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） ...

Core Viewpoint - The article emphasizes the proactive measures taken by various Chinese government departments to ensure stable economic growth in 2026, marking the beginning of the "14th Five-Year Plan" period. Key policies focus on stabilizing growth, expanding domestic demand, supporting technological innovation, and maintaining stability in the real estate and stock markets [1][3]. Group 1: Economic Policy Measures - The National Development and Reform Commission (NDRC) and other ministries are implementing policies to strengthen economic monitoring, improve policy tools, and manage expectations to ensure a smooth start to 2026 [3]. - The fiscal policy for 2026 will be more proactive, with an expanded fiscal spending plan and optimized government bond tools to enhance financial efficiency [3]. - The People's Bank of China (PBOC) will continue a moderately loose monetary policy, focusing on high-quality economic development and reasonable price recovery, while maintaining liquidity and promoting balanced credit growth [3][4]. Group 2: GDP and Fiscal Projections - The GDP growth target for 2026 is expected to remain around 5%, with a fiscal deficit rate holding steady at 4% and an increase in special bonds to 4.8 trillion yuan [4]. - The broad deficit scale is projected to rise from 11.86 trillion yuan in 2025 to approximately 12.45 trillion yuan in 2026, with a corresponding increase in the broad deficit rate from 8.4% to 8.5% [4]. Group 3: Consumer and Investment Stimulus - The NDRC emphasizes the need for practical measures to boost consumption, including optimizing the trade-in policy for consumer goods and enhancing service consumption [7]. - Investment strategies will focus on stabilizing and increasing effective investment, particularly in new infrastructure and technology sectors, with significant government funding allocated for major projects [8][9]. Group 4: Emerging Industries Development - The Ministry of Industry and Information Technology aims to enhance technological innovation capabilities and support the growth of emerging industries such as integrated circuits, new materials, and biomedicine [11][12]. - The establishment of the National Venture Capital Guiding Fund, with an initial investment of 100 billion yuan, aims to attract further investment in key technology sectors [12]. Group 5: Real Estate and Stock Market Stability - The housing and urban-rural development meeting outlines strategies to stabilize the real estate market through targeted policies, including optimizing housing purchase restrictions and supporting demand for housing [15]. - The PBOC is focused on mitigating financial risks in key areas and has established mechanisms to provide liquidity support to non-bank institutions, enhancing market stability [16][17].

Core Viewpoint - The article discusses the recent developments in the AI healthcare sector, highlighting the competitive landscape and the potential of AI technologies to enhance medical decision-making and patient care [3][4]. Group 1: AI Healthcare Developments - Wang Xiaochuan, CEO of Baichuan Intelligent, emphasizes that AI healthcare is at a tipping point, with major players entering the market, including OpenAI and Anthropic [4]. - Baichuan has launched a new open-source medical language model, Baichuan-M3, which has shown superior questioning capabilities compared to average human doctors in evaluations [5]. - The company is focusing on pediatric and oncology applications, collaborating with major hospitals to validate real-world scenarios [6]. Group 2: AI's Role in Medical Decision-Making - Wang highlights the pain points in the medical system, such as the shortage of quality doctors and inequalities in patient care, suggesting that AI's role extends beyond replacing doctors to empowering patients in decision-making [6]. - AI can provide comprehensive information and risk assessments, allowing patients to make informed choices about their treatment options, akin to a jury in a legal system [6]. Group 3: Future Outlook - The AI healthcare sector is seen as a significant paradigm in the competition among large models, with Baichuan aiming for an IPO around 2027 and currently holding nearly 3 billion in funds [7].

江苏提出到2030年形成超万亿元人工智能产业规模 中新社南京1月13日电 (记者 朱晓颖)江苏省人民政府13日在南京举行新闻发布会，就近期印发的《江苏 省"人工智能+"行动方案》(简称行动方案)进行解读。行动方案提出，到2030年，江苏人工智能产业规 模超万亿元人民币；到2035年，建成中国领先的"人工智能＋"创新策源地、产业新高地和融合应用先导 区，全面步入智能经济和智能社会发展新阶段。 江苏省发展和改革委员会副主任蔡剑峰介绍，在全面落实中国国家文件确定的6个重点领域行动基础 上，行动方案增加了"人工智能+"新兴产业重点领域，以抢占人形机器人、低空经济、智能驾驶、生物 医药、新能源等战略性新兴产业和未来产业新赛道；强调突出构建智能原生、开放协同的"人工智能 +"生态体系。 在江苏，"人工智能+"正赋能千行百业。江苏首个人工智能生态街区——中国(南京)软件谷的"AI·镜界— 南京人工智能生态街区"已吸引华为、中兴等381家AI生态企业，建成华为人工智能产业创新中心等17个 公共赋能和要素支撑平台。2025年11月，"AI时空·南京人工智能国际社区"在南京河西中央科创区揭 牌，"一核三片区"的"一核"已集聚阿里 ...

