Core Viewpoint - The article highlights the significant surge in the A-share and Hong Kong stock markets, particularly in technology sectors such as AI and semiconductors, coinciding with the one-year anniversary of the "9·24" market rally [3][5][14]. Market Performance - On the anniversary of "9·24", the A-share market opened lower but closed higher, with the Shanghai Composite Index rising by 0.83%, the Shenzhen Component Index by 1.8%, and the ChiNext Index by 2.28% [5]. - A total of 4,458 stocks rose, with 88 hitting the daily limit up, while 853 stocks declined [6][7]. - The total trading volume reached 23,471.54 billion, indicating robust market activity [7]. Sector Highlights - The semiconductor sector experienced a notable rally, with over 20 stocks, including ShenGong Co. and Jiangfeng Electronics, hitting the daily limit up [8][9]. - Robotics-related stocks also showed strength, with companies like Shangwei New Materials and Haoneng Co. achieving limit-up gains [10][11]. - New energy sectors, including photovoltaic and solid-state batteries, saw significant increases, with TCL Zhonghuan and Enjie Co. among those hitting the limit up [12]. Driving Factors - The surge in technology stocks is attributed to Alibaba's 2025 Cloud Summit, where CEO Wu Yongming announced substantial capital expenditures of 380 billion yuan and ambitious goals for AI development [14][16]. - The announcement of a partnership with NVIDIA for Physical AI practices further fueled investor optimism, indicating a strong demand for AI and cloud computing services [14][16]. - Analysts suggest that increased investment in AI by Alibaba reflects positive customer demand and the potential for substantial returns, which could encourage further investments in the sector [15][16].

Core Viewpoint - Alibaba's CEO emphasizes that large models represent the next generation of operating systems and that AI Cloud will be the next computing paradigm, predicting only 5-6 super cloud computing platforms globally in the future [1] Group 1: AI Infrastructure and Investment - Alibaba is actively advancing its AI infrastructure with an investment of 380 billion, planning to increase this investment further [1] - By 2032, the energy consumption of Alibaba Cloud's global data centers is expected to increase tenfold compared to 2022, indicating an exponential rise in computing power investment [1] Group 2: Path to Super Artificial Intelligence (ASI) - The journey towards achieving ASI is divided into three stages: 1. Emergence of intelligence, where AI learns human knowledge to develop generalized intelligence 2. Autonomous action, where AI acquires tool usage and programming skills to assist humans, which is the current industry stage 3. Self-iteration, where AI connects with comprehensive raw data from the physical world for autonomous learning, ultimately surpassing human capabilities [1] Group 3: Market Reaction - Following the announcements made at the Cloud Conference, Alibaba's stock in Hong Kong saw a short-term increase of over 3% [1]

Group 1 - Human-shaped robot concept stocks surged in the afternoon, with Keda Xunfei rising over 6%, Huichuan Technology and Green Harmonic increasing by 4% and 3% respectively, leading to a 2.88% rise in the Robot ETF (159770), expanding its year-to-date gain to 41.69% [1] - At the 2025 Yunqi Conference, Alibaba's Wu Yongming stated that as AI becomes more powerful, humans will also become stronger, and AI Cloud will be the next generation of computing, potentially leading to more agents and robots than the global population working alongside humans [1] - The Ministry of Industry and Information Technology proposed to explore new tracks such as humanoid robots, brain-computer interfaces, the metaverse, and quantum information during the "14th Five-Year Plan" period, aiming to create a number of future industry pilot zones [1] - The National Energy Administration and other departments emphasized breakthroughs in intelligent perception and decision-making technologies for energy equipment, promoting the development of collaborative robots and humanoid robots [1] - The humanoid robot sector has been active recently due to significant commercial orders for domestic robot companies and the completion of a $1 billion financing round by the star robot company Figure [1] Group 2 - The computer ETF (159998) focusing on hard technology has seen a net inflow of 540 million yuan this year, ranking first among similar products [2] - Market sentiment towards the robot sector is long-term optimistic but cautious in the short term, with a focus on the potential of humanoid robots as embodiments of AI intelligence and the exploration of supply chain opportunities [2] - There is caution regarding the short-term performance and technological maturity of the humanoid robot sector, with the current A-share robot sector primarily following the trends of the Tesla supply chain, necessitating close attention to Tesla and Elon Musk's developments [2]

Core Insights - Alibaba Group's CEO, Wu Yongming, announced at the Yunqi Conference that by 2032, the energy consumption of Alibaba Cloud's global data centers will increase tenfold compared to 2022, indicating an exponential increase in computing power investment [1] - Following this announcement, Alibaba's stock price rose by 6.4% in the Hong Kong market, reaching its highest level since October 2021 [2] - Wu emphasized that large models represent the next generation of operating systems, and AI Cloud is the next generation of computing, with a shift from CPU-centric to GPU-centric computing paradigms requiring massive infrastructure [4] Investment Activity - Cathie Wood's Ark Investment Management has resumed its position in Alibaba, purchasing approximately $16.3 million worth of Alibaba ADRs across two ETFs on September 22, marking the first re-entry since September 2021 [5] - Ark Investment's initial investment in Alibaba dates back to 2014, shortly after the company's IPO, but there have been no recorded investments or proxy votes since September 2021 [5]

