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02-20 10:02

$腾讯控股(00700)$ 我说腾讯招错人了一堆人骂我，现在gemini的物理的yao搞出gemini3.1，腾讯的yao只会发论文

02-18

马上好运，马年账户翻倍

02-16

我后悔 100 没割肉

02-16

60见我这几十万股票要废了不打算补仓了当教训拿着

02-15

吹

Anthropic掌门人：AI技术正处于临界点，未来2-3年将决定人类未来

02-13

妈的早知道割肉700美团梭哈智谱早回本了

智谱暴涨，海淀又诞生一波千万富豪

02-13

完了

市场监管总局印发《互联网平台反垄断合规指引》

02-11

$恒生指数(HSI)$ 怎么买

02-11

不会今年只有一天 A股不开港股开

02-11

纯废物行情啊春节什么行情？

02-09

$澜起科技(06809)$

02-09

$卓正医疗(02677)$ 废物

02-06

$腾讯控股(00700)$ **的

02-05

$大族数控(03200)$ 跑了

02-05

$牧原股份(02714)$ 跑了

02-05

$卓正医疗(02677)$ 回血

02-05

$腾讯控股(00700)$ 拉跨

02-03

$腾讯控股(00700)$ 一枝独秀

01-30

拉起来再说╮(╯_╰)╭

01-29

$中芯国际(00981)$ 亏了

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我说腾讯招错人了一堆人骂我，现在gemini的物理的yao搞出gemini3.1，腾讯的yao只会发论文","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/534659239175304","isVote":1,"tweetType":1,"viewCount":3039,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3502807605014993","authorId":"3502807605014993","name":"错过的不是你的","avatar":"https://static.tigerbbs.com/3eacccbee36d7cf1680d2a778b0d929b","crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"3502807605014993","idStr":"3502807605014993"},"content":"喜欢营销天才的都要小心，天才少女，90后天才。字节没营销过这个","text":"喜欢营销天才的都要小心，天才少女，90后天才。字节没营销过这个","html":"喜欢营销天才的都要小心，天才少女，90后天才。字节没营销过这个"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":534019356291472,"gmtCreate":1771396776307,"gmtModify":1771396789042,"author":{"id":"3435615840878311","authorId":"3435615840878311","name":"暴涨暴赚","avatar":"https://static.tigerbbs.com/931ccc12171c6d287be9ae1be78c5f05","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3435615840878311","idStr":"3435615840878311"},"themes":[],"htmlText":"马上好运，马年账户翻倍","listText":"马上好运，马年账户翻倍","text":"马上好运，马年账户翻倍","images":[{"img":"https://static.tigerbbs.com/42995d8adaafa41c0834f5e432cc2384"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/534019356291472","isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":533309925462496,"gmtCreate":1771223503388,"gmtModify":1771223505925,"author":{"id":"3435615840878311","authorId":"3435615840878311","name":"暴涨暴赚","avatar":"https://static.tigerbbs.com/931ccc12171c6d287be9ae1be78c5f05","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3435615840878311","idStr":"3435615840878311"},"themes":[],"htmlText":"我后悔 100 没割肉","listText":"我后悔 100 没割肉","text":"我后悔 100 