机器之心报道 机器之心编辑部 布林于 1993 年进入斯坦福工程学院，攻读计算机科学研究生。读研期间，他结识了拉里・佩奇。两人共同 开发了一种搜索算法，并于 1998 年创办了谷歌。 回顾谷歌的来时路， 布林 坦言 8 年前提出 Transformer 时，他们没有予以足够的重视，而且因为担心聊天 机器人说蠢 话而害怕将其展示给世人。但他同时认为，他们这些年也做了很多正确的事情，比如投资研发 TPU 并建立规模庞大的数据中心。 对于未来，布林也表达了一些自己的看法，比如认为 大学未来可能不应该再限制于某个地理位置，学界未 来应该投身更具探索性质的研究，材料等科研方向可能被低估了 …… 以下是这场对话内容的摘录。 Google 早期做对了什么？ 学术基因、敢碰难题 校长：Google 已经是一家市值 4 万亿美元的公司，业务范围极其广泛。你们这些年肯定做了很多正确的决 定。有没有什么是你们在创建 Google 初期就做对的事情？ 布林： 我觉得早期的话，Larry 一直非常有雄心。他现在也是。对你提出的每个计划，他几乎都会说「这不 够有野心」。我们确实很早就有了非常宏大的使命宣言 —— 整合全球信息。我认为这是 ...

Group 1 - The Hong Kong Investment Management Company (referred to as "HKIMC") has appointed 10 asset management firms under the "New Capital Investor Immigration Program" for the "2025 Fund Group," focusing on venture capital, private equity, private credit, and hedge funds [1] - The selected firms include PanShih Capital, Sky Horizon Ventures, CMC Capital, Morning One Fund, Hidden Mountain Capital, M Capital, Baijun Capital, Springhua Capital, Xincheng Capital/CITIC Capital, and Yuantong Capital Management, along with Wisdom Group [1] - HKIMC reported a strong market response to the selection process, indicating diverse backgrounds, investment strategies, and practical experience among the applicants, reflecting confidence in Hong Kong's future development [1] Group 2 - The "New Plan" was announced by the Hong Kong SAR government in 2024, with applications starting on March 1, 2024, requiring a minimum investment of HKD 30 million in approved investment assets, including HKD 3 million in the "Investment Portfolio" [2] - The initial funding for the "2024 Fund Group" has already commenced, with progress deemed satisfactory, and the "2025 Fund Group" is estimated to reach at least HKD 3 billion by the end of this year, to be evenly distributed among the selected asset management firms [2] - The investment activities for the "2025 Fund Group" are set to begin in the first quarter of 2026 [2] Group 3 - HKIMC, established in 2022, is a wholly-owned capital institution representing the Hong Kong SAR government, utilizing an "investment+" model to achieve reasonable long-term investment returns while fostering new growth momentum [3] - As of October 2025, HKIMC has invested in over 150 projects across key sectors such as hard technology, life sciences, and renewable/green technology, with notable companies like Simo Technology and Baidu Bio behind its investments [3] - By the end of 2024, HKIMC's invested projects accounted for less than one-fifth of the initial capital, generating HKD 2.3 billion in investment income, with 62% of projects located in mainland China and 34% in Hong Kong [3] Group 4 - In 2025, HKIMC plans to deepen its efforts based on 2024's foundation, including increasing funding for companies that meet development and performance standards, such as leading new investment rounds to help these companies seize market opportunities [4]

Core Viewpoint - The article discusses the recent appointment of ten investment institutions under Hong Kong's "New Capital Investor Immigration Program," highlighting the strategic focus on high-growth sectors such as hard technology, life sciences, and new energy [5][6]. Group 1: Investment Program Overview - The "New Capital Investor Immigration Program" was introduced by the Hong Kong government in March 2023 to attract high-net-worth individuals to invest in Hong Kong [6]. - Qualified applicants must invest at least 30 million HKD in approved assets, with 3 million HKD allocated to a designated investment portfolio managed by the Hong Kong Investment Management Company [6][7]. - The selected investment institutions include a diverse range of strategies, covering venture capital, private equity, private credit, and hedge funds [7]. Group 2: Selected Investment Institutions - The ten appointed institutions are: PanShih Capital, Sky Horizon Ventures, CMC Capital, Morning One Fund, Yinshi Capital, M Capital, Baijun Capital, Springhua Capital, Xincheng Capital/CITIC Capital, and Value Partners Group [5][7]. - These institutions have outlined specific plans to expand their business in Hong Kong, focusing on areas such as artificial intelligence applications, sustainable technology, materials science, and biotechnology [8]. Group 3: Investment Performance and Strategy - As of October 2023, the Hong Kong Investment Management Company manages approximately 640 billion HKD and has invested in over 150 projects, with two IPOs completed [9][11]. - The investment strategy emphasizes hard technology, which accounts for 71% of total investments, while life sciences and new energy/green technology represent 13% and 11%, respectively [10]. - The company has reported an investment income of 2.345 billion HKD for the year, with operational profit reaching 2.252 billion HKD [9]. Group 4: Future Outlook - The estimated scale of the "2025 Fund Group" is projected to be at least 3 billion HKD by the end of this year, with investments expected to commence in the first quarter of 2026 [8]. - The company claims that every 1 HKD invested can attract over 6 HKD in market follow-on funding, indicating a strong leverage effect [11].

