具身智能，即智能机器人，是AI与物理世界交互的重要载体。它不仅需要"大脑"进行决策规划，还 需"小脑"实现稳定敏捷的行动。这种结合能弥补传统工业机器人的不足，胜任更灵巧、复杂的任务，替 代人类不愿从事的部分工作。例如，清华大学孵化的创业团队"星动纪元"研发的机器人，利用强化学习 等技术，实现了高速奔跑、跳跃等高难度动作，展示了该领域的尖端进展。 AI的赋能效应正延伸至科学发现这一人类智慧高地。姚期智预测，未来5~10年，科研范式将发生翻天 覆地的变化。未来的顶尖科研团队，必将是科学家与AI模型的有机结合体。 （来源：中国改革报） 转自：中国改革报 □ 本报记者 张守营 近日在北京举行的"2025人工智能+"大会上，图灵奖得主、中国科学院院士姚期智就人工智能的未来发 展发表了深刻见解。他指出，人工智能最重要的下一步是迈向具备类人认知推理能力的通用人工智能 （AGI），这将是未来的科技与战略高地。 姚期智肯定了中国人工智能近5年的迅猛发展。他表示，在大模型和具身智能两大关键方向上，中国已 从曾经的"跟跑者"跃升至国际第一方阵，甚至在部分领域取得领先。他认为，这得益于国家层面的战略 布局与产业界的快速跟进。 姚期智 ...

升级后的Kimi K2 Thinking模型更进一步，成为月之暗面迄今能力最强的开源思考模型，原生具备"边思 考、边使用工具"的自主智能体能力。该模型可实现无需人类干预的300轮工具调用与持续思考，在"人 类最后的考试"（Humanity's Last Exam）、OpenAI BrowseComp自主网络浏览测试等多项高难度基准中 刷新SOTA成绩，其中BrowseComp测试60.2%的得分远超人类平均29.2%的水平。凭借这一核心优势， Kimi K2 Thinking成为唯一被AI搜索应用Perplexity接入的国产模型，成功打开海外市场认可度。 在AI行业扎堆冲刺上市的背景下，手握百亿现金的月之暗面做出了"暂不急于上市"的明确表态。杨植麟 在内部信中直言，相比二级市场，公司判断当前仍可从一级市场募集更大量资金，其B/C轮融资金额已 超过绝大部分IPO募资及上市公司定向增发规模。他强调，公司短期不以上市为目的，但未来会将上市 视为加速通用人工智能（AGI）进程的手段，始终掌握上市主动权。 此次融资的顺利落地，离不开核心技术产品的突破性表现。2025年是月之暗面的技术爆发年，7月推出 的Kimi K2 ...

作者 | 允毅、木子 2025 年的硅谷 AI 圈，最激烈的战场已不止于模型参数和榜单上，另一场残酷的战争也在暗中同步升级。 当大模型一路卷到极限，算力、参数规模、基准测试分数开始出现明显的边际递减，真正被重新定价的，是"人"。 过去几年，硅谷 AI 的主叙事是"谁能训练出更大的模型、刷出更高的分数"。 但进入 2025 年，模型能力仍然重要，却不再是唯一的决定因素；大家的关注重心逐渐从"模型参数与评测分数"，转向"谁能够将模型纳入产品与系统核 心，并持续推动其在真实业务场景中发挥作用"。 这一变化，非常直观地体现在一连串人员流动中： 一边是科技巨头高调宣布重金抢人、疯狂扩招 Agent、系统、基础设施方向的研究与工程负责人；另一边，他们又在内部对原有 AI 研究体系进行重组， 让多位中高层研究负责人选择离开舞台中央。 在一系列重大人事变动中，Meta 今年的变化尤为瞩目：比如前两天豪掷 20 亿美元买下智能体公司 Manus，顺手也把 Manus 创始人肖弘"纳入囊中"。另外 据《华尔街日报》7 月报道，Meta 采用"爆炸式 offer"战术：签约金最高达 1 亿美元，决策窗口短至几小时。 而作为 Met ...

Core Insights - The AI landscape in Silicon Valley is shifting from a focus on model parameters and benchmark scores to the ability to integrate models into products and systems that create real business value [4][6] - The talent market is experiencing simultaneous layoffs and aggressive hiring, reflecting a transition from general artificial intelligence (AGI) aspirations to a consensus on application-specific artificial superintelligence (ASI) [8][10] - The operational focus is moving from technical breakthroughs to engineering execution, with companies prioritizing the conversion of existing model capabilities into stable systems and deployable products [12][16] Talent Dynamics - Major tech companies are aggressively recruiting talent in areas such as agent systems, multimodal capabilities, and AI infrastructure, indicating a shift in the types of AI skills that are in demand [25][30] - High-profile personnel changes, particularly at Meta, illustrate a strategic pivot towards product-centric development, leading to the departure of key research figures [15][19] - The influx of Chinese engineers into critical roles highlights the competitive nature of the talent market, with companies offering substantial signing bonuses to attract top talent [24][28] Market Trends - The operational costs associated with maintaining AI models are rising, leading to a reevaluation of investment strategies and a focus on commercial viability [10][11] - The decline in the marginal returns of increasing model size and complexity is prompting companies to seek more practical applications of AI technology [10][11] - The emergence of new startups and research labs, such as Advanced Machine Intelligence Labs and Thinking Machines Lab, reflects a diversification of approaches to AI development [20][23] Strategic Shifts - The decline of foundational research initiatives, such as Meta's FAIR lab, signifies a broader trend where research must directly contribute to product development to retain strategic importance [17][18] - The focus on practical applications of AI is reshaping the landscape, with companies prioritizing the ability to deploy AI systems effectively over theoretical advancements [12][16] - The competitive landscape is increasingly defined by the ability to optimize AI systems for real-world applications, moving beyond traditional metrics of success [35][36]

