1月27日，截至港股收盘，AI应用概念大涨，MINIMAX-WP涨26.48%，智谱涨7.56%，阿里巴巴涨幅近3%。 | 名称 | 现价 | 涨跌幅▼ | | --- | --- | --- | | MINIMAX-WP | 488.200 | 26.48% | | 0100.HK | | | | 佰达国际控股 | 0.870 | 22.54% | | 1949.HK | | | | 果下科技 | 61.850 | 10.74% | | 2655.HK | | | | 美川云 | 7.550 | 9.74% | | 3896.HK | | | | 迅策 | 60.500 | 9.60% | | 3317.HK | | | | 智谱 | 233.400 | 7.56% | | 2513.HK | | | | 阿里巴巴-W | 169.900 | 2.85% | | 0000 LIV | | | 大厂AI之战，激烈度陡然升级。 马化腾在腾讯年会上罕见地公开反思，直言"AI速度慢了"，还点评了"千问全面接入阿里生态"，称腾讯会一体化考虑大模型和AI产品，试图以"元宝 派"打开新空间；百度智能云将"2026年AI相 ...

Core Viewpoint - The article discusses the escalating competition among major tech companies in the AI sector, highlighting Alibaba's recent advancements and strategic moves in AI model development and ecosystem integration [2][4][12]. Group 1: AI Model Developments - Alibaba released its flagship reasoning model Qwen3-Max-Thinking, which is claimed to be the largest and most capable model in China, outperforming international models like GPT-5.2 and Gemini 3 Pro in several benchmark tests [4][6]. - The model features over one trillion parameters and has set new records in 19 authoritative benchmark tests, showcasing significant advancements in reasoning capabilities [6][8]. - A novel Test-time Scaling mechanism enhances the model's reasoning efficiency, allowing it to extract and refine previous reasoning results for smarter outcomes [8][9]. Group 2: Ecosystem Integration - Alibaba is integrating Qwen into its broader ecosystem, aiming to create a seamless AI experience for users, enabling functionalities like booking, shopping, and payment through natural dialogue [12][13]. - The establishment of the Qwen C-end business group signifies Alibaba's commitment to consumer-facing AI products, with plans to expand its capabilities across various services within the Alibaba ecosystem [12][13]. - The independent operation of Alibaba's chip company, Pingtouge, is aimed at transforming it into a revenue-generating entity, supporting the AI model and cloud services while reducing dependency on external suppliers [11][12]. Group 3: Competitive Landscape - Other tech giants are also intensifying their AI strategies, with Tencent focusing on integrating AI into its social applications, while Baidu emphasizes AI cloud solutions for enterprise clients [14]. - ByteDance is exploring hardware opportunities with its AI products, indicating a diverse approach to establishing AI as a core business component [14]. - The competition is shifting from merely developing AI models to creating comprehensive ecosystems that combine models, applications, and user experiences [13][14].

Core Viewpoint - Huawei's Ascend is positioning itself as a competitive alternative to NVIDIA by leveraging a system-level engineering breakthrough rather than focusing solely on individual chip performance [5][12]. Technical Breakdown - The "CloudMatrix 384 Super Node" consists of 384 Ascend 910 chips and 192 Kunpeng CPUs, interconnected to function as a single efficient unit [2][4]. - Unlike NVIDIA's reliance on copper cables for inter-chip communication, Huawei has developed a fully peer-to-peer interconnect bus using optical cables, significantly enhancing data transmission efficiency [8][10]. - Huawei's approach includes advanced mathematical algorithms for scheduling, deep hardware-software collaboration, and effective thermal management, contributing to the overall performance of the Ascend system [11]. Competitive Landscape - Huawei acknowledges a gap in chip technology, as NVIDIA has advanced to 3nm processes, while Huawei's chips are still a generation behind [14]. - The software ecosystem remains a challenge, with Huawei's CANN still needing to catch up to NVIDIA's established CUDA framework [15]. - Despite these challenges, Huawei is gaining traction in the Chinese market, especially as companies adapt to domestic chips due to restrictions on NVIDIA's products [16]. Industry Dynamics - The domestic AI chip market is diversifying into three main factions: tech giants like Huawei, pure chip manufacturers, and niche players focusing on specific applications [16]. - The pressure from U.S. sanctions has inadvertently spurred growth in China's semiconductor industry, allowing companies like Huawei to innovate and optimize system performance rather than solely competing on chip specifications [16][17].