Group 1: Fund Establishments - Sichuan Social Security Science and Technology Innovation Fund officially signed with a total scale of 50 billion yuan, focusing on key industries and strategic emerging industries in Sichuan and the Chengdu-Chongqing economic circle [2] - Hubei Water Conservancy Development Industry Investment Fund established with a capital contribution of approximately 2 billion yuan, focusing on venture capital and private equity investment management [3] Group 2: Financing Activities - Moonshot AI completed a Series C financing round of 500 million USD (approximately 3.55 billion yuan), significantly exceeding its target, with current cash holdings exceeding 10 billion yuan [4] - Churui Intelligent completed a Series C financing round of several hundred million yuan, attracting local state-owned and industrial capital [4] - Hongxiong AI announced the completion of an 80 million yuan Pre-A+ financing round, focusing on building a customer intelligent interaction service platform [6] Group 3: IPO Developments - Blue Arrow Aerospace's IPO application accepted on the Sci-Tech Innovation Board, aiming to become the first commercial aerospace stock [7] - Changxin Technology's IPO application accepted, planning to raise 29.5 billion yuan, potentially setting a record for IPO fundraising on the Sci-Tech Innovation Board [7] - Zhiyu Technology initiated its IPO process, with a market valuation potentially exceeding 51.8 billion HKD [8] Group 4: Corporate Developments - Guizhou Moutai established a wholly-owned subsidiary, Guizhou Aimaotai Digital Technology Co., Ltd., with a registered capital of 600 million yuan [11] - Xiaoma Zhixing's Robotaxi fleet exceeded 1,159 vehicles, surpassing its 2025 strategic goal ahead of schedule [11]

Investment Rating - The report suggests a focus on AI consumer applications, embodied intelligence, autonomous driving, and XR technologies, indicating a positive outlook for companies in these sectors [6][24]. Core Insights - The CES 2026 event is highlighted as a key opportunity to observe advancements in AI, particularly in consumer applications such as AI PCs and embodied intelligence [6][24]. - Significant developments in chip technology are anticipated, with AMD, Intel, and Qualcomm expected to unveil new products that enhance processing capabilities [2][11]. - The report emphasizes the evolution of video models into general visual foundation models, showcasing the capabilities of Google DeepMind's Veo 3 [5][14]. - DeepSeek's mHC architecture aims to address the stability issues in training large models, which could lead to more reliable AI applications [18][19]. Summary by Sections CES 2026 Preview - Focus on new chip products from leading companies: AMD's Ryzen 7 9850X3D and Intel's Panther Lake chips, which promise a 50% performance increase [2][11]. - Emphasis on advancements in autonomous driving technologies, with companies like Sony Honda Mobility and BMW showcasing new models and AI systems [3][12]. Technology Industry Dynamics - Google DeepMind's research indicates that video models are evolving into versatile visual models capable of zero-shot learning, enhancing their applicability across various tasks [5][14]. - DeepSeek's mHC architecture is designed to improve the training stability of large models while maintaining high expressiveness, potentially paving the way for larger-scale model training [18][19]. Weekly Insights - The report recommends focusing on companies that can effectively implement AI technologies in real-world scenarios, particularly in hardware and platforms that support multimodal reasoning [6][24]. - Suggested companies for investment include NVIDIA, Tesla, LITE, AVGO, and Google, which are positioned to benefit from advancements in AI and computing infrastructure [6][24].

Group 1: AI Hardware and Applications - CES has become a major showcase for cutting-edge AI hardware, with a focus on consumer-grade AI expected to accelerate by 2026, featuring AI-enabled robots and wearable devices [2] - Companies like Zhaowei and Megmeet are showcasing advanced AI products at CES, including a new dexterous hand with 20 degrees of freedom and high-performance AI modules for robotics [2] - The AI medical sector is entering a critical commercialization phase, supported by new policies from Beijing aimed at fostering innovation and product evaluation in AI healthcare [7][8] Group 2: Low-altitude Economy - The low-altitude economy is at a pivotal growth stage, with approximately 30 provinces incorporating it into their 14th Five-Year Plans, indicating strong governmental support [3] - Major eVTOL manufacturers are seeing orders materialize, and the industry is expected to grow significantly over the next 3-5 years as regulatory frameworks and infrastructure improve [3][4] Group 3: Autonomous Driving - Significant advancements in autonomous driving have been reported, with China officially entering the mass production phase for L3 vehicles, marking a regulatory breakthrough [6] - Companies like Haon Automotive are actively involved in the development of intelligent driving systems, collaborating with leading domestic automakers [6] Group 4: AI Model Development - The AI application landscape is shifting towards performance realization and edge computing, with notable advancements in multimodal models like Google's Gemini-3-pro and domestic models like Doubao [9] - The investment logic in the AI industry is transitioning from a focus on computational power to application value, highlighting the importance of software and high-growth edge hardware companies [9]