在《MPW零度对话》系列中，我们邀请中国最具知名度和影响力的女性领导者，讨论当下所有 人共同关心的话题，从充满热情和妙趣的对话中，提炼出冷静理性的智慧。 临近年末，多家权威词典公布的年度词汇均指向 AI，例如"slop"（网络垃圾）、"vibe coding"（氛围编 程）与"rage bait"（愤怒诱饵）。而在中国，几家机构联合推选的年度国内词则是"DeepSeek"。 泡沫之外，张璐更加关注的是今年AI领域呈现的新趋势。在她看来，2025年AI领域经历了"上升"和"下 沉"——一边是全球竞赛中的技术持续突破，一边是AI加速向产业深处落地。 技术"上升" 在AI基础设施层，尤其是芯片领域，过去由GPU主导的格局正逐步走向多元。张璐观察到，一些新模 型架构在CPU上运行效率更高；谷歌的TPU发展迅猛；高通、英特尔推出的NPU则在能效方面表现突 出。 在云基础设施层面，长期困扰行业的四大难题——算力成本高、能耗大、边缘设备应用难、数据隐私问 题——正逐步得到解决。例如，OpenAI的token价格已从每千个30美元大幅降至9美分；被英伟达收购的 由华人创立的Lepton公司，其技术能显著降低GPU消耗。 能 ...

Core Viewpoint - JD.com has partnered with Yushu Technology to open the world's first consumer robot store in JD MALL Beijing, marking a significant step in integrating robotics into offline retail and enhancing the consumer experience through a seamless online-offline model [1][7]. Group 1: Partnership and Store Opening - The collaboration between JD.com and Yushu Technology aims to accelerate the offline extension of the robotics ecosystem, creating a one-stop shopping experience that combines immersive experiences, convenient purchases, and reliable services [1][7]. - The store is strategically located in Beijing's CBD, leveraging significant foot traffic and visibility to attract consumers [3]. Group 2: Product Offerings and Consumer Experience - The store features Yushu Technology's Go2 series quadruped robot dog and G1 humanoid robot, designed for various applications including companionship, education, and commercial displays [3][5]. - An interactive experience area allows consumers to engage with the robots, showcasing their real-time responsiveness and human-robot interaction capabilities [3][8]. Group 3: Industry Context and Future Plans - The smart robotics industry is experiencing rapid growth, with projections indicating that the Chinese robotics market could reach $100 billion by 2028 [7]. - JD.com has announced an "Intelligent Robotics Industry Acceleration Plan," committing over 10 billion yuan to support 100 robotics brands in achieving over 1 billion yuan in sales within three years [7][8]. - The partnership with Yushu Technology is seen as a crucial step in overcoming barriers to robot adoption, focusing on building consumer trust and understanding real user needs [7][8].

12 月 31 日，宇树科技全球首店在京东 MALL 北京双井店开业。 京东智能机器人业务负责人表示，与宇树科技合作打造全球首店，是京东在机器人品类全渠 道布局上的重要一步。 " 京东在超级供应链、用户流量和服务等领域的能力将与宇树科技的 技术和量产优势形成深度互补，共同推动机器人产业规模化落地，让智能科技真正惠及千行 百业、千家万户。 " 【导读】宇树科技全球首店落地京东 MALL ，京东加速机器人全渠道布局 中国基金报记者 忆山 宇树科技产品系列集中亮相 据介绍，该门店位于北京 CBD 核心商圈的京东 MALL 双井店，店内以宇树科技 Go2 系列 四足机器狗和 G1 人形机器人为核心产品，覆盖家庭陪伴、教育互动、商业展示等多重场 景，满足消费者的多样化需求。 当日，在门店特别设置的开放式互动体验区，大批消费者在专业人员指导下， 近距离操作并 感受机器人的实时响应与人机交互能力，亲身体验前沿科技如何无缝融入日常生活。 开业现场，搭载激光雷达与多传感器融合系统的宇树 Go2 系列机器狗，采用先进的动态平衡 控制算法，精准流畅地完成了倒立行走、自适应翻身、越障攀爬等高阶表演动作，响应敏 捷，引起现场阵阵掌声。 ...

