5月15日，阿里巴巴集团发布2025财年第四季度及全年（截至2025年3月31日止季度及年 度）财报。数据显示，"AI驱动"持续释放发展动能，阿里核心业务增长继续提速。 对比2024 财年同期，阿里云第四财季收入增速从3%提高到18%，AI相关产品收入连续七个季度实现三 位数增长。 与此同时，阿里继续加大回购力度。根据股份回购计划，阿里巴巴2025财年以119亿美元回 购了11.97亿股普通股，成为回购力度最大的中概股之一。同时，阿里宣布派发2025财年年 度股息和特别股息总计46亿美元，持续兑现提升股东回报的承诺。 在财报发布后的分析师电话会上，阿里巴巴集团CEO吴泳铭表示，阿里云持续深耕和保持行 业领先地位，近期中国工商银行正式选择阿里云PolarDB数据库作为其全行级交易型分布式数 据库，这代表着对业务性能和技术要求最严格的顶级金融企业对阿里云技术能力的认可。 "2026财年，我们将继续聚焦电商、'AI+云'的核心业务增长，面向中长期，塑造以科技为核 心动力的第二增长曲线。"吴泳铭说。 在电话会上，吴泳铭还分享了他对于AI两大最新趋势的预判：一是在大中型企业，AI应用开始 从内部系统向用户侧场景渗透；二 ...

◎记者 杨翔菲 林超 "一方面，在大中型企业，AI应用开始从内部系统向用户侧场景渗透；另一方面，积极使用AI产品的客 户，从大中型企业延展到大量中小企业。"5月15日晚，阿里巴巴集团CEO吴泳铭在财报电话会上分享了 AI领域的两大最新趋势。当日，阿里巴巴集团发布的财报数据显示，"AI驱动"持续释放发展动能，阿里 巴巴核心业务增长继续提速。 前一日，腾讯董事会主席兼首席执行官马化腾表示："AI投入将为用户与社会创造价值，并为公司产生 长期、可观的增量回报。" 随着AI技术的快速突破和应用加速落地，互联网行业正迎来新的增长动力。头部科技公司凭借在AI领 域的前瞻性布局和海量数据积累，有望引领产业智能化变革。 5月15日，阿里巴巴集团发布2025财年第四季度及全年（截至2025年3月31日的季度及年度）财报。第四 财季，阿里巴巴营收为2364.54亿元，同比增长7%。"AI驱动"持续释放发展动能，公司核心业务增长继 续提速。对比2024财年同期，阿里云第四财季收入增速从3%提高到18%，AI相关产品收入连续七个季 度实现三位数增长。 受AI热潮推动，2025财年阿里云收入达到1180亿元，同比增幅达到11%。据市场 ...

郭彦东预测通用机器人的"iPhone时刻"将在5至7年后到来。 这一预测和百万台产能目标，是基于清醒的行业洞察，还是在 资本与舆论裹挟下的理想化宣言？ 作者：郑晨烨 封图：图虫创意 "到2033年，拓展至百万台规模，覆盖工业、物流、家庭服务等多元化场景。"近日，智平方（深 圳 ） 科 技 有 限 公 司 （ 下 称 " 智 平 方 " ） 创 始 人 兼 CEO 郭 彦 东 ， 在 公 司 新 一 代 通 用 智 能 机 器 人 AlphaBot 2的发布会上掷出了这句豪言。 对于一家成立刚满两年的初创企业而言，在商业化前景尚未十分明朗的具身智能赛道，立下如此具 体的目标，实属罕见。 从履历上看，郭彦东曾是微软美国总部核心AI团队成员，任职期间主导开发了多款 AI 前沿技术和 产品，其中Custom Vision服务是全球范围内首次将"预训练模型+场景微调"商业化的实践尝试，为 AI技术的大规模应用打开了新思路。 他还在小鹏汽车和OPPO担任过首席科学家和研发高管，这名技术和产业"老兵"，选择在人工智能 大模型爆发的节点时刻切入机器人赛道，其核心思考逻辑是"将AGI（通用人工智能）从数字世界 拓展到物理世界" ...

