1月6日，一年一度CES，英伟达CEO黄仁勋又穿着他那身皮衣，带来了新年的第一场公开演讲。 罕见的是，这一次他没有发布新的消费级显卡，而是把目光转向物理AI。 黄仁勋点赞Kimi、DeepSeek和千问 演讲开场，黄仁勋先回顾了过去一年AI行业的进展，表示开源模型的崛起彻底改变了人工智能，已经成为全球创新的催化剂。 他直言，DeepSeek R1的出现意外推动了整个行业的变革进程，让全世界惊讶。 背后的PPT上，展示了全球多款开源大模型，其中包括三款中国大模型： 黄仁勋认为，全球开源模型性能正在快速逼近顶尖水平，即便目前仍落后最顶尖的闭源模型约6个月，但差距在逐步缩短。 未来10年，很大一部分汽车将是自动驾驶的 开源模型如此快的迭代速度，英伟达也不想错过。 在现场，他一口气介绍了英伟达开源模型宇宙下的六大领域开源模型矩阵，涵盖智能体AI、物理AI、自动驾驶、机器人等。 Kimi K2 DeepSeek V3.2 Qwen（千问） 这六大开源模型系列构成了英伟达物理AI的全栈技术体系。 Alpamayo模型的商业化也正在落地。黄仁勋宣布，搭载Alpamayo技术的奔驰 CLA，将在今年第一季度在美国上市，之后逐 ...

中信建投指出，特斯拉正引领全球"物理AI"产业变革，人形机器人作为其核心支柱之一，与智能驾驶共 享FSD端到端大模型等技术底座，开启"数据-算法-硬件"闭环迭代。本周板块情绪持续回暖，催化一方 面来自特斯拉Optimus V3 Q1发布在即、Gen3量产规划明确，另一方面，产业节奏进入实质兑现期。中 信建投认为板块处于底部反弹阶段，市场持续博弈特斯拉2026年底百万台产线落地前景，预期上修有待 新催化或量产进展验证。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 300200 | 高豐新材 | | 20.03 | 62.75亿 | 24.34 | | 301213 | 观想科技 | + | 20.00 | 66.29亿 | 20.00 | | 301046 | 能輝科技 | | 12.87 | 46.63 乙 | 16.81 | | 300919 | 中伟股份 | + | 12.66 | 599亿 | 24.11 | | 920198 | 微创光电 | | 10.92 | 18.36 Z | 13. ...

