北京商报讯（记者 陶凤 王天逸）2月20日，极智嘉宣布，聘请清华大学智能产业研究院 (AIR) 助理教 授、博士生导师、智源学者 (BAAI Scholar) 赵昊，出任其具身智能子公司首席科学家。 公司称，此举旨在通过引入顶级学界大脑，攻克物理AI在非结构化环境中的应用难题，构建核心技术 领导力，更是极智嘉持续加码具身智能研发投入的明确信号。 ...

一水 发自 凹非寺 量子位 | 公众号 QbitAI 10亿融资，50亿估值。 这就是李飞飞创业公司 World Labs 最新交出的答卷。 今年1月，这家炙手可热的世界模型创业新星就被传出可能正在进行一轮5亿美元新融资，但最终结果却远超预期—— 不是5亿，而是10亿美金 （约合人民币69亿元） ，而且这一轮AMD、英伟达、富达等都投了。 加上本轮融资，成立于2024年4月的World Labs可谓成长飞速—— 不到两年时间，估值从最初的10亿美金直接翻了5倍 。 就这么说吧，可能最接近World Labs融资速度的Anthropic，也花了25个月才达到50亿美元估值。 这速度，你品，你细品。 不到两年，估值一路飙升 进入2026，谁都知道世界模型很hot，但看到World Labs成长如此之快，人们或许才对这一点有了更多实感。 短短一年多时间，这家公司经历了5倍重估。 虽然这里面不乏AI教母李飞飞带来的光环效应，但不得不说，投资者对世界模型的押注决心，比预想中来得更早、也更猛。 这一点，从World Labs本轮投资阵容也可一窥。 根据官方公告，本轮融资吸引了AMD、Autodesk、Emerson Co ...

前Meta公司AI负责人杨立昆（Yann LeCun）也创立了一家"世界模型"初创公司AMI Labs。杨立昆认 为，目前市面上的机器人缺乏对物理世界的基础模型理解，教会AI 理解物理世界的能力至关重要。 谷歌DeepMind也在积极开发世界模型，该公司的Genie模型可以生成和模拟三维环境。 当地时间2月18日，人工智能先驱之一的华人科学家李飞飞创立的AI初创公司World Labs宣布在新一轮 融资中筹集了10亿美元，用于推动所谓的"世界模型"的研发。 在这轮融资中，软件公司欧特克向World Labs投资了2亿美元，其他投资方还包括英伟达以及AMD。尽 管World Labs没有透露估值，但市场预估该公司的估值约在50亿美元。 去年年底，World Labs推出了首个空间智能产品Marble。该公司将Marble描述为一种可以根据图像或文 本提示生成三维世界的基础模型，通过处理来自周围物理环境的视觉数据，开发出高级推理的能力。 借助这笔新融资，World Labs将把重点放在提升机器人和科学发现等领域的应用能力。李飞飞表示，空 间智能模型在未来可以用于增强现实和虚拟现实或机器人。 World Labs" ...

Cognex Corporation Conference Call Summary Company Overview - **Company**: Cognex Corporation - **Industry**: Industrial Technology, specifically focusing on machine vision and factory automation Key Points and Arguments Demand and Market Conditions - Cognex is emerging from a pronounced down cycle, with the last peak occurring in 2021 or 2022, followed by a significant downturn in 2023 and a flat outlook for 2024. The company anticipates organic growth in 2025 at a mid-single-digit rate [4][5] - There is positive momentum in demand, particularly in factory automation end markets, with strong year-end demand in Q4 2025 contributing to a positive outlook for Q1 2026 [5][6] - Customer sentiment is improving globally, with a noted uptick in the U.S. PMI, although caution is advised as the sustainability of this growth is still uncertain [6] Revenue Baseline and Growth Projections - Cognex reported $994 million in revenue for 2025, but after accounting for one-time effects and portfolio optimization, the adjusted baseline revenue is approximately $965 million [7][8] - Projected revenue for 2026 is estimated to be between $1.015 billion and $1.035 billion, assuming a growth rate of 5%-7% [8] Key End Markets - **Logistics**: Accounts for 26% of revenue in 2025, with expectations of mid-single to high-single-digit growth in 2026 due to automation of existing facilities rather than new facility additions [12][13] - **Semiconductors**: This market has become a significant revenue contributor, with growth driven by underlying capacity expansion. Cognex expects continued growth in this sector, particularly for high-bandwidth memory chips [19][20] - **Consumer Electronics**: Experienced unexpected double-digit growth in 2025, driven by a broad base of customers and global supply chain shifts. Future growth will depend on consumer adoption of new form factors [22][23] - **Factory Automation**: Growth is primarily driven by penetration into existing markets rather than new capital expenditures. The packaging segment remains stable and is expected to benefit from new AI tools [27][28] - **Automotive**: The market is stabilizing, with North America showing small growth while Europe continues to decline. The removal of automotive headwinds is expected to positively impact overall growth [29] Cost Management and Margin Expansion - Cognex has raised its margin target from 20%-30% to 25%-31% due to successful execution and confidence in future performance [36] - The company is focusing on cost-saving initiatives, particularly in SG&A and R&D, with the potential to reduce R&D expenses from mid-teens to low-teens as a percentage of revenue [44] AI Integration - Cognex has been an early adopter of AI, integrating it into its products and operations. The company views itself as a leader in the AI space, with AI-enabled products launched since 2022 [38][39] - AI is being utilized internally for cost savings, including AI-assisted coding and automation in customer service and lead generation [46] Cash Management and Future Outlook - Cognex is focused on internal investments with excess cash, indicating a strong commitment to growth and development [47] Additional Important Insights - The company does not provide annual revenue guidance but focuses on broader market trends and economic indicators to inform its outlook [10] - Cognex's sales force transformation aims to efficiently target a broader market while maintaining a unified sales organization [43] - The company is monitoring memory price inflation but does not view it as a significant risk to margins, focusing instead on supply availability [32][34] This summary encapsulates the key insights from the Cognex Corporation conference call, highlighting the company's market position, growth expectations, and strategic initiatives.

