风险提示：技术进展不及预期；客户拓展不及预期；行业竞争加剧。 这意味着AI 生成视频正从技术创新转向内容生态与收益结构的重构。 2）随着AI 生成内容比例快速提升，预计媒体与娱乐产业的盈利模式将逐步转向碎片化。据英伟达 Media2 官网数据，AI 正在加速变革3 万亿美元的全球媒体与娱乐市场。低成本、高频率的AI 视频将在 短视频与社交平台形成新的传播与变现体系，版权确权、收益分账的平台将成为支撑创意产业生态可持 续发展的基础设施。具备AI 版权管理和确权交易能力的平台型企业如阜博集团望在这一变革中迎来长 期成长机遇。 开发Vobile MAX 与DreamMaker 两大平台，构建AI 时代核心竞争力。1）面对AI 技术演进公司推出两 大核心平台：Vobile MAX 是数字内容资产贸易与确权平台，提供内容登记、确权、分发、数据洞察与 跨平台收益管理，帮助内容方实现资产化运营和灵活分润。DreamMaker 则定位为基于AI 大模型的多模 态创作平台，整合文本转视频、图像生成、音乐制作等能力，依托英伟达生Me态d，ia2支持内容自动 确权、一键分发及收益追踪。公司将此前服务大型内容方的能力平让台个化人，与 ...

为了争夺有限的GPU，OpenAI内部一度打得不可开交。2024年总算力投入70亿美元，但算力需求依旧是无底洞。恰恰，微软发布了全球首台 GB300超算，专供OpenAI让万亿LLM数天训完。 过去一年，OpenAI在算力上斥资70亿美元。 其中，大模型研发占了最大头——50亿美元，而推理计算仅用了20亿美元。 如今，甲骨文、英伟达、AMD等芯片巨头/云服务巨头，纷纷与OpenAI联结，能够解其燃眉之急。 这不，就连曾经最大的「金主爸爸」微软也上阵了。 纳德拉官宣，全球首个配备4600+ GB300的超算率先上线，专攻OpenAI。预计，未来将扩展到十万块GPU。 英伟达称，这一算力巨兽，可以让OpenAI不用数周，仅在数天内训练万亿参数模型。 可见，LLM训练正吞噬无尽的算力，这也是OpenAI最近一直在大举扩展超算建设与合作的重要原因。 采访中，OpenAI总裁Greg Brockman坦言，「内部如何分配GPU，简直就是一场痛苦与煎熬」。 OpenAI各个团队争抢GPU，那叫一个激烈。最头疼的是，如何去合理分配。 全球首台GB300超算，数天训出万亿LLM 就在昨天，微软Azure宣布成功交付了，全球首 ...

证券研究报告 | 公司点评 gszqdatemark 2025 10 11 年 月 日 阜博集团（03738.HK） 多模态 AI 受益者 数字版权保护与交易业务持续深化扩展，业绩高速增长。阜博集团是全球 领先的数字内容资产保护与交易 SaaS 服务商，通过 AI 技术和 Web3 数字 基础设施建设，持续强化数字确权与交易能力，推动创意内容在 AI 时代 的高效保护与流通。1）业绩方面公司两大核心业务稳健增长。2025 上半 年订阅服务收入达 6.1 亿港元，同比增长 11.8%，主要得益于在微短剧、 音乐、动漫及平台侧的多场景落地，包括与头部短剧平台、报业、广电和 UGC 平台的 API 深度合作。2025 上半年增值服务收入达 8.46 亿港元，同 比增长 33.3%。公司为客户内容在 YouTube、Facebook、Instagram 等平 台提供确权、分账与运营支持。AI 推动二次创作内容增长显著，带动活跃 资产和收益同步扩张。上半年社交媒体平台在管活跃资产达 429 万个，同 比增长超 25%。新增国际影业集团频道 13 个，贡献新增订阅用户约 1050 万。2）资本布局方面，2025 年 4 ...

Investment Rating - The investment rating for the computer industry is "Positive" (maintained) [1] Core Insights - The release of OpenAI's Sora2.0 marks a significant advancement in video generation technology, indicating a pivotal moment for AI applications [5] - OpenAI's $1 trillion expansion plan for AI computing infrastructure is expected to drive demand for AI computing power, particularly with the increased requirements of multimodal models [6] - The report maintains a strong outlook for the AI industry in 2025, highlighting several companies as beneficiaries of this trend [7] Summary by Sections Industry Trends - The computer industry is projected to outperform the overall market, with a focus on the rise of AI applications and computing power [1][7] - The Sora2.0 model is seen as a leap forward in video generation capabilities, surpassing previous models and gaining significant user traction [5] Key Developments - OpenAI's Sora2.0 requires substantial GPU resources for training and inference, indicating a shift towards more demanding AI applications [6] - The partnership between OpenAI and Nvidia aims to establish a robust AI data center infrastructure, further enhancing the industry's growth potential [6] Investment Recommendations - Recommended companies in the computing power sector include Haiguang Information, Zhongke Shuguang, and Inspur Information, among others [7] - AI application companies such as Kingsoft Office and iFlytek are also highlighted as potential investment opportunities [7]