Core Insights - Yushu Technology has opened its first global store in JD MALL, marking a significant step in JD's all-channel layout for robotics [1] - The collaboration aims to leverage JD's supply chain and user traffic capabilities alongside Yushu's technological advantages to promote the large-scale implementation of robotics [1] Company Overview - The new store is located in Beijing's CBD and features Yushu's Go2 series quadruped robots and G1 humanoid robots, catering to diverse consumer needs in family companionship, educational interaction, and commercial display [1][2] - The Go2 Pro robot dog is priced at 19,999 yuan, while the G1 humanoid robot is priced at 85,000 yuan, showcasing a range of products available for consumer purchase [2] Industry Trends - The Chinese robotics market is projected to reach a scale of 100 billion USD by 2028, driven by advancements in AGI technology [3] - Challenges such as slow commercialization and inadequate service systems remain, necessitating a shift from technical showcases to practical life companions for widespread adoption [3] Strategic Initiatives - JD has announced an investment of over 10 billion yuan in the smart robotics sector, aiming to help 100 brands achieve sales exceeding 1 billion yuan within three years [3] - The partnership with Yushu Technology is a critical step in addressing the challenges of robot adoption by creating a physical retail presence that enhances consumer trust and understanding [4] Consumer Engagement - The store provides an interactive experience where consumers can operate robots and witness their capabilities firsthand, bridging the gap between online awareness and offline experience [4] - JD's strategy includes building a comprehensive offline experience network to facilitate the integration of smart robots into various sectors, including homes, education, and business [4]

Core Viewpoint - Beijing Zhiyu Huazhang Technology Co., Ltd. (Zhiyu) is set to become the world's first publicly listed company focused on general artificial intelligence (AGI) foundational models, with its IPO scheduled for January 8, 2026, on the Hong Kong Stock Exchange [1][11]. Group 1: Company Overview - Zhiyu was established in 2019 and is headquartered in Haidian District, Beijing, emerging from Tsinghua University's technology transfer [3]. - The company has developed a full-stack model matrix covering language, code, multimodal, and intelligent agents, and has adapted its technology to over 40 domestic chipsets, maintaining a competitive edge with global leaders [3]. - Zhiyu's GLM pre-training architecture is recognized as the first of its kind in China, showcasing a complete original technology framework and model system [3]. Group 2: Financial Aspects - The company plans to issue 37.42 million H-shares at an offering price of HKD 116.20 per share, aiming to raise approximately HKD 4.3 billion, with a projected market capitalization exceeding HKD 51.1 billion [1]. - Zhiyu has completed eight rounds of financing, raising over RMB 8.3 billion, attracting prominent investment institutions [9]. - The net proceeds from the IPO will allocate 70% (approximately HKD 2.9 billion) for AGI foundational model R&D, and 10% (approximately HKD 420 million) for optimizing its MaaS platform [9]. Group 3: Research and Development - The company has made significant R&D investments, with expenditures of RMB 84.4 million in 2022, RMB 528.9 million in 2023, and projected RMB 2.1954 billion in 2024, totaling around RMB 4.4 billion by mid-2025 [3][9]. - R&D personnel constitute 74% of the workforce, indicating a strong focus on innovation [3]. - The GLM series models undergo upgrades every 3 to 6 months, ensuring they remain at the forefront of global performance [6]. Group 4: Market Position and Recognition - Zhiyu's GLM-4.7 model achieved the highest scores in both open-source and domestic model categories in the Artificial Analysis Intelligence Index, and ranked first in the Code Arena coding evaluation system [8]. - The company serves over 12,000 enterprise clients and has empowered more than 80 million end-user devices, making it the largest independent AGI developer in China by revenue [8]. - As a pioneer in large model development, Zhiyu is positioned as a key player in transitioning the industry from "technological competition" to "value realization" [11].

随着2025年步入尾声，回顾马斯克对本年度的一系列宏大承诺，从自动驾驶技术的普及到人工智能的突 破，再到政府支出的削减，市场发现其履约记录呈现全面缺失的状态。这位科技巨头曾向投资者和公众 许下的多个关键时间表，在年底均未转化为现实。 在公共财政领域，马斯克作为新成立的准政府机构DOGE的领导者，其表现同样未达预期。在特朗普再 次当选后，马斯克承诺将通过DOGE削减2万亿美元的"浪费、欺诈和滥用"资金。然而，随着时间推 移，这一目标先是被修正为1万亿美元，随后又降至数千亿美元。 根据市场分析，DOGE并未实现实质性的储蓄。数据显示，2025日历年的前11个月，联邦政府支出总额 达到7.6万亿美元，与2024年同期相比，支出实际上增加了约2480亿美元。分析指出，DOGE声称取消 的许多政府合同实际上仍然有效，其发布的数据也多次被指不准确。 xAI通用人工智能与Roadster演示跳票 在对资本市场影响最为显著的特斯拉业务上，马斯克曾明确向投资者表示，到2025年底特斯拉的 Robotaxi（自动驾驶出租车）将覆盖美国半数人口，且不再需要人类安全驾驶员。然而，目前的实际运 营情况与上述指引严重背离，该服务仅局限于 ...