Core Insights - The 2025 Pudong International Talent Port Forum highlighted the strong growth of the biopharmaceutical industry in Pudong, with over 140,000 professionals, including 22,000 returnees and foreign experts, and more than 20 academicians [1][2] - The "Pudong Youth Innovation and Entrepreneurship 15 Measures" policy aims to attract global talent by providing 1 million square meters of low-rent youth apartments and entrepreneurial spaces [1] - The "2025 Pudong New Area Biopharmaceutical Industry Talent Development Trend Report" indicates that Pudong's biopharmaceutical industry accounted for over 40% of Shanghai's overall industry scale in 2024, showcasing its core position [1][2] Talent Development - In 2024, Pudong's biopharmaceutical workforce reached 129,900, reflecting a stable increase, with an average new hire rate of 16.3% and a turnover rate of 15.6%, indicating a slight net inflow of talent [2] - The report noted a significant increase in talent in the biopharmaceutical R&D sector, rising from 9.7% in 2023 to 11.1% in 2024, signaling a new direction for industry development [3] - The proportion of individuals with doctoral degrees in the industry is 5%, surpassing the average of 2.6% in other sectors, with over 60% of the workforce being under 40 years old [3] Industry Structure and Trends - The report identifies three key characteristics of future talent needs: high-end, cross-disciplinary, and globalized, focusing on innovative drug development, integration with AI and materials science, and international market expansion [3] - Companies are particularly seeking talent in immunotherapy, cell therapy, antibody RNA and nucleic acid drug development, AI integration, and biosynthesis technology [3] Ecosystem and Innovation - Pudong has established itself as a major hub for the biopharmaceutical industry, with seven new Class I innovative drugs and six innovative medical devices launched this year [4] - The region is enhancing its innovation ecosystem by developing a two-square-kilometer area into a high-energy innovation hub, attracting research institutions and multinational companies [4] - Future plans include strengthening source innovation, optimizing industrial space, nurturing leading enterprises, and improving the overall industry ecosystem [5]

Group 1 - The Hong Kong Investment Management Company announced the selection of ten asset management firms under the "New Capital Investor Entry Scheme" for the "2025 Fund" category [2] - Selected firms include a diverse range of strategies such as venture capital, private equity, private credit, and hedge funds, with firms like Pan Shih Capital, Skywide Ventures, CMC Capital, and others [2] - The selected asset management companies presented specific plans to expand their business in Hong Kong, contributing to the long-term development of the local economy and competitiveness [2] Group 2 - The Hong Kong SAR government will announce details of the "New Scheme" in 2024, with applications starting on March 1, 2024, requiring a minimum investment of HKD 30 million in approved assets [3] - The "2025 Fund" is estimated to have a scale of at least HKD 3 billion by the end of this year, which will be evenly distributed among the selected asset management firms, with investment activities starting in the first quarter of 2026 [3]

Core Insights - The integration of artificial intelligence (AI) with materials science is creating new opportunities for innovation in material research [1][2] - The second Materials Science Summit focused on the intersection of AI and materials science, highlighting the importance of AI as a core driver of research and development [1][2] - The summit featured discussions on how AI is reshaping the paradigms of materials research, moving from experience-driven to data and intelligence-driven approaches [4][5] Group 1: Summit Overview - The summit was hosted by MDPI and held at the Guangdong Technion-Israel Institute of Technology, attracting top scholars and industry representatives from around the world [1] - Keynote speeches emphasized the need for AI to redefine materials research fundamentally, rather than merely serving as a supportive tool [1][2] - The event included the announcement of the Michele Parrinello Award and the launch of new journals focused on AI and materials research, indicating a commitment to advancing this interdisciplinary field [2] Group 2: Academic Contributions - Prominent academicians shared insights on the groundbreaking applications of AI in materials science during the summit [2] - A high-level forum featured discussions on AI's role in empowering materials research and nurturing young scientists, showcasing the collaborative spirit of the academic community [2][4] - The consensus among participants was that AI is becoming the "new language" and "new tool" in materials science, facilitating a shift towards more efficient research methodologies [4] Group 3: Future Directions - The convergence of AI models, automated experiments, high-performance computing, and materials databases is expected to significantly enhance the efficiency of materials development [5] - MDPI plans to continue supporting the global materials science community through open-access publishing, academic platform development, and international conference organization [5]

