Today I want to talk about building the future with design matters and want to talk about this kind of insights and future trends as well for this year. I want to focus on how we solve the customer's problem and less about ourself. So I want to start off with something huge because for a lot of us we know about AGI or artificial general intelligence.I think it's basically means that um we want to have AI that's uh achieving the the level of intelligence comparable to human and also maybe even surpass human ...

Core Viewpoint - Nvidia has faced significant stock volatility in 2025, with a year-to-date decline of 15%, primarily due to concerns over potential demand reduction for its data center chips amid tariff implications [1][9] Group 1: Tariff Impact and Customer Spending - Although semiconductors are exempt from aggressive tariffs, Nvidia's customers may still experience increased costs, potentially leading to reduced capital expenditures [2] - Major customers like Meta, Microsoft, Alphabet, and Amazon have provided positive updates on their AI spending plans for 2025, indicating continued demand for Nvidia's chips [2][12] - Meta raised its 2025 capex forecast to $64 billion to $72 billion, Microsoft plans to spend around $80 billion, Alphabet maintains a $75 billion forecast, and Amazon is set to spend approximately $105 billion [12] Group 2: Nvidia's Technological Advancements - Nvidia's H100 GPU was the leading AI data center chip in 2023 and most of 2024, but has been succeeded by the more advanced Blackwell and Blackwell Ultra architectures, with the latter offering up to 50 times faster AI inference in specific configurations [4][6] - The upcoming Rubin GPUs, expected in 2026, are projected to deliver 3.3 times more compute performance, further enhancing Nvidia's position in the AI market [7] Group 3: Market Position and Future Growth - Nvidia generated $115.2 billion in data center revenue for fiscal 2025, marking a 142% increase from the previous year, with predictions of data center spending exceeding $1 trillion annually by 2028 [14] - Demand for Nvidia's chips currently exceeds supply, making it difficult for companies to cancel orders without risking a competitive disadvantage in AI [16] - Nvidia's stock is viewed as a buying opportunity, trading at a P/E ratio of 39, significantly lower than its 10-year average above 50 [11]

Alibaba released the next generation of its open-sourced large language models, Qwen3, on Tuesday — and experts are calling it yet another breakthrough in China's booming open-source artificial intelligence space. In a blog post, the Chinese tech giant said Qwen3 promises improvements in reasoning, instruction following, tool usage and multilingual tasks, rivaling other top-tier models such as DeepSeek's R1 in several industry benchmarks. Qwen3 is Alibaba's debut into so-called "hybrid reasoning models," wh ...

作者：Cage、Yongxin、Siqi 编辑：Siqi DeepSeek R1 催化 了 reasoning model 的竞争：在过去的一个月里，头部 AI labs 已经发布了三个 SOTA reasoning models：OpenAI 的 o3-mini 和deep research， xAI 的 Grok 3 和 Anthropic 的 Claude 3.7 Sonnet。 随着头部 Al labs 先后释出自己的 reasoning model，新范式的第一轮竞赛暂时告一段落。 各家 reasoning model 各有长板，但都没有拉开大的领先优势：OpenAI 和 xAI 有着最强的 base model 和 竞赛解题能力，Anthropic 更关注真实世界的工程问题，Claude 3.7 Sonnet 的混合推理模型可能会成为 之后各家发布新模型的标准操作。 在这一波新模型密集发布后的间隙，我们对已有的 reasoning models 发布进行了总结梳理，除了平 行比较各些模型的实际能力和长板外，更重要的目标是识别出本轮发布中的关键信号。 整体上，我们还处于 RL Scaling 的早期 ...