Core Insights - The article discusses the increasing application of VLA models in end-to-end autonomous driving systems, highlighting the challenges posed by lengthy visual tokens that significantly raise computational costs [2][8] - A new paradigm for efficient visual token pruning in autonomous driving VLA models is introduced through the paper "FastDriveVLA," co-authored by Xiaopeng Motors and Peking University [2][5] - The research proposes that visual tokens related to foreground information are more valuable than those related to background content, leading to the development of a large-scale annotated dataset, nuScenes-FG, containing 241,000 images with foreground area annotations [2][13] Summary by Sections Research Background and Issues - End-to-end autonomous driving shows great potential to transform future transportation systems, learning the entire driving process within a unified framework [6] - Existing VLA models convert visual inputs into numerous visual tokens, resulting in significant computational overhead and increased inference latency, posing challenges for real-world deployment [8] Methodology and Innovations - FastDriveVLA is a novel, reconstruction-based visual token pruning framework tailored for end-to-end autonomous driving VLA models [10] - The framework includes a lightweight, plug-and-play pruner called ReconPruner, which identifies and selects meaningful foreground visual tokens using a masked image modeling approach [16][18] - An innovative adversarial foreground-background reconstruction strategy is introduced to enhance ReconPruner's ability to distinguish between foreground and background tokens [19] Experimental Results - FastDriveVLA demonstrates state-of-the-art performance across various pruning ratios in the nuScenes open-loop planning benchmark [20][25] - When the number of visual tokens is reduced from 3,249 to 812, FastDriveVLA achieves a reduction in FLOPs by approximately 7.5 times and significantly improves CUDA inference latency [26] - The framework outperforms existing methods, particularly at a 50% pruning ratio, achieving a balanced performance across all metrics [25] Efficiency Analysis - FastDriveVLA's efficiency is highlighted by its substantial reduction in FLOPs and CUDA latency, showcasing its potential for real-time applications in autonomous driving [26][27] - At a 25% pruning rate, FastDriveVLA shows the best performance across all evaluation metrics, indicating that focusing on foreground-related visual tokens is crucial for enhancing autonomous driving performance [28]

特斯拉的Robotaxi已经在北美地区开启试运营，但根据海外社交平台博主Sawyer Merritt的爆料：特斯拉不仅计划对无人出租车收取清洁费，还玩起了「阶梯 定价」——按车内脏乱程度分两档收费，50美元起步，重度脏污直接飙到150美元！ 截图：X@Sawyer Merritt 在下方评论的海外用户纷纷叫好，认为此举可以大大减少乘客在车内制造脏乱的行为，而且电车通编辑在此前报道CES时入住拉斯维加斯某酒店也被额外收 取了"清洁费"，看来在北美市场针对服务额外收费似乎并没什么不合理。 不过也有网友对此感到担忧，并指责特斯拉的清洁费标准过高，50美元的起征点已经很离谱，150美元的清洁费更是近乎「天价」，存在利用无人化服务垄 断优势来「收割用户」之嫌。这不禁让人思考：清洁费究竟是马斯克急于变现的「收割行为」，还是Robotaxi赛道走向成熟必须跨越的「规范化门槛」？ 国内的萝卜快跑、小马智行等自动驾驶企业均未主动列出清洁费，但一次亲身提车经历，让电车通坚定支持企业加收这一费用。 图源：特斯拉官方 清洁是底线！Robotaxi收费合情合理 电车通相信，反对清洁费的网友只有一小部分，毕竟对于大多数人而言，特斯拉收取 ...