格隆汇2月18日｜巴克莱的分析师团队表示，人工智能驱动的机器人及自主机器市场规模到2035年有望 激增至万亿美元级别。分析师周二在题为《机器人的十年》的报告中指出，技术相对成熟的自动驾驶汽 车将率先领跑，其次是无人机，然后是复杂度更高的通用人形机器人。巴克莱主题固定收益研究主管 Zornitsa Todorova领衔的团队表示，大脑、体魄和电池的进步正推动人工智能赋能的机器人迈向拐点， 并为未来十年设定投资方向。机器人及其他现实世界物理AI的发展标志着从以数字为中心的范式转 变，这将为比第一波AI产品更加多元和更深层次的价值链奠定基础。 ...

Group 1: Market Overview - The A-share market has shown a steady upward trend since the beginning of 2026, with over 90% of actively managed equity funds achieving positive returns [2][9] - As of February 13, 2026, 4,283 out of 4,706 active equity funds reported positive growth since the start of the year, with 103 funds achieving over 20% growth [2][9] - The macroeconomic environment is expected to support the market, with a stable growth rate anticipated for the year, aiding in corporate profit recovery [3][10] Group 2: Policy and Economic Support - The domestic economic growth rate is projected to remain stable in 2026, with policies focusing on supporting demand and reducing financing barriers for private enterprises [3][10] - The government aims to promote the development of emerging industries while facilitating the digital transformation of traditional sectors [3][10] - Expectations for policy support are likely to increase post-holiday, which may enhance market liquidity and risk appetite [3][10] Group 3: Investment Opportunities - The humanoid robot sector is gaining significant attention, with several companies preparing for IPOs, indicating a maturation of the industry [5][12] - The humanoid robot market is projected to see substantial growth, with an estimated 2 million units expected in workplaces by 2035 [5][12] - Other sectors such as semiconductors, artificial intelligence, and global expansion are also attracting investment interest, with a focus on innovation and market integration [6][13][15] Group 4: Sector-Specific Insights - The humanoid robot industry has seen large-scale orders primarily from government and service sectors, with a notable decrease in core component prices [5][12] - The semiconductor industry is entering a phase of innovation, with significant investments expected to yield results in key processes and materials [7][13] - The "outbound" capability of companies is becoming a critical source of alpha, as firms successfully expand into global markets despite domestic challenges [14][15]

Core Insights - Barclays Bank's latest report indicates that the AI-driven robotics and autonomous machines market is expected to expand to a trillion-dollar scale by 2035, marking a significant leap from its current size and becoming one of the most promising investment themes for the next decade [1] Group 1: Market Growth and Trends - The report titled "The Decade of Robotics" highlights that autonomous vehicles, a relatively mature sector, will lead the growth, followed by drones, and eventually more complex humanoid robots [1] - The report emphasizes a stepwise increase in automation levels and application complexity, driven by advancements in computing power, mechanical systems, and energy systems [1] Group 2: Regional and Sectoral Dynamics - China currently dominates the deployment of humanoid and industrial robots, but Barclays anticipates that nearly 200 listed companies will deeply engage in this theme over the next decade, with about 100 having issued corporate bonds [2] - Traditional automotive manufacturers are expected to become significant players, while the deployment of robotic systems in warehousing, logistics, and retail will continue to accelerate [2] Group 3: Key Players and Supply Chain - Notable companies mentioned include Mercedes-Benz, which is utilizing NVIDIA's Omniverse platform for virtual factory transformations, and Tesla, which has identified robotics as a core focus in its latest earnings call [2] - Key upstream players providing foundational software and hardware for robotics and physical AI include TSMC, Samsung Electronics, and NVIDIA, along with battery manufacturers like EVE Energy and CATL [2] Group 4: Application Trends - The application of physical AI is already evident in large logistics and retail systems, with Amazon deploying over 1 million robots in its fulfillment network, indicating that this scale may only represent a small fraction of long-term potential [3] - Similar trends are emerging in the operations of major retailers like Walmart, further validating the expansive prospects of the robotics and autonomous machines market [3]

