industry-leading AI cloud and expanding the scale of its AI infrastructure [1] - 30% will be allocated to research and development of generative AI and the development of derivative products based on the company's multimodal large models [1] - 20% will be used to explore the integration and application of AI in innovative verticals, including but not limited to finance and education [1] - 20% will be reserved for general working capital [1]

Core Viewpoint - SenseTime-W (00020) announced a placement agreement to issue 1.75 billion shares at a price of HKD 1.80 per share, representing an approximate 8.63% discount to the closing price of HKD 1.97 on December 17, 2025 [1] Group 1: Placement Details - The placement will involve at least six subscribers and will account for approximately 4.60% of the issued B shares and about 4.52% of the total issued shares as of the announcement date [1] - The expected total proceeds from the placement are approximately HKD 3.15 billion, with net proceeds estimated at HKD 3.14 billion [1] Group 2: Use of Proceeds - 30% of the net proceeds will be used to support the company's core business development, including building an industry-leading AI cloud and expanding the scale of its AI infrastructure [1] - 30% will be allocated for research and development of generative AI and the development of products derived from the company's multimodal large models [1] - 20% will be used to explore the integration and application of AI in innovative verticals, including but not limited to finance and education [1] - 20% will be reserved for general working capital [1]

Core Viewpoint - The company, SenseTime-W (00020.HK), has announced a placement agreement to issue 1.75 billion shares at a price of HKD 1.80 per share, aiming to raise approximately HKD 31.50 billion in total proceeds [1] Group 1: Placement Details - The placement shares represent about 4.60% of the issued B shares and approximately 4.52% of the total issued shares as of the announcement date [1] - The net proceeds from the placement are expected to be around HKD 31.46 billion [1] Group 2: Use of Proceeds - 30% of the net proceeds will be used to support the company's core business development, including building an industry-leading AI cloud and expanding the scale of its AI infrastructure [1] - 30% will be allocated for research and development of generative AI and the development of derivative products based on the company's multimodal large models [1] - 20% will be used to explore the integration and application of AI technologies in innovative verticals, including but not limited to finance and education [1] - 20% will be allocated for general working capital of the company [1]

英矽智能 InSilico Medicine Cayman TopCo (於開曼群島註冊成立的有限公司) 股份代號：3696 全球發售 聯席保薦人 整體協調人、聯席全球協調人、聯席䵷簿管理人及聯席牽頭經辦人 聯席全球協調人、聯席䵷簿管理人及聯席牽頭經辦人 聯席䵷簿管理人及聯席牽頭經辦人 英矽智能 InSilico Medicine Cayman TopCo 重要提示 重要提示： 閣下如對本招股章程的任何內容有任何疑問，應諮詢獨立專業意見。 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 INSILICO MEDICINE InSilico Medicine Cayman TopCo 英矽智能 （於開曼群島註冊成立的有限公司） 全球發售 | 全球發售項下的發售股份數目 | ： | 94,690,500股發售股份（視乎超額配股權行使 | | --- | --- | --- | | | | 與否而定） | | 香港發售股份數目 | ： | 9,469,500股發售股份（可予重新分配） | | 國際發售股份數目 | ： | 85,221,000股發售股份（可予重新分配及視乎 | | | | 超額配股權行使 ...