指数盘中再创新高后尾盘出现回落，收盘沪指仍然站在 5 日均线之上。周二沪指早盘再次创出近期 新高，但尾盘市场出现一定震荡回落，科技成长类板块出现一定调整，最终收盘沪指仍然位于 5 日均线 之上。全天板块和个股表现分化，个股表现涨跌互现，显示市场在临近 3900 点时存在一定分歧。目前 市场沿着短期均线震荡盘升的态势明确，上行趋势保持良好，不必对短期震荡过度担忧。 本报告的版权归本公司所有，属于非公开资料。本公司对本报告保留一切歌称。除非另有良面面示，否就本报告中的所有材料的板内网 本公司还不经本公司等年来 中国歌歌 二本相关的手包部分 均不得以任何方式制作任何形式的排贝、复印件或复制品，或再次分发给任何其他人，或以任何硬犯本公司版权的其他方式使用。所有本报告中使用的商标、服务标记及标记均为本公司的商标。 服务标记及标记,未获本公司同意,任何人均无权在任何情况下使用他们。 盘面回顾：指数小幅震荡回落，调整幅度有限。周二指数在盘中再次创出近期新高后出现一定震 荡，尾盘出现回落，但震荡幅度比较有限，收盘沪指仍然位于 5 日均线之上，近期表现突出的科创 50 下跌超 1%领跌市场。截止收盘个股和板块表现涨跌互现，下跌 ...

每经AI快讯，中信建投研报表示，物理AI将AI与物理规律融合并应用于实体设备行动中。物理AI相较 传统AI，能够理解真实世界物理规律，能够在数字孪生技术支持下应用真实数据和高保真虚拟环境数 据进行训练与推理，能够依据传感器数据实现动态反馈调整行动策略。物理AI融合了机器学习算法、 数字孪生、CAE求解器等能力，在高端制造、基础科学、能源等广泛领域具备广阔发展前景。海外如英 伟达已形成全面的物理AI布局，旗下Cosmos、Omniverse平台覆盖机器人训练、工程气象等领域。国内 物理AI仍处于初步发展阶段，CAE厂商正探索其在国防、具身智能等领域的应用。基于AI融合的CAE 等工业设计类软件，部分国产厂商已实现在具身智能、国防、低空经济等领域的场景探索，有望在物理 AI产业发展浪潮中充分受益。物理AI解决方案将持续完善，为客户提供高精确度、高效率、低成本的 应用效益，正如英伟达CEO黄仁勋公开表述，物理AI将成为人工智能的下个浪潮。 ...

这是关于AI落地现实世界的一场预判，被英伟达、谷歌等科技巨头押注。物理AI，意味着AI能够理解 物理世界的运行规律：大到自然法则，小到物体在惯性下的运动轨迹。当AI理解这一切并能做出相应 规划，AI的所有能力都能够融入物理世界。 物理AI成为新一代技术主角，背后是传统产业升级与新兴产业发展的现实需求，也是AI从技术炫技走 向应用务实的转折点。AI发展至今，人们已经从技术狂热转向更关注AI解决现实问题和痛点的能力。 尤其是在产业界，技术不是空中楼阁，AI终究要为现实所用，解决产业发展面临的真问题和真需求。 产业界迫切需要AI懂得物理世界的运行规则，懂得产业规律特性——物理AI，承载了这一需求。 锚点既定，通向物理AI面临着技术路径的选择。 例如在能源行业。"能源+AI"更多指向AI作为技术变量，驱动、赋能能源行业转型，升级能源管理系 统；而能够真正理解能源行业复杂性和运作规律，并做出相应的推理、规划、决策执行的AI，才是"能 源AI"——区别于1+1大于2的关系，"能源AI"是一个有机整体，一套完整的垂直AI新范式。 在一定程度上来说，大语言模型并非理想之选。一方面，大语言模型更聚焦本文处理能力，难以驾驭物 理 ...

