来源：科技日报微信 来源：科技日报 图片由清华大学集成电路学院提供 记者 华凌 实测数据显示，该芯片在折叠、卷曲状态下可稳定工作，经4万次反复折叠后计算能力仍保持稳定，并 具备良好的耐温、耐湿和抗光照老化能力。其最小尺寸芯片制造成本仅0.016美元，能够集成至可穿戴 设备，利用心率、呼吸频率、体温等生理信号实现人体日常活动识别。 1月28日，清华大学集成电路学院任天令教授团队及合作者的研究成果"FLEXI柔性数字存算芯片"正式 发表于国际顶级期刊《自然》，标志着我国在柔性电子与边缘人工智能硬件领域取得重要突破，填补了 高性能柔性AI计算芯片的技术空白。 专家点评指出，该技术填补了柔性电子领域AI专用计算硬件的空白。未来通过新型半导体材料应用、 功率门控技术优化等，有望进一步提升性能。若能持续优化生产良率与芯片尺寸，将推动可穿戴健康设 备、物联网终端等领域的产业升级与技术革新。 新研发的柔性AI芯片采用CMOS低温多晶硅（LTPS）工艺，可直接在柔性基底上制造，兼具低功耗、 低成本和高集成度优势。研究团队通过工艺革新增加金属层数，突破了传统柔性电子难以支持复杂芯片 互联的瓶颈；创新采用数字"存内计算"架构，在存 ...

Core Viewpoint - The global AI and HPC chip competition has officially entered the 2nm era, with TSMC initiating a "preparation mode" for advanced process technology [2] Group 1: 2nm Process Development - TSMC's 2nm (N2) process represents a significant shift from FinFET to GAAFET architecture, with strong demand from clients exceeding expectations [2] - Major clients for the 2nm process include Apple and Qualcomm, with general-purpose GPUs and ASICs expected to ramp up production starting next year [2][3] - TSMC's N2 family is projected to have a larger scale and longer lifecycle than the 3nm process, with mass production expected to ramp up in 2026 [3] Group 2: Advanced Packaging Technologies - TSMC is simultaneously upgrading its advanced packaging systems to meet the demands of AI chips, which are moving towards multi-chiplet and large package sizes [3] - The company is expected to increase its CoWoS monthly capacity by over 70% this year, while also validating next-generation technologies like CoWoP and CPO [3] - The ability to produce high-yield large system-level packages is critical for the semiconductor ecosystem's resilience [3]

Core Insights - The development of flexible fiber chips represents a significant breakthrough in the field of electronics, enabling the integration of information processing capabilities directly into fibers, thus addressing the limitations of traditional rigid silicon-based chips [1][2][6] Group 1: Technology and Innovation - The research team from Fudan University has successfully created a new type of information processor called fiber chips, which are highly flexible and can adapt to complex deformations, making them suitable for applications in brain-machine interfaces, electronic textiles, and virtual reality [1][2] - The innovative design approach involves a "multi-layer stacking architecture" that allows for the integration of a large number of transistors within the fiber, potentially exceeding the transistor count of traditional computer processors [2][3] - The team has achieved a high-density integration of 100,000 transistors per centimeter within the fibers, enabling both digital and analog circuit functionalities [3] Group 2: Manufacturing Process - The research team developed a novel fabrication method that allows for direct photolithography on elastic polymer fibers, overcoming challenges related to the rough surface and deformation of the fibers [3][4] - This new method is compatible with existing chip manufacturing processes, allowing for scalable production of fiber chips [4] Group 3: Applications and Future Prospects - The fiber chips are expected to facilitate the transition from embedded to woven smart systems, with potential applications in electronic textiles that integrate power generation, storage, sensing, display, and information processing [5][6] - In the field of brain-machine interfaces, the fiber chips can integrate high-density sensing and stimulation electrode arrays along with signal preprocessing circuits, enhancing the safety and efficacy of implanted devices [6] - The research team aims to collaborate with scholars from various disciplines to further enhance device integration density and information processing performance, while establishing a proprietary intellectual property system for broader industrial applications [7]