Core Insights - The company aims to expand its production capacity to one million units by 2033, targeting diverse applications in industrial, logistics, and home services [2][31] - The CEO, Guo Yandong, emphasizes the integration of software and hardware, with a focus on self-developed AI models to drive the capabilities of their robots [3][9] - The company is positioned in the emerging field of embodied intelligence, aiming to transition general artificial intelligence (AGI) from the digital realm to physical robots [4][5] Technology and Innovation - The GOVLA model is claimed to be the world's first all-encompassing VLA (Vision-Language-Action) model, enabling robots to understand and interact with dynamic environments [13][14] - The company focuses on creating robots that can autonomously navigate and perform tasks in real-world settings, moving beyond traditional automation tools [14][15] - The technology aims to achieve robustness and generalization across various industries, addressing the challenges of adapting to different environments without extensive reprogramming [7][8] Business Model and Strategy - The company adopts a "robot as a service" model, providing comprehensive solutions rather than just selling hardware [27][11] - It plans to validate its business model through early revenue generation in high-value industrial sectors such as semiconductors and automotive manufacturing [24][11] - The strategy includes self-building production lines to maintain control over product quality and cost, avoiding reliance on external suppliers [31][32] Market Position and Future Outlook - The CEO predicts that the "iPhone moment" for general-purpose robots will occur in 5 to 7 years, driven by technological advancements and decreasing costs [28][29] - The company aims to leverage China's robust supply chain and diverse application scenarios to establish a competitive edge in the global market [34][35] - The focus on core technology development and understanding market needs is seen as crucial for the company's success in the competitive landscape of embodied intelligence [36][35]

近日，由中国科学院孵化的中科紫东太初（北京）科技有限公司宣布完成首轮数亿元融资。本轮融资由 知名硬科技投资机构中科创星领投，粤民投、武汉同为、中财金控、长兴基金等多家投资机构跟投。此 次融资由产业发展战略伙伴中科融合创新加速器担任财务顾问，融资资金将用于公司在多模态人工智能 技术研发与应用，致力于通用人工智能（AGI）使生活更加美好，同时加强在"人工智能+"领域进行深 层次、宽领域、多维度的产业布局，加速科技成果向现实生产力转化。 2025年5月，紫东太初入选2025年福布斯中国人工智能科技企业TOP 50，董事长王金桥获评2025福布斯 人工智能影响力人物。 此次融资的完成，既是对中科紫东太初技术积淀与产业实践的双重认可，也是对其未来发展注入强劲动 能。公司将以此为契机，持续加码核心技术研发投入，以科技创新为驱动，为我国人工智能产业高质量 发展贡献更多突破性成果与实践经验。 作为多模态大模型国家队，中科紫东太初承载着国家重大战略使命。基于全栈国产化基础软硬件体系， 中科紫东太初打造的自主可控通用人工智能大模型，已成为赢得全球科技竞争主动权的关键力量，彰显 紫东太初国之重器的重要战略定位。 中科紫东太初董事长 ...

Core Insights - Fourth Paradigm (06682.HK) reported a total revenue of RMB 1.077 billion for Q1 FY2025, marking a year-on-year growth of 30.1% [2] - The gross profit reached RMB 444 million, also reflecting a 30.1% increase, with a gross margin of 41.2% [2] - The core business, the Prophet AI platform, generated revenue of RMB 805 million, showing a significant year-on-year growth of 60.5% [2] Business Expansion - The Prophet platform underwent a major upgrade, introducing an AI Agent full-process development platform, allowing enterprise clients to integrate over 150 mainstream large models [3] - The platform includes a comprehensive suite of AI applications covering various enterprise scenarios such as AIGC, intelligent office, digital employees, and more [3] - The AI Agent has been implemented in over 14 industries, including finance, aviation, automotive, healthcare, and retail [3] Revenue Breakdown - The SHIFT intelligent solutions business generated RMB 212 million, accounting for 19.7% of total revenue, despite a year-on-year decline of 14.9% [4] - The AIGS service revenue was RMB 60 million, representing 5.6% of total revenue, with enhancements in programming Agent capabilities [4] Strategic Focus - The company is focusing on enhancing the core capabilities of the Prophet AI platform and the deployment of enterprise-level Agents, leading to a strategic resource reallocation [4] - The company has established a dual-core business structure, maintaining its enterprise services while launching a consumer electronics segment, Phancy, which focuses on integrated AI Agent solutions [6] - Phancy has released several user-level Agent solutions aimed at improving daily work efficiency for enterprise users [6]

