1月26日，证券时报记者获悉，阶跃星辰完成超50亿元人民币B+轮融资，刷新过去12个月中国大模型赛 道单笔最高融资纪录。参与机构包括上海国投先导基金、国寿股权、浦东创投、徐汇资本、无锡梁溪基 金、厦门国贸（600755）、华勤技术（603296）等产业投资人，腾讯、启明、五源等老股东进一步跟 投。 在同为AI大模型"六小虎"的智谱、MiniMax率先登陆港股后，阶跃星辰新一轮融资曝光。 值得关注的是，阶跃星辰同日宣布印奇正式出任公司董事长，负责公司战略节奏与技术方向的制定。他 将与阶跃星辰CEO姜大昕、首席科学家张祥雨、CTO朱亦博组成核心管理团队，推动基础大模型技术研 发和"AI+终端"商业闭环。 印奇是一名AI创业老兵，过去15年的AI行业历程算是完整经历了AI1.0和AI2.0阶段。此前，他创立旷视 科技，该公司快速跻身"AI视觉四小龙"之列。然而，旷视科技先后冲刺港股和A股IPO，最终均未果。 2024年11月，印奇当选为A股上市公司千里科技董事长，而今，其再次担任阶跃星辰董事长。 阶跃星辰表示，围绕汽车、手机及穿戴式、具身机器人等场景，公司正加快构建"AI+终端"商业化体 系。"基础大模型"与"AI ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 记者丨邓浩 董静怡 编辑丨巫燕玲 "百模大战"正在进入赛点，留在牌桌上的机会不多了。基模公司如何差异化竞争？上海基模独角兽阶跃 星辰给出了自己的答案。 1月26日，阶跃星辰官宣印奇正式出任公司董事长，负责整体战略节奏与技术方向的制定。值得一提的 是，印奇还是A股上市公司千里科技董事长。 两者合作，主要目的之一是加速'AI+车'战略落地。记者获悉，双方的关系是，阶跃星辰将潜心打造智 慧"脑"——AI Brain；千里科技则专注构建行动的 "身 "——终端载体。 截至26日收盘，千里科技涨4.35%，股价报12元/股，最新市值534亿元。 跑通商业闭环 近日，阶跃星辰官宣完成超50亿人民币B+轮融资，一举刷新过去12个月中国大模型赛道单笔最高融资 纪录。 其中，参与机构包括上国投先导基金、国寿股权、浦东创投、徐汇资本、无锡梁溪基金、厦门国贸、华 勤技术等产业投资人，腾讯、启明、五源等老股东进一步跟投。此轮融资将用于基础模型研发，打造全 球顶尖基座模型，加速AI+终端战略落地。 记者了解到，'基础大模型'与'AI + 终端'是阶跃星辰长期的战 ...

Core Viewpoint - The article discusses the competitive landscape of the AI model industry, highlighting the strategic moves of Jieyue Xingchen and its collaboration with Qianli Technology to accelerate the "AI + vehicle" strategy [2][4]. Group 1: Company Developments - Jieyue Xingchen announced the appointment of Yin Qi as chairman, who will oversee strategic direction and technology development [2]. - The company completed a B+ round financing of over 5 billion RMB, setting a record for the largest single financing in China's large model sector in the past 12 months [4]. - The financing will support foundational model research and the development of a top-tier base model, furthering the AI + terminal strategy [4]. Group 2: Strategic Partnerships - Jieyue Xingchen has formed deep collaborations with 60% of leading domestic smartphone brands, including OPPO and Honor, achieving a model installation volume of over 42 million units [5]. - In the automotive sector, Jieyue Xingchen partnered with Qianli Technology and Geely to launch the first end-to-end voice model in the AgentOS smart cockpit, with the Geely Galaxy M9 selling nearly 40,000 units within three months [5]. Group 3: Future Outlook - The company aims to deploy its large model in over one million vehicles this year [5]. - The core management team, including Yin Qi, CEO Jiang Daxin, and Chief Scientist Zhang Xiangyu, is expected to provide stronger leadership and direction for Jieyue Xingchen's next phase of growth [7]. - Qianli Technology is transitioning its core business towards smart technology, with a focus on AI integration in vehicles, which is seen as a significant growth area [8].

