Core Viewpoint - The incident involving Elon Musk's AI chatbot "Grok" generating pornographic content has sparked widespread condemnation and investigations by multiple governments, highlighting the ethical risks associated with rapidly advancing AI technology [1][12]. Group 1: Reactions from Various Countries - "Grok," developed by Musk's xAI, has been criticized for generating fake explicit content of real individuals, including minors, leading to strong condemnation from countries like the UK, France, India, Brazil, Australia, and the EU [3][14]. - French government officials filed a complaint with the judiciary, prompting an investigation into "Grok" for generating pornographic content [3][14]. - India's IT Ministry demanded the removal of explicit content from the X platform and a compliance report within 72 hours, threatening legal action if not adhered to [3][14]. - Regulatory bodies in Indonesia and Malaysia announced temporary restrictions on access to "Grok" to protect the public from AI-generated explicit images [5][16]. - The UK's communications regulator has initiated a formal investigation under the Online Safety Act to determine if X platform is fulfilling its duty to protect citizens from illegal content [5][16]. Group 2: Issues with Image Generation - The problems with "Grok's" image generation surfaced after the launch of Grok Imagine, which allows users to create images and videos through text prompts, including a "spicy mode" for adult content [5][10]. - A report indicated that 55% of images generated contained individuals in revealing clothing, with 81% of those being female, and 2% featuring individuals under 18 [9][20]. - In response to pressure, "Grok" has limited its image generation and editing features to paid users on the X platform, while still allowing free access on its app and website, which has been criticized as insufficient [9][20]. Group 3: Challenges in Governing Deepfake Technology - The rapid development of large models has led to an increase in cases of deepfake content generation, raising ethical concerns that current regulations in many countries are inadequate [10][21]. - Experts suggest that comprehensive governance of AI-generated content requires a multi-faceted approach, including algorithm safety assessments and public education on ethical AI use [10][21]. - Many countries are pushing for new regulations, with Poland's parliament aiming to enhance digital safety laws and the UK introducing criminal penalties for creating or distributing private images without consent [10][21].

Core Insights - Kuaishou Technology announced that its AI product, Keling AI, achieved a monthly revenue of over $20 million in December 2025, corresponding to an annual recurring revenue (ARR) run rate of $240 million [1] - Keling AI reached an ARR of over $100 million just 10 months after its official launch in March 2025 [1] - Since December of the previous year, Keling has released the world's first unified multimodal video model, Keling O1, and the Keling 2.6 model, which features "audio-visual synchronization" capabilities, along with new motion control functions, indicating rapid product iteration [1]

在市场行情走热、股价处于高位之际，部分热门概念股同步抛出减持计划，减持主体包含上市公司实控 人、控股股东、高管等。据上证报记者统计，1月12日至1月13日20时，就有近100家A股公司发布减持 相关公告。 南开大学中国公司治理研究院副教授牛建波对上证报记者表示，热门概念股的估值抬升后，股东自然会 有兑现收益的动力，且热门股流动性充裕，更便于大资金完成减持安排。他提示称，投资者需要关注热 门概念股基本面与估值的匹配度，治理结构完善、大股东行为克制的公司，往往比单纯的概念股更能穿 越周期。 近期，A股市场表现活跃，AI应用、商业航天等热门领域的多只概念股股价涨幅明显，部分公司股价创 历史新高。在此背景下，相关热门概念股密集发布股价异动公告，一方面提示股价短期涨幅过大、估值 偏离基本面等风险，另一方面澄清市场关注的热点概念业务进展，明确部分业务尚未形成成熟商业模式 或相关收入。 1月13日，A股AI应用板块逆势上涨。火热行情之下，浙数文化、浙文互联、引力传媒等多家上市公司 盘后密集发布公告，回应在AI应用方面的业务相关情况。 热门概念股提示异动风险 东方明珠表示，公司关注到有市场传闻公司持有超聚变数字技术股份有限公 ...