Core Insights - Nvidia's CEO Jensen Huang announced the launch of a comprehensive autonomous driving ecosystem named Alpamayo at CES 2026, marking a significant shift in the industry towards commercializing Level 4 autonomous driving [1][6] - Alpamayo is not just a single product but a "toolbox" for autonomous driving development, consisting of a large model, a global driving dataset, and a high-fidelity simulation framework [3][4] - The introduction of Alpamayo is seen as a pivotal moment for the industry, potentially transforming the landscape of autonomous driving from testing to commercial deployment by 2026 [1][7] Summary by Sections Alpamayo Overview - Alpamayo consists of three main components: the Alpamayo-R1 model, a global driving dataset, and the AlpaSim simulation framework, creating a closed-loop system for model training, data support, and simulation validation [3][4] - The Alpamayo-R1 model features 10 billion parameters and represents a paradigm shift from "perception prediction" to "reasoning planning," enabling vehicles to make decisions based on complex scenarios [3][4] Open Source Strategy - Nvidia has chosen to open-source the underlying code of Alpamayo-R1 on the Hugging Face platform, allowing developers from various sectors to access and customize the model, thus lowering the barriers for high-level autonomous driving development [4][11] - The global driving dataset includes 1,727 hours of driving data from over 2,500 cities across 25 countries, capturing diverse traffic conditions and scenarios, which can be used in conjunction with synthetic data generated by Nvidia's Cosmos model [4][6] Simulation Framework - The AlpaSim simulation framework, now available on GitHub, provides a virtual testing environment for developers to conduct large-scale safety tests, significantly reducing the costs and risks associated with real-world testing [6][10] - Alpamayo's core value lies in its ability to enable autonomous systems to not only drive but also reason and explain their actions, enhancing decision-making capabilities in complex situations [6][10] Industry Impact - The open-sourcing of Alpamayo is expected to redefine the competitive landscape of the autonomous driving industry, shifting from a focus on in-house development to ecosystem collaboration [11][12] - Traditional automakers are likely to benefit from the open-source model, allowing them to focus on optimizing user experience and specific scenarios rather than building foundational models from scratch [11][12] Market Dynamics - The launch of Alpamayo is anticipated to shift demand in the chip and computing industry from "brute force computing" to "efficient reasoning," prompting chip manufacturers to innovate in architecture and design [12][13] - The introduction of Alpamayo may also lead to the emergence of new job roles within the industry, such as autonomous driving AI trainers and scenario definition engineers, reflecting a shift in talent requirements [12][13] Challenges and Opportunities - While Alpamayo offers powerful tools, challenges remain in addressing the "long tail" problem of rare driving scenarios, which require extensive localized data and scenario engineering [14][15] - The open-source nature of Alpamayo could lead to increased competition based on data acquisition and processing capabilities, making data the new core competitive advantage [15][19] Regulatory and Consumer Considerations - The regulatory landscape poses challenges for the commercial deployment of autonomous driving technologies, with issues related to liability, data privacy, and insurance needing to be addressed [15][16] - Consumer understanding and acceptance of autonomous driving systems are critical, as misconceptions about the technology could lead to safety risks [16][19] Future Outlook - The year 2026 is seen as a critical juncture for the autonomous driving industry, with the potential for significant advancements in technology and commercial viability [19][20] - The successful integration of Alpamayo into real-world applications will depend on collaborative efforts across technology, regulation, and consumer education [19][20]

股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 1月7日，A股市场机器人概念股继续集体飙升，其中，高盟新材、观想科技20CM涨停，能辉科技、中 伟股份涨超12%，微创光电涨近11%，弘讯科技、普利特、岩山科技、南京熊猫、锋龙股份、远东股 份、银河电子、友阿股份10CM涨停。 中信建投指出，特斯拉正引领全球"物理AI"产业变革，人形机器人作为其核心支柱之一，与智能驾驶共 享FSD端到端大模型等技术底座，开启"数据-算法-硬件"闭环迭代。本周板块情绪持续回暖，催化一方 面来自特斯拉Optimus V3 Q1发布在即、Gen3量产规划明确，另一方面，产业节奏进入实质兑现期。中 信建投认为板块处于底部反弹阶段，市场持续博弈特斯拉2026年底百万台产线落地前景，预期上修有待 新催化或量产进展验证。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 300200 | 高豐新材 | | 20.03 | 62.75亿 | 24.34 | | 301213 | 观想科技 | 4 | 20.00 | 66.2 ...

东北证券发布研报称，首次覆盖，给予小鹏汽车-W(09868)"买入"评级，小鹏汽车2025年第三季度交付 量、营收与综合毛利率均创新高，公司通过推出"纯电+增程"双能策略及多款新车型开启强势产品周 期。同时，小鹏加速向"物理AI"转型，发布VLA 2.0大模型、前装量产Robotaxi及人形机器人IRON，推 动智能驾驶与具身智能技术的研发与商业化落地。 东北证券主要观点如下： 2025Q3交付量与综合毛利均创新高 在2025年科技日上，公司清晰地展示了其向"物理AI"公司转型的决心和具体路径。 核心技术VLA2.0：发布第二代视觉-语言-行动(VLA)大模型，通过砍掉语言转译环节，实现从视觉到动 作的直接映射，推理效率提升12倍。该模型在复杂小路场景的平均接管里程提升13倍。VLA 2.0计划于 2026Q1在Ultra车型上全量推送，并有望技术外溢至机器人等其他具身智能领域。 Robotaxi商业化：公司发布了中国首款全栈自研的前装量产Robotaxi，计划于2026年推出3款车型，并在 2026H2开始试运营。虽然在运营经验上与行业头部尚有差距，但凭借前装量产能力和创新的"全共享 +私享"商业模式，有望 ...

