（来源：经济参考报） 在指挥中心，工作人员打开数字孪生系统，实时查看星载智能计算机等智能载荷的运行通信情况。距离 地球表面几百公里的轨道上，无声的太空计算悄然进行。 "三体计算星座"是由之江实验室协同全球合作伙伴共同打造的千星规模的太空计算基础设施。设施推动 计算上天、星间互联、模型上天，解决传统卫星数据处理效率瓶颈问题。 "人工智能上天的优势已经体现出来了。"李超向记者展示了一张遥感地图，地图上精确定位并放大了一 处异常情况。 这是2025年11月12日中午，"三体计算星座"在常规任务拍摄地表影像时，通过"地表异常检测模型"发现 我国西北某地发生一起火情，模型判定为疑似燃烧秸秆，并自动对火点与烟雾范围进行了有效识别。 "以前发射卫星，就像'放风筝'，都是卫星与地面'单线联络'，卫星和卫星之间并不联通，仅有不到十分 之一的有效卫星数据能传回地面，效率较低。计算上天、星间互联、模型上天后，数据在太空中就能处 理完，处理结果直接送到用户手中，效率将提升至分钟级甚至是秒级。"李超说。 走进浙江新型研发机构之江实验室的"三体计算星座"指挥中心，横贯墙面的大屏上实时跳动着12颗计算 卫星的运行轨迹，滚动着回传的遥测数据 ...

Core Insights - The "Trinity Computing Constellation" has successfully launched and is operational, consisting of 12 satellites that enhance data processing efficiency in space [1][2] - The constellation aims to achieve full interconnectivity among all 12 satellites, significantly improving data transmission and processing capabilities [2][4] Group 1: Technological Advancements - The "Trinity Computing Constellation" has implemented "Earth-Space Networking" and is progressing towards "Six-Star Networking," with plans for full constellation interconnectivity [2] - The system allows for real-time data processing in space, reducing the time for data delivery to users from hours to minutes or even seconds [2][3] - Seven models, including astronomical and meteorological models, are currently being tested in space, promising significant improvements in efficiency and accuracy for smart cities and environmental management [3] Group 2: Applications and Future Developments - The constellation supports advanced applications such as laser communication, which can enhance data transmission rates by 10 to 100 times compared to traditional microwave methods [3] - The initiative reflects a shift in China's artificial intelligence industry from technology catch-up to model innovation, aligning technological breakthroughs with societal needs [4] - Plans are in place to collaborate with multiple satellite companies to deploy over 50 additional computing satellites by 2026, further advancing AI applications in space [4]

Core Viewpoint - The article discusses the emerging field of space computing, highlighting its potential advantages, current developments, and the challenges it faces in becoming a viable alternative to traditional computing methods [3][5][6]. Group 1: Definition and Importance of Space Computing - Space computing refers to the deployment of computational resources in space, allowing for data processing and AI model training in a unique environment [8][10]. - The recent successful training of AI models in space by Starcloud marks a significant milestone, indicating the beginning of serious competition in the space computing sector [4][5]. - Major tech companies and countries are investing in space computing, with initiatives from SpaceX, Blue Origin, and Google, reflecting a growing interest in this area [5][6]. Group 2: Advantages of Space Computing - Space computing can overcome three major bottlenecks faced by traditional computing: energy consumption, water resource limitations, and spatial constraints [15][18]. - The abundance of solar energy in space can significantly reduce energy limitations for AI computations [15]. - The vacuum of space allows for efficient heat dissipation, eliminating the need for extensive cooling systems that consume water [16]. - Space offers virtually unlimited room for data centers, avoiding the social resistance faced by ground-based facilities [17]. Group 3: Engineering Forms and Business Models - Three potential engineering forms for space computing are identified: orbital computing nodes, modular computing clusters, and hybrid space-ground computing systems [19][20]. - Modular computing clusters could serve large-scale, low-latency tasks, appealing to sectors like astrophysics and materials science that require extensive computational resources [22]. - The hybrid model integrates space computing with existing cloud services, allowing for a division of labor where energy-intensive tasks are offloaded to space [24]. Group 4: Challenges Facing Space Computing - Technical challenges include the harsh conditions of space, such as radiation and temperature extremes, which complicate the reliability of computing systems [27]. - Economic uncertainties arise from the high initial investment and long return periods associated with space computing infrastructure [28]. - The potential for resource congestion in space could lead to increased risks of collisions and environmental instability in orbit [29]. - Regulatory issues regarding governance and accountability for space-based computing systems remain unresolved [30]. Group 5: Conclusion and Future Outlook - The future of space computing is uncertain, but its development could parallel historical advancements like the railway system, potentially transforming the AI landscape [33].