没割肉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/533309925462496","isVote":1,"tweetType":1,"viewCount":179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":533309715383632,"gmtCreate":1771223456091,"gmtModify":1771223458868,"author":{"id":"3435615840878311","authorId":"3435615840878311","name":"暴涨暴赚","avatar":"https://static.tigerbbs.com/931ccc12171c6d287be9ae1be78c5f05","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3435615840878311","idStr":"3435615840878311"},"themes":[],"title":"","htmlText":"60见 我这几十万股票要废了 不打算补仓了 当教训拿着","listText":"60见 我这几十万股票要废了 不打算补仓了 当教训拿着","text":"60见 我这几十万股票要废了 不打算补仓了 当教训拿着","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/533309715383632","isVote":1,"tweetType":1,"viewCount":1142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":532973924275120,"gmtCreate":1771141473623,"gmtModify":1771141475776,"author":{"id":"3435615840878311","authorId":"3435615840878311","name":"暴涨暴赚","avatar":"https://static.tigerbbs.com/931ccc12171c6d287be9ae1be78c5f05","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3435615840878311","idStr":"3435615840878311"},"themes":[],"title":"","htmlText":"吹","listText":"吹","text":"吹","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/532973924275120","repostId":"2611114263","repostType":2,"repost":{"id":"2611114263","kind":"highlight","pubTimestamp":1771063005,"share":"https://www.laohu8.com/m/news/2611114263?lang=zh_CN&edition=full","pubTime":"2026-02-14 17:56","market":"us","language":"zh","title":"Anthropic掌门人：AI技术正处于临界点，未来2-3年将决定人类未来","url":"https://stock-news.laohu8.com/highlight/detail?id=2611114263","media":"智通财经网","summary":"未来2-3年将决定人类未来两百年的走向。","content":"<html><head></head><body><p>在AI技术指数级爆发的前夜，Anthropic掌门人Dario Amodei抛出了震撼业界的预测：<strong>我们正处于“指数增长的黄昏”，最快到2026年，人类将迎来由数万个顶尖大脑组成的“数据中心里的天才国度”。</strong></p><p>近日，大模型独角兽Anthropic首席执行官Dario Amodei在与Dwarkesh Patel的深度访谈中，罕见地披露了公司惊人的营收增速预期，并对<a href=\"https://laohu8.com/S/AGBK\">AGI</a>（通用人工智能）的时间表、算力投资的财务逻辑以及地缘政治风险进行了详尽阐述。Amodei认为，AI技术正处于从量变到质变的临界点，未来2-3年将决定人类未来两百年的走向。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9885410242f0a11585f24a645146fa05\" tg-width=\"1024\" tg-height=\"563\"/></p><p>（Anthropic首席执行官Dario Amodei作客Dwarkesh Patel播客）</p><p>AI 正处于指数级增长末期</p><p>Dario Amodei在访谈伊始就指出，我们已逼近 AI 指数增长曲线的尾声，而世界尚未充分感知这场质变。</p><p>从 GPT-1 到如今的专业级模型，AI 完成了从 “聪慧高中生” 到 “博士水准” 的跃迁，编程、数学等领域甚至实现超越，底层扩展定律从未失效，算力与数据的投入仍在持续兑现明确收益。</p><p>指数增长的魔力藏在末期的爆发里。Dario表示，Anthropic 年营收 10 倍的跨越式增长，Claude Code 让工程师生产力倍增，模型上下文长度与泛化能力的快速突破，都在印证 “终点临近” 的信号。<strong>这场增长不只是参数的堆砌，更是智能本质的升级 —— 从数据拟合到自主泛化，AI 正在补齐最后几块关键能力拼图。