Group 1 - The CEO of Nvidia, Jensen Huang, expressed that he feels a constant sense of crisis and pressure, stating that he has felt this way for 33 years, indicating the high-stakes environment of the tech industry [2] - Huang mentioned his long-standing collaboration with Lei Jun of Xiaomi, highlighting their joint efforts in developing AI and autonomous driving software [2] - Regarding Huawei, Huang acknowledged the company's significant innovation, scale, and capabilities, suggesting that Huawei is a formidable competitor in the AI market [2][3] Group 2 - Huang views Huawei as both a competitor and a respected peer, emphasizing the importance of maintaining a good relationship with competitors in a large and diverse market [3]

Core Viewpoint - The market experienced a significant bullish trend, with over 4,000 companies rising, largely influenced by the news of NVIDIA's CEO Huang Renxun's interview on CCTV, which highlighted collaborations with Xiaomi [1][3][6]. Market Performance - On July 21, the market showed strong performance, with the Shanghai Composite Index rising by 0.72%, the Shenzhen Component Index by 0.86%, and the ChiNext Index by 0.87%, all reaching new highs for the year [7]. - A total of 4,005 stocks increased in value, with 129 stocks hitting the daily limit up, while 1,291 stocks declined [8][9]. Key Stock Movements - The construction and infrastructure sectors saw a collective surge, particularly following the announcement of the Yarlung Tsangpo River hydropower project, which has a total investment of approximately 1.2 trillion yuan and a planned capacity of 70 to 81 million kilowatts [9]. - Notable stocks that surged included China Power Construction and China Energy Construction, both of which hit the daily limit up [9]. Specific Stock Highlights - Several stocks in the construction and engineering sectors showed significant gains, with companies like Wuxin Tunnel Equipment and Jikang Technology seeing increases of 29.99% and 66.62%, respectively [10]. - In the medical sector, stocks such as Asia-Pacific Pharmaceutical and Aonlikang also reached their daily limit up, reflecting strong investor interest [12][13]. Conclusion - The overall market sentiment is bullish, driven by significant news events and sector-specific developments, particularly in technology and infrastructure, indicating potential investment opportunities in these areas [1][3][9].

Group 1 - Xiaomi Group (01810.HK) experienced a short-term surge of over 1% [1] - NVIDIA CEO Jensen Huang stated that the company is collaborating with Xiaomi to develop artificial intelligence and autonomous driving software [1]

Core Viewpoint - Nvidia's CEO Jensen Huang expresses a constant fear of bankruptcy, indicating the high-pressure environment in which the company operates and the rapid pace of technological change in the industry [1][2]. Group 1: Company Transformation and Challenges - Nvidia has transitioned from a gaming graphics card company to a leader in AI infrastructure, having faced near bankruptcy twice during this transformation [2]. - Huang emphasizes the relentless pressure he feels, stating that he has been under stress every minute for the past 33 years, highlighting the weight of responsibility he carries for the company, clients, and market [3][4]. Group 2: Recent Developments and Market Position - Nvidia's market capitalization surpassed $4 trillion on July 9, making it the first company to reach this milestone [7]. - The U.S. government has approved the sale of H20 chips to China, which could impact Nvidia's market strategy and growth [7]. Group 3: Stock Transactions and Financial Insights - Huang has been actively selling Nvidia shares, having sold a total of 135,000 shares since June 20, resulting in approximately $215 million in cash [10][12]. - The stock sales are part of a pre-established 10b5-1 plan, which allows insiders to sell shares transparently and avoid insider trading allegations [11]. - Huang's net worth has significantly increased due to Nvidia's soaring market value, ranking him as the 9th richest person globally with a net worth of $150 billion [12].

Core Insights - The CEO of Nvidia, Jensen Huang, expressed ongoing pressure and a sense of impending crisis despite the company's achievements, highlighting the constant challenges faced in the tech industry [3][5] - Huang emphasized the collaborative relationship with Huawei, acknowledging its innovation and scale, while also recognizing it as a competitor [5][6] - The Chinese AI market is described as unique and vibrant, with a large pool of talented engineers and consumers, making it essential for technology suppliers to engage with this market [6] Group 1 - Nvidia's CEO feels a continuous sense of pressure and crisis, indicating the high-stakes environment of the tech industry [3] - Huang has a long-standing collaborative relationship with Lei Jun of Xiaomi, working on various projects including AI and autonomous driving [3][5] - Huang respects Huawei's capabilities, viewing it as both a competitor and a partner, and believes that Huawei would succeed in the AI market regardless of Nvidia's presence [5] Group 2 - Huang describes China as a unique market with exceptional innovation and a large consumer base, emphasizing the importance of engaging with this market for technology suppliers [6] - The competition between Nvidia and Huawei is acknowledged, with Huang expressing admiration and respect for Huawei's strengths [5][6] - The potential consequences of not participating in the Chinese market are noted as unpredictable but likely unfavorable [6]

Group 1 - The core viewpoint of the article highlights the long-standing collaboration between NVIDIA CEO Jensen Huang and Xiaomi CEO Lei Jun, emphasizing their joint efforts in various technology sectors [1] - Huang mentioned that their partnership dates back to the founding of Xiaomi, indicating a deep-rooted relationship in the tech industry [1] - Current collaborative projects include the development of artificial intelligence and autonomous driving software, showcasing a focus on cutting-edge technology [1]

