将投中网设为"星标⭐"，第一时间收获最新推送 一位做 FA 的朋友跟我抱怨，趁着这波 AI 势头而起的 FA 干的都是最基础的事儿，拉群，列出一水的美元基金名单，基本不 需要提供太深度的服务，然而他眼见着有的人已经把微信昵称换成了"每天 5 个 TS "。 说起来，这跟前些年产业投资风靡，强调精品 FA 的路数很不一样。背后的原因是， AI 相关赛道，还是有大厂光环的人好融 资。 FA 的策略变得更直接，就是盯大厂出来的人。 FA重点盯的人，就是资本的流向。 作者丨 刘燕秋 来源丨 投中网 都知道 AI 硬件热，热到什么程度呢？我听说，有的 FA 已经把办公室搬到大疆旁边了。也不止 FA ，在大疆所在的深圳留仙 洞总部基地片区，高瓴、李泽湘发起的深圳科创学院孵化基金等机构也坐落于此。 FA 重点盯的人，就是资本的流向。不成文的规则是软件盯字节，硬件盯大疆。 FA 甚至把办公室设在大疆边上，动员大家结 识大疆的员工，盯紧人员的最新动态。也有 FA 给员工定下 KPI ，一周至少要见一到两个字节和大疆的管理层。 当然了，如果仔细捋一捋最近披露的融资情况，会发现大疆只是源头之一，追觅、小米以及其他硬件厂商或在互联网 ...

1.【 波音据悉计划最快10月将737 Max产量提高至每月42架 】 10月6日消息，据报道，波音向供 应商发出指引，表示737 Max机型的月产量最快可能在10月提升至42架。波音还在为4月和2026年 底再次提高生产速度做准备。若计划顺利执行，产量到明年年底可能提升至每月约53架。部分知情 人士提醒称，波音的内部规划主要是为供应商安排设备和资源，不代表最终决定。（财联社） 2.【消息称 OpenAI与前苹果首席设计师Jony Ive合作开发AI设备遇技术挑战：算力不足、正解决对 话自然性】 据《金融时报》报道，OpenAI与前苹果首席设计师Jony Ive合作开发的全新硬件产品目 前面临多项技术挑战。 扫码可订阅产业日报 欢迎加入 睿兽分析会员 ，解锁 AI、汽车、智能制造 等相关 行业日报、图谱和报告 等。 50 Ft 国家高新 小时一手资讯 技术企业 CB F+ 生 创投人物 投融资及收并购事件 热门产业 ( 创新机会 # E 2万+LP数据 全生命周期 10万+基金数据 独角兽企业 各维度权威榜单 1万+专精特新小巨人 1400 a Re 十子标签 产业图谱 行业示给 % % % Ai新路径 · ...

据见闻此前文章，OpenAI已与国内消费电子制造巨头立讯精密达成硬件制造协议，计划在2026年末或 2027年初推出首款AI设备产品。 OpenAI首席执行官Sam Altman与前苹果首席设计师、"iPhone之父"Jony Ive正试图打造一款"重塑人机交 互"的人工智能设备，但这一雄心勃勃的计划目前正陷入多重瓶颈。 10月5日，英国《金融时报》援引知情人士报道称，这款"无屏AI设备"原计划在明年推出，但由于算力 短缺、软件瓶颈以及"AI性格"难以界定，项目进展受阻。 一位接近Ive的人士表示："计算能力是造成延迟的另一个重要因素。亚马逊拥有Alexa所需的计算能 力，谷歌也有（用于其Home设备），但OpenAI连ChatGPT的计算能力都捉襟见肘，更别说AI设备了 ——他们需要先解决这个问题。" 硬件规格初现雏形 今年5月，OpenAI以65亿美元收购了Ive创立的设计公司LoveFrom的子公司io，标志着这位AI先锋与设 计大师的正式联手。 据悉，两人希望打造一款掌上大小、无屏幕、能通过摄像头和麦克风感知世界、并以自然语言与人交流 的设备——某种"下一代AI伴侣"。 这款设备据称将"始终在线"，能 ...

