Core Viewpoint - The article emphasizes the urgent need for the integration of artificial intelligence (AI) in the energy sector, highlighting its role as a key technological engine for building a new energy system and driving industry innovation [3][4]. Group 1: Necessity for Breakthrough - AI is recognized as a strategic force leading a new wave of technological revolution and industrial transformation, significantly impacting energy production and consumption [3]. - Current AI applications in the energy sector are fragmented, leading to resource redundancy and systemic barriers, which hinder long-term development [3][4]. Group 2: Development Goals - The "Implementation Opinions" set two key development targets for 2027 and 2030, focusing on foundational work and establishing benchmarks in the initial phase, followed by comprehensive empowerment and ecosystem construction in the later phase [4]. - The 2027 goal aims to establish industry-level professional large models and typical scenario exploration, while the 2030 goal seeks to achieve world-leading levels in AI technology within the energy sector [4]. Group 3: Implementation Pathways - The article outlines a systematic approach to enhance the quality and efficiency of AI in the energy sector, focusing on key technological breakthroughs, widespread application of industry-level large models, and deep empowerment of high-value scenarios [5][6]. - Key technical directions include solidifying data foundations, enhancing computational power, and improving model capabilities to address common challenges in the energy sector [7]. Group 4: Deep Application of AI - The "Implementation Opinions" propose focusing on high-value application scenarios in areas such as power grids, new energy, and traditional energy sources, aiming to enhance AI's role in energy supply-demand balance and safety monitoring [9]. - The goal is to create an intelligent closed-loop system for perception, analysis, decision-making, and execution, driving energy security and green transformation [9]. Group 5: Innovation Ecosystem - The article stresses the importance of building an open and collaborative industrial ecosystem to support systemic changes in the energy sector [10]. - It highlights the need for pilot demonstrations to stimulate innovation, establish standard norms for orderly development, and strengthen collaborative innovation mechanisms [11][13][14].

宏观研究 证 券 研 究 报 告 【宏观月报】 5 月全球投资十大主线 事 项 5 月全球大类资产总体表现为：全球股票（5.72%）>大宗商品（1.26%）>人民 币（1.00%）> 0%>美元（-0.14%）>全球债券（-0.36%）。 主要观点 ❖ 十张图速览全球资产脉络 1、美国"大而美法案"通过或加剧美国长债风险。共和党推动的"大而美法 案"包括大规模减税及支出调整，引发市场对美国债务可持续性的担忧。当前 美国国债规模已突破 36 万亿美元，如果法案落地，预计 2035 年债务/GDP 比 率恐飙升至 134%-149%，引发市场对财政可持续性的深度担忧。在此背景下， 穆迪于 5 月 16 日将美国主权信用评级从 Aaa 下调至 Aa1。评级调降触发连锁 反应，30 年期美债收益率突破 5%，同时需求端结构性走弱，30 年期国债投标 认购比例显著回落，反映全球投资者对美债信用锚定的动摇。 2、美国经济衰退概率上升下美股防御性板块跑赢周期性板块。关税政策升级 与经济增速放缓的双重压力下，2025 年美国股市呈现出防御性板块跑赢周期 性板块的特征。截至 2025 年 5 月底，美股防御板块相比周期板块估值 ...