Group 1 - The U.S. and Iran have made progress in nuclear negotiations in Geneva, with Iran planning to submit a new proposal in two weeks, indicating a lower likelihood of military conflict in the near term [4][6][21] - Iran has reached a general consensus with the U.S. on the basis of a potential nuclear agreement that would lift sanctions on Tehran and reduce the risk of war in the Middle East [6][21] - The proposed increase in New York City's property tax by 9.5% is the first in over two decades, aimed at addressing a budget shortfall of approximately $5 billion, affecting over 3 million residential units and over 100,000 commercial units [8][23] Group 2 - Apple is accelerating the development of three new AI-driven wearable devices: smart glasses, a pendant, and AI-enhanced AirPods, all designed to work with Siri and integrate with iPhones [10][26] - Meta has expanded its partnership with NVIDIA to incorporate millions of AI chips in its data centers, marking the first large-scale independent deployment of NVIDIA's Grace CPU [12][28] - Anthropic has launched a new AI model, Claude Sonnet 4.6, which enhances computer operation capabilities, allowing for more complex tasks such as filling out web forms and coordinating information across multiple browser tabs [15][30] Group 3 - Barclays analysts predict that the market for AI-driven robotics and autonomous machines could reach a trillion-dollar scale by 2035, with self-driving cars leading the way, followed by drones and more complex humanoid robots [17][33] - The advancements in AI-enabled robotics signify a shift from a digital-centric paradigm to a more diverse and deeper value chain in the coming decade [17][33]

作者：是地理空间 AI 公司 Niantic Spatial 创始人兼 CEO，在科技与地图交叉领域深耕 25 年，主导开发 了《宝可梦 GO》、谷歌地图、谷歌地球及 Keyhole 地球查看器等产品。 四年前，元宇宙概念正流行时，我曾发文称它是一场反乌托邦噩梦。我当时主张，与其沉浸虚拟世界， 我们更应多与身边的现实世界联结。 时间会证明元宇宙最终能否成真，但 2024 和 2025 年，全球商务与休闲旅行、线下活动参与度均已超过 疫情前水平，这很明显说明：人类本就不该活在头显设备里。 转眼到今天，有人正试图打造这样一个世界：内容越来越不来自朋友，甚至不来自人类网红，而是直接 由 AI 模型生成 —— 一种经过工程化制造的像素与波形，只为抓住你的注意力，直到下一条广告出 现。 短短几年前，先进 AI 刚崭露头角时，人们对未来充满热情：一个人类繁荣的未来，医疗、材料、制 造、机器人技术的突破性进步将让世界变得更好，提升地球上所有人的生活质量。 我认为现在有理由问一句：我们真的在朝这个方向走吗？我们对 AI 的巨额投资中，有多少会真正用于 改善人类生存状况，又有多少会被用来制造更精巧的娱乐与分心手段？ 为什么这件 ...

Group 1 - The core event featured humanoid robots from Yushu Technology, showcasing their capabilities on the stage of the Spring Festival Gala, equipped with Hesai's JT128 LiDAR technology [1] - The performance included synchronized movements of multiple robots, demonstrating advanced coordination and precision, with the ability to perform complex actions like flips and martial arts [5][7] - The collaboration between Yushu Technology's AI algorithms and Hesai's LiDAR technology effectively addressed motion error accumulation, ensuring seamless execution of the performance [9] Group 2 - Hesai Technology's JT series LiDAR has achieved cumulative deliveries exceeding 200,000 units, becoming a popular choice for humanoid robots and facilitating their transition from laboratories to households [13] - Hesai Technology is recognized as a leader in three-dimensional perception technology, driving advancements in robotics, autonomous driving, and smart industries, while also contributing to the foundational infrastructure of physical AI [17] - The integration of LiDAR technology is becoming a standard safety feature in vehicles and is igniting the next wave of physical AI innovations, with Hesai Technology committed to partnering with firms like Yushu Technology for future developments [17]