文 | 大模型之家 北京时间1月6日凌晨，英伟达CEO黄仁勋CES 2026的开幕演讲中，系统阐述了他对人工智能产业演进 的最新判断，并正式发布了全新一代Vera Rubin计算架构。这一架构涵盖CPU、GPU、互连、网络、存 储与系统级设计，被英伟达定义为面向"下一阶段AI前沿"的基础设施平台。 在这场演讲中，黄仁勋并未将重点放在某一具体应用或模型能力上，而是反复强调一个核心命题：人工 智能正在引发一次覆盖整个计算产业的结构性重置，而英伟达的角色，是为这场重置提供底层工具与系 统能力。 AI走向"平台化"， 英伟达要做底层"卖铲人" 黄仁勋对AI市场的判断，延续了他一贯的"平台论"视角。他表示，计算产业每隔10到15年就会发生一次 底层重置：从大型机到PC，从互联网到云计算，再到移动计算。每一次重置，应用形态都会随之改 变，产业价值链也会重新分配。 但AI的特殊之处在于，它并不是单一平台的替代，而是两次平台迁移同时发生。 第一层迁移，是应用本身的重构。应用不再是被"编写"的，而是被"训练"的；不再是预设流程，而是在 运行时根据上下文实时生成每一个token、每一个像素。AI不再是应用，而是应用赖以生存的底座 ...

Core Viewpoint - The liquid cooling server sector is experiencing significant activity, with Industrial Fulian reaching its daily limit and setting a new historical high [1][4][10]. Market Overview - On October 29, the A-share market opened higher, with the ChiNext Index rising over 2% at one point [1]. - Major indices showed mixed performance, with the Shanghai Composite Index at 3995.45 (+0.18%), Shenzhen Component Index at 13527.35 (+0.72%), and ChiNext Index at 3275.29 (+1.42%) [2]. Sector Performance - The liquid cooling server concept stocks were notably active, with Industrial Fulian hitting the daily limit and achieving a historical high [4][10]. - Other sectors showing strength included Hainan Free Trade Port, electrical engineering and grid, and electronic components, while ports, retail, and banking sectors experienced fluctuations [4][11]. Notable Stocks - Key stocks in the liquid cooling server sector included: - Industrial Fulian: Price reached 16.73, with a trading volume of 681,700 shares and a market cap of 16.325 billion [8][10]. - Keda Guokuan: Increased by 16.20% to 43.11, with a market cap of 12.6 billion [10]. - Guo Dun Quantum: Rose by 11.74% to 514.02, with a market cap of 52.9 billion [10]. - Other notable performers included Shen Zhou Information, which also hit the daily limit [7][10]. Earnings Reports - Ben Chuan Intelligent reported a revenue of approximately 614 million for the first three quarters of 2025, a year-on-year increase of 43.11%, and a net profit of about 33.08 million, up 56.23% year-on-year [12][14].

Core Viewpoint - The liquid cooling server sector is experiencing active performance, with Industrial Fulian reaching a limit-up and setting a new historical high [8][10]. Market Overview - On October 29, the A-share market opened higher, with the ChiNext Index rising over 2% at one point [3]. - Major indices showed the following performance: - Shanghai Composite Index: 3995.45 (+7.22, +0.18%) - Shenzhen Component Index: 13527.35 (+97.25, +0.72%) - ChiNext Index: 3275.29 (+45.72, +1.42%) [4]. Sector Performance - The liquid cooling server concept stocks are notably active, with Industrial Fulian hitting the limit-up and achieving a historical high [8]. - Other stocks in the sector, such as Keda Guokuan and Guo Dun Quantum, also saw significant gains, with Shen Zhou Information hitting the limit-up [10]. - The electronic components sector is strong, with stocks like Ben Chuan Intelligent and Chun Zhong Technology reaching the limit-up, while others like Tong Guan Copper Foil and Fuji Da increased by over 10% [15][16]. Notable Stock Movements - Ben Chuan Intelligent (SZ:300964) saw a 20% limit-up, trading at ¥55.21, with a trading volume of 69,298 hands [17]. - Industrial Fulian's stock performance included a peak price of ¥16.73, with a trading volume of 11.02 billion [12][19]. Industry Insights - NVIDIA revealed that the Vera Rubin computing architecture is equipped with eight Rubin CPX GPUs and a fully liquid-cooled design, indicating a trend towards advanced cooling solutions in computing [19]. - The CEO of NVIDIA highlighted the global labor shortage and the potential for robots to become a significant consumer electronics opportunity, emphasizing the importance of AI skills in the workforce [20].

Group 1 - The liquid cooling server sector is showing strong performance, with Industrial Fulian reaching its daily limit and setting a new historical high [6] - Other notable performers in the liquid cooling server concept stocks include Keda Guokuan and Guodun Quantum, with Shenzhou Information also hitting the daily limit [6] - NVIDIA announced that the Vera Rubin computing architecture is equipped with eight Rubin CPX GPUs and a fully liquid-cooled design, which is contributing to the sector's momentum [6] Group 2 - The electronic components sector is also performing well, with Benchuan Intelligent hitting a 20% limit up, and other companies like Chunzong Technology and Copper Crown Copper Foil seeing gains of over 10% [8] - Benchuan Intelligent reported third-quarter revenue of approximately 614 million yuan, a year-on-year increase of 43.11%, and a net profit of about 33.08 million yuan, up 56.23% year-on-year [8] - NVIDIA's CEO highlighted the global labor shortage and the potential for robots to become a significant consumer electronics opportunity, emphasizing that the competition is between those who can use AI and those who cannot [8]