将投中网设为"星标⭐"，第一时间收获最新推送 一位做 FA 的朋友跟我抱怨，趁着这波 AI 势头而起的 FA 干的都是最基础的事儿，拉群，列出一水的美元基金名单，基本不 需要提供太深度的服务，然而他眼见着有的人已经把微信昵称换成了"每天 5 个 TS "。 说起来，这跟前些年产业投资风靡，强调精品 FA 的路数很不一样。背后的原因是， AI 相关赛道，还是有大厂光环的人好融 资。 FA 的策略变得更直接，就是盯大厂出来的人。 FA重点盯的人，就是资本的流向。 作者丨 刘燕秋 来源丨 投中网 都知道 AI 硬件热，热到什么程度呢？我听说，有的 FA 已经把办公室搬到大疆旁边了。也不止 FA ，在大疆所在的深圳留仙 洞总部基地片区，高瓴、李泽湘发起的深圳科创学院孵化基金等机构也坐落于此。 FA 重点盯的人，就是资本的流向。不成文的规则是软件盯字节，硬件盯大疆。 FA 甚至把办公室设在大疆边上，动员大家结 识大疆的员工，盯紧人员的最新动态。也有 FA 给员工定下 KPI ，一周至少要见一到两个字节和大疆的管理层。 当然了，如果仔细捋一捋最近披露的融资情况，会发现大疆只是源头之一，追觅、小米以及其他硬件厂商或在互联网 ...

Core Insights - Chinese AI startups are rapidly capturing global market share with innovative products like smart recording devices and AI toys, while also expanding into overseas markets with technologies like Robotaxi [1][4]. Industry Overview - The efficiency of China's manufacturing supply chain, rapid AI iteration, and keen product awareness are driving competitive advantages for domestic companies [2][6]. - The AI hardware sector is experiencing a wave of innovation, with companies like Plaud.AI achieving significant sales milestones and funding rounds for AI toy startups [3][5]. Market Dynamics - The emergence of AI hardware is not just a product innovation race but a transformation of the industrial paradigm, shifting from "cost-effectiveness" to "intelligence" [5][7]. - Chinese companies are leveraging their technological capabilities to redefine standards in new hardware, moving beyond simple manufacturing to creating advanced solutions [4][6]. Technological Advancements - The integration of AI and manufacturing is leading to a new generation of AI hardware products, supported by a robust domestic supply chain that enhances product development speed and market responsiveness [6][7]. - The domestic AI chip industry is witnessing significant growth, with several companies preparing for IPOs and reporting substantial business orders, indicating a shift from experimental products to commercially viable solutions [8][11]. Ecosystem Collaboration - The collaboration among various stakeholders in the AI ecosystem is crucial for overcoming challenges in computing power and establishing a unified architecture for AI applications [14][16]. - Companies are focusing on building open systems and protocols to enhance interoperability and efficiency in AI computing, which is essential for scaling operations [15][16]. Future Outlook - The convergence of capital investment and technological breakthroughs is expected to solidify China's position in the global AI landscape, transitioning from a follower to a leader in AI innovation [17][18].

Super Micro Computer (NASDAQ: SMCI ) (NEOE: SMCI:CA ) has been perhaps the most talked-about name in AI hardware but one of the least understood. The company is at the center of the world’s largest CapEx cycle in decades, providingHi, I'm Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. bu ...

以下文章来源于乌鸦智能说 ，作者智能乌鸦 乌鸦智能说 . 人人都能读懂的AI商业 来源丨乌鸦智能说（ID： wuyazhinengshuo ） 作者丨 林白 图源丨 Plaud.ai 要说这波中国AI浪潮里，谁是最成功的AI硬件？ 答案可能超乎你想象。不是热炒的AI眼镜，也不是可爱的AI玩具，而是一张小小的AI录音卡片。 如果只看数据，它大概是迄今为止中国厂商最成功的AI硬件。真正把这个品类带火的，就是Plaud。 截至目前，Plaud全球出货量已突破百万台，从2023到2025连续两年保持10倍增长，今年预计收入 2.5亿美元。更狠的是，其中差不多一半来自年度AI订阅服务，盈利能力远超传统硬件。 朱啸虎甚至透露，Plaud 已冲到10亿美元估值，大厂们都在排队要投。如今，阿里、360等巨头也开 始盯上这块"小卡片"。 问题就来了：在Plaud之前，录音笔这种功能类似的产品早就存在，为什么AI录音卡片还能杀出一条 新路，做到这种规模？ 今天，乌鸦君就带你聊聊，藏在AI录音卡片背后的趋势与逻辑。 人人都在抢的"AI录音卡片" 用一句话概括，AI录音卡片就是，录音笔+会议机+翻译机+AI助理的集合体。 它是一张能 ...

Vi e w point | 28 Sep 2025 18:23:29 ET │ 12 pages China Technology & Communications Post 2Q25 Asia Marketing Feedback CITI'S TAKE We met with over 40institutional investors inHK/SG in the pasttwoweeks. Our last stock pitch suggested over 110% return since June marketing feedback. Heading into 4Q25, we expect (i) AI chain sentiment to rebound on several catalysts in October post Golden Week afterrecent profit-taking, (ii) Apple chain profit taking may be ahead after next build plan update and 1Q26 low season ...