</strong></p><p>“数据中心里的天才国度”：重新定义2026</p><p>Amodei在访谈中提出了一个极具冲击力的概念——“数据中心里的天才国度”（A Country of Geniuses in a Datacenter）。他回顾了过去三年的技术演进，认为AI模型已从“聪明的高中生”进化为“专业人士”。</p><p>他大胆预测，<strong>到2026年或2027年，单一模型所展现出的智力水平、知识深度和逻辑推理能力，将不仅等同于一名诺贝尔奖得主，而是等同于数万名顶尖天才协同工作的集合体。</strong></p><p>对于这一时间表的确定性，Amodei表现出极高的信心：</p><p>“对于10年内实现这一愿景，我有90%的把握；而对于这在未来1-2年内发生，我认为是50/50的可能性。”</p><p>他指出，唯一的变数可能来自地缘政治灾难（如芯片供应链中断）或社会剧烈动荡。</p><p>营收狂飙：从1亿到100亿美元的“恐怖”曲线</p><p>市场最为关注的财务数据方面，Amodei披露了Anthropic令人咋舌的增长曲线。他透露，<strong>公司营收正经历着“怪异的每年10倍增长”（bizarre 10x per year growth）。</strong>Amodei在访谈中直言：</p><p>“2023年，我们从0增长到1亿美元；2024年，从1亿美元增长到10亿美元；而2025年，我们预计将达到90亿至100亿美元。这一指数级增长大致符合我的预期，甚至在今年第一个月，我们又增加了数十亿美元的营收。”</p><p>Amodei强调，尽管受到经济扩散速度（Diffusion）滞后的影响，企业采纳AI需要经过法律审核、合规检查等漫长流程，但技术本身的能力提升正在推动这一疯狂的增长曲线。</p><p>算力豪赌与破产风险：CEO的财务平衡术</p><p>面对如此确定的技术前景，为何不现在就举债万亿美元囤积芯片？Amodei给出了极具现实意义的财务解释：算力扩容必须与收入增长和预测精度挂钩，否则将面临毁灭性风险。</p><p>“<strong>如果我预测2027年会有万亿级需求，从而提前购买了价值1万亿美元的算力，但只要需求爆发的时间晚了一年，或者增长率稍微从10倍降至5倍，没有任何对冲手段能阻止公司破产</strong>。”Amodei解释道，这种基于“对数收益定律”的投资回报需要精密核算。</p><p>他指出，Anthropic目前的策略是“负责任地激进”，即投入的算力规模足以捕捉巨大的上行空间，但如果市场爆发推迟，公司凭借其企业级业务的高毛利和现金流，依然能够生存。</p><p>他预计，<strong>Anthropic有望在2028年左右实现盈利，届时AI将成为历史上盈利能力最强的产业之一。</strong></p><p>软件工程的终局：从写代码到取代工程师</p><p>在具体落地场景上，Amodei将编程视为AI最先攻克的堡垒。他将AI在软件工程领域的进化分为三个阶段：</p><p><strong>第一阶段：</strong>模型编写90%的代码行（已实现）。</p><p><strong>第二阶段：</strong>模型处理90%的端到端任务，如修复Bug、配置集群、撰写文档。</p><p><strong>第三阶段：</strong>模型具备“职场经验”，能够理解复杂代码库的上下文并设定技术方向。</p><p>Amodei预测，<strong>在1-3年内，AI将能够胜任高级软件工程师的所有职责。</strong></p><p>“这并不意味着工程师会失业，而是生产力的巨大爆发。现在的模型能做到的不仅是补全代码，而是直接接管GPU内核编写等高难度任务。”</p></body></html>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Anthropic掌门人：AI技术正处于临界点，未来2-3年将决定人类未来</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ 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{color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnthropic掌门人：AI技术正处于临界点，未来2-3年将决定人类未来\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-14 17:56 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1405540.html><strong>智通财经网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>在AI技术指数级爆发的前夜，Anthropic掌门人Dario Amodei抛出了震撼业界的预测：我们正处于“指数增长的黄昏”，最快到2026年，人类将迎来由数万个顶尖大脑组成的“数据中心里的天才国度”。近日，大模型独角兽Anthropic首席执行官Dario Amodei在与Dwarkesh Patel的深度访谈中，罕见地披露了公司惊人的营收增速预期，并对AGI（通用人工智能）的时间表、算力投资...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1405540.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9885410242f0a11585f24a645146fa05","relate_stocks":{"AI":"C3.ai, Inc."},"source_url":"http://www.zhitongcaijing.com/content/detail/1405540.