Core Viewpoint - The A-share market experienced a significant adjustment but did not show signs of panic selling, indicating a gradual increase in market confidence towards an upward trend [1] Market Overview - On Thursday, the A-share index saw a notable decline, with the Shanghai Composite Index dropping over 1% and more than 4200 stocks declining, marking the largest single-day adjustment since April 7 [1] - The trading volume reached 1.93 trillion, which is considered normal, suggesting that there was no panic selling [1] - The index has officially broken through the high point of November 8, 2024, indicating the end of the sideways movement since the fourth quarter of 2024 [1] - Concerns regarding trade conflicts have eased, and with the policy window approaching in July, the market is expected to maintain a slow upward trend amidst fluctuations [1] Future Outlook - There are multiple catalysts in various industries, leading to a more optimistic outlook for the market [2] - After the index surpassed 3500 points, two potential paths are identified: continuing the upward trend to challenge the high of October 8, 2024, or consolidating before attempting to break the 3674 high [2] - Three conditions are necessary for a direct challenge to previous highs: implementation of fiscal stimulus policies, continued global environment easing, and sustained increase in trading volume [2] Sector Highlights - The technology sector is expected to gain momentum in August, driven by various catalysts [3] - The AI conference has introduced new hotspots, indicating potential opportunities in the AI sector [3] - The trend towards domestic robotization is expected to continue, with opportunities arising in related components such as sensors and controllers [3] - The semiconductor industry remains a focus, particularly in domestic equipment, wafer manufacturing, and IC design [3] - The military industry is anticipated to see a rebound in orders by 2025, with signs of recovery in quarterly reports [3] - The innovative drug sector is expected to reach a turning point in fundamentals after a prolonged adjustment period [3] Market Review - Despite the rapid adjustment, the market maintains an upward trend, and the consolidation phase is seen as beneficial for the mid-term outlook [4] - Most sectors experienced declines, with only the computer and communication sectors showing gains, while sectors like steel, non-ferrous metals, and real estate faced significant losses [4]

Core Viewpoint - The article discusses the emergence of "Physical AI" as the next wave in artificial intelligence, particularly in the robotics sector, as highlighted by NVIDIA CEO Jensen Huang during his recent visit to China. This technology aims to enhance robots' capabilities to perceive and interact with the physical world, marking a significant evolution in AI applications [2][11]. Group 1: Physical AI Overview - Physical AI, also known as generative physical AI, empowers autonomous machines to understand and operate within the physical environment, enabling complex operations [2]. - Huang identifies four stages of AI evolution: Perception AI, Generative AI, Agentic AI, and Physical AI, with the latter being the ultimate goal [3][4][5][6]. - NVIDIA's platforms, Cosmos and Omniverse, are integrated to create the first end-to-end Physical AI platform, facilitating training and testing in a virtual environment [8]. Group 2: Market Response and Opportunities - Following Huang's statements, A-share companies related to AI hardware have seen significant stock price increases, indicating strong market interest [2]. - Key companies in the robotics industry, such as Zhiyuan Robotics and Yushu Technology, have recently secured substantial orders and received policy support, further driving the sector's growth [12][17]. - The article lists several A-share companies involved in Physical AI and robotics, highlighting their recent stock performance and business collaborations with NVIDIA [10][14][15]. Group 3: Industry Insights - Huang emphasizes China's advantages in the robotics sector, including strong AI technology, excellent mechatronics capabilities, and a robust manufacturing base [11]. - The article notes that the domestic robotics industry is experiencing a surge in positive developments, including significant orders and technological advancements [12][17]. - A list of A-share companies with expected profit growth in the first half of 2025 is provided, showcasing the financial health and potential of the robotics sector [18].