Market Analysis - On January 13, the three major indices collectively adjusted, with the Shenzhen Component Index falling over 1% and the ChiNext Index dropping nearly 2%. The total trading volume in the Shanghai and Shenzhen markets reached 3.65 trillion yuan, an increase of 49.6 billion yuan compared to the previous trading day. Over 3,700 stocks in the market declined, with the Shanghai Composite Index down 0.64%, the Shenzhen Component Index down 1.37%, and the ChiNext Index down 1.96% [1]. AI and Healthcare Developments - OpenAI launched ChatGPT Health on January 7, achieving a 92% disease diagnosis accuracy rate across over 5,000 disease features, marking a significant shift of generative AI from a general assistant to a specialized healthcare partner [10]. - ChatGPT Health utilizes the GPT-5.2 model, featuring capabilities such as symptom-disease mapping, multi-modal data analysis, and risk stratification algorithms to enhance diagnostic accuracy and efficiency [13][14]. - On January 11, Elon Musk's X platform called for users to upload medical images to train the Grok AI model, which aims to provide preliminary diagnoses and claims to outperform doctors in certain cases [15][16]. - Anthropic introduced Claude for Healthcare on January 11, which has already been adopted by 22,000 clinical personnel at Banner Health, indicating a significant step towards the integration of generative AI in healthcare [18]. Pharmaceutical Industry Collaboration - NVIDIA and Eli Lilly announced a partnership on January 12 to invest $1 billion over five years in a joint research lab in the San Francisco Bay Area, aimed at accelerating AI applications in the pharmaceutical industry [20][22]. - This collaboration seeks to integrate NVIDIA's AI computing capabilities with Eli Lilly's biomedical data to transform drug development processes and address long-standing industry challenges [22]. Company Spotlight: Pruis - Pruis, a clinical trial site management organization (SMO) established in 2009, focuses on ensuring efficient trial operations and data quality standards. It recently passed the national algorithm filing for its "Rui Star Clinical Trial Text Generation Algorithm" [23][24]. - The algorithm enhances information processing efficiency and accuracy by 90%, addressing industry pain points in clinical research [25][26]. Macro Trends in Energy and Data Centers - The surge in electricity consumption by data centers has led to increased electricity costs for residents in certain areas of the U.S. Major tech companies are securing nuclear power agreements to support their AI computing clusters [28]. - Macro trends indicate a dual drive for the North American market, focusing on aging grid updates and the infrastructure needs of AI data centers, which is expected to boost demand for transformers [28][29]. Company Profile: Hongyuan Co. - Hongyuan Co. specializes in the research, production, and sales of electromagnetic wires, primarily used in high-voltage transformers and other large power transmission equipment. The company has established itself as a leading manufacturer in this sector [33]. - Hongyuan's products are exported to various countries, including Turkey, North America, and Egypt, with a focus on meeting the needs of major transformer manufacturers [33].

Core Insights - Apple and Google have entered a multi-year agreement for Apple to utilize Google's Gemini to drive its next-generation foundational models, indicating a strategic partnership in AI development [1] - Analyst Ming-Chi Kuo suggests that Apple's decision to collaborate with Google is driven by short-term challenges, including the need for a successful AI demonstration at WWDC and rising user expectations for AI service quality [1] - The partnership is expected to alleviate immediate pressures on Apple, although the long-term challenge remains in enhancing its control over core AI technologies [1] Company Developments - Apple's self-developed AI server chips are projected to begin mass production in the second half of 2026, with its own data centers expected to start construction and operations in 2027, indicating a significant anticipated growth in demand for device-side AI starting in 2027 [2]