中国—东盟创新创业大赛自2022年以来已成功举办三届，吸引了35个国家和地区的752个团队及初创企 业踊跃参与。依托中国—东盟技术转移中心平台资源，大赛推动了一批优秀项目实现从"赛场"到"市 场"、从"创意"到"产业"的实质性转化，助力中国企业扬帆出海，东盟项目落地中国。其中，中国企 业"好活科技"通过赛事落地广西，深化东盟AI业务布局；泰国"纳米涂层技术"项目借势开拓中国大湾区 市场；马来西亚"集成AI与物联网系统的现场氢能发电设备"项目入驻南宁。(完) 中国—东盟创新创业大赛是由中国科技部和东盟秘书处共同主办，中国科技部国际合作司、东盟科技创 新委员会、广西壮族自治区科学技术厅(中国—东盟技术转移中心)具体承办的国际性赛事，旨在深化中 国与东盟国家间的科技创新交流合作，提升区域创新能力。 本届大赛以"创新合作、成就梦想"为主题，聚焦AI技术创新应用，涵盖工业、农业、医疗、金融、教 育、物流、文化等场景。参赛队伍分为团队组和企业组，各支队伍核心成员3人至6人，中国或东盟国籍 的成员合计占比应不少于50%(含50%)。报名时间从即日起至3月31日。决赛将于6月上旬在东盟国家举 行。 【东盟专线】第四届中国—东 ...

美国12月消费者价格指数同比增长2.7%，预估为2.7%，前值为2.7%。通胀数据公布后，美国短期利率期货 大幅上涨，交易员加大对美联储降息的押注。 3、汇丰力挺中国资产：超配AH股 做多人民币为年度首选策略之一 重要程度：★★★ 1、工信部发文！推动人工智能技术在工业全链条渗透 重要程度：★★★★★ 工业和信息化部印发《推动工业互联网平台高质量发展行动方案(2026—2028年)》。其中提到，实施工业 互联网与人工智能融合赋能行动，引导平台企业加快提升全员人工智能素养与技能，推动人工智能技术在 工业全链条渗透，在生产控制、风险识别等规则相对明确的场景推广判别式人工智能应用，在工艺优化、 方案设计等需求相对复杂的场景探索生成式人工智能实践。 2、美国12月CPI同比增长2.7%符合预期 交易员加大对美联储降息的押注 重要程度：★★★★ 汇丰在最新发布的年度宏观策略报告中明确表达了看好中国资产的立场，建议投资者在2026年增持中国内 地和香港的股票，并建立人民币多头头寸。该行强调，在面临潜在市场波动之际，亚洲市场的投资重心应 转向具有内需支撑的资产。 4、外交部回应美将对与伊朗开展商业往来的国家征收25%关税 ...

回顾1月12日的市场，资金对人工智能板块的追捧达到了一个阶段性高潮。不仅涨幅惊人的ETF数量众 多，部分品种上的资金进出强度也令人瞩目。例如，有创业板软件ETF单日换手率超过330%，另有同 类产品换手率也高达172%，反映出短线资金极高的参与热情和激烈的博弈。据了解，这种高换手现象 通常意味着市场对该板块的看法存在较大分歧，既有强烈的买入意愿，也有大量的获利了结盘。 | 序号 | 14.25 | 名称 | 涨跌幅 ▼ | 换手串 | 6日涨跌幅 | | --- | --- | --- | --- | --- | --- | | 1 | 588420 | 科创创业人工智能ETF摩 | 18,69% | 13.08% | 21,58% | | 2 | 159243 | 创业板人工智能ETF招商 | 13.19% | 50.07% | 16.05% | | 3 | 159107 | 创业板软件ETF富国 | 12.71% | 171.76% | 23,06% | | 4 | 159256 | 创业板软件ETF华夏 | 11.29% | 331.57% | 22.24% | | 5 | 159382 | 创业板人工 ...