Market Overview - The market continues to experience fluctuations after a rapid rise, entering a consolidation phase [3] - Major indices: Shanghai Composite Index at 3828.1 points, up 0.21%; Shenzhen Component Index at 13209.0 points, up 1.06%; ChiNext Index at 3151.5 points, up 1.96% [3] Sector Performance Power Equipment - The power equipment sector increased by 3.86%, driven by breakthroughs in new technologies and a reversal in the industry cycle [3] - Solid-state batteries represent a new growth phase, with industrialization accelerating and leading to strong mid-year performance from leading lithium battery equipment companies [3] Nonferrous Metals - The nonferrous metals sector rose by 3.52%, supported by the Federal Reserve's decision to lower interest rates by 25 basis points, providing upward momentum for metal prices [3] - A recent call between the US and Chinese leaders has also helped boost market risk appetite [3] Electronics - The electronics sector saw a 3.51% increase, with OpenAI partnering with Chinese consumer electronics leader Luxshare Precision to develop a revolutionary AI device [4] - The Meta Connect conference introduced new AI glasses, and Apple launched a full line of upgraded products, indicating a recovery in consumer electronics demand [4] Macroeconomic Context - The People's Bank of China (PBOC) continues to implement a moderately loose monetary policy, with the 1-year Loan Prime Rate (LPR) at 3% and the 5-year LPR at 3.5%, unchanged for four consecutive months [4] - The PBOC announced a 600 billion yuan MLF operation on September 25, with a net injection of 300 billion yuan for the month, marking the seventh consecutive month of increased operations [4] International Developments - Federal Reserve Chairman Jerome Powell indicated that stock prices appear overvalued, without hinting at potential rate cuts in October [5] - The US has confirmed a 15% tariff on EU imported cars and automotive products starting August 1, following a trade agreement [5] - The US current account deficit significantly decreased by $188.5 billion in Q2, reaching its lowest level since Q3 2023 at $251.3 billion [5] Focus Areas - Key sectors to watch include AI and technology, domestic demand-related sectors, and "anti-involution" related sectors [6] Follow-Up Areas - Continued monitoring of real estate, fiscal, consumption data, and price index data, as well as overseas economic data and changes in US-China tariff policies [7]

Investment Rating - The report maintains an "Overweight" rating for the mechanical equipment industry, with a focus on AI equipment and oil service equipment [1]. Core Insights - The rapid development of AI chips is expected to drive demand for advanced testing and packaging equipment, particularly in the semiconductor sector [2][20]. - The PCB equipment market is set to benefit from significant investments in AI infrastructure, with major players expanding their production capacities [3][44]. - The oil service equipment sector is poised for growth due to Saudi Aramco's plans to initiate 85 major projects over the next three years, which will create substantial demand for related products and services [9]. Summary by Sections Semiconductor Equipment - The demand for high-performance testing machines is increasing due to the complexity of AI chips and advanced storage chips, which require enhanced testing capabilities [2][21]. - The advanced packaging technology CoWoS is crucial for GPU and HBM interconnects, leading to a surge in demand for advanced packaging equipment [2][22]. - The semiconductor testing equipment market is projected to exceed $13.8 billion by 2025, with significant contributions from SoC and storage testing machines [21]. PCB Equipment - The AI infrastructure investment by Alibaba is expected to significantly boost the PCB market, with leading companies expanding their high-end HDI production capacities [3][4]. - The report highlights the increasing complexity and investment inflation in PCB production processes, particularly in drilling and exposure stages [4][44]. - Major PCB manufacturers are actively expanding their capacities to meet the rising demand for high-performance PCBs driven by AI servers [44][46]. Oil Service Equipment - Saudi Aramco's upcoming projects will require extensive procurement of materials and equipment, benefiting companies with technological advantages in the oil service sector [9]. - Companies like Neway and Jereh are well-positioned to capitalize on the growing demand for oil service equipment due to their established relationships and capabilities [9]. Carbon Silicon - The report emphasizes the potential of single crystal silicon carbide (SiC) in enhancing the performance of CoWoS structures, which is critical for high-power GPU applications [5]. - The successful launch of a 12-inch SiC substrate processing line by Jing Sheng marks a significant advancement in domestic SiC technology [5]. Investment Recommendations - The report suggests focusing on companies such as Huafeng Measurement and Changchuan Technology for testing equipment, and Jing Sheng for packaging equipment, as they are expected to benefit from the growth in AI chip production [2][22]. - In the PCB sector, companies like Dazhu CNC and East China Electric are recommended for their strong market positions and growth potential [43][46].

Market Overview - A-shares rose on Monday, with the Shanghai Composite Index up 0.22% to 3,828.58 points, and the Shenzhen Component Index up 0.67% to 13,157.97 points[16] - The Hang Seng Index fell 0.76% to 26,344 points, with major tech stocks underperforming[11] - US stocks continued to hit new highs, with the Dow Jones up 0.14% to 46,381.5 points and the Nasdaq up 0.7% to 22,789 points[9] Monetary Policy and Economic Indicators - The Federal Reserve is expected to restart its rate-cutting cycle, which historically benefits emerging markets[6] - The international gold price reached a new historical high, driven by expectations of Fed rate cuts and inflows into gold ETFs, with gold futures up 1.9% to $3,744.8 per ounce[27] - US Treasury yields rose slightly, with the 10-year yield at 4.15%, reflecting a cautious outlook on further rate cuts[29] Sector Performance - In the A-share market, technology stocks led the gains, with the STAR Market Index up 3.38%[16] - The healthcare sector in Hong Kong showed resilience, with a 1.5% increase, while industrials and consumer staples faced declines[12] - In the US, the information technology sector outperformed, rising 1.74%, driven by strong performances from Apple and Nvidia[9] Regional Market Trends - Asian markets showed mixed results, with Taiwan's index up 1.2% and Japan's Nikkei 225 up 1.0%[21] - The Korean KOSPI index rose 0.7%, supported by strong bank stock performance, which is up 49% year-to-date[23] - The Indian market declined by 0.5%, reflecting cautious sentiment amid ongoing trade negotiations with the US[21] Key Corporate Developments - Oracle's reliance on OpenAI for over 70% of its orders raises concerns about its revenue stability, with projected IaaS revenues for 2026-2030 reaching $144 billion[9] - Nvidia announced a $100 billion investment in OpenAI, boosting market enthusiasm for tech stocks[9] - Berkshire Hathaway continued to increase its stake in Japan's five major trading companies, indicating confidence in the Japanese market[6]

