Investment Rating - The report maintains a "Recommended" rating for the industry [4] Core Insights - The demand for Tokens is rapidly increasing, leading to a price increase trend that is expected to extend from upstream components to CPUs and cloud services. AWS has initiated price hikes, breaking the long-standing trend of decreasing cloud service prices, which may lead to a revaluation of cloud computing and related service providers [11][14][30] - The AI industry chain is experiencing inflation transmission, with cloud computing potentially being the next area to see price increases following storage and CPU [14] - The CPU sector is expected to have long-term growth prospects due to the increasing demand for AI computing power, with Intel indicating that supply constraints will persist into 2026 [16][23] - The database segment is also poised to benefit from the rising demand for cloud computing, with the potential for significant revenue growth as the number of database PCU nodes increases [26][29] Summary by Sections 1. AWS Price Increase Initiates Global Cloud Computing Price Trend - The AI industry chain is experiencing a price increase trend, with AWS leading the charge by raising prices for its EC2 machine learning capacity blocks by approximately 15% [14] - This price adjustment reflects a shift in supply-demand dynamics and may facilitate further price increases in the future [14] 1.1 Cloud Computing as the Next Inflation Direction - The demand for AI is driving price increases across various segments, with cloud computing expected to follow suit [14] 1.2 CPU: Long-term Development Prospects Under AI Agent Trend - Intel is facing supply constraints that may continue into 2026, with demand for CPUs expected to exceed supply [16] - The importance of CPUs is increasing as AI applications evolve, necessitating more robust processing capabilities [20][23] 1.3 Database: Another Key Beneficiary of Cloud Computing Industry Chain - The growth in demand for AI-driven applications is expected to increase the number of database PCU nodes, leading to significant revenue potential [26][29] 1.4 Investment Recommendations - The report suggests focusing on companies in the following sectors: 1) Cloud Computing: Alibaba, Kingsoft Cloud, UCloud, Deepin Technology, and others 2) CPU: Haiguang Information, China Great Wall, Loongson Technology, and others 3) Database: StarRing Technology, Dameng Database, and others [30]

2026阿里云PolarDB开发者大会日前在沪举办。会上，阿里云旗下云原生数据库PolarDB正式发布AI数 据湖库(Lakebase)等系列全新产品能力，让数据系统不仅能存储、查询多模态数据，还将直接驱动AI智 能决策，推动数据库实现从"外挂式"集成AI到"内生智能"进化。 阿里云PolarDB首次阐释了"AI就绪数据库"四大核心支柱，包括多模态AI数据湖库、高效融合搜索能 力、模型算子化服务以及面向Agent应用开发的后端服务。阿里云资深副总裁、数据库产品事业部负责 人李飞飞表示："AI原生数据库是技术演进的必然方向。PolarDB作为'智能数据引擎'，将持续深化AI与 数据库的融合创新，与用户携手走向超级人工智能时代。"(经济日报记者唐一路) ...

Important Market News - The People's Bank of China will continue to implement a moderately loose monetary policy in 2026, focusing on promoting stable economic growth and reasonable price recovery [1] - U.S. stock indices closed higher, with the Dow up 0.63%, Nasdaq up 0.91%, and S&P 500 up 0.55%. Tech stocks saw significant gains, with Meta rising 5.7% [2] - International oil prices fell sharply, with WTI crude down 1.95% to $59.44 per barrel and Brent crude down 1.74% to $63.41 per barrel. Gold and silver prices reached new historical highs, with spot gold hitting $4928 [3] Industry Insights - Beijing ChuanYueZhe Manned Space Technology Co., Ltd. held a global launch for its commercial manned spacecraft "ChuanYueZhe No. 1 (CYZ1)", with over 20 space tourists already booked for flights expected to commence in 2028. The space economy is projected to become a new industry sector, with satellite communication expected to exceed 200 billion to 400 billion yuan by 2030 [4] - Alibaba Cloud launched new products at the 2026 PolarDB Developer Conference, including AI data lake capabilities. The rising memory prices, which have increased by 30% to 40%, are expected to continue to rise by two to three times, benefiting the storage industry [5] - The year 2025 is anticipated to be the "mass production year" for humanoid robots, with significant delivery volumes expected. Companies like Yuzhu Technology project over 5,500 humanoid robots to be delivered in 2025, indicating a shift from technology exploration to commercial application [6]