21世纪经济报道记者邓浩董静怡 "百模大战"正在进入赛点，留在牌桌上的机会不多了。基模公司如何差异化竞争？上海基模独角兽阶跃 星辰给出了自己的答案。 1月26日，阶跃星辰官宣印奇正式出任公司董事长，负责整体战略节奏与技术方向的制定。值得一提的 是，印奇还是A股上市公司千里科技董事长。 另一方面，则发力全模态（语音、图像等）和端云结合两大方向，推动模型从理解世界到主动交互探索 物理世界跨越。 2025年12月，阶跃星辰发布了行业内首款真正可部署的 GUI 开源模型，以端云结合方案支持手机、 车、电脑多端部署。 在应用侧，阶跃星辰在汽车、手机等核心消费场景迅速跑通商业闭环，展现出头部效应。据阶跃内部人 士透露，截至 2025 年年底，其终端 Agent API 调用量连续三个季度增长近170%。 两者合作，主要目的之一是加速「AI+车」战略落地。记者获悉，双方的关系是，阶跃星辰将潜心打造 智慧"脑"——AI Brain；千里科技则专注构建行动的 "身 "——终端载体。 截至午间收盘，千里科技上涨3.39%。 跑通商业闭环 近日，阶跃星辰官宣完成超50亿人民币B+轮融资，一举刷新过去12个月中国大模型赛道单笔最高融 ...

Core Insights - StepFun, a Shanghai-based AI startup, has completed a B+ round financing exceeding 5 billion RMB, with participation from various investment institutions and existing shareholders [1] - The funding will be used for foundational model development and to accelerate the implementation of the AI+ terminal strategy [1] - StepFun has announced the appointment of Yin Qi as the new chairman of the company [2] Company Strategy - StepFun's long-term strategic focus is on "foundational large models" and "AI+ terminal" [1] - The company has developed a core matrix of 1+2 in model research, focusing on language foundational models and multimodal models, achieving leading levels in these areas [1] - The company has released three generations of foundational models, with Step 3 achieving a new industry high in inference efficiency [1] Application and Market Penetration - StepFun is concentrating on the "AI+ terminal" strategy, successfully establishing commercial closed loops in key consumer scenarios such as automotive and mobile [2] - As of the end of 2025, the API call volume for its terminal intelligent applications has grown nearly 170% over three consecutive quarters [2] - The company has deep partnerships with 60% of leading domestic smartphone brands, with over 42 million units installed and daily services reaching nearly 20 million users [2] Automotive Sector - In the automotive sector, StepFun has collaborated with Qianli Technology and Geely to launch the first end-to-end voice model in the AgentOS smart cockpit [2] - The Geely Silver River M9, equipped with this technology, has sold nearly 40,000 units within three months of its launch and is expanding into overseas markets [2] - The company anticipates that over one million vehicles will be equipped with its large models this year [2]

浙江吉利控股集团是千里科技的主要股东之一，并主导推动奔驰参与投资。吉利已将其自动驾驶业务整合到千里科技，使其成为集团未来智能驾驶技术的核 心平台。 印奇表示，千里科技是一家 A 股上市公司，主要专注在"AI + 车"以及未来机器人的一些结合上。阶跃星辰专注在基础大模型的研发和商业化。 此外据智通财经报道，阶跃星辰（StepFun）完成超 50 亿人民币 B+ 轮融资，刷新过去 12 个月中国大模型赛道单笔最高融资纪录。参与机构包括上国投先 导基金、国寿股权、浦东创投、徐汇资本、无锡梁溪基金、厦门国贸、华勤技术等产业投资人，腾讯、启明、五源等老股东进一步跟投。本轮融资将用于基 础模型研发，加速 AI+ 终端战略落地。 综合IT之家此前报道，千里科技曾在 2025 年底宣布，千里智驾的核心业务与技术体系的战略整合工作已顺利完成。此次整合覆盖组织架构、技术平台、数 据体系与产品路线等多个方面的资源优化配置。 IT之家 1 月 26 日消息，阶跃星辰今日（1 月 26 日）宣布，印奇正式出任公司董事长，负责整体战略节奏与技术方向的制定。 印奇将与 CEO 姜大昕、首席科学家张祥雨、CTO 朱亦博组成核心管理团队。该公 ...