Core Insights - Northeast Securities initiates coverage on XPeng Motors (09868) with a "Buy" rating, highlighting record-high delivery volumes, revenue, and gross margin in Q3 2025, driven by a dual-energy strategy and new vehicle launches [1][2] Group 1: Financial Performance - In Q3 2025, XPeng Motors achieved total revenue of 20.38 billion yuan, a year-on-year increase of 101.8%, with net losses significantly narrowing to 380 million yuan [1] - The total delivery volume reached 116,007 units, marking a year-on-year growth of 149.3%, setting a historical record [1] - The company's gross margin surpassed 20% for the first time, reaching 20.1%, indicating a notable improvement in profitability [1] Group 2: Product Strategy - To address user range anxiety, XPeng Motors launched a "pure electric + range extender" dual-energy strategy, with the first range-extended model, X9 EREV, officially launched in November 2025 [2] - The X9 EREV features a 63.3 kWh battery and a third-generation range extender with an efficiency of over 3.6 kWh/L, achieving a CLTC pure electric range of 452 km [2] - Additional range-extended versions of key models such as G6, G7, and P7i are expected to be released in Q1 2026, along with four new models including two SUVs based on the MONA platform [2] Group 3: AI Strategy and Technological Advancements - XPeng Motors is transitioning towards a "physical AI" company, showcasing its commitment and specific pathways during the 2025 Technology Day [3] - The core technology, VLA 2.0, is a second-generation visual-language-action model that enhances reasoning efficiency by 12 times and improves average takeover mileage in complex scenarios by 13 times [3] - The company plans to fully deploy VLA 2.0 in Ultra models by Q1 2026 and aims to extend its technology to robotics and other embodied intelligence fields [3] - XPeng Motors has introduced China's first fully self-developed mass-produced Robotaxi, with plans to launch three models in 2026 and begin trial operations in the second half of 2026 [3] - The humanoid robot IRON is expected to achieve mass production by the end of 2026, initially piloting in commercial scenarios such as guiding and shopping, with AI technology synergies benefiting both the robot and autonomous driving sectors [3]

Macro - The People's Bank of China plans to implement a moderately loose monetary policy by 2026, establishing a mechanism to provide liquidity to non-bank institutions under specific scenarios to support capital markets [1] Satellite Internet - The first commercial rocket company in China, Kegong Rocket, is set to change ownership with an overall valuation of approximately 11.2 billion yuan [2] Semiconductor - NVIDIA's BlueField-4 is expected to reconstruct the AI storage hierarchy, potentially opening up new demand for NAND [3] - NVIDIA's CEO Jensen Huang announced at CES that the era of "physical AI" has arrived [7] Pricing Strategies - Seagate plans to increase product prices by 10% each quarter [4] Non-ferrous Metals - China has announced a ban on all dual-use items for military purposes to Japan, affecting critical metal materials such as rare earths, tungsten, molybdenum, indium, lithium, and titanium alloys [5] Artificial Intelligence - Market discussions regarding NVIDIA's next-generation Rubin platform specifications indicate no issues with downgrading [6] Robotics - Tesla's official recruitment platform has posted job openings related to "covering materials and soft products" for the Optimus robot [8] New Energy - A meeting for the power and energy storage battery industry is scheduled for January 7 [9] - Feedback from the industry indicates extremely low inventory levels of lithium carbonate and strong demand, with two listed companies in lithium iron phosphate confirming price increases [10] - Australia has significantly increased subsidies for home battery systems [11] - The organic silicon industry plans to intensify production cuts [12] Brain-Computer Interface - The brain-computer interface "unicorn" Qiangna Technology has completed a financing round of 2 billion yuan [13] Intelligent Driving - NVIDIA has released an open-source model family for autonomous driving, aimed at addressing long-tail issues and accelerating the implementation of intelligent driving [14] Market Dynamics - Guosheng Technology and Jiamei Packaging are under suspension for verification; Fenglong Co. has issued a warning about stock fluctuations; several commercial aerospace and brain-computer interface companies have released announcements regarding stock movements [15] - In December 2025, the number of new A-share accounts opened on the Shanghai Stock Exchange increased by approximately 9% month-on-month and surged by 30.55% year-on-year [15] Strategy Observation - On Tuesday, trading volume reached 2.81 trillion yuan, with a significant increase in market sentiment; however, rapid gains and the activation of financial sectors may raise concerns about the "healthy bull" rhythm [16] - The regulatory authorities have released signals of concern through suspensions and announcements, which may provide divergence opportunities for the market, but substantial cooling requires sustained measures [16] - Sectors such as non-ferrous metals, non-bank financials, and chemicals led the gains, indicating active institutional investment [16] - The thematic sectors, particularly those related to Musk's industries (intelligent driving and robotics), performed actively; while the semiconductor sector (e.g., storage) has solid logic, it has not yet become a focal point, with potential for future attention [16] - Currently, large funds tend to operate around mainline capacity varieties [16]

