This Startup Lets Paralyzed People Use Computers–Without A Chip In Their Head https://t.co/Z2yRHMuwrs https://t.co/wDJ0EM91tO ...

Group 1: AI and Multimodal Intelligence - The industry is witnessing accelerated development in multimodal intelligent agents, with a focus on key technologies and applications [2] - Major models such as Grok4, KimiK2, GLM4.5, Genie3, and GPT5 are evolving rapidly, characterized by open-source, low-cost, low hallucination, and multimodal features [2] - The launch of the first assessment for trustworthy AI multimodal agents aims to promote technology development and product implementation [2] Group 2: Computing Power Conference - The 2025 China Computing Power Conference will be held from August 22 to 24 in Datong, focusing on the theme "Building Foundations with Computing Networks, Guiding the Future" [3] - As of March this year, the number of standard computing power racks reached 10.43 million, with intelligent computing power scaling at 748 EFLOPS [3] - The AI computing market in China is projected to reach $25.9 billion by 2025, with a year-on-year growth of 36.2% [3] Group 3: Brain-Computer Interface Investment - OpenAI is considering investing in Merge Labs, a brain chip company exploring gene therapy for brain cell modification [4][5] - The global market for brain-computer interfaces in the medical field is expected to reach between $40 billion and $145 billion by 2030-2040 [5] - The brain-computer interface industry is suitable for medium to long-term investment, focusing on application expansion, technology iteration, and market demand [5] Group 4: HarmonyOS Development - HarmonyOS 5 has surpassed 10 million terminals, marking a significant milestone in its development [6] - Over 30,000 HarmonyOS applications and services are currently in development or updating, with the top 5000 applications covering 99% of user engagement [6] - The release of HarmonyOS 6 is expected to further enhance the ecosystem, attracting more developers and manufacturers [6]

Core Viewpoint - OpenAI co-founder Sam Altman is supporting a new company called Merge Labs, which aims to compete directly with Elon Musk's Neuralink in the brain-computer interface sector, indicating an intensifying rivalry between the two tech giants [2][3][4]. Group 1: Company Overview - Merge Labs is currently valued at $850 million and plans to raise $250 million, primarily from OpenAI's venture capital team [2][3]. - Altman will serve as a co-founder of Merge Labs but will not be involved in daily operations or provide personal funding [2][3][4]. - The company is part of a new wave of startups in Silicon Valley leveraging advancements in artificial intelligence to create more practical brain-computer interfaces [3][4]. Group 2: Competitive Landscape - Merge Labs will compete directly with Neuralink, which was founded by Musk in 2016 and is currently leading in the brain-computer interface field [4][5]. - Neuralink recently raised $650 million at a valuation of $9 billion, with investors including Sequoia Capital, Thrive Capital, and Vy Capital [5]. - Other startups like Precision Neuroscience and Synchron are also working to catch up in the brain implant technology space [5]. Group 3: Historical Context - Altman and Musk co-founded OpenAI, but Musk left the board in 2018 due to conflicts with Altman, leading to a competitive dynamic in the AI sector [5]. - Altman has previously speculated that the integration of humans and computers could occur as early as 2025, and he has expressed optimism about high-bandwidth brain-computer interfaces becoming a reality soon [4][5].

证券研究报告 2025 年 8 月 13 日 星期三 【A 股市场大势研判】 市场全天震荡走高，沪指七连阳再创年内新高 市场表现： | 指数名称 | 收盘点位 | 涨跌幅 | 涨跌 | 上证指数分时图 | | --- | --- | --- | --- | --- | | 上证指数 | 3665.92 | 0.50% | 18.37 | | | 深证成指 | 11351.63 | 0.53% | 60.21 | | | 沪深 300 | 4143.83 | 0.52% | 21.31 | | | 创业板 | 2409.40 | 1.24% | 29.58 | | | 科创 50 | 1069.81 | 1.91% | 20.08 | | | 北证 50 | 1449.63 | -0.62% | -9.09 | | 资料来源：东莞证券研究所，iFinD 数据 板块排名： | 申万一级涨幅前五 | | | 申万一级跌幅前五 | 热点板块 n | 涨幅前五 | 热点板块跌幅前五 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 通信 | 2.24% | ...

In the medium term I want some fancy BCI thing where it shows me the thing as it's being generated and detects in real time how I feel about each part of it and adjusts accordingly. ...

Industry Goals - The Ministry of Industry and Information Technology (MIIT) and six other departments issued the "Implementation Opinions on Promoting the Innovative Development of the Brain-Computer Interface Industry," aiming for breakthroughs in key brain-computer interface technologies by 2027 [1] - By 2027, the goal is to initially establish an advanced technology system, industrial system, and standard system for brain-computer interfaces [1] - By 2027, electrode, chip, and complete machine product performance should reach international advanced levels [1] Application Areas - Accelerated application of brain-computer interface products in industrial manufacturing, healthcare, and consumer sectors is expected [1]