Core Insights - StepFun has completed a B+ round financing exceeding 5 billion yuan, with investors including various industry funds and existing shareholders like Tencent and Qiming [2] - The financing will be used for foundational model research and to accelerate the implementation of the AI+ terminal strategy [3] Group 1: Leadership and Management - Yin Qi has been appointed as the chairman of StepFun, responsible for overall strategic direction and technology [3] - Yin Qi has extensive experience in the AI field and is a first-generation AI entrepreneur, previously founding Megvii Technology [3] Group 2: Company Strategy and Development - StepFun aims to develop a top-tier foundational model and has already released three generations of foundational models, with Step 3 achieving industry-leading inference efficiency [4] - The company is focusing on multi-modal models and cloud-edge collaboration, targeting applications in automotive, mobile, and wearable devices [4] Group 3: Market Position and Collaborations - StepFun has established deep collaborations with 60% of leading domestic smartphone brands, with model installations exceeding 42 million units and daily services reaching nearly 20 million users [4] - The company has partnered with Qianli Technology and Geely to launch the AgentOS smart cockpit, with the Geely Galaxy M9 model achieving nearly 40,000 sales within three months of its launch [4]

全球大宗商品或迎来超预期周期 基金经理战略性增配有色化工品种 当国际金价距离5000美元/盎司仅一步之遥，当伦敦银现仅用两个月时间便实现翻倍，当铜铝铅锌锡上 演"元素周期表"行情，当硫磺价格一年翻倍、碳酸锂价格迭创新高……这一系列看似独立的市场脉冲， 正汇聚成一股时代洪流，预示着全球大宗商品市场正迈入新一轮超级周期。"这轮周期的持续强度和时 间，可能远超我们想象。"近日，多位基金经理向证券时报记者表达了类似的观点。在全球货币超发、 美元信用危机、技术革命创新需求、地缘冲突引发供应链重构等众多因素共振下，全球大宗商品可能迎 来一场远超市场预期的周期浪潮，而嗅觉敏锐的公募基金正闻风而动，将投资罗盘的指针拨向现代工业 的"血液"与"基石"——有色金属和基础化工，在定位这场全球商品盛宴历史坐标的同时，也寻找着浪潮 之下具体的产业掘金路径。（证券时报） 金价逼近五千美元关口 机构看好黄金后市表现 上周美元指数大幅下挫，黄金、白银等贵金属同步迎来大涨，其中黄金涨幅达8.4%，白银涨幅更是升 至14.4%。此前被市场视作高不可攀的5000美元/盎司关口如今近在咫尺，各大机构也纷纷上调黄金目标 价。高盛最新研报将2026年底 ...

同日阶跃官方宣布印奇正式出任公司董事长，负责公司战略节奏与技术方向的制定。"基础大模型"与"AI+终端"是阶跃长期坚定的战略选择。依托独 特的模型算法与系统能力，阶跃在语言基模、多模态模型及端云协同模型上已跑出世界领先水平。同时，围绕汽车、手机及穿戴式设备、具身机器 人等场景，阶跃正加快构建"AI+终端"商业化体系。 据科创板日报， 上海大模型创业公司阶跃星辰（StepFun）完成超50亿人民币B+轮融资，一举刷新过去12个月中国大模型赛道单笔最高融资纪录。 参与机构包括上国投先导基金、国寿股权、浦东创投、徐汇资本、无锡梁溪基金、厦门国贸、华勤技术等产业投资人，腾讯、启明、五源等老股东 进一步跟投。本轮融资将用于基础模型研发，打造全球顶尖基座模型，加速AI+终端战略落地。 ...

Core Insights - The company, Chip Origin Co., Ltd., reported a record high in new orders for the period from October 1 to December 25, 2025, amounting to 2.494 billion yuan, marking a significant increase of 129.94% year-over-year and 56.54% quarter-over-quarter [2] - The majority of new orders are for one-stop chip customization services, with over 84% related to AI computing power and nearly 76% in the data processing sector, highlighting the company's competitive strength in these core business areas [2] - The founder and chairman, Dai Weimin, indicated a shift in computing power layout from a cloud-centric model to a collaborative "cloud + edge + end" approach, driven by the evolution of AI applications [2] Industry Trends - Dai Weimin noted that while the demand for cloud-side training cards is rapidly increasing due to the large model era, the long-term growth will come from the need for inference and personalized fine-tuning on the terminal side [3] - Terminal-side fine-tuning and inference cards are expected to penetrate various applications, including smartphones, PCs, automotive terminals, and industry-specific devices, due to their advantages in privacy protection, real-time response, and cost control [3] - By 2028, it is anticipated that the number of foundational large models in China will be fewer than 10, leading to a concentrated market where top models leverage computing power, data, and ecosystem advantages, reinforcing the importance of terminal-side computing power products [3]