Market Overview - The market experienced a strong upward trend with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index closing up by 0.37%, 1.43%, and 1.76% respectively, with over 3,500 stocks rising and more than 1,600 stocks declining [4] PCB Sector - The PCB sector saw a significant rebound, with stocks like Guanghe Technology, Mankun Technology, and Dongshan Precision hitting the daily limit, while others like Shenghong Technology and Dingtai High-tech also experienced substantial gains [3] Hongmeng Concept - The Hongmeng concept stocks surged, with stocks such as Yanhua Intelligent and Changshan Beiming hitting the daily limit, and Runhe Software rising over 14% at one point [8][9] - A market rumor suggested that by September 30, 2024, all apps must achieve 100% compatibility with Hongmeng, leading to a mixed market reaction [10][12] Innovative Drugs - The innovative drug sector continued its strong performance, with multiple stocks like Hancheng Group and Weikang Pharmaceutical hitting the daily limit, and others like Meidi West and Shouyao Holdings rising over 10% [28] - The National Healthcare Security Administration announced the initiation of the 11th batch of centralized drug procurement, which is expected to positively impact the sector [28] Physical AI - Nvidia's CEO Huang Renxun announced that the next wave of AI will focus on Physical AI, which aims to enhance AI's ability to understand and interact with the physical world, leading to increased market interest in related stocks [15][16] - Companies like Suochen Technology and Zhiwei Intelligent saw significant stock price increases due to this announcement [17] 360 Company - 360 Company experienced a notable rise in stock price following rumors that the Firefox browser may terminate services for Chinese users, potentially allowing 360 to capture market share [22][24]

"物理AI"进入我们的视野时间不久，但它的进展似乎比预想中的要快，可以说目前英伟达对物理AI的"大胆押注"已经初具规模。 我们都知道在2025年人工智能正在突破虚拟世界的边界，进入物理世界的深水区。 而英伟达正以一种极具野心的方式，推动这一进程：打造"物理AI"的平台级基础设施，重构从训练、仿真到部署的全链条。 从最初的概念提出，到如今的产业联动，英伟达的"物理AI"战略已开始具备现实可验证的轮廓。一批全球领先的工业巨头——西门子、宝马、富士康、施 耐德、欧姆龙、SAP、通用汽车等——正在与英伟达合作，将AI引入制造、仓储、自动驾驶、机器人等复杂的物理系统中。 今天这篇文章并不想仅仅围绕英伟达的物理AI展开，而是将探讨以下几个关键问题： 在AI从对话模型跨越到具身智能体的转折点上，我们需要的不只是技术的狂热，更需要系统性的战略判断与历史性的冷静思考。 物理AI、具身智能与空间智能：AI通向真实世界的路径分叉口 在英伟达相对激进而系统的推进之下，"物理AI"这一术语开始频繁出现在技术媒体、产业报告中。但这并不是一场概念的"独角戏"，而是与近年来AI学界 与工业界持续探索的两个关键方向，具身智能与空间智能，形成了 ...

Core Viewpoint - Physical AI is the next generation of AI that can understand physical rules and generate vast training datasets, with potential applications in intelligent driving, robotics, and military sectors [1][2][8] Summary by Sections Definition of Physical AI - Physical AI is defined as the ability to understand and comply with various physical laws, enabling dynamic interaction and autonomous operation between virtual and real worlds [2] - It can accelerate CAE simulation, support digital twins, and synthesize physically compliant scene data for training models in humanoid robots, autonomous driving, and military applications [2] NVIDIA's End-to-End Physical AI Practice - NVIDIA's Omniverse serves as the next-generation "soft core," evolving into a comprehensive physical simulation platform by integrating the PhysX5 physics engine and the Cosmos simulation engine [3] - This platform provides end-to-end support for industrial applications, allowing developers to train models, create virtual environments, and deploy applications [3] - NVIDIA announced collaborations with General Motors for future autonomous vehicle fleets and released the open-source humanoid robot model Groot N1 [3] Military Simulation and Domestic Developments - Physical AI is accelerating the intelligentization of military simulations, with applications across the entire lifecycle of military operations [4] - Domestic company Suochen Technology has launched the "Tiangong·Kaiwu" physical AI platform, mirroring NVIDIA's approach and offering comprehensive solutions for various industries [5] Military AI Market Outlook - China's defense budget for 2025 is approximately 1,784.7 billion yuan, with a consistent annual growth rate of around 7.1% to 7.2% from 2022 to 2024 [6] - The military AI sector is expected to experience structural reversals as the country enhances its military informationization and AI capabilities [6] Investment Strategy - Investment opportunities are identified in companies with algorithm advantages and engineering experience in the simulation field, as well as those with core data resources and application experience in military AI [8]