Core Insights - The report by CRIF highlights the significant growth and strategic importance of Generative AI (GenAI) by 2025, with enterprise spending projected to surge from $2.3 billion in 2024 to $13.8 billion [1] - It emphasizes the shift from experimentation to implementation in the AI sector, with 50.8% of global venture capital directed towards AI companies [1] Group 1: Key Trends in GenAI - **Agentic AI** is identified as a critical direction, capable of autonomous decision-making and situational awareness, expected to handle 15% of routine organizational decisions by 2028, with applications in healthcare, finance, and logistics [1] - **Multimodal AI** is recognized as an important evolution, integrating various data types such as text and visuals, with potential applications in healthcare, finance, and education, though it faces challenges like data alignment and high computational costs [1] - **AI-driven customer experience innovation** is showcased through hyper-personalized services and automated customer support, demonstrating efficiency and customer satisfaction improvements while needing to balance innovation with ethical considerations [1] Group 2: Ethical and Sustainable AI - The report introduces the concept of "sustainable AI," focusing on optimizing algorithms to reduce environmental impact and emphasizing the symbiotic relationship between AI and humans [2] - Predictions suggest breakthroughs in Artificial General Intelligence (AGI) may occur between 2025 and 2035, necessitating enhanced infrastructure and global collaboration to establish governance frameworks amid regulatory and ethical debates [2] - The overarching message stresses that technologies like GenAI are reshaping industries and society, highlighting the need to balance innovation with ethics and regulation to promote sustainable development and human progress [2]

以下文章来源于硅谷AI+ ，作者硅谷AI+ AI+ Multimodal Day Fri, 10/10/2025 10:30 AM - 5:00 PM San Francisco, CA 硅谷AI+ . 我们坚信AI和大语言模型会成为每个行业的基础设施，深度关注AI的企业级解决方案。 10月10日至11日，2025年 AI+ Multimodal Day & Agent Everywhere 2025 将在旧金山举办。本次峰 会聚焦 「多模态AI」 与 「智能体」 两大前沿方向，汇聚技术、资本与产生多方力量，致力于推动AI 技术落地与生态共建。 锦秋基金非常开心作为合作伙伴参与本次峰会 ，跟来自全球2000余名产品技术专家、AI创新家以及最 受关注的AI Agent公司一起，讨论智能体的场景落地与想象空间。 锦秋基金被投企业Pokee AI创始人 朱哲清、Wanderboat.ai CEO You Wu将在活动现场与大家交流。 ⬇️ 扫码海报二维码，即刻报名 ⬇️ RSVP Youna 7 Lei Xu CTO @ LanceDB Paul Klein IV CEO @ Browserbase Div Gar ...

● 本报记者 罗京 在第四届全球数字贸易博览会上，一副重量不足50克、形态近乎普通眼镜的乐奇AI+AR眼镜，让佩戴 者眼前实时浮现信息窗口，引得观众惊叹；不远处，秋果计划科技有限公司的展台上，观众们排队体验 Wigain Omnision XR智能眼镜的实时翻译和购物功能。一批AI智能眼镜产品正悄然改变人机交互的边 界。 业内人士表示，随着ChatGPT-4o及豆包视觉模型的发布，多模态AI加速落地，语音、视频及图片等交 互方式有望刷新市场对于AI能力的认知。AI与AR眼镜产品具备透视能力，同时，设备搭载摄像头、麦 克风及扬声器等多种传感器，可实现素材实时获取，有望成为多模态AI终端的更优选择。 解锁多元场景体验 成立于2021年的秋果计划，今年是第三次参加数贸会。在本届数贸会上，秋果计划展出了旗下首款融合 人工智能能力的全彩碳化硅光波导XR眼镜。据介绍，该款眼镜将视场角由行业AI眼镜的30°提升到 50°，升级视野，实现大屏体验；自研的绿洲系统让眼镜摆脱了手机，成为独立智能终端；融入智能体 Wigain，整合购物、翻译、社交等多元功能。 此外，数字技术、VR技术带来的娱乐消费新场景同样受到观众欢迎。时空精灵 ...