中证报中证网讯(记者魏昭宇)近日，重庆小易智联智能技术有限公司(以下简称"小易智联")宣布完成数 千万元A轮融资。据悉，本轮融资由智新赋能产业基金、脑域技术为主要投资，个人投资者参与，老股 东持续加持。记者了解到，本轮融资将主要用于核心产品研发、国内市场深耕拓展等，持续强化小易智 联在端侧AI基座模型与企业智脑OS(AI Agent构建平台)领域的技术优势和规模化落地能力。 小易智联表示，公司已推出涵盖AI招聘、AI财务、AI运营、AI营销、AI法务、AI行政、AI客服等方向 的七大通用数字员工产品矩阵，广泛应用于企业核心业务场景。下一阶段，公司将持续围绕行业真实需 求，深化垂直行业定制化解决方案能力，从通用场景到细分领域，系统性助力企业打通数智化转型 的"最后一公里"。 小易智联表示，自上一轮融资以来，公司在资本价值层面实现跃升。公司的估值在2024年完成Pre-A轮 融资时达到约7000万元，经过A轮融资后，公司目前估值已提升至3亿元。目前，公司在手订单规模近 6000万元，商机储备约1亿元，展现出良好的市场认可度与持续增长动能。 公开资料显示，小易智联成立于2020年。公司围绕"模型+操作系统+智能体应 ...

Core Insights - OpenAI has acquired AI healthcare startup Torch for approximately $100 million, marking a significant step in its expansion into the healthcare sector [1][2] - The acquisition is expected to enhance OpenAI's "ChatGPT Health" service by integrating Torch's technology, which addresses the fragmentation of personal health data [2][4] Group 1: Acquisition Details - The acquisition was completed through equity, with $60 million paid upfront and the remainder allocated for employee retention incentives [2] - Torch, founded in January 2025, has a small team of four members and focuses on creating a unified medical memory database for AI applications [2][3] Group 2: Technology and Integration - Torch's technology can consolidate health information from various sources, including medical records and consumer health apps, to create structured health data contexts for AI models [2][4] - The integration of Torch's capabilities is expected to enable ChatGPT Health to provide personalized health insights rather than generalized advice [4][6] Group 3: Market Context and Competition - The acquisition reflects the competitive landscape of the AI health assistant sector, with competitors like Anthropic also launching similar health integration features [5] - OpenAI's move is part of a broader trend of acquisitions aimed at enhancing its technological capabilities and market position in healthcare [7] Group 4: Future Outlook - The integration of Torch's technology is anticipated to be implemented within the next 3 to 6 months, further advancing AI applications in personal health management [6]

北京商报讯（记者 魏蔚）1月13日，百川智能正式开源新一代医疗大模型 Baichuan-M3，该模型在全球 最权威的医疗 AI 评测 HealthBench 中以 65.1 分的综合成绩位列全球第一；在专门考验复杂决策能力的 HealthBench Hard 上，以44.4分的成绩夺冠。同时，M3 具备了原生的"端到端"严肃问诊能力，能像医生 一样主动追问、逐层逼近，把关键病史和风险信号问出来，进而在完整的信息上进行深度医学推理。目 前，医疗应用"百小应"已同步接入 M3，面向医生与患者开放相关能力。 ...

Core Insights - DeepSeek has not engaged in new financing or significant commercialization activities despite the buzz surrounding large model players in the market [1] - DeepSeek continues to produce high-quality research papers, indicating a stable output of academic contributions [2] - The financial success of its parent company, Huanfang Quantitative, which earned approximately $7 billion last year, provides substantial funding for DeepSeek's research endeavors [6][8] Group 1: Financial Performance - Huanfang Quantitative's funds are showing impressive returns, with nearly all of its funds projected to yield over 55% in 2025 [3] - The average return for quantitative funds in China last year was 30.5%, significantly outperforming global competitors [4] - Huanfang Quantitative's asset management exceeds $70 billion, contributing to its substantial earnings [7] Group 2: Research and Development - DeepSeek's research expenditures are relatively low, with the latest V3 training costing $557,600 and R1 costing $29,400, allowing for the potential production of numerous models with available funds [6] - DeepSeek has maintained a focus on AGI research without the pressure of immediate financial returns, as it has not accepted external funding and is not tied to any major tech company [11][15] - The company has consistently released significant research outputs, including recent advancements in OCR and V3.2, while also open-sourcing components like the memory module [9][10] Group 3: Market Position and Strategy - DeepSeek operates with a unique business model that allows it to focus solely on AGI without the distractions of monetization pressures [10][12] - The company benefits from a stable and committed research team, with minimal turnover and even some returning members, indicating a strong internal culture [28][30] - DeepSeek's research outputs have become valuable to investors, as its technical papers provide insights that influence stock movements in related hardware companies [34][39] Group 4: Competitive Landscape - Compared to other major players like OpenAI, DeepSeek's approach is characterized by a lack of aggressive monetization strategies, focusing instead on pure research [26][9] - The ability to leverage a mature business model for cross-subsidization of AI research is often underestimated in the market [19][20] - DeepSeek's model integrates the strengths of both established companies and pure AI startups, positioning it uniquely in the competitive landscape [26]