Group 1 - The core focus of the 2026 Annual Conference is on the impact of artificial intelligence (AI) from technological breakthroughs to societal reconstruction, exploring how embodied intelligence drives industrial transformation and seeks paths for AI to align with low-carbon goals during the critical period of the "14th Five-Year Plan" [2][3] - The conference features prominent guests including Terrence Sejnowski, a member of the National Academies of Sciences, Engineering, and Medicine, and Xue Lan, Director of the National New Generation Artificial Intelligence Governance Professional Committee [3] Group 2 - Insights from the industry highlight how breakthroughs in AI models in 2026 will reshape investment logic in computing power, applications, and aerospace computing, with models like DeepSeek driving advancements in China [5][6] - The long-term improvement in the A-share market environment is expected to stem from a decline in interest rates and increased liquidity, with the CSI A500 index providing balanced industry allocation and core asset selection [8] Group 3 - The 2026 Annual Strategy Conference will focus on the restructuring and opportunities in cyclical industries under the "anti-involution" policy, discussing how construction materials can accelerate clearing at the bottom, and how new chemical materials can benefit from supply-demand improvements [10] - The investment outlook for 2026 emphasizes resilience and rebalancing, with global investment patterns influenced by geopolitical uncertainties and expectations of interest rate cuts by the Federal Reserve, alongside China's fiscal policies potentially boosting economic growth [13][14]

行 行业周报 业 小米发布开源大模型，AI 应用布局有望深化 | 研 | | | | | | | ——计算机行业周报 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 究 | 分析师： | 连天龙 | SAC NO： | S1150525070002 | | 2025 | 年 12 | | | 日 | 18 | 月 | | | 计算机 | | | | | | | | | | | | | | | | 投资要点： | | | | | | | | | | | | 证券分析师 | | 行业要闻 |  | | | | | | | | | | | 连天龙 | | | | | | | | | | | | | | liantl@bhzq.com | | （1）小米发布开源 | 模型，同时上线网页版 MoE AI | | 聊天服务； | | | | | | | | | 研重究点助品理种推荐 | | （3）OpenAI 发布 | 模型。 GPT-5.2 | | | | | | | | | | ...

Group 1: Institutional Trading Insights - On the day, 43 stocks were listed on the institutional trading leaderboard, with 23 seeing net purchases and 20 experiencing net sales [1] - The top three stocks with the highest net purchases were Zhengbang Technology (900 million), Leike Defense (151 million), and Zhenlei Technology (147 million) [1] - Leike Defense's satellite application business has established a comprehensive technology system, providing remote sensing data solutions for key national economic sectors [1] Group 2: Aerospace Industry Developments - Shanghai Jiao Tong University and Guoxing Aerospace signed an agreement to establish China's first space computing joint laboratory, focusing on the demand for space-based computing networks [2] - The collaboration aims to form a globally influential space computing industry cluster [2] - The aerospace industry in Shenyang is set to expand, with plans to enhance capabilities in large aircraft assembly and develop a complete industry chain covering manufacturing and operational services [2] Group 3: Consumer Sector Trends - Dongbai Group focuses on retail and commercial real estate development [4] - The core product of Huanlejia is fruit canned goods, particularly orange and peach cans [4] - Recent reports indicate a price increase for high-end liquor, with the wholesale price of a 25-year-old Flying Moutai bottle rising by 20 yuan to 1500 yuan, reflecting a cumulative increase of 6% over two days [4][5] - Huachuang Securities suggests that service consumption could be a key driver for domestic demand in 2026, with significant potential in holiday policy optimization and consumption voucher issuance [4] Group 4: High-End Liquor Market Dynamics - Moutai's supply-side reform is seen as a significant change in the high-end liquor industry, focusing on stabilizing prices and reshaping the channel ecosystem [5] - The food and beverage sector is currently valued at historical lows, with the potential for investment opportunities as market sentiment shifts [5]

今天，顺周期行情明显。 一是大消费全面上涨，乳业、零售等板块大涨；二是大金融表现活跃，保险板块大涨，银行、证券等板块上涨；三是部分周期性板块上涨，比如猪肉、钢 铁、建筑建材等板块。 科技股今天回调，算力、半导体板块领跌。截至收盘，上证指数下跌0.55%，深证成指下跌1.1%，创业板指下跌1.77%。 活跃资金聚焦两大板块 从近期的龙虎榜看，零售和商业航天两大板块受到场内活跃资金的青睐，前者不断受到政策利好催化，后者连续迎来事件催化。 今天，这两大板块继续上涨。具体看，零售板块中，红旗连锁（002697）、全新好（000007）、百大集团（600865）等个股涨停，其中，百大集团迎来3 连板。 | V | | 零售 2190.62 2.75% | | | | --- | --- | --- | --- | --- | | 成分股 | 基金 | 简况(F10) | 资金 | 板块分析 | | 名称代码 | | 最新 | 涨幅 ◆ | 流通市值 | | 红旗连锁 融 002697 | | 6.23 | 10.07% | 71.3亿 | | 首板涨停 最终涨停 14:56 | | | | | | 全新好 | | 11 ...