1月20日，在2026阿里云PolarDB开发者大会上，阿里云旗下云原生数据库PolarDB正式发布AI数据湖库（Lakebase）等系列全新产品能力，将大模型能力内 化为数据库的"血液"。 从硬件层面来看，内存价格近已攀升30%到40%。阿里云资深副总裁、数据库产品事业部负责人李飞飞表示，AI原生数据库是技术演进的必然方向， 内存价 格后续大概率还会迎来两至三倍的涨幅。在这一趋势下，必须要加速推进数据库AI化转型。"大模型脱离热数据便易产生幻觉，无法应对实时场景需求，而 模型算子化正是打通热数据与模型推理的关键，能实现热数据到Token的实时转化。" 未来，TOKEN可能要涨100倍甚至1000倍，要依托各种agentic AI才能做到场景化使用，从而释放其价值。目前，阿里云PolarDB已部署规模超300万核，覆 盖全球86个可用区。 （文章来源：21世纪经济报道） 在此背景下，数据系统不仅能存储、查询多模态数据，还将直接驱动AI智能决策。这也使得大模型的识别能力进一步进化。 ...

作者 | 柴旭晨 编辑 | 张晓玲 面对如今科技圈言必称"AINative"的热潮，阿里云资深副总裁、数据库产品事业部负责人李飞飞却显得颇为冷静，甚至主动给这股热潮"降了降温"。 阿里云数据库产品技术架构部负责人王远在1月20日向华尔街见闻直言，现在很多厂商喊出的"AI原生"口号其实有些"大跃进"了。相比于急着贴上"原生"的 标签，阿里云PolarDB选择了一个更务实的目标——先做到"AI Ready（AI就绪）"。 为了让大家听懂什么是"AI就绪"，李飞飞用了一个直观的"4+1"公式。 想象一下，以前的数据库像是一个整齐划一的档案柜，只存文字和表格。但AI时代的数据五花八门，有图片、有视频、有日志。所以，"AI就绪"的第一步就 是让数据库变成一个"大湖"，既能存表格，也能存这些杂乱的数据，这叫做"Lakebase（湖库一体）"。紧接着，数据库得学会像图书管理员一样，通过统一 的元数据管理，把这些海量且碎片化的信息梳理清楚。 更有趣的改变在于让数据库"长出脑子"。 李飞飞解释说，大模型虽然聪明，但它学到的都是过去的数据。如果你问它"今天PolarDB大会来了多少人"，它肯定答不上来，因为它不知道此时此刻正在 ...

港股晨报 港股回顾 点，跌幅随即扩大至 247 点，低见 23730 点，其后跌幅 一度收窄至仅 20 点，午后大盘走势偏软，尾盘沽压再 度扩大。截至收盘，恒指收报 23831 点，下跌 145 点或 0.61%；国指收报 9656 点，下跌 47 点或 0.49%，大市 成交进一步减至 827.99 亿。港股通录得净流入资金 4.84 亿，其中港股通(沪)净流入 2.83 亿，港股通(深)净 流入 2.01 亿。板块方面，本地地产、软件、5G 概念板 块跌幅靠前；黄金股逆市走强。 周二港股延续调整态势，恒生指数收盘跌 0.29% 报 26487.51 点，恒生科技指数跌 1.16%，恒生中 国企业指数跌 0.43%。科技股领跌，中芯国际、 舜宇光学科技跌超 3%，医药股持续低迷，恒瑞医 药、药明康德跌超 4%；地产股逆势走强。泡泡玛 特大涨 9%领涨蓝筹。大市全日成交额 2377.7 亿 港元。恒生指数成分股中 44 只上涨，41 只下 跌，其中药明康德跌 4.13%，比亚迪股份跌 3.67%，舜宇光学科技跌 3.25%。 美股市场 1. 美股周二复市后大跌，美国总统特朗普再加强威 胁以夺取格陵兰，并扬言向 ...