Group 1 - HSBC Research initiates a "Buy" rating for Horizon Robotics with a target price of HKD 10.2 [1] - Horizon Robotics currently serves over 40 automotive manufacturers, including BYD, Geely, and Li Auto, with more than 310 vehicle models [1] - The company is expected to achieve a compound annual growth rate (CAGR) of 64% in revenue from 2025 to 2027 and is projected to turn profitable by 2028 [1] Group 2 - Despite NVIDIA's dominance in the high-end automotive market, Horizon Robotics' lower chip prices are anticipated to enhance its market share in China, increasing from approximately 15% in 2024 to about 25% by 2027 [1] - The current trade tensions are believed to provide Horizon Robotics with higher supply chain security [1]

Core Viewpoint - Japanese automakers are forming alliances to develop AI and autonomous driving technologies, supported by government subsidies and policies aimed at strengthening the domestic supply chain [2][3][4]. Group 1: Government Support and Policy Direction - The Japanese government has been promoting the development of "software-defined vehicles" (SDV) and emphasizes AI-driven automotive software [3]. - Recent revisions to the "Mobility DX Strategy" include support for AI autonomous driving, focusing on AI infrastructure, talent development, and safety standards [3][4]. Group 2: Industry Collaboration - Japanese automakers are collaborating to enhance the domestic supply chain and reduce reliance on foreign technologies, particularly in critical areas like autonomous driving chips and high-precision mapping [5][6]. - The collaboration aims to share R&D resources, reduce costs, and improve efficiency by leveraging each company's strengths in sensor technology, algorithm optimization, and other areas [6][7]. Group 3: Positive Impacts of Alliances - The formation of alliances is expected to lead to significant advancements in infrastructure, such as advanced computing platforms and data centers, to meet the growing computational demands of autonomous driving systems [7]. - The collaboration will also facilitate talent development by integrating training resources and partnering with educational institutions to create specialized programs in automotive engineering and AI [7]. Group 4: Competitive Landscape - The emergence of a Japanese automaker alliance in AI and autonomous driving is likely to intensify global competition, potentially prompting European and American companies to accelerate their own R&D efforts [8]. - This shift may influence the traditional model of independent R&D among automakers, leading to more cross-industry collaborations involving parts suppliers and technology firms [8].

Core Insights - The automotive industry is transitioning towards more advanced autonomous driving technologies, moving beyond the simplistic "end-to-end" models that have been prevalent [2][3][25] - Companies are exploring new architectures and models, such as VLA and world models, to address the limitations of current systems and enhance safety and reliability in autonomous driving [4][14][25] Group 1: Industry Trends - Major players like Huawei, Li Auto, and Xpeng are developing unique software architectures to improve autonomous driving capabilities, indicating a shift towards more complex systems [4][5][14] - The introduction of new terminologies and models reflects a diversification in approaches to autonomous driving, with no clear standard emerging [4][25] - The industry is witnessing a split in technological pathways, with some companies focusing on L3 capabilities while others remain at L2, leading to a potential widening of the technology gap [25][26] Group 2: Data Challenges - The demand for high-quality data is critical for training large models in the new phase of autonomous driving, but companies face challenges in acquiring and annotating sufficient real-world data [15][22] - Companies are increasingly turning to simulation and AI-generated data to overcome data scarcity, with some suggesting that simulated data may become more important than real-world data in the future [22][23] Group 3: Competitive Landscape - The competition is intensifying as companies with self-developed capabilities advance towards more complex technologies, while others may rely on suppliers, leading to a concentration of orders among a few capable suppliers [26][27] - The shift towards L3 capabilities will require companies to focus not only on technology but also on operational aspects, as the responsibility for safety and maintenance will shift from users to manufacturers [25][26]

晚点Auto . 从制造到创造，从不可能到可能。《晚点LatePost》旗下汽车品牌。 "最难的选择是不改变最初的选择。" 以下文章来源于晚点Auto ，作者晚点团队 文丨程曼祺 编辑丨黄俊杰 宋玮 到 2024 年上半年结束，中国的道路上有接近 10 万辆车使用 Momenta 的自动驾驶软件。在设置好目的地后，这些车在高速路和大部分城区路段都可以自行换 道、超车、过路口，避让电动车和行人；它们来自上汽、比亚迪、广汽……都装着英伟达的自动驾驶芯片。 接下来，还有包括通用、丰田、奔驰在内的十多个品牌的数十款车型也会搭载 Momenta 的软件，这让它成为目前拿到最多高阶智能驾驶订单的公司。已交付 过类似高阶方案的供应商现在只有华为和 Momenta，自研智驾的车企中，则只有蔚小理。 不久前有报道称，Momenta 正计划赴美上市，如成功，它会成为中国自动驾驶第一股。 Momenta 曾经历起落：2018 年，它成为中国第一个自动驾驶独角兽；但在 2019-2020 年的中国自动驾驶融资黄金时期，小马智行、文远知行等公司连续融 资，Momenta 却没有发布任何融资进展，它的研发总监还离职去了蔚来。 进入 20 ...