Market Performance - The main board saw significant gains with notable stocks such as Copper Peak Electronics (+10.04%), Xilong Science (+10.00%), and Dongfang Communication (+9.98%) leading the charge [1] - The ChiNext board experienced a surge, highlighted by Guoci Materials (+20.02%) and LianTe Technology (+15.87%) [1] - The Sci-Tech Innovation board also performed well, with Jingfeng Mingyuan (+20.00%) and Yandong Micro (+16.84%) among the top gainers [1] - Active sub-industries included SW Electronic Chemicals III (+4.36%) and SW Semiconductor Equipment (+3.55%) [1] Domestic News - Taiwan's Industrial Technology Research Institute announced the development of the region's first full-color high-resolution Micro LED AI smart glasses, featuring a 0.49-inch display with 1920x1080 FULL HD resolution and over 3000 nits brightness [1] - Shanghai Jiao Tong University and Guoxing Aerospace signed an agreement to establish China's first space computing joint laboratory, focusing on autonomous space computing chip development and related technologies [1] - Goer Group and Haier Group signed a strategic cooperation agreement to collaborate on smart home, health, and digital economy sectors, leveraging Goer's expertise in precision components and smart manufacturing [1] - According to BCI's report, Huawei's smartphone market share is projected to reach 27.81% by the 48th week of 2025, significantly ahead of Apple's 17.12% [1] Company Announcements - Electric Science and Technology Network announced a significant decrease in expected daily related transactions for 2026, with actual transactions for 2025 being 283.25 million yuan compared to an expected 1.17385 billion yuan [3] - Chip Origin announced progress in acquiring Zhudian Semiconductor, with a capital increase of 350 million yuan for the acquisition [3] - Yunding Technology projected daily related transactions for 2026 to be approximately 1.355 billion yuan, with actual transactions expected to be around 1.484 billion yuan [3] - Aisino Security reported receiving a government subsidy of 1 million yuan, classified as a revenue-related government grant [3] International News - Dell plans to increase prices for its commercial product line by approximately 10%-30% starting December 17, depending on computer configuration [1] - STMicroelectronics secured a new credit line of 1 billion euros from the European Investment Bank, with 60% allocated for enhancing manufacturing capabilities [1] - SK Hynix ordered seven sets of thermal compression bonding machines from ASMPT for HBM4 production, a critical technology for ensuring product yield and performance [1] - Kioxia plans to start producing next-generation NAND flash memory chips in Iwate Prefecture in 2026, increasing storage capacity by 59% and data transfer speed by 33% [1]

12月12日，记者获悉，国星宇航与上海交大签署合作协议，共同建设太空计算联合实验室。实验室将围 绕天基算力网需求，聚焦自主可控太空计算芯片研发、机器人卫星、在轨增材制造等前沿领域开展研 究，致力于打造技术领先、自主可控的太空计算网络，推动形成具有全球影响力的太空计算产业集群。 当天，在上海市科委指导下成立的太空计算联合实验室产业化平台——东方天算公司也正式入驻上海交 大。（澎湃） ...

12 月 12 日，上海交通大学与国星宇航今日举行签约仪式，共同建设国内首个太空计算联合实验室。 签约仪式上同步举行了东方天算科技有限公司入驻上海交大工业技术创新研究院仪式。东方天算是在上 海市科委指导下成立的太空计算联合实验室产业化平台，旨在探索产学研融合与转化的新模式，加速天 基算力网的产业化进程。 据IT之家此前报道，北京也在着手建设"太空数据中心"，北京市支持研发的首个算力星座将发射首颗算 力试验卫星 ——"辰光一号"已完成产品研制，正在开展总装试验。预计 5 年左右，首座太空算力中心 将建成。 海外方面，英伟达支持的初创公司 Starcloud 已经首次在太空轨道上成功训练并运行了人工智能模型， 该公司于 2025 年 11 月 2 日通过 SpaceX 火箭发射了"Starcloud-1"卫星，该卫星搭载了英伟达 H100 图形 处理单元（GPU），已成功运行并响应了谷歌的开源大语言模型 Gemma。 上海交通大学人工智能学院执行院长王延峰与国星宇航创始人陆川分别代表双方签署合作协议，太空计 算联合实验室正式揭牌。 上海交通大学公告称，实验室将围绕天基算力网需求，聚焦自主可控太空计算芯片研发、机器 ...