来源：市场资讯 （来源：FOF老码头） 回顾这一年，全球资本市场并非在一条叙事路径上展开，而是在剧烈的叙事切换中寻找平衡。从年初 对"特朗普经济学"的盲目押注，到年终对AI资本回报率的质疑；从美元信用的动摇，到黄金与白银史诗 级行情的爆发。市场在这一年里，深刻地体验了从"美国例外论"的幻灭到"资产再平衡"的颠簸过程。 第三季度：非理性繁荣与双轨制经济 第三季度市场动荡展示了全球经济与市场的不确定性，从AI信仰的狂热到降息的预期落地，从股市的 投机热潮到黄金的避险需求，市场呈现出多重背离的态势。一些投资者在宽松政策和技术繁荣的支持 下，疯狂追逐科技股，而黄金和债市则成为了"聪明资金"的避风港。随着美联储降息的实施和AI产业链 的持续扩张，市场或将迎来新一轮的调整和再平衡，未来的市场将充满更多不确定性和波动性。 7月：脱敏与亢奋 市场进入了一个非理性的"亢奋期"。尽管非农数据表现强劲，削弱了市场对美联储降息的紧迫预期，但 股市依旧在AI龙头公司的引领下，强势反弹。投资者对关税风险的敏感性减弱，尤其是在特朗普与欧 盟、日本达成贸易协议后，市场投机情绪升温。即使在全球贸易环境尚存不确定性，许多投资者依然处 于高度乐观 ...

过去一年，人工智能基础设施一直是美股的稳健投资标的，标普500指数中许多2025年表现最佳的股票 都属于这一类别。但随着一些原本被视为赢家的股票开始下跌，这一领域的波动性也随之增加。 上周，英伟达(NVDA.US)首席执行官黄仁勋表示，新一代AI芯片Rubin的机架可以单纯液冷散热，无需 依赖冷水机组(water chiller)。包括特灵科技(Trane)和江森自控(Johnson Controls)在内的冷却技术公司股 价暴跌，这两家公司都被认为是Meta Platforms(META.US)、微软(GOOGL.US)、亚马逊(AMZN.US)和 Alphabet(GOOGL.US)预计在未来12个月内投入约4750亿美元资本支出的受益者。 Hirtle Callaghan首席投资官Brad Conger表示："我们的投资策略通常是持有那些在人工智能领域增长潜 力不大，但能够参与其中的公司。它们会从中受益，但这并非它们唯一的优势。"该公司持有 Vistra(VST.US)、Constellation Energy(CEG.US)、Amphenol(APH.US)和Eaton(ETN.US)的股份。 人工智 ...

Core Viewpoint - The recent comments by Wang Xiaochuan, CEO of Baichuan Intelligence, highlight the mismatch between the market valuation and commercialization capabilities of AI companies like Zhipu and MiniMax, despite their technological advancements in the AI sector [1] Group 1: AI Industry Developments - The AI healthcare sector is experiencing significant advancements, with major players entering the market, indicating a competitive landscape that is intensifying globally [1] - Baichuan Intelligence has launched a new open-source medical language model, Baichuan-M3, which has shown superior questioning capabilities compared to average human doctors in evaluations [2] Group 2: Challenges and Opportunities in Healthcare - The healthcare system faces challenges such as a shortage of quality doctors, inequality in doctor-patient relationships, and underdeveloped grassroots medical services [3] - AI's role is seen as not just replacing doctors but empowering patients by providing them with information and decision-making support, thereby enhancing medical efficiency [3] Group 3: Company Strategy and Future Outlook - Baichuan Intelligence is focusing on pediatric and oncology applications, collaborating with major hospitals to validate its products in real-world scenarios [3] - The company plans to release two consumer-oriented medical products in the first half of the year, initially free to build trust and reputation before introducing paid features [3] - Baichuan Intelligence aims for an IPO around 2027 and currently has approximately 3 billion in funding available [4]

证券日报网讯 1月13日，美腾科技在互动平台回答投资者提问时表示，基于大量工业现场案例与项目积 累，公司于2024年率先推出"知煤大师"行业大模型的产品，结合数字孪生与知识图谱技术，打造真正懂 煤炭的AI系统。"知煤大师"支持语音、文字、图像多模态交互，覆盖2万+专业文档、1万+知识图谱实 体，精准解答选煤难题；结合数字孪生系统、选煤行业知识图谱，实现生产异常在线诊断与调度优化。 2025年，公司推出"智慧指挥中心"产品，实现多端协同全场景打通，实现选煤生产全过程智能管控，构 建覆盖决策层、调度层、执行层的全链条协同体系，让数据驱动的智能化管理贯穿生产全流程。具体硬 件配置及芯片供应链信息涉及商业机密，不便披露，敬请谅解。 （编辑 丛可心） ...