Core Viewpoint - The company has demonstrated strong revenue growth in the context of accelerated AI development, with significant advancements in its core business and product offerings [1][2]. Financial Performance - For Q1 2025, the company's total revenue reached RMB 1.077 billion, marking a year-on-year increase of 30.1% [1]. - Gross profit for the same period was RMB 444 million, also reflecting a 30.1% year-on-year growth, with a stable gross margin of 41.2% [1]. - The revenue from the company's XianZhi AI platform amounted to RMB 805 million, showing a remarkable year-on-year growth of 60.5%, accounting for 74.8% of total revenue [1]. Research and Development - The company invested RMB 368 million in R&D during the period, which is a 5.7% increase compared to the previous year [2]. - The R&D expense ratio was 34.2%, down 8 percentage points year-on-year, indicating efficient resource utilization while maintaining innovation [2]. Customer Base and Engagement - The number of benchmark users reached 59, reflecting a diversified customer base [2]. - The average revenue contribution from benchmark users was RMB 11.67 million, which represents a year-on-year increase of 31.3% [2]. Strategic Developments - The company is undergoing a group and brand upgrade, with the establishment of Paradigm Group, where its enterprise service business (4Paradigm) will become a core subsidiary [3]. - The new consumer electronics division, Phancy, aims to provide AI agent-based hardware and software solutions, facilitating easier integration of AI capabilities for various electronic manufacturers [3].

Core Insights - Alibaba Group reported significant growth driven by AI in its Q4 and full-year financial results for FY2025, with a focus on AI and cloud as new growth engines [1][5] Financial Performance - Alibaba Cloud revenue grew by 18% year-over-year, with external revenue increasing by 17%, and AI-related product revenue achieving triple-digit growth for seven consecutive quarters [2] - The total revenue for Alibaba Cloud for the fiscal year surpassed double-digit growth [2] E-commerce Performance - Taobao and Tmall exceeded expectations with strong new buyer growth, achieving over 50 million 88VIP members, and a 12% year-over-year increase in customer management revenue [3] - The company is enhancing user experience and supporting merchants to provide high-quality products and services, creating new growth opportunities [3] International Business - Alibaba's International Digital Commerce Group saw a 22% year-over-year revenue increase, driven by strong performance in cross-border business [4] AI Investment and Strategy - The company plans to invest over 380 billion yuan in AI and cloud infrastructure over the next three years to meet growing AI demand [5] - Alibaba is accelerating the application of AI across various industries, collaborating with both large enterprises and SMEs, which supports the long-term goal of achieving Artificial General Intelligence (AGI) [5]

一、通用人工智能（AGI）技术不确定性的治理黑洞 最近在前沿生成式人工智能模型上的突破，让许多人断言，人工智能将对国家安全产生同等的影响—— 也就是说，AGI将如此强大，以至于第一个实现它的实体将拥有重大的、也许是不可逆转的军事优势。 全球领先的 AI 实验室都在积极追寻通用人工智能（AGI）。这些实验室主要依靠经验性的"规模法 则"——即模型性能随计算量增加而提升——不断加大投入，用于训练模型所需的计算资源。该技术可 能在未来十年内触发多重战略转折点。 然而，如果性能确实能随计算量增加而提升，AGI 的技术突破门槛又在哪里，甚至这种突破是否可能 通过这种方法实现，都不得而知。也就是说，与1945年核裂变的技术确定性不同，AGI的发展路径存 在"内生性不确定性"（Endemic Uncertainty）。 1. 技术路径模糊：主要依赖"算力扩展定律"（Scaling Laws），但无法确认持续投入是否必然导向 AGI，算力投入与AGI突破的因果关系尚未明确； 2. 临界点不可知：开发团队可能直到突破发生后才能识别AGI的达成； 3. 社会影响混沌：末日论者呼吁暂停研发或加速军备竞赛，怀疑论者则质疑现有技术范式 ...

佰维存储已正式推出适用于机器人领域的eMMC、LPDDR4X/5/5X、UFS、BGA SSD等产品，正在进行市场推 广。 | | | 4月19号，北京亦庄机器人半马正式举行，这是人类首次与机器人的同场竞技，其意义不亚于100多年前 马车与汽车的首次竞赛。 参赛的20支队伍当中，既有天工这样的成熟公司，也有更多不知名的初创公司和在校学生团队。 多姿多彩的队伍和人们的热情体现了全民对于人形机器人的关注。 长期以来，人形机器人总是停留在实验室里或者是出现剪辑的视频片段中，这次现场直播的机器人半马 可以说对产业进行了更多的曝光，一定程度上加速了产业的进化。 据报道，在北京亦庄机器人半马上获得第二名的松延动力，其"小顽童"N2型机器人实现了爆单，排单已 经排到11月份交付。定价上，N2定价3.99万元，在一众大几万到几十万的人形机器人当中也显得很有竞 争力。 蓬勃发展的人形机器人 事实上，很多专业机构都把今年定义为人形机器人走量的元年。根据TrendForce集邦咨询最新数据，已经 有11家人形机器人本体厂商启动量产计划，其中6家规划超千台。 这其中不乏一些我们经常听说的一些名字：宇树科技、优必选（09880.HK） ...