来源：环球市场播报 与此同时，人工智能（AI）板块前景疑虑浮现，华尔街目光聚焦英伟达。据知情人士透露，英伟达计 划向OpenAI注资1000亿美元的方案已陷入停滞，芯片制造商高管对该交易提出质疑。然而，英伟达 CEO黄仁勋周六向记者表示："我们将投入巨资。我相信OpenAI，他们的工作令人惊叹，是当今最具影 响力的公司之一。"尽管未透露具体金额，但他强调投资规模"巨大"。 本周将迎来财报与就业数据密集发布的关键周。超100家标普500成分股公司，包括亚马逊、Alphabet和 迪士尼等巨头，将陆续公布财报。尽管本财报季整体表现亮眼，但微软等企业财报发布后股价大幅下跌 的案例，也令市场保持警惕。德意志银行策略师指出，当前企业盈利增长势头有望创下四年以来最高水 平，为市场提供一定支撑。 此外，华尔街正密切关注周五早间公布的美国1月非农就业报告。道琼斯调查的经济学家预计，1月新增 就业岗位5.5万个，数据表现将直接影响市场对美联储货币政策的预期。此前，美股已因特朗普提名凯 文·沃什出任美联储主席而承压，主要指数集体走低。若提名获确认，沃什将于今年晚些时候接替杰罗 姆·鲍威尔执掌美联储，政策走向不确定性增加。 周一早 ...

Group 1 - The new Federal Reserve Chairman Kevin Warsh's policies may lead to a stronger US dollar, impacting global asset pricing, with a notable reaction seen in precious metals [4][12][17] - The report highlights three main channels through which exchange rates affect equity markets: corporate cost and profit elasticity, capital flow and asset pricing, and macroeconomic expectations and risk appetite [20][21][22] - The report suggests that during the current phase of the global dollar cycle, Chinese equity assets are in a favorable revaluation window due to the transition to a mild appreciation of the RMB and foreign capital inflows [4][19][60] Group 2 - The analysis indicates a significant negative correlation between the US dollar and the S&P 500 index, where a weaker dollar often corresponds with a rising stock market [25][27][33] - The report discusses the unique "devaluation—foreign capital inflow—transaction expansion—valuation increase" model in Japan, where yen depreciation enhances export competitiveness and EPS for Japanese companies [39][42] - In the Eurozone, the report notes a weak coupling between the euro and European stock markets, with euro depreciation benefiting export-oriented sectors but being diluted by internal economic disparities [47][53] Group 3 - The report identifies specific industries that benefit from RMB appreciation, including aviation, paper manufacturing, basic chemicals, semiconductors, and banks, due to reduced import costs and improved financial conditions [21][22][60] - The analysis of Brazil's IBOVESPA index shows a high correlation with the Brazilian real, indicating that currency fluctuations significantly impact asset pricing in emerging markets [54][56][58] - The report emphasizes the importance of incorporating exchange rate logic into asset allocation strategies, particularly in the context of RMB appreciation and its effects on A-shares and Hong Kong stocks [59][63]

智通财经记者 | 周姝祺 2026年伊始，中国车市需求复苏乏力，汽车公司仍深陷以价换量的泥潭之中。而在远离展厅的供应链深处，一场更具杀伤力的成本风暴在同步酝酿。铜、 铝、碳酸锂等关键原材料与存储芯片价格齐涨，正进一步挤压本就微薄的利润空间，让汽车制造这门生意变得愈发艰难。 根据瑞银投资银行向智通财经提供的研报数据，受2026年初刺激措施退坡、购置税恢复与大宗商品成本上涨的三重挑战冲击，预计一辆普通的中型智能化电 动汽车的成本涨幅高达4000至7000元。 在大多数成熟工业行业，大幅度的成本上涨通常会转嫁至终端售价。但在竞争淘汰出清、需求偏弱的当下中国电动汽车市场，涨价几乎等同于让出份额。整 车厂或被迫自行消化成本，或层层转嫁至上游供应商。在利润和现金流之间，一场围绕成本控制的博弈正在全行业展开。 汽车公司本轮承受的成本上涨，并不完全来自熟悉的矿山等上游资源端，而是被人工智能爆发引发的算力和数据中心需求外溢所推高。富国银行在研究报告 中指出，数据中心和人工智能应用需求激增，正推高全球存储芯片供需缺口，汽车制造商面临新的成本压力和潜在的供应中断风险。 对于整车企业而言，存储芯片早已成为智能汽车的底层配置，广泛嵌入 ...