中信建投证券指出，当前人工智能产业正处于技术突破与商业化落地的关键阶段，算力需求持续爆发带 动AI芯片、光模块、服务器等硬件产业链维持高景气。同时，人工智能在金融、医疗、教育等垂直领 域的渗透率快速提升，大模型技术的商业化应用加速推进，预计未来两年人工智能产业链将保持高速增 长，各细分领域龙头企业有望持续受益。 华龙证券此前指出，光模块行业业绩表现亮眼，AI技术的快速发展带动光模块需求持续增长;三大运营 商行业收入保持稳定，成本管控能力提升，AI的快速发展也带动运营商云收入持续提升；同时有望给 通信设备制造商带来增量需求；我国商业航天的快速发展也有望给卫星互联网行业带来机遇。 近期新能源电池利好频传，9月28日，工业和信息化部等、八部门印发《有色金属行业稳增长工作方案 （2025—2026年）》，提出加快全固态电池材料等高端产品应用验证。 需求方面，锂电板块9月排产较为旺盛，下游储能景气度持续向好；海外或将逐步进入新车周期；明年 国内购置税减免退坡进一步激化锂电池抢装。 业绩端，目前头部电池厂的产能利用率都已提升至历史较高水平，上半年锂电龙头产能利用率达 89.9%。此外，设备龙头2025年上半年新签订单实现 ...

除美国外，SuperX近期在日本、中国等市场都展开了紧锣密鼓的布局动作。 7月28日，SuperX宣布旗下子公司SuperX Industries Pte.Ltd.计划在日本建立其首个区域人工智能供应中 心，该中心预计2025年下半年投产，全面投入运营后，将具备每年为1万台SuperX自有品牌高性能AI服 务器进行最终组装、系统集成与严格品控的交付能力。AI供应中心将专注于公司品牌核心产品(包括高 性能人工智能服务器、高压直流(HVDC)电源系统和高密度液体冷却解决方案)的最终组装、系统集成和 质量控制，能够为日本及亚洲客户提供更快速、更贴近本地需求的交付体验。 7月30日，SuperX正式发布最新旗舰产品SuperX XN9160-B200AI服务器。该服务器搭载NVIDIA最新一 代Blackwell架构GPU(B200)，旨在满足客户对人工智能(AI)、机器学习(ML)和高性能计算(HPC)应用程 序的高性能和可扩展性的算力需求。 9月15日，SuperX子公司牵手中国数字能源企业中恒电气（002364）设立合资公司SuperX Digital Power Pte.Ltd，双方将整合在客户资源、技术储备 ...

AI时代，在革新原有的智能终端同时，大家也都在寻找AI时代的新硬件和新机遇。只是，虽然有类似 于AI Pin等新形态产品的面世，但最终都被市场验证是个失败品。 值得一提的是，有一家来自深圳的公司很特别，从对话智能角度切入，推出的AI纪要产品早前已在全 球热销，也成为市场公认的最成功的AI硬件之一，并得到了金沙江创投主管合伙人朱啸虎的认可， 称"真正适合商业化的AI创业项目往往具有技术稳定的特点，Plaud就具有大规模商业化落地前景。" 公开资料显示，Plaud以录音设备为切入点，曾推出全球首款且销量第一的卡片式AI纪要产品Plaud Note 以及可穿戴式产品Plaud NotePin，年收入超1亿美金。日前，Plaud正式宣布入局中国市场，上架开售 Plaud NotePin S、Plaud Note Pro和Plaud Note三款产品，售价分别为1249元、1299元和1149元。 "中国是全球最大的统一市场。我们对中国市场的商业化有一定期待，但在这方面会时刻保持冷静克 制，不太希望因为商业上的诉求，从而去影响我们对于用户的服务或产品体验，我们永远都会秉持说是 不是先能服务好用户。"Plaud合伙人兼全 ...

Core Insights - Plaud is recognized as a leading example of successful commercialization in the AI hardware sector, achieving sales in 170 countries and exceeding 1 million units shipped within three years of establishment [1][3] - The company anticipates a total revenue of $250 million by September 2025, which includes both hardware and subscription-based AI software [1][3] - Plaud's product lineup includes the Plaud Note, Plaud Note Pro, and Plaud NotePin S, with a focus on AI-driven meeting summaries [1][3] Company Strategy - Plaud's strategy involves launching products overseas first to build interest before entering the domestic market, a common approach among AI hardware startups [3] - The company emphasizes a singular focus on AI meeting summaries, avoiding distractions from other functionalities like document creation or lifestyle applications [10][49] - Plaud's team is significantly larger than many competitors, with over 400 employees dedicated to the mission of expanding user intelligence [5][25] Product Differentiation - The company targets a niche in conversation-driven work environments, contrasting with competitors that focus on document-driven solutions [6][24] - The newly introduced "Ask Plaud" feature allows users to engage in a question-and-answer format with the AI, enhancing user interaction [7][10] - Plaud's hardware is designed to capture context and user intention effectively, which is deemed essential for maximizing AI utility [56][58] Market Positioning - Despite competition from established players like DingTalk and 360, Plaud maintains its pricing strategy without undercutting, reflecting confidence in its product value [5][11] - The company aims to position itself as a "work companion" rather than a mere efficiency tool, focusing on providing intellectual value rather than just operational assistance [16][45] - Plaud's pricing strategy in China aligns with international pricing, indicating a belief in the product's value rather than competing solely on cost [61][59] Future Outlook - The company is focused on leveraging advancements in AI models to enhance product value, rather than prioritizing immediate profitability [62][70] - Plaud's growth trajectory is closely monitored, with a commitment to continuous innovation and adaptation to market demands [65][68] - The management emphasizes a culture of quick decision-making and rational discourse, which is seen as vital for navigating the fast-evolving tech landscape [34][37]

Group 1 - The AI glasses sector leads the market with a rise of 5.78% [1] - Chip Origin Co., Ltd. increased by 19.48% [1] - Zhongke Blue Communication rose by 14.29% [1] - Runxin Technology saw an increase of 14.06% [1] - JuCheng Co., Ltd., Jiangbolong, and Guoguang Electric all experienced gains exceeding 10% [1]