Group 1: Shanghai's Support for AI Innovation - Shanghai is launching measures to support technological innovation in artificial intelligence, with funding up to 50 million yuan available for key projects [1][4] - The city will provide up to 30% funding for approved projects, focusing on areas such as general AI, embodied intelligence, and brain-computer interfaces [1] - A total of 6 billion yuan in computing vouchers will be issued to reduce the cost of using intelligent computing resources [4] Group 2: Investment in AI and Related Sectors - Shanghai aims to enhance its investment ecosystem by supporting quality enterprises in developing venture capital funds, particularly in computing power and data resources [2] - The city will collaborate with district-level investment funds to establish specialized sub-funds targeting key areas like large models and embodied intelligence [2] Group 3: National Childcare Subsidy Program - A national childcare subsidy program has been announced, providing 3,600 yuan per year for each child under three years old, starting from January 1, 2025 [3] - The subsidy will be tax-exempt and will not count towards income for social assistance evaluations [3] Group 4: AI Market Developments - Alibaba's Tongyi Qianwen API has reached a market share of 10.4%, ranking fourth globally, surpassing OpenAI [5] - The fastest-growing models in the market are predominantly open-source, indicating a shift in the competitive landscape [5] Group 5: Hong Kong Stock Market Trends - The net inflow of funds into Hong Kong Stock Connect ETFs has exceeded 100 billion yuan this year, indicating strong investor interest [6] - The total net inflow for the year has reached 994 billion yuan, with significant growth in thematic ETFs [6] Group 6: AI's Future in Enterprises - The CTO of DingTalk stated that AI is transitioning to a new phase where enterprise-specific models will see explosive growth [8] - The next few years are expected to be critical for the implementation of large models and proprietary models in enterprises [8] Group 7: Elderly Care Facility Planning - The Ministry of Civil Affairs and the Ministry of Natural Resources are working together to improve the planning of elderly care facilities [9] - The focus is on creating a three-tiered elderly care service network to better meet the needs of the aging population [9] Group 8: Innovative Brain-Computer Interface Device - A new multi-modal dream brain-computer interface device has been launched, designed to monitor brain signals and improve sleep quality [10] - The device addresses technical challenges and offers functionalities for sleep state regulation and cognitive assessment [10] Group 9: Upcoming Automotive Conference - The World Intelligent Connected Vehicles Conference will be held in October 2025, focusing on autonomous driving and smart vehicle integration [11] - The event aims to promote the convergence of intelligent connected vehicles with communication and transportation sectors [11]

Technology & Product Development - Neuralink is developing "Telepathy," a BCI aiming for mind-to-mind communication, currently in U S trials [2][3][4] - The technology faces challenges in mapping variable brain signals and achieving neural compatibility for brain-to-brain information transmission [6][8] - Neuralink has optimized surgical robots to minimize risks associated with brain implants, but further research is needed [9] Ethical & Safety Concerns - Brain implants carry risks of infections, long-term side effects, and potential brain damage [9] - Privacy and security are concerns, particularly regarding who will have access to thoughts transmitted via Telepathy [10] Trial & Application - U S trials involve participants with motor-related and neurological conditions, such as ALS or paralysis [4] - Participants in trials are successfully controlling computers through thought alone, regaining abilities to speak or perform tasks [4][5]

Group 1 - The 2025 Listed Companies Forum was held in Wenzhou, where leaders from major exchanges announced multi-dimensional reform signals, including the implementation of the "1+6" reform measures and the planning of the ChiNext reform [2] - The Hong Kong market will adjust its stock trading fees from 0.002% to 0.0042% of the transaction amount starting June 30, which will lower costs for small transactions and help institutional investors optimize trading strategies [5] - The Hong Kong Stock Exchange received 16 IPO applications from mainland companies in one day, with total financing exceeding $44 billion this year, ranking first globally [6] Group 2 - China's fiscal policy has become more proactive this year, with an emphasis on early issuance and use of long-term special bonds and local government bonds to boost consumption and economic growth [4] - The number of public fund managers in China reached a record high of 4,041, reflecting a significant increase in the industry and a trend of talent turnover [11] - The domestic logistics total for January to May was 138.7 trillion yuan, showing a year-on-year growth of 5.3%, indicating a stable logistics operation and an accelerating demand for consumer logistics [12] Group 3 - The A-share market experienced a rise, with the Shanghai Composite Index reaching a new high for the year, and analysts expect structural opportunities in the upcoming earnings season [7] - The issuance of corporate bonds in China has gained momentum, with 62 bond issuance plans approved by the CSRC this year, totaling 577.966 billion yuan [21] - The recent adjustments in deposit rates by private banks have become a norm, with some banks still offering rates above 2%, indicating a divergence in deposit rate levels among different banks [12]

Group 1 - The "2025 Tianjin Artificial Intelligence Industry Development Special Matching Conference" was held to promote the integration of government, industry, academia, research, and application in the AI sector [1][2] - Keynote speakers included prominent figures from various companies and institutions, discussing topics such as AI innovation, computational power, and the future of intelligent robotics and healthcare [2][3] - The conference facilitated discussions on overcoming technological bottlenecks in brain-computer interfaces, innovation in embodied intelligence, and monetizing AI in smart healthcare [3] Group 2 - Several practical cooperation agreements were signed during the conference, including projects related to "AI + manufacturing" and the Cloud Drone Northern Center, which are expected to serve as demonstration projects [3] - The establishment of the Pasini Embodied Intelligence Super Data Factory in Tianjin aims to address core challenges in the embodied intelligence industry, such as data scarcity and perception difficulties [3] - The Hexi District is actively developing its digital economy and has attracted over 2,300 AI-related enterprises, fostering a vibrant industrial cluster in areas like smart healthcare, urban governance, and cultural tourism [3][5] Group 3 - The Hexi District plans to create a comprehensive support system for AI development, focusing on infrastructure, policies, and talent to enhance the industry's growth and quality [5] - The district aims to become a new high ground for service industry development and a pioneer in integrating technological and industrial innovation [5]