Group 1 - Zhipu officially released and open-sourced the GLM-4.7-Flash model [1] - Musk's X platform has open-sourced its recommendation algorithm, now accessible on GitHub [1] - Alibaba Cloud held the PolarDB developer conference, launching the AI data lake and several new products [1] Group 2 - Step3-VL-10B, a 10 billion parameter visual language SOTA model, has been open-sourced by Jietu Star [1] - UCloud has open-sourced the OrderWise, a smart delivery price comparison agent [1] - Ant Group upgraded its PC version of Afu, launching the DeepSearch feature aimed at doctors [1] Group 3 - DingTalk version 8.2.5 introduced new AI travel features [1] - Muxi Co. established a joint research center for food safety and artificial intelligence with Jiangnan University [1] - Japan's Finance Minister, Shunichi Suzuki, announced plans to invest over $330 billion in artificial intelligence and chip sectors [1] - Microsoft CEO Satya Nadella stated that artificial intelligence represents a platform-level transformation comparable to the internet, mobile technology, and cloud computing [1]

Core Insights - Alibaba Cloud's PolarDB has officially launched a series of new AI capabilities, including the AI Data Lake (Lakebase), which integrates large model capabilities into the database, enabling intelligent decision-making through multi-modal data storage and querying [2][4]. Group 1: AI Capabilities - The new AI capabilities of PolarDB include the AI Data Lake (Lakebase), model operator services, and managed capabilities for Agent application development, significantly reducing the complexity of building AI applications [4][5]. - The AI Data Lake (Lakebase) solution is designed for a "lake-warehouse integration" architecture, providing unified storage and efficient analysis, thus supporting the construction of intelligent data management platforms for enterprises [4]. Group 2: Core Pillars of AI-Ready Database - PolarDB has outlined four core pillars of the "AI-ready database": multi-modal AI data lake, efficient fusion search capabilities, model operator services, and backend services for Agent application development, which together form the foundation for a more intelligent, efficient, and secure AI data infrastructure [5]. - PolarDB has gained the trust of over 20,000 users globally, with a deployment scale exceeding 3 million cores across 86 available zones, serving key business systems in various sectors including finance, automotive, government, internet, and telecommunications [5].

人民财讯1月20日电，据阿里云消息，今天，在2026阿里云PolarDB开发者大会上，阿里云旗下云原生数 据库PolarDB正式发布AI数据湖库(Lakebase)等系列全新产品能力。作为PolarDB的核心组件，PolarDB AI数据湖库解决方案专为实现"湖库一体"架构而设计，通过统一存储与高效分析能力，无缝融合数据湖 的灵活性与数据仓库的高性能，为企业构建智能数据管理平台提供核心支撑。 ...

（来源：智通财经） 《科创板日报》20日讯，2026阿里云PolarDB开发者大会今日召开，阿里云旗下云原生数据库PolarDB正 式发布系列全新产品能力，包括AI数据湖库（Lakebase）、模型算子化以及面向Agent应用开发的托管 能力等。与此同时，阿里云PolarDB首次阐释了"AI就绪数据库"的四大核心支柱，包括多模态AI数据湖 库、高效融合搜索能力、模型算子化服务以及面向Agent应用开发的后端服务。目前，阿里云PolarDB海 内外用户规模已超2万，部署规模超300万核，覆盖全球86个可用区。（记者 李佳怡） 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ ...