机器之心报道 机器之心编辑部 2012 年 12 月，美国太浩湖畔 Harrah's 酒店的 731 房间，一场足以载入 AI 史册的秘密竞拍正在进行。 彼时，余凯代表百度，与 Google、微软以及当时还名不见经传的 DeepMind，共同竞购「深度学习之父」杰夫·辛顿（Geoff Hinton）及其学生组成的初 创团队。那场竞拍最终以 Google 胜出告终，但正如余凯在《深度学习革命》序言中所写，那是「深度学习推动全球科技产业变革的发令枪」。 正是在那段时期，余凯敏锐地观察到：GPU 虽然让深度学习成为了可能，但它本质是为图形渲染设计，「无心插柳」的效率并不极致。「如果专门为深度 学习设计加速芯片，会不会效率更高？」这个反思，直接促成了地平线的诞生。 13 年后的今天，站在从「数字智能」向「物理智能」跨越的拐点，余凯似乎再次扣动了扳机。 在深圳前海的聚光灯下，地平线创始人余凯博士并没有直接抛出参数，而是先谈起了一场跨越十年的「星际探索」：2015 年 7 月 14 日，人类探索宇宙的 历程迎来了另一个里程碑，NASA 的「新视野号」（New Horizons）探测器飞掠冥王星，将人类的认知边疆推向了太阳 ...

胜宏科技 300476 已收盘 12-09 15:31:06 北京 15.69万人加自选 __ _ 318.05 +31.04 +10.81% CN 融 通 L1 总市值 2768.15亿 量 69.20万手 高 318.08 开 289.97 低 288.71 换 8.09% 额 213.19亿 市盈TTM 76.16 五日 日K 目K 生K 分钟 · 分时 围K 室K 均价:308.09 最新:318.05 +31.04 +10.81% 9 10.83% 318.08 解锁高级行情 > 卖5 318.09 42 卖4 318.08 52 卖3 318.07 13 卖2 1700 318.06 卖1 318.05 693 0.00% 287.01 买1 318.04 3 买2 318.03 25 买3 318.02 72 买4 318.01 198 1127 买5 318.00 明细 ▲ -10.83% 15:22 255.94 318.05 2 成交量 69.2万手 盘后: 42手 15:24 318.05 1 19566 15:24 318.05 1 15:25 318.05 1 15:29 318.0 ...

Market Overview - The A-share market showed divergence on December 9, with the Shanghai Composite Index down 0.13% to 3918.83 points, while the Shenzhen Component Index rose 0.09% and the ChiNext Index increased by 1.07% [1] - The total trading volume in the A-share market reached 1.26 trillion yuan [1] Industry Developments - Nvidia is expected to re-enter the Chinese market, as the U.S. government announced it would allow Nvidia to sell its H200 AI chips to China, imposing a 25% fee per chip. This arrangement will also apply to other AI chip companies like AMD and Intel [3] - The Fujian Province's action plan for the electric ship industry (2026-2028) supports the construction and operation of electric sightseeing boats and ferries, particularly in the Xiamen-Kinmen route [3] - The Xiamen municipal measures to promote the integrated circuit industry include subsidies for companies involved in core equipment and key materials for semiconductor manufacturing [3] Sector Performance - The CPO concept stocks saw a resurgence, with companies like Shaanxi Huada and Dekeli leading the gains, while Fujian local stocks such as Anji Food and Longzhou Co. also experienced significant short-term increases [4] - The telecommunications sector led the market with an average increase of 3.82%, while coal and non-ferrous metals sectors saw declines of 1.87% and 1.72%, respectively [5] Company Insights - China Shipbuilding is recognized as the largest and most comprehensive listed shipbuilding giant globally, positioning it well to capitalize on the upturn in the global shipbuilding industry [8] - China Power's low-speed machinery products are essential for ocean-going vessels and are expected to benefit from the improving shipbuilding industry [8] - China Marine Defense, a leader in underwater defense equipment, is anticipated to expand its business in the context of rising demand for unmanned technologies [9] - China Shipbuilding Defense's products related to marine engineering platforms and wind power installation vessels are expected to benefit significantly from the national "deep-sea economy" strategy [9]

来自国盛证券的最新点评指出，所有科技进展仍然指向算力，Gemini3.0PRO跃迁式进展、 DeepSeekV3.2进展迅速但指出不管预训练、后训练有更多算力会更进步，字节手机展现出超级自定义 Agent场景，可能其他巨头不会再沉得住气。上述事件，对国内资本支出是好事，全行业支出有望进一 步提升，服务器链、AIDC链、算力服务链是明确利好。 对模型进步与应用形成亦是积极因子，DeepSeek证明国内厂商各类创新实际非常多，在有限算力情况 下仍然颇有亮点，更多的算力有可能带来更多的惊喜。另外，自主国产仍然是大浪潮，实际上H200也 是在RUBIN、BLACKWELL后2代，且国产顶尖厂商进步迅速，相信会快速逼近H200。且自主国产是保 证持续供应链稳定的基础，这也是产业、政策方的重点考虑因素，供参考。 外围的扰动 CPO再度杀疯！ 继昨日（12月8日）疯狂抢筹之后，今日（12月9日）早盘，算力板块再度大爆发，CPO概念头半个小时 成交近500亿元，中际旭创、新易盛、胜宏科技等大幅拉升，并带领创业板指走强。 消息面上，据环球网援引路透社、彭博社等媒体报道，美国总统特朗普当地时间12月8日在社交媒体上 发文宣布，美 ...

Summary of Conference Call on Domestic AI Chip Industry Industry Overview - The domestic AI chip industry is rapidly evolving as internet companies in China shift towards domestic AI chips to counter restrictions on high-end products from NVIDIA. Major players like ByteDance, Tencent, and Alibaba are increasing their procurement of products from companies such as Cambricon, Suiyuan, and their own TPUs and Pingtouge products to meet large-scale training needs and localization requirements [1][5]. Key Points and Arguments - **Performance Comparison**: Domestic AI chips are gradually approaching NVIDIA's high-end products, specifically targeting the A100/A800 series. The next generation is expected to achieve 60%-80% of the performance level of the H200 series, with inference capabilities already comparable to the H20 series [1][3]. - **Supply Chain Challenges**: The domestic AI chip industry faces a bottleneck in 7nm process capacity, necessitating multi-chip interconnects to enhance performance. Power management improvements are required, with air-cooled modules needing to reach 800-1,000 watts and liquid-cooled modules 1,200-1,500 watts [1][4]. - **Diverse Solutions**: Different companies have varying approaches to supernode solutions. For instance, Kunlunxin uses Ethernet switches, while Cambricon employs ByteDance's proprietary protocol. Other companies like Muxi and Tianshu rely on established solutions like P3E [1][9]. - **Market Demand**: The demand for domestic AI chips is increasing as companies like ByteDance plan to scale their operations significantly, with expectations of reaching 200,000 cards by 2025 and doubling to 500,000 by 2026. The overall market shipment is projected to be between 500,000 to 800,000 cards [2][5]. - **Ecosystem Development**: The general GPU route has advantages due to CUDA compatibility, while proprietary routes face ecological bottlenecks. Continuous updates are necessary to keep pace with the latest versions [4][6]. Additional Important Insights - **Government Initiatives**: The construction of government intelligence computing centers has slowed down, leading chip manufacturers to focus more on industry applications and internet demands. Key regions include Shanghai, Hefei, Hangzhou, Shenzhen, and Beijing [10][11]. - **International Operations**: Some domestic internet giants have established computing centers overseas to utilize advanced chips for model training, subsequently bringing the trained models back to China for fine-tuning and inference [16][17]. - **Competitive Landscape**: Companies like Huawei, Cambricon, and Haiguang are competing in the chip market, with Huawei's 910C currently holding an advantage over others like Haiguang's BW1,000 [19]. - **Future Trends**: The demand for domestic GPUs is expected to rise, particularly in sectors like finance and energy, as restrictions on imported products increase [7][8]. This summary encapsulates the key discussions and insights from the conference call regarding the domestic AI chip industry, highlighting the competitive landscape, performance benchmarks, and evolving market dynamics.