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2611114263","content_text":"在AI技术指数级爆发的前夜，Anthropic掌门人Dario Amodei抛出了震撼业界的预测：我们正处于“指数增长的黄昏”，最快到2026年，人类将迎来由数万个顶尖大脑组成的“数据中心里的天才国度”。近日，大模型独角兽Anthropic首席执行官Dario Amodei在与Dwarkesh Patel的深度访谈中，罕见地披露了公司惊人的营收增速预期，并对AGI（通用人工智能）的时间表、算力投资的财务逻辑以及地缘政治风险进行了详尽阐述。Amodei认为，AI技术正处于从量变到质变的临界点，未来2-3年将决定人类未来两百年的走向。（Anthropic首席执行官Dario Amodei作客Dwarkesh Patel播客）AI 正处于指数级增长末期Dario Amodei在访谈伊始就指出，我们已逼近 AI 指数增长曲线的尾声，而世界尚未充分感知这场质变。从 GPT-1 到如今的专业级模型，AI 完成了从 “聪慧高中生” 到 “博士水准” 的跃迁，编程、数学等领域甚至实现超越，底层扩展定律从未失效，算力与数据的投入仍在持续兑现明确收益。指数增长的魔力藏在末期的爆发里。Dario表示，Anthropic 年营收 10 倍的跨越式增长，Claude Code 让工程师生产力倍增，模型上下文长度与泛化能力的快速突破，都在印证 “终点临近” 的信号。这场增长不只是参数的堆砌，更是智能本质的升级 —— 从数据拟合到自主泛化，AI 正在补齐最后几块关键能力拼图。“数据中心里的天才国度”：重新定义2026Amodei在访谈中提出了一个极具冲击力的概念——“数据中心里的天才国度”（A Country of Geniuses in a Datacenter）。他回顾了过去三年的技术演进，认为AI模型已从“聪明的高中生”进化为“专业人士”。他大胆预测，到2026年或2027年，单一模型所展现出的智力水平、知识深度和逻辑推理能力，将不仅等同于一名诺贝尔奖得主，而是等同于数万名顶尖天才协同工作的集合体。对于这一时间表的确定性，Amodei表现出极高的信心：“对于10年内实现这一愿景，我有90%的把握；而对于这在未来1-2年内发生，我认为是50/50的可能性。”他指出，唯一的变数可能来自地缘政治灾难（如芯片供应链中断）或社会剧烈动荡。营收狂飙：从1亿到100亿美元的“恐怖”曲线市场最为关注的财务数据方面，Amodei披露了Anthropic令人咋舌的增长曲线。他透露，公司营收正经历着“怪异的每年10倍增长”（bizarre 10x per year growth）。Amodei在访谈中直言：“2023年，我们从0增长到1亿美元；2024年，从1亿美元增长到10亿美元；而2025年，我们预计将达到90亿至100亿美元。这一指数级增长大致符合我的预期，甚至在今年第一个月，我们又增加了数十亿美元的营收。”Amodei强调，尽管受到经济扩散速度（Diffusion）滞后的影响，企业采纳AI需要经过法律审核、合规检查等漫长流程，但技术本身的能力提升正在推动这一疯狂的增长曲线。算力豪赌与破产风险：CEO的财务平衡术面对如此确定的技术前景，为何不现在就举债万亿美元囤积芯片？Amodei给出了极具现实意义的财务解释：算力扩容必须与收入增长和预测精度挂钩，否则将面临毁灭性风险。“如果我预测2027年会有万亿级需求，从而提前购买了价值1万亿美元的算力，但只要需求爆发的时间晚了一年，或者增长率稍微从10倍降至5倍，没有任何对冲手段能阻止公司破产。”Amodei解释道，这种基于“对数收益定律”的投资回报需要精密核算。他指出，Anthropic目前的策略是“负责任地激进”，即投入的算力规模足以捕捉巨大的上行空间，但如果市场爆发推迟，公司凭借其企业级业务的高毛利和现金流，依然能够生存。他预计，Anthropic有望在2028年左右实现盈利，届时AI将成为历史上盈利能力最强的产业之一。软件工程的终局：从写代码到取代工程师在具体落地场景上，Amodei将编程视为AI最先攻克的堡垒。他将AI在软件工程领域的进化分为三个阶段：第一阶段：模型编写90%的代码行（已实现）。第二阶段：模型处理90%的端到端任务，如修复Bug、配置集群、撰写文档。第三阶段：模型具备“职场经验”，能够理解复杂代码库的上下文并设定技术方向。Amodei预测，在1-3年内，AI将能够胜任高级软件工程师的所有职责。“这并不意味着工程师会失业，而是生产力的巨大爆发。现在的模型能做到的不仅是补全代码，而是直接接管GPU内核编写等高难度任务。”","news_type":1,"symbols_score_info":{"AI":0.9}},"isVote":1,"tweetType":1,"viewCount":153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":532354230490824,"gmtCreate":1770988416070,"gmtModify":1770988530312,"author":{"id":"3435615840878311","authorId":"3435615840878311","name":"暴涨暴赚","avatar":"https://static.tigerbbs.com/931ccc12171c6d287be9ae1be78c5f05","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3435615840878311","idStr":"3435615840878311"},"themes":[],"title":"","htmlText":"妈的 