● 本报记者 罗京 在第四届全球数字贸易博览会上，一副重量不足50克、形态近乎普通眼镜的乐奇AI+AR眼镜，让佩戴 者眼前实时浮现信息窗口，引得观众惊叹；不远处，秋果计划科技有限公司的展台上，观众们排队体验 Wigain Omnision XR智能眼镜的实时翻译和购物功能。一批AI智能眼镜产品正悄然改变人机交互的边 界。 业内人士表示，随着ChatGPT-4o及豆包视觉模型的发布，多模态AI加速落地，语音、视频及图片等交 互方式有望刷新市场对于AI能力的认知。AI与AR眼镜产品具备透视能力，同时，设备搭载摄像头、麦 克风及扬声器等多种传感器，可实现素材实时获取，有望成为多模态AI终端的更优选择。 解锁多元场景体验 成立于2021年的秋果计划，今年是第三次参加数贸会。在本届数贸会上，秋果计划展出了旗下首款融合 人工智能能力的全彩碳化硅光波导XR眼镜。据介绍，该款眼镜将视场角由行业AI眼镜的30°提升到 50°，升级视野，实现大屏体验；自研的绿洲系统让眼镜摆脱了手机，成为独立智能终端；融入智能体 Wigain，整合购物、翻译、社交等多元功能。 "Wigain Omnision XR眼镜能够将手机、电脑的功能与应用 ...

Core Viewpoint - Shenzhen SanTai E-commerce Co., Ltd. is benefiting from the depreciation of the RMB and is actively developing AI-driven tools for risk detection in cross-border e-commerce [2][3]. Company Overview - Shenzhen SanTai E-commerce Co., Ltd. was established on January 7, 2008, and is located in Nanshan District, Shenzhen, Guangdong Province. The company primarily engages in cross-border e-commerce retail and logistics [7]. - The company's revenue composition includes 76.14% from cross-border e-commerce product sales, 23.80% from logistics sales, and minimal contributions from technology services and other businesses [7]. Business Developments - The company launched its AI-based intellectual property risk detection tool "RuiGuan·ERiC" for trial use on September 28, 2023, aimed at providing flexible and cost-effective risk monitoring solutions [2][3]. - The company is also developing an AIGC project that utilizes Stable Diffusion for generating high-quality images, enhancing operational efficiency and reducing production costs [2]. Financial Performance - For the first half of 2025, the company reported a revenue of 827 million yuan, representing a year-on-year growth of 3.27%, while the net profit attributable to shareholders decreased by 48.75% to 23.26 million yuan [8]. - As of September 19, 2023, the number of shareholders increased to 30,500, with an average of 7,192 circulating shares per person [8]. Market Position - The company operates in the cross-border e-commerce sector, which is part of the broader internet retail industry. It is positioned within several concept sectors, including intellectual property, express delivery, and small-cap stocks [8]. - The company's overseas revenue accounted for 99.98% of its total revenue, benefiting from the depreciation of the RMB [3].

Macro Dynamics - The Digital Renminbi International Operation Center has officially commenced operations in Shanghai, launching three major business platforms: cross-border digital payment, blockchain service, and digital asset platform [2] Market Regulation - The State Administration for Market Regulation is soliciting public opinions on the revised "Food Recall Management Measures (Draft for Comments)" to enhance food safety regulation [3] Real Estate Policy - Guangzhou has introduced new policies allowing real estate companies to sell self-owned housing after paying the necessary fees, aimed at alleviating financial pressure on developers [5] Natural Disasters - The impact of Typhoon "Haikui" has diminished, with orderly resumption of maritime operations and project work in Guangdong, Hainan, and Fujian [6] Defense Industry - The Ministry of National Defense emphasized that the development of aircraft carriers will proceed based on national security needs and technological advancements [7] Copper Industry - The China Nonferrous Metals Industry Association's Copper Industry Branch expressed strong opposition to "involution" competition in the copper smelting industry, which has led to persistently low processing fees [8] Financial Institutions - Two major state-owned banks, Bank of China and Agricultural Bank of China, announced the abolition of their supervisory boards, transferring responsibilities to the audit committee of the board [10] Market Data - The ChiNext Index rose by 1.58%, reaching a three-year high, with significant gains in sectors such as controlled nuclear fusion and AI [9] - The total margin financing balance across both stock exchanges increased by 141.21 billion yuan, reaching approximately 24,063.72 billion yuan [10] Company Developments - Over 70% of China's energy state-owned enterprises have integrated with Alibaba Cloud AI, covering the entire energy spectrum [12] - iQIYI plans to launch China's first AI theater, with the first batch of AI narrative films expected to be released in Q1 2026 [13] - China Railway has recently won bids for 11 major projects, with a total bid amount of approximately 502.15 billion yuan, accounting for 4.34% of its projected 2024 revenue [15] - SIRIS has received approval from the China Securities Regulatory Commission for its H-share issuance [16] - Gaode has reported that over 2,000 restaurants have displayed "Street Ranking" signs within two weeks of its launch, significantly increasing online traffic for local eateries [17]