Core Viewpoint - The company primarily focuses on the sales of metering chips, MCU chips, and power line communication chips, with stable sales proportions among these core products [1] Product Sales Composition - Metering chips account for nearly 50% of the company's sales [1] - MCU chips represent 32% of the sales [1] - Power line communication chips make up approximately 20% of the sales [1] Market Performance - The sales volume of power line communication chips is expected to see a significant increase in 2025 due to improved market share in the Southern Power Grid [1]

随着美元滑落至四年低点，全球资本市场正在经历一场剧烈的资产重新定价与配置转移，投资者正加速 将资金从美国资产分散至全球其他地区，推动新兴市场股票、债券和货币在2026年开局迎来全面爆发。 MSCI新兴市场股票指数在1月份已飙升近11%，继2025年大涨31%后创下自2017年以来的最佳表现。这 一强劲涨势推动该指数成分股市值在今年增加了逾1万亿美元，总市值达到28万亿美元。相比之下，发 达市场的表现显得更为温和，MSCI世界指数今年仅上涨2.8%，而标普500指数涨幅为1.6%。 除了宏观货币环境的宽松，特定行业的爆发也是推动本轮行情的关键动力。Ninety One股票投资组合经 理Archie Hart指出，如果观察黄金、白银和存储芯片的价格走势，会发现它们几乎呈现"垂直上涨"态 势。自去年10月以来，由于AI需求导致供应短缺，部分存储芯片的现货价格几乎翻了两番。 这种需求直接利好作为全球供应链关键环节的亚洲市场。中国台湾和韩国的芯片制造商股票在今年早些 时候录得显著涨幅，这些企业是美国AI公司的关键供应商，目前在新兴市场基准指数中占据很大比 重。此外，MSCI南非蓝筹股指数（主要由矿业和银行股组成）今年已 ...

Group 1 - The core viewpoint of the article highlights the growth and diversification of the manufacturing sector in Shenzhen and Guangdong, with significant increases in domestic sales and exports, particularly in emerging markets [2] - By 2025, Guangdong's processing trade import and export value is projected to reach 19.5 trillion yuan, a year-on-year increase of 1.1%, accounting for 20.58% of the province's total foreign trade [2] - Shenzhen's domestic sales of processing trade goods are expected to reach 18.331 billion yuan by 2025, showing a substantial year-on-year growth of 43.22%, indicating strong competitiveness in the domestic market [2] Group 2 - Chinese scientists have developed a fully flexible AI chip, which is crucial for applications in wearable health monitoring devices and flexible robots [2] - The Beijing humanoid robot innovation center has launched its pilot verification platform, marking the production of the 1,000th humanoid robot, with an annual production capacity of 5,000 units [2] - The global AMOLED smartphone panel market is projected to ship approximately 920 million units by 2025, reflecting a year-on-year growth of 4.7%, driven by high-end smartphone demand for advanced display technologies [2]

| 名称 | 最新点位 | 、涨跌幅 | | --- | --- | --- | | 上证指数 | 4157.98 | +6.74(0.16%) | | 深证指数 | 14300.08 | -42.81(-0.3%) | | 创业板指 | 3304.51 | -19.05 (-0.57%) | | | 日期:1月29日 制图:21投资通 | | 昨日A股 1月29日，三大指数涨跌不一，沪指窄幅震荡，上证50指数涨超1%，创业板指冲高回落，科创50指数跌 超3%。截至收盘，沪指涨0.16%，深成指跌0.3%，创业板指跌0.57%。沪深两市成交额3.23万亿，较上 一个交易日放量2646亿。 盘面上，市场热点快速轮动，全市场超3500只个股下跌。从板块来看，白酒板块午后爆发，泸州老窖、 水井坊、舍得酒业、皇台酒业、酒鬼酒涨停。有色金属板块反复活跃，金属铜、贵金属领涨，西部黄金 7天4板，中国黄金5连板，北方铜业2连板创历史新高。油气股延续强势，洲际油气7天5板，准油股份2 连板，中曼石油4天3板。房地产板块震荡反弹，大悦城、三湘印象、我爱我家涨停。下跌方面，芯片产 业链下挫，美埃科技、京仪装备跌超9%。 隔夜外盘 ...