Group 1 - The State Administration for Market Regulation will accelerate the update and upgrade of a batch of national standards for green consumption [2] - The administration aims to create a favorable market environment and enhance public satisfaction through various initiatives [2] - Key initiatives include improving energy and water efficiency labeling systems, promoting "green dining" services, and strengthening law enforcement against violations in green product areas [2] Group 2 - Starting January 1, 2026, cosmetic surgery will be subject to VAT, while medical services provided by medical institutions will remain exempt [3] - The definition of "medical institutions" excludes profit-driven beauty medical institutions [3] Group 3 - Bawang Tea Ji responded to a viral video of a staff member preparing tea with bare hands, stating it was a staged act for social media and not for sale [3] - The company has taken disciplinary actions, including indefinite closure of the store and termination of the involved staff [3] Group 4 - Lee Jae-Yong, Chairman of Samsung Electronics, was spotted shopping in Beijing, purchasing 100 Labubu items [4][5] - This event occurred after his attendance at a China-Korea business forum [4] Group 5 - Elon Musk's xAI company completed a $20 billion funding round with investors including Nvidia and Qatar Investment Authority [5] - The funding has been in preparation for several months, although specific investment amounts from each party were not disclosed [5] Group 6 - Nvidia CEO Jensen Huang announced new AI products at CES 2026, including the next-generation Rubin architecture GPU [6] - The new GPU's performance is significantly improved compared to the previous Blackwell GB200 model [6] - Nvidia is also releasing several new models targeting various AI applications, including autonomous driving and robotics [6] Group 7 - Xiaomi announced disciplinary actions following an investigation into its team's interaction with KOLs, resulting in the dismissal of involved personnel [6] Group 8 - WeChat clarified that rumors about new account restrictions are false, emphasizing that normal social behavior will not be limited [7][8] Group 9 - Apple responded to criticism regarding the price of a Year of the Horse phone case, stating that the design is a collaboration and the price reflects its quality [8] Group 10 - Xiaohongshu is testing a paid note feature, allowing creators to charge for high-quality content with various payment models [9] Group 11 - KKV store in Shenzhen faced a forced closure due to alleged rent arrears, leading to employee injuries and emotional distress [10] Group 12 - Magic Cube Life Service Group is facing operational disputes in multiple cities, with claims of unpaid rent and forced tenant evictions [11] - The company stated it is optimizing its store operations and remains committed to expanding new projects [11] Group 13 - Tesla announced a new financing plan for Model 3 and Model Y vehicles, including a 5-year interest-free option [12] Group 14 - Moutai's Year of the Horse liquor is being resold at inflated prices, with some resellers offering up to 3000 yuan for a bottle originally priced at 1899 yuan [12] Group 15 - Great Wall Motors has officially implemented a full weekend off policy for all employees, marking a significant change in its work schedule [13] Group 16 - A recent incident involving a physical altercation between a pilot and co-pilot on a flight has been addressed by the airline, confirming compliance with operational standards [14] Group 17 - The C919 aircraft has successfully carried over 4 million passengers, with ongoing developments in new aircraft models and engine certifications [15] Group 18 - GAC Honda announced a two-week production halt due to semiconductor supply issues and production line upgrades, stating that the impact on overall production will be manageable [16]

