Q&A 请介绍一下马斯克的 Neuralink 技术路线及其量产预期。 脑机接口专题解读 20260106 侵入式脑机接口如 Neuralink 准确率高达 99%，但电极移位需重新校 准。国内企业在汉字解码方面取得进展，临床试验推进将加速解码技术 完善。 脑机接口商业落地关键在于获得医疗器械注册证，侵入式设备有望纳入 医保，非侵入式设备如 Meta 神经腕带销量可观，但需解决商业模式问 题。 获得 FDA 许可，可以进行临床试验。未来，随着更多设备支持和临床试验完成， Neuralink 有望进入商品化阶段。 未来脑机接口技术路径及行业格局如何？ 未来将呈现百花齐放的情形，不同技术路径适用于不同需求。当电极放在体外 时称为非侵入式；放在体内称为侵入式；放得不够深称为半侵入式。非侵入式 信号采集有限，多用于康复或注意力监测等简单应用。而半侵入式，如北岛一 号、博瑞康基于 ECAL 方案，将电极植入硬脑膜外，实现较清晰信号采集，但 不会过度破坏大脑组织，目前博瑞康已完成 36 例临床试验，无负面事故，有 望成为全球首个取得注册证的中国企业。 对于高难度应用，如运动区解码、语 言解码、视觉重建等，需要更精准信号， ...

Group 1 - Samsung Electronics Chairman Lee Jae-Yong was spotted purchasing 100 Labubu products at a JD Mall in Beijing, including various blind boxes and figures [2] - The purchase included 10 large figures and 20 blind boxes from different series, indicating a strong interest in collectible toys [2] - Lee's visit coincided with his attendance at a China-Korea business forum, highlighting the importance of cross-border business relations [2] Group 2 - WeChat's security center denied rumors regarding new account suspension rules, clarifying that no such regulations have been issued [4][5] - The platform emphasized that normal social behaviors would not be restricted, countering misinformation circulating online [4][5] Group 3 - Bawang Tea announced the indefinite suspension of a store in Fujian after an employee was filmed improperly handling materials, leading to a thorough internal investigation [8][10] - The company took immediate action by terminating the involved employee and demoting management staff due to oversight failures [10][9] - Bawang Tea reiterated its commitment to food safety and the integrity of its operations, emphasizing the importance of adhering to safety protocols [10][9] Group 4 - Douyin is planning to establish a second headquarters in Shenzhen, focusing on the development of core products and new business initiatives [11] - The project is part of a larger investment initiative in Shenzhen, with a total investment of approximately 157.34 billion yuan across 222 new projects [11] Group 5 - MiniMax's IPO in Hong Kong saw an oversubscription of 1209 times, raising significant interest in the AI sector [11] - The company aims to raise between 3.834 billion to 4.189 billion HKD through its public offering, marking a notable achievement in the AI market [11] Group 6 - Alibaba's AI model for early pancreatic cancer screening has successfully analyzed over 180,000 CT scans, identifying 24 cases of pancreatic cancer, including 14 early-stage cases [11] - The model, developed by Alibaba's DAMO Academy, is part of ongoing collaborations with multiple medical institutions [11] Group 7 - Tesla announced a new financing plan for its Model 3 and Model Y vehicles, offering a 5-year interest-free option for customers who order before January 31 [11] - This initiative aims to make electric vehicles more accessible to consumers, potentially boosting sales in a competitive market [11] Group 8 - Disney's "Zootopia 2" has become the highest-grossing Hollywood film in China, with a box office revenue of approximately 4.25 billion yuan (around 610 million USD) [21] - This achievement highlights the growing influence of animated films in the Chinese market and Disney's successful strategy in the region [21]

来源：第一财经 【市场动态】 ①美股三大股指期货涨跌不一，截至发稿，道指期货跌0.08%，标普500指数期货涨0.02%，纳指期货涨 0.19%； ②欧洲主要股指涨跌不一，截至发稿，英国富时100指数涨1.02%，法国CAC40指数跌0.14%，德国 DAX30指数涨0.42%，欧洲斯托克50指数跌0.09%； ③LME铜期货一度涨至13387.5美元/吨的历史新高，现有所回落，LME铜期货现涨1.5%，报13188美元/ 吨； 【公司新闻】 ①诺和诺德美股盘前涨超4%，公司已在美国正式推出全球首款用于成人减重的GLP-1口服药； 【时政新闻】 ①特朗普：美国将深度介入委内瑞拉； ②特朗普撤销拨款，美国公共广播公司解散； ③美联储巴尔金表示，目前美联储的政策已处于中性利率的估计范围内; ②OneStream盘前大涨近23%，据报道称私募股权公司Hg Capital即将达成收购协议，将OneStream私有 化； ③英特尔盘前涨超1%，公司推出下一代PC芯片，首次采用Intel 18A制程； ④AMD盘前涨0.76%，公司推出下一代新品，4年内AI芯片性能有望提升1000倍； ⑤Meta宣布为Meta Ray- ...

（文章来源：第一财经） Meta宣布为Meta Ray-Ban眼镜及Meta神经腕带用户在WhatsApp和Messenger上推出新的即时通讯功能。 目前，该服务仅限美国，仅支持英语。 ...

Group 1: AI Applications - The AI application sector has seen the emergence of a blockbuster product, the Meta Ray-Ban Display smart glasses, which have sold out in retail stores across the U.S. and have a high demand for trial appointments [1][3] - Meta's smart glasses feature a full-color high-definition display and are sold in a package with a neural wristband that converts muscle signals into commands for the glasses, starting at a price of $799 [3] - Other tech giants, including Apple and Amazon, are also investing in AI glasses, with Apple expected to enter the market within 12 to 16 months [3][4] Group 2: AI Infrastructure Growth - Hon Hai Precision Industry (Foxconn) reported a significant revenue increase of 38.01% month-over-month in September, reaching 837.1 billion New Taiwan Dollars, driven by the surge in demand for AI infrastructure [6] - The company anticipates continued growth in AI server shipments and revenue in the fourth quarter, supported by strong demand for AI server racks [6] - NVIDIA has partnered with Fujitsu to build a full-stack AI infrastructure, aiming for energy efficiency and high performance through advanced CPU technology [7] Group 3: Semiconductor Industry Impact - The AI boom is reshaping the semiconductor industry, with AI-related sales now accounting for over 25% of the semiconductor market, marking the first acceleration in growth in 25 years [9] - Semiconductor prices have risen significantly, with an increase of 75% from 2019 to 2025, and a 45% increase since 2022, indicating strong pricing power in the industry [9] - AI data center semiconductor sales are projected to grow from less than 5% in 2022 to approximately 27% by 2025, further boosting the semiconductor industry's revenue growth rate [9][10]