今日上市新股表现 | 代码 | 简称 | 最新价（元） | 收盘涨跌幅（%） | 首日换手率（%） | | --- | --- | --- | --- | --- | | 688802 | N沐曦-U | 829.90 | 692.95 | 84.72 | （文章来源：证券时报网） N沐曦-U(688802)今日上市，开盘上涨568.83%，截至收盘涨幅扩大至692.95%，全天成交量1536.70万 股，成交额112.59亿元，换手率84.72%。 公司主营业务为研发、设计和销售应用于人工智能训练和推理、通用计算与图形渲染领域的全栈GPU产 品，并围绕GPU芯片提供配套的软件栈与计算平台。 统计显示，公司本次发行总量为4010.00万股，其中，网上发行量为966.55万股，发行价格为104.66元/ 股，网上发行最终中签率为0.03348913%。公司首发募资金额为41.97亿元，募资主要投向新型高性能通 用GPU研发及产业化项目、新型高性能通用GPU研发及产业化项目-第三代高性能通用 GPU、面向前沿 领域及新兴应用场景的高性能GPU技术研发项目、新型高性能通用GPU研发及产业化项目-第二代高性 能通用 ...

在"2025地平线技术生态大会"上，地平线创始人兼CEO余凯博士引用自然生态定义，诠释地平线的生态信仰，分享从CPU到NPU的计算平台演进历程，展望 智能汽车与通用AI机器人的未来。他强调：技术生态需要协同共生，生态对技术的进步起着关键作用。生态是地平线骨子里的信仰，是让每个用户的出行 和生活更安全、更美好。地平线作为"不造车的特斯拉"，旨在为未来无处不在的机器人提供计算平台，通过开放平台推动科技文明进步。 ...

Core Insights - The report highlights a shift in capital expenditure by telecom operators towards computing infrastructure, driven by a reduction in traditional telecom network spending and an increasing demand for AI capabilities [3][4]. Capital Expenditure Trends - In 2024 and the first half of 2025, capital expenditure by Chinese telecom operators is expected to decline, primarily due to reduced spending on traditional telecom networks like 5G. However, there is a notable increase in investments in AI and computing infrastructure to meet growing market demands [4][8]. - Goldman Sachs projects that despite a further decrease in telecom network spending in 2025, the growth in capital expenditure related to intelligent computing capabilities will partially offset this decline, leading to an overall decrease in annual capital expenditure [8]. Specific Operator Projections - China Telecom is expected to have a capital expenditure of 84 billion RMB in 2025, down from 94 billion RMB in 2024, with an increase in investments related to computing platforms [8]. - China Unicom's capital expenditure is projected to be 55 billion RMB in 2025, down from 61 billion RMB in 2024, primarily due to reduced 5G-related capital expenditure, but with a simultaneous increase in AI infrastructure investments [8]. Competitive Advantage - Telecom operators possess their own Internet Data Center (IDC) resources, which reduces reliance on external IDC suppliers and helps lower overall operational costs [7].