早安，艾瑞巴蒂（手动问好），一起来看今天的早报： 【黑马高调早报】第3043期 更多创业内容请访问www.iheima.com 如图所示，你如何评价？欢迎留言区讨论... 【黑马·电商战略与管理落地班重磅来袭】 报名「黑马·电商战略与管理落地班」，蒋晖老师会告诉你如何做到： ✅ 薪酬设计：让员工为自己干，告别"躺平" ✅ 绩效管理：打造自驱团队，老板不 再当"监工" ✅ 组织架构：让公司自动运转，策略人才不断复制 ✅ 战略增长：找到利润翻倍的三套核心方法 电商老板不学管理？企业做大的天花板就是 你！ 用3天时间，让你快速学会管理，真正从"业务高手"成为"组织高手"。 扫码咨询报名 （翻到底部了解详情） Fast Reading 今日头条 市场监管总局：加快更新升级一批绿色消费国家标准 1月6日，市场监管总局认证监督管理司司长姚雷表示，下一步，市场监管总局将扎实推进绿色消费各项工作，营造良好市场环境，增强人民群众获得感。 一是加快更新升级一批国家标准，并支持国内相关方面深度参与绿色领域国际标准化活动；二是完善能效水效标识制度，继续支撑"以旧换新"政策落实中 的数据验证；三是纵深推进制止餐饮浪费，鼓励互联网平台企 ...

Group 1: TI's Automotive Innovations - TI launched three powerful automotive products at CES: the TDA5 series SoC, AWR2188 radar transmitter, and DP83TD555J-Q1 Ethernet PHY [1][4][7] - The TDA5 SoC features a maximum performance of 1200 TOPS and an energy efficiency of over 24 TOPS/W, with a 12-fold increase in AI computing power compared to previous generations [1] - AWR2188 is the industry's first single-chip 8x8 radar solution, enhancing performance by 30% and achieving high-precision detection for targets over 350m [4] - The DP83TD555J-Q1 Ethernet PHY supports nanosecond-level time synchronization and can transmit power and data over the same line, reducing cable design complexity and costs [7] Group 2: ADI's Diverse Solutions - ADI showcased various solutions in automotive, consumer, and robotics sectors, highlighting the A²B 2.0 solution with four times the bandwidth of its predecessor [10] - The automotive solutions include advanced lighting control and ADAS systems utilizing machine vision inputs [10][11] Group 3: NXP's High-Integration Processor - NXP introduced the S32N7 processor series, which integrates multiple vehicle functions on a single chip, potentially reducing total cost of ownership (TCO) by up to 20% [12][15] Group 4: Microchip's Demonstrations - Microchip presented demos including the ASA Motion Link for Qualcomm's Ride platform and a software-free intelligent headlight system using 10BASE-T1S technology [17][18] Group 5: Silicon Labs' New SDK - Silicon Labs launched a new Simplicity SDK for Zephyr, enhancing support for embedded systems and showcasing advancements in Bluetooth wireless technology [19] Group 6: Infineon's Development Kit - Infineon and Flex unveiled a modular development kit for regional control units, aimed at accelerating the development of software-defined vehicle architectures [20] Group 7: ST's Automotive Gateway - ST displayed the Osdyne Automotive Gateway, which enhances vehicle communication and security while reducing wiring complexity [22] Group 8: Ambarella's AI Vision Chip - Ambarella released the CV7 AI vision SoC, built on a 4nm process, achieving over 20% power reduction and more than 2.5 times the AI performance of its predecessor [25] Group 9: NVIDIA's Revolutionary Products - NVIDIA introduced the Rubin platform with six new chips and launched the Alpamayo series for AI-assisted driving development [26][28] Group 10: AMD's AI Innovations - AMD announced several new products, including the MI455X GPU and Ryzen AI 400 series processors, emphasizing its comprehensive AI capabilities [29][30] Group 11: Arm's Technology Trends - Arm focused on five key technology trends at CES, including advancements in autonomous driving, robotics, and smart home devices [31][32] Group 12: Industry Trends - The CES highlighted three major trends: the penetration of AI across all technology layers, the shift towards centralized and software-defined automotive electronics, and the importance of ecosystem collaboration over isolated technology competition [33]