Core Insights - NIO's NWM 2.0 launch has reportedly shown promising results, with expectations for the world model to deliver surprises in intelligent driving [1] - The concept of the world model is crucial for understanding spatiotemporal cognition, which is essential for autonomous driving systems [1] Group 1: World Model Concept - The world model focuses on high-bandwidth cognitive systems that directly utilize video data rather than converting it into language, addressing the limitations of language models in modeling real-world spatiotemporal dynamics [1] - The world model encompasses two levels of cognition: spatiotemporal understanding and conceptual understanding, with the former being critical for autonomous driving applications [1] Group 2: Industry Applications and Challenges - Various companies are building their own cloud and vehicle-based world models using open-source algorithms for data generation and closed-loop simulation [1] - The definition of a world model remains ambiguous, leading to confusion among newcomers in the field, who often struggle to grasp the concept and its applications [1] Group 3: Course Overview - A course is being offered to help individuals understand the world model in autonomous driving, covering topics from foundational principles to practical applications [6][11] - The course includes multiple chapters focusing on the history, background knowledge, and various streams of world models, including pure simulation and generative models [6][7][8] Group 4: Technical Foundations - The course will cover essential technical concepts such as Transformer architecture, BEV perception, and occupancy networks, which are critical for understanding world models [12][14] - Participants are expected to have a foundational knowledge of autonomous driving modules and relevant programming skills to fully benefit from the course [14]

点击下方 卡片 ，关注" 自动驾驶之心 "公众号 戳我-> 领取 自动驾驶近30个 方向 学习 路线 >>自动驾驶前沿信息获取 → 自动驾驶之心知识星球 论文作者 | Tianze Xia等 编辑 | 自动驾驶之心 近年来，得益于感知（如 BEVFormer, MapTR, BEVDet 等）和规划（如 UniAD, VAD, DiffusionDrive, ReCogDrive 等）的突破性进展，自动驾驶技术取得了长足进步。 然而，现有系统在面对 长尾场景 时依然显得脆弱，严重制约了闭环驾驶的性能。为了解决这一难题，近期大量研究工作尝试运用 世界模型（World Models） ，旨在 通过预测驾驶场景的未来演变来增强系统的泛化性与鲁棒性来解决长尾问题。 目前，世界模型在自动驾驶中的应用已百花齐放：一类致力于合成下游任务数据以应对罕见场景（如 VISTA, GAIA, MagicDrive, DriveDreamer, DrivingDiffusion）；另 一类利用模拟环境进行策略学习（如 RAD, ReSim, OmniNWM）；还有一类则提供未来的视觉预测作为辅助监督信号（如 DriveVLA, Dr ...

Group 1 - China's economy is expected to reach 140 trillion yuan this year, marking a significant increase in economic, technological, and national defense strength [1] - The introduction of L3-level autonomous driving license plates in Beijing and Chongqing signifies China's leadership in the electric vehicle sector and its rapid advancement towards smart technology [3] - The Hainan Free Trade Port has expanded its "zero tariff" goods to over 6,600 items, with the first day of customs clearance valued at over 500 million yuan, showcasing the benefits of open trade policies [3] Group 2 - The cultural and tourism market is thriving, with increased attendance at cultural venues and events, reflecting a growing demand for cultural experiences and boosting consumer confidence [4] - Policies supporting the replacement of old products with new ones, particularly in the automotive and home appliance sectors, are being enhanced to meet consumer demand for high-tech and green products [6] - The implementation of various social welfare policies, such as free preschool education and the addition of 114 new drugs to medical insurance, aims to invest in human resources and promote long-term economic returns [6]

招商证券国际发表研报指，首次覆盖小马智行H股并予"增持"评级，指其属L4领域先行者，技术及商业 化能力构筑护城河。依托于世界模型和虚拟司机技术，公司在L4领域深耕厚植，更在商业化应用方面 取得了实质性突破，尤其是去年第三季度在广州实现的Robotaxi单车盈利转正，标志着其商业化迎来阶 段性的里程碑式时刻。该行表示，小马智行凭借先发优势和行业地位，公司在自动驾驶出行服务和自动 驾驶货车领域占据重要的市场份额，随着第七代车型的加速部署和车队规模扩大，强劲的增长势头有望 延续。 ...

招商证券国际发表研报指，首次覆盖小马智行H股并予"增持"评级，指其属L4领域先行者，技术及商业 化能力构筑护城河。依托于世界模型和虚拟司机技术，公司在L4领域深耕厚植，更在商业化应用方面 取得了实质性突破，尤其是去年第三季度在广州实现的Robotaxi单车盈利转正，标志着其商业化迎来阶 段性的里程碑式时刻。该行表示，小马智行凭借先发优势和行业地位，公司在自动驾驶出行服务和自动 驾驶货车领域占据重要的市场份额，随着第七代车型的加速部署和车队规模扩大，强劲的增长势头有望 延续。 ...