2025.09.24 本文字数：1015，阅读时长大约2分钟 作者 |第一财经 陈杨园 "AGI并非人工智能发展的终点，而是起点，它将迈向超越人类智能、能够自我迭代的超级人工智能 （ASI）。"9月24日，2025云栖大会开幕式上，阿里巴巴集团CEO吴泳铭发表主题演讲《超级人工智能 之路》，并作出了上述论断。 吴泳铭表示，过去三年，阿里看到的AI演进路线越来越清晰，AI的行业渗透率将超过历史上所有的技 术，阿里看到，token的消耗每两三个月会翻一番，AGI会具备人类通用认知能力在行业看来已经是确定 性的事情。 AGI并不是终点，吴泳铭认为，AI会经历三个阶段最终成长为超级人工智能。第一阶段是智能涌现，AI 学习人；第二阶段是AI自主行动，辅助人，我们刚刚处在这个阶段的开端，未来也许会有超过世界人 口的智能体和机器人和人类一起工作；第三个阶段是自我迭代，超越人，跨越到这个阶段需要两个要 素，AI将逐步连接几乎物理世界的所有场景和数据，模型能够自我学习、通过与真实世界的持续交互 获得新的数据实现自我迭代与智能升级。 吴泳铭相信，未来大模型将运行在所有计算设备中，基于此，阿里巴巴坚持开源路线，目标是打造AI 时代 ...

Market Overview - The A-share market showed positive momentum with the ChiNext Index rising by 1.76%, while the Shanghai Composite Index increased by 0.63% and the Shenzhen Component Index rose by 1.11% [1][2] - The total trading volume in the Shanghai and Shenzhen markets reached 1.41 trillion yuan, a decrease of 288.5 billion yuan compared to the previous trading day [1] Sector Performance - Semiconductor stocks experienced a significant rally, with the semiconductor sector rising by 15.74% and storage chips increasing by 5.00% [4] - Other sectors that performed well included BC batteries, cultivated diamonds, real estate, gaming, oil and gas, and photovoltaic equipment [2][4] - Conversely, sectors such as tourism and hotels, coal, and precious metals saw declines, with tourism and hotels down by 1.47% [4] Notable Stocks - In the Hong Kong market, Alibaba and SMIC both saw their stock prices increase by over 6%, while Kuaishou rose by over 4% [5] - Alibaba's stock price reached a nearly four-year high, with trading volume exceeding 17.5 billion Hong Kong dollars [6] Key Indices - The Hang Seng Technology Index expanded its gains to 2%, reflecting strong performance in technology stocks [5] - The Shanghai Composite Index was reported at 3845.91 points, with a gain of 24.08 points [2]

2025.09. 24 11:31 A股午盘｜创业板指涨1.76% 半导体芯片股集体大涨 沪 指 报 3845.91 点 ， 涨 0.63% ， 深 成 指 报 13265.01 点 ， 涨 1.11% ， 创 业 板 指 报 3169.4 点 ， 涨 1.76%。沪深两市半日成交额1.41万亿，较上个交易日缩量2885亿。全市场超4000只个股上涨，超 1200只个股下跌。 | 12 11 14 | | --- | | VI 183 跌 121 全A 1 | | | A股重要指数 | | | --- | --- | --- | | 名称 | 最新 涨跌 | 涨幅 | | 上证指数 | 3845.91 +24.08 | +0.63% | | 深证成指 | 13265.01 +145.19 | +1.11% | | 北证50 | 1566.81 +19.36 | +1.25% | | 创业板指 | 3169.40 +54.85 | +1.76% | 盘面上，半导体芯片股集体大涨，BC电池、培育钻石、房地产、游戏、油气、光伏设备板块涨幅居 前；旅游及酒店、煤炭、贵金属板块走低，银行股冲高回落。 | 板块名称 | ...

Group 1 - The core point of the news is the launch of Qwen3-Max, the largest and most powerful model to date by Tongyi Qianwen, indicating significant advancements in AI capabilities [1] - Alibaba Group's CEO, Wu Yongming, stated that by 2032, the energy consumption of Alibaba Cloud's global data centers will increase tenfold compared to 2022, highlighting a substantial rise in computational power investment [1] - Wu predicts that AI Cloud will represent the next generation of computing, with a shift from CPU-centric to GPU-centric computing, necessitating large-scale infrastructure and comprehensive foundational accumulation [1] Group 2 - On September 24, Alibaba's stock in Hong Kong rose nearly 6%, reaching its highest level since October 2021 [2] - There are 5 to 6 super cloud computing platforms anticipated in the market, indicating a competitive landscape in the cloud computing industry [3]

消息面上，通义千问 发布迄今为止规模最大、能力最强的模型Qwen3-Max。 同时， 阿里巴巴集团CEO、阿里云智能集团董事长兼CEO吴泳铭在云栖大会上表示，为了迎接ASI时代的到来，对比2022年这个GenAI的元年，到 2032年阿里云全球数据中心的能耗规模将提升10倍。这意味着阿里云算力投入将指数级提升。 吴泳铭预测，AI Cloud是下一代计算机。同时，他认为，算力正在从以CPU为核心的计算加速转变为GPU为核心，新的计算范式需要超大规模的基础设 施和全栈基础积累才能承载。未来，全世界也许只会有5到6个超级云计算平台。 9月24日盘中，港股阿里巴巴持续走高，截至发稿，涨近6%，股价创2021年10月以来新高。 | W | 阿里巴巴-W(9988) | | | | --- | --- | --- | --- | | 09-24 10:59:53 通 | | | | | 1 6 8 , 800 额 135亿 股本 190.73亿 市盈 '''' | 19.8 | | 万得 | | | | | 盘口 | | 9.400 5.90% 换 0.43% 市值 32195亿 市净 | 2.87 | | | | 人民 ...

(责任编辑：宋政 HN002) 格隆汇9月24日｜2025云栖大会9月24日在杭州举行。阿里巴巴集团董事兼首席执行官，阿里云智能集团 董事长兼首席执行官吴泳铭表示，大模型是下一代操作系统。AI Cloud是下一代计算机。未来全世界或 只会有5-6个超级云计算平台。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...