Group 1 - The AI sector is experiencing strong growth, with the 5G Communication ETF (515050) rising over 2% as of September 23, driven by significant investments and strategic partnerships in the industry [1] - Nvidia plans to invest up to $100 billion in OpenAI, which will utilize Nvidia's systems to create and deploy AI data centers with at least 10 GW capacity, using millions of GPUs for training next-generation AI models [1] - OpenAI is collaborating with leading Chinese tech companies, including a strategic partnership with Luxshare Precision to develop a revolutionary AI device aimed at consumers, currently in the prototype stage [1] Group 2 - The Chinese overseas computing power industry is transitioning from "performance realization" to a "expectation amplification" phase, with local companies meeting the demands of global cloud giants for high-speed optical modules and switching equipment [2] - Key players in the optical module sector are reporting significant growth, with New East Wisdom's revenue increasing by 282.64% and net profit by 355.68% in the first half of 2025, while Zhongji Xuchuang's revenue and net profit grew by 36.95% and 76.26%, respectively [2] - Chinese ODM/JDM manufacturers are playing a crucial role in producing high-rate data center switches for top global brands [2] Group 3 - The 5G Communication ETF (515050) tracks the CSI 5G Communication Theme Index, with a total scale exceeding 8 billion yuan, focusing on the supply chains of Nvidia, Apple, and Huawei [3] - The optical module CPO concept stocks account for 38% of the ETF, while PCB circuit board concept stocks make up 14% [3] - The AI ETF (159381) tracks the ChiNext AI Index, with optical module CPO stocks representing over 50% of its weight, featuring New East Wisdom, Zhongji Xuchuang, and Tianfu Communication as the top three holdings [3]

Core Viewpoint - The strategic partnership between OpenAI and Luxshare Precision aims to develop a revolutionary AI device for consumers, which is currently in the prototype stage and will feature advanced contextual awareness and integration with ChatGPT's language model [1] Company Summary - Luxshare Precision has acquired a 74.67% stake in Huiju Technology through its subsidiary, indicating strong backing and potential for growth in the tech sector [1] - Huiju Technology's core profit source is its MPO business, which is leading in technology and has begun mass shipments of 16-core MPO products, positioning itself as a key supplier for major overseas cloud manufacturers like Google [1] - The demand for MPO products is robust, with profitability significantly higher than the company's average, suggesting a strong growth trajectory in the coming years due to expanding major clients, overseas capacity building, and technological advancements [1]

Group 1 - The core point of the article is that Huiju Technology (01729) experienced a significant stock price increase of over 11%, attributed to a strategic partnership between OpenAI and Luxshare Precision (002475) to develop a revolutionary AI device for consumers [1] - As of the report, Huiju Technology's stock price rose by 10.87% to HKD 17.75, with a trading volume of HKD 289 million [1] - OpenAI's first AI device is currently in the prototype development stage, designed to be portable and equipped with an advanced context-aware system, integrating the large language model behind ChatGPT for more natural human-machine interaction [1] Group 2 - Luxshare Precision acquired Huiju Technology through its subsidiary in February 2022, holding a 74.67% stake post-acquisition [1] - According to招商证券, the MPO business is the core profit source for Huiju Technology, leading in technology, with 16-core MPO products already in mass production and positioned within the overseas cloud supply chain, serving as a key supplier for Google [1] - The demand for Huiju Technology's MPO products is robust, with profitability significantly higher than the company's average, and the MPO business is expected to experience rapid growth in the coming years due to ongoing expansion with major clients, overseas capacity building, and technological advancements [1]

Group 1 - The upcoming IPO of Moore Threads, a domestic GPU unicorn known as the "Chinese version of NVIDIA," is scheduled for September 26, with a potential listing in late October to November, likely leading to speculation in related chip stocks [1] - A press conference by the central bank, the China Securities Regulatory Commission, and the National Financial Regulatory Administration will be held on the anniversary of the 924 event, focusing on financial development achievements during the 14th Five-Year Plan, which may release significant news impacting the stock market, particularly in the large financial sector [1] - The State Council is studying the implementation of domestic product standards in government procurement to attract foreign investment and ensure national treatment for foreign enterprises, as part of efforts to stabilize foreign capital [1] Group 2 - OpenAI has reached a cooperation agreement with Luxshare to develop a revolutionary AI device, indicating a significant move into hardware by OpenAI, with implications for the AI hardware sector [1] - Due to unexpectedly high sales of the standard iPhone 17, Apple has notified suppliers to increase production by 30%, with JD.com reporting that Apple's trade-in sales are four times that of the same period last year, affecting the consumer electronics and supply chain sectors [1] - The new AITO M7 will be officially launched next Tuesday, featuring laser vision technology for the first time, which will impact the new energy vehicle and lidar sectors [1]