在经历了多年的基础设施建设后，2026年将成为AI技术验证的关键年份，市场焦点将从单纯的资本支 出转向应用层的实际效用与商业化回报。 据追风交易台消息，高盛全球投资研究团队Eric Sheridan等分析师于10日发布了2026年互联网行业展望 报告。报告提出，随着通用大语言模型（LLM）代理和聊天机器人使用率在2025年的提升，2026年或 将成为消费者计算领域的转折点。 市场关注的焦点将从单纯的付费订阅模式，转向包括广告、电商及代理功能在内的多元化变现途径。高 盛强调，AI技术必须在基础设施、模型平台及应用层持续交付动力并实现资本回报，以避免落入 Gartner技术成熟度曲线中的"幻灭低谷期"（Trough of Disillusionment）。 资本开支方面，尽管市场对"过度建设"存有疑虑，但高盛预计AI相关的资本投入在2026年仍将保持高 位。报告数据显示，过去一年市场对亚马逊、谷歌和META在2025及2026财年的资本开支（Capex）预 期分别上调了约46%和80%，两年合计增加约2500亿美元。这些在AI开发上的巨额投入能否转化为可见 的利润回报，将是未来12至18个月左右投资者情绪和公司业 ...

// 市场要闻 // 1、CPI、 PPI数据将公布 12月10日，国家统计局将公布11月CPI、PPI数据。 华创证券预计11月CPI同比增速有望从上月0.2%回升至0.7%左右。CPI同比增速大幅回升，主因是食品价格扰动。去年11月食品项环比 为-2.7%，是过去十年最低 ； 今年11月环比预计为1.1%。食品价格的波动主要源于天气影响下的菜价，今年10月中下旬以后气温偏低、秋雨 增多，局部地区遭受低温冷冻灾害或暴雨洪涝灾害，导致部分蔬菜市场供应偏紧。 2、11月金融数据或将公布 除CPI、PPI外，11月新增贷款、M2、社融等金融数据也或将在本周公布。 浙商证券预计11月人民币贷款新增3000亿元，同比少增2800亿元，对应增速回落0.1个百分点为6.4%；预计11月社融新增2.2万亿元，同比少 增约342 亿元，对应增速回落0.1 个百分点为8.4% ； 预计11 月M2 增速为8.0%，回落0.2个百分点 ； 预计11 月M1 增速为5.3%，回落0.9 个百 分点。 3、央行公开市场将有6638亿元逆回购到期 Wind数据显示，本周央行公开市场将有6638亿元逆回购到期，其中本周一至本周五分别到期 ...

Core Viewpoint - The article emphasizes the importance of brain-computer interface (BCI) technology as a key direction for cultivating future industrial sectors in China, highlighting the recent implementation of policies to promote innovation and development in this field [1][3]. Industry Development - The Ministry of Industry and Information Technology and six other departments have issued the "Implementation Opinions" to guide the high-quality development of the BCI industry in China, aiming to overcome technical bottlenecks and improve the industrial ecosystem [3][4]. - The BCI technology is positioned as a critical force for future industrial development, with China making significant progress in this area, although challenges such as core technology limitations and an incomplete industrial ecosystem remain [3][5]. Key Tasks and Focus Areas - The "Implementation Opinions" outline five key tasks and 14 specific initiatives to enhance innovation capabilities in the BCI industry, focusing on the development of foundational hardware and software, high-performance products, and the application of technological achievements [5][6]. - The document emphasizes the need for breakthroughs in signal acquisition, processing, and application across the entire value chain, including advancements in sensor components and chip technology [5][8]. Technological Innovations - The article discusses the integration of various technologies, such as light, magnetic, and ultrasound, to enhance the performance of non-invasive electrodes and improve the adaptability of implanted electrodes in different brain regions [1][5]. - It highlights the importance of developing high-density integrated devices and optimizing existing products like deep brain stimulators and cochlear implants for better clinical applicability [6][9]. Application and Market Expansion - The BCI technology is expected to create new pathways for public services, particularly in providing precise rehabilitation solutions for disabled individuals and patients with neurological disorders, thereby enhancing quality of life [4][10]. - The article outlines targeted engineering projects aimed at addressing core bottlenecks in the industry, including the development of portable and wearable health monitoring devices and applications in various fields such as industrial manufacturing and healthcare [9][10].

Group 1: Market Performance - The S&P 500 index is expected to reach new highs, with Q2 showing the largest quarterly gain in a year and a half [1] - U.S. Treasury bonds achieved their best performance for the first half of the year in five years, while the dollar experienced its largest decline for the same period since 1973 [1] Group 2: Trade Agreements - The EU is willing to accept a 10% tariff rate on various U.S. goods but seeks to exclude key industries [1] - Canada has made concessions by canceling the digital services tax, allowing U.S.-Canada trade negotiations to resume, aiming for an agreement by July 21 [1] Group 3: Economic Indicators - China's official manufacturing PMI rose for two consecutive months to 49.7 in June, with the new orders index returning to the expansion zone, while the non-manufacturing sector continues to expand [1] Group 4: Company Developments - Apple is reportedly considering external AI technologies to enhance Siri, potentially using third-party AI models from Anthropic or OpenAI; analyst Ming-Chi Kuo suggests Apple is preparing for a major release of seven headsets and AI glasses, with a significant breakthrough expected in 2027 [1] - Oracle secured a significant cloud contract, generating $30 billion in revenue over a year, with its stock price rising over 8% to reach a historical high [1]

Core Viewpoint - OpenAI plans to acquire AI hardware startup io for $6.5 billion, indicating that hardware remains a crucial part of its strategy, with the first AI devices expected to launch in 2026 [1][4][5] Group 1: Acquisition Details - The acquisition is expected to be completed in the summer of 2023, pending regulatory approval, and will be OpenAI's largest acquisition to date [1] - io was co-founded by Jony Ive and Sam Altman, aiming to create an "iPhone for the AI era" with a team of 55 members, including former Apple designers [5] - Jony Ive will not be a formal employee of OpenAI but will serve as a consultant, while his design firm LoveFrom will handle design tasks for OpenAI [5] Group 2: Strategic Intent - The acquisition aims to combine advanced AI technology with innovative hardware design to transform human-computer interaction [4][5] - OpenAI's strategy reflects a broader trend in the industry where companies are focusing on hardware to reach users and complete the commercial loop, rather than relying solely on models [6] Group 3: Competitive Landscape - Other AI companies, such as Meta and Google, are also developing their own hardware solutions, indicating a competitive environment in the AI hardware space [6][7] - Following OpenAI's announcement, Apple's stock dropped over 2%, suggesting potential market concerns regarding competition in the hardware sector [7] Group 4: Future Product Insights - OpenAI's first product is not intended to replace smartphones but to introduce a completely new type of device, with prototypes already being tested by Sam Altman [7] - io is exploring various product directions, including headphones, wearable devices with cameras, and AI-enabled home devices [8]