百度集团-SW(09888)发布公告，公司注意到，于2025年12月5日有媒体报道公司拟分拆非全资附属公司 昆仑芯(北京)科技有限公司进行独立上市。公司谨此澄清，目前正就拟议分拆及上市进行评估。倘进行 拟议分拆及上市，将须经相关监管审批程序，而公司并不保证拟议分拆及上市将会进行。 ...

Group 1 - Baidu is evaluating the proposed spin-off and independent listing of its subsidiary Kunlun Chip, which has become a key foundation for Baidu's AI capabilities [1] - The news of the potential spin-off has led to a rise in Baidu's stock price, indicating market optimism regarding the value of its AI computing assets [1] - The current environment is critical for domestic AI chip companies, with several firms like Moore Threads and Muxi preparing for IPOs [1] Group 2 - Major PC manufacturers including Lenovo, Dell, and HP are planning price increases due to rising storage costs, with increases expected to reach up to 20% [2] - Lenovo has notified customers that all server and computer prices will significantly increase starting January 1, 2026, while Dell is considering price hikes of at least 15% to 20% [2] - HP's CEO has warned that the second half of 2026 may be particularly challenging, indicating potential price adjustments if necessary [2] Group 3 - TrendForce has predicted a price adjustment for certain laptop panel sizes in December, with some prices expected to decrease by $0.1 to $0.2 [3] - Despite stable demand for laptop panels, some brand clients are pushing for more price concessions from panel manufacturers, indicating a shift in negotiation dynamics [3] - The pressure on panel manufacturers to adjust prices publicly may impact their profit margins and long-term investment in technology upgrades [3]

（原标题：百度集团：目前正就昆仑芯拟分拆上市进行评估 并不保证拟议分拆及上市将会进行） 人民财讯12月7日电，百度集团12月7日公告，公司注意到，于2025年12月5日有媒体报道公司拟分拆非 全资附属公司昆仑芯（北京）科技有限公司进行独立上市（拟议分拆及上市）。公司谨此澄清，目前正 就拟议分拆及上市进行评估。倘进行拟议分拆及上市，将须经相关监管审批程序，而本公司并不保证拟 议分拆及上市将会进行。 ...

智通财经APP讯，百度集团-SW(09888)发布公告，公司注意到，于2025年12月5日有媒体报道公司拟分 拆非全资附属公司昆仑芯(北京)科技有限公司进行独立上市。公司谨此澄清，目前正就拟议分拆及上市 进行评估。倘进行拟议分拆及上市，将须经相关监管审批程序，而公司并不保证拟议分拆及上市将会进 行。 ...

点击【樱桃大房子】关注并 人民币"硬气"了！ 今天（12月6日），美元兑人民币汇率报7.0717。近日，在岸和离岸人民币兑美元报价均升破关键点位，尽管短期走势有所波动，但整体趋势显著走强。 人民币这波升值，背后藏着2025年全球经济的大棋局。 今天，我们就来扒一扒，这波升值潮到底意味着什么？ 先聊聊人民币为什么强势升值？ 从外部因素来讲，美联储主席即将换人+12月降息预期的升温，是推动本轮人民币升值的关键因素。 美国进入降息周期，美元指数持续回落，中美利差持续扩大（下图红色箭头可见），人民币对美元贬值的压力瞬间小了一大截，为人民币对美元升值创造 了空间。 另一方面，美国经济增长放缓和政策上的反复无常，也加速了全球"去美元化"。 巴西、沙特、俄罗斯等资源大国，纷纷开始减少对美元的依赖，增加使用本币或人民币进行贸易结算。人民币在这场货币多元化的浪潮中，正成为重要选 项之一。 最主要的原因肯定还是我国自身，央行在引导人民币升值。 通过观察中间价与市场价的差异可以发现，过去一个多月人民币的中间价一直在即期价下方。这就差直接说："人民币可以升一升了！" 虽然近日二价合一，央行态度转为中性，但政策导向早已经为升值创造了条 ...