Core Insights - China is emerging as a new technological powerhouse, with Chinese scientists taking a leading role in nearly half of all collaborative research projects with the US in 2023, indicating a significant increase in China's scientific influence [1][2] - The analysis of nearly 6 million research papers shows that 45% of the leadership in Sino-American research collaborations is now held by Chinese researchers, suggesting that by 2027-2028, China could match the US in key strategic fields such as artificial intelligence, semiconductor research, and materials science [1][2] Group 1 - China is making substantial investments in the scientific field and placing science at the core of its development strategy, expanding research openness and actively organizing international cooperation [2] - The country is developing a robust international scientific collaboration network by encouraging students and scientists to study and work globally, while also attracting talent from around the world [2] - China's strategic advantages include speed, strategic investment, and a state-led research system, although international research collaboration is becoming increasingly challenging due to geopolitical tensions [2] Group 2 - While the US remains a leader in artificial intelligence, China is rapidly catching up and is playing a crucial role in AI patent applications [2] - European institutions are lagging significantly behind their Chinese and American counterparts in global comparisons, indicating a shift in the global economic and geopolitical order [2] - For Europe, one potential strategy to keep pace with advancements is to consciously collaborate with Chinese teams in order to stay relevant in the evolving technological landscape [2]

Core Insights - The analysis of nearly 6 million research papers indicates that Chinese scientists have taken a leading role in nearly half of the Sino-American scientific collaboration projects, highlighting China's growing influence in setting the global research agenda [1][3] Group 1: Leadership in Research - In 2023, the proportion of Chinese scientists in leadership roles for Sino-American joint research projects reached 45%, a significant increase from 10% in 2010. This trend suggests that by 2027 or 2028, China may achieve parity with the U.S. in research leadership [3] - The study provides insights into the changing power dynamics of Chinese scientists in international scientific collaborations, indicating that China is not only producing more scientific results but is also leading the production process [3] Group 2: Strategic Areas of Growth - Chinese researchers are expected to achieve leadership parity with the U.S. in 8 out of 11 key areas identified by the National Science Foundation, including artificial intelligence, semiconductors, energy, and materials science, by 2030 [3] Group 3: Context of U.S. Research Environment - The publication of this research coincides with significant turmoil in U.S. research institutions, characterized by substantial budget cuts and large-scale layoffs in federal research agencies, leading to an outflow of American researchers [3]

Core Viewpoint - The recent surge in technology stocks is attributed to pivotal points and positive earnings reports, particularly in sectors related to computing, storage, PCB, optical connections, and power equipment [1]. Group 1: Market Trends - The computing, storage, PCB, optical connection, and power equipment sectors continue to shine, indicating strong performance in related technology stocks [1]. - Energy storage-related stocks have also seen significant increases, driven by quarterly reports [1]. Group 2: Stock Selection and Analysis - Pivot points are effective for timing but cannot replace stock selection, which remains crucial [2]. - The stock of Dongfang Tantalum Industry has experienced consecutive gains, showcasing a specific trading pattern [3]. - The analysis of trends should focus on daily K-line developments and structural formations, rather than solely on short-term trading methods [5]. Group 3: Financial Data and Indicators - Companies in the materials sector, such as Dongyangguang, Nanjing Julong, and Western Superconducting, are highlighted for their potential due to advancements in hard technology and materials science [6]. - Emphasis is placed on understanding industry dynamics rather than superficial themes or concepts, as the latter do not drive long-term stock performance [6]. Group 4: Methodology and Tools - A bottom-up methodology is recommended, starting from individual stocks to industry analysis, which helps in confirming stock selection [7]. - The use of specific functions, such as CALCSTOCKINDEX, is suggested for integrating industry indicators with individual stock metrics [7][9]. - Understanding the principles behind indicators is essential for effective application, rather than merely following rigid methodologies [10].

Group 1 - The core argument presented by Sachs is that five major forces are reshaping the global landscape, leading to instability [1][2] - The five forces identified are geopolitical power, ecological crises, interconnected technological revolutions, the intersection of geopolitics and technology, and demographic changes [1][2] - Geopolitical power is significantly influenced by China's return to a central role in the global economy, finance, technology, and politics [1] - Ecological crises consist of three interrelated issues: climate change caused by human activity, loss of biodiversity, and large-scale pollution [1] - The technological revolution is described as a major driver of international turmoil, with advancements in AI, computing, biotechnology, and materials science having dual purposes [1] Group 2 - The intertwining of geopolitics and technology has led to unprecedented power concentration [2] - Demographic changes are seen as a decisive factor, with global population growth reaching its peak in most regions except Africa, which is expected to add approximately 2 billion people [2] - By the end of the century, the global population is projected to reach around 9 to 9.5 billion, with Africa potentially accounting for 25% to 30% of this total [2] - These demographic shifts will have profound implications, particularly in enhancing Africa's role in global economic, political, and cultural affairs [2]