具身智能行业：从实验室到市场的商业化探索－2025年具身智能产业链分析

人工智能行业：海外映射视角下的AI应用投资机会

9 月 5 日，美国大模型公司 Anthropic 发布公告《更新对不受支 持地区的销售限制》称，将立即停止其大模型 Claude 提供给“多 数股权由中国资本持有的集团或其子公司”使用。对此，中国大 模型公司智谱 AI 在同日傍晚火速上线“Claude API 用户特别搬 家计划”，宣称 GLM-4.5 已完全兼容 Claude 接口，开发者“只 需替换 API URL”即可一键迁移。无独有偶，近期阿里发布 Qwen 3- Max-Preview，相较于 2.5 系列，新版本在中英文理解、复杂指令 遵循、工具调用等维度实现了显著增强，同时大幅减少了知识幻 觉，让模型更智能、更可靠。总体而言，以 GLM、Qwen、Kimi 等为主的国产模型凭借强大的基准性能使，得其具备一定的编程 替代能力，未来使用率存在持续上行可能。

人工智能行业：政策、技术、需求三维共振，中期持续构筑科技投资主线

中国电子行业：端侧AI回归理性效率时代，Arm平台化战略重塑移动生态

中国电子行业：阿里加码到店业务，高德扫街榜发布-海通国际

AI Agent是突破指令执行的智能实体，核心是具备代理权，可主动感知、自主决策并执行复杂任务，区别于LLM（知识输出）和传统自动 化（规则执行）。在AGI分级中，Agent处于L3智能体阶段，性能等效90%熟练成年人。

Payments refer to the transfer of money or monetary value from one party to another, typically in exchange for goods, services, or to settle tasks. The payments sector encompasses a wide range of methods and channels that facilitate financial transactions between individuals, businesses and institutions. It is an essential component of the global economy, ensuring the smooth flow of funds in both domestic and international contexts.

公用事业行业：AI带动数据中心景气向上，电力需求有多少

中国电子行业：端侧AI与光追革新，Lumex平台重塑消费电子算力底座－Arm Unlocked速递

The global tactical communication market was sized near USD 14,055.2 million in 2023 in terms of value. Tactical Communication is a military system for transmitting information via orders or codes across various regions. It includes verbal, visual, written, and auditory forms, utilizing data transmission and voice interactions. This communication relies on complex Next Generation Network and protocols. Innovations such as ear canal earphones, noise cancellation systems, and advanced technologies are expected to boost demand in the Tactical Communication sector. Governments in developed and developing nations are investing heavily in military modernization to improve command, control, communication, and Combat systems while sustaining intelligence and communication capabilities. Moreover, the use of LTE Technology in professional mobile radio (PMR) systems, alongside advancements in connectivity technologies, has enabled real-time data exchange and the transfer of intricate video and voice information. The growth of the market is supported by elements such as the incorporation of military SATCOM in defense communication, progress in network-centered warfare, and satellite communication technologies, alongside a rising demand for land-based communication systems that contribute to the expansion of the Tactical Communication market. The incorporation of smartphones and Time Division Multiplexing in Combat zones, along with increased government spending on military applications, is anticipated to generate significant opportunities for the major participants in the Tactical Communication market.