早知道割肉700美团梭哈智谱 早回本了","listText":"妈的 早知道割肉700美团梭哈智谱 早回本了","text":"妈的 早知道割肉700美团梭哈智谱 早回本了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/532354230490824","repostId":"2610921279","repostType":2,"repost":{"id":"2610921279","kind":"news","pubTimestamp":1770982661,"share":"https://www.laohu8.com/m/news/2610921279?lang=zh_CN&edition=full","pubTime":"2026-02-13 19:37","market":"hk","language":"zh","title":"智谱暴涨，海淀又诞生一波千万富豪","url":"https://stock-news.laohu8.com/highlight/detail?id=2610921279","media":"投资界","summary":"这一幕令人惊叹。","content":"<html><head></head><body><p>这一幕令人惊叹。</p><p>本周，<a href=\"https://laohu8.com/S/02513\">智谱</a>股价暴涨138%，市值突破2100亿港元，1月8日上市以来累计涨幅达317.38%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd037a5191f9ee2e0ac53e340b2b0634\" title=\"\" tg-width=\"560\" tg-height=\"240\"/></p><p>看着飙升的股价，相信智谱员工也乐开了花。因为有一半员工都持有公司股份，早年的一纸协议现在正逐渐变为真金白银。粗略计算，这些员工人均持股市值都在千万港元以上，甚至还诞生了多位亿万富豪。</p><p>正如网友总结那般：“一夜之间，海淀又有一群人财富自由了。”</p><p>这是一抹缩影。在智谱的大本营北京海淀区，接连诞生了<a href=\"https://laohu8.com/S/688256\">寒武纪</a>、<a href=\"https://laohu8.com/S/688795\">摩尔线程</a>等超级IPO，一批批员工成为了AI造富神话的主角；同时这里还有一众AI独角兽蓄势待发，包括月之暗面、<a href=\"https://laohu8.com/S/000806\">银河</a>通用等等。这方土地，正亲历着波澜壮阔的AI时代。</p><p><strong>智谱暴涨</strong></p><p><strong>诞生400位千万富豪</strong></p><p>智谱的故事，还要从坐落于海淀的清华园说起。</p><p>时间回到2006年，清华计算机系知识工程实验室（KEG实验室）发布AMiner平台，即利用人工智能的方法，去挖掘自然科学或技术发展的客观规律，为智谱日后创立奠定了基础。</p><p>2019年，为了将科研成果发挥出最大价值，智谱应运而生。三位创始人中，清华计算机系知名教授唐杰担任首席科学家；清华创新领军工程博士张鹏担任CEO兼总经理；清华校友刘德兵则出任董事长一职。</p><p>此后，一场大模型浪潮席卷全球。今年1月初，智谱正式登陆<a href=\"https://laohu8.com/S/00388\">港交所</a>，一举成为“全球大模型第一股”，上市首日市值便超过500亿港元。</p><p>智谱身后投资人迎来一笔丰厚回报。在IPO前，智谱共集结超50家机构股东。按招股书变更顺序，包括中科创星、华控技术转移有限公司、通智投资、达晨财智、华控基金、君联资本、启明创投、今日资本、光速光合、顺为资本、红杉中国、高瓴、云晖资本、招商局创投、Prosperity7、5G基金、珠海科技产业集团、<a href=\"https://laohu8.com/S/000931\">中关村</a>科学城、策源资本、<a href=\"https://laohu8.com/S/00992\">联想</a>创投等创投机构，<a href=\"https://laohu8.com/S/MPNGY\">美团</a>、蚂蚁、<a href=\"https://laohu8.com/S/BABA\">阿里</a>、<a href=\"https://laohu8.com/S/00700\">腾讯</a>、<a href=\"https://laohu8.com/S/XIACY\">小米</a>、金山、<a href=\"https://laohu8.com/S/BZ\">Boss直聘</a>、<a href=\"https://laohu8.com/S/TAL\">好未来</a>等产业资本，以及北京、上海、成都、天津、杭州等地方国资。</p><p>伴随着智谱成功上市，公司内部也催生出一批千万乃至亿万富豪。招股书显示，截至2025年6月末，智谱拥有员工883人，其中452名员工持股，占比高达51.2%。</p><p>具体来看，两大员工持股平台慧惠和智登，均成立于2021年。其中，慧惠的普通合伙人为刘德兵，持有30.33%的合伙权益；有限合伙人合计426人，张鹏和执行董事张笑涵分别持有20.98%、0.46%的合伙权益。</p><p>公告显示，截止今年1月，慧惠平台持股比例为7.62%，而高管之外的424名员工共持有慧惠48.23%的权益。<strong>若以最新1700亿市值计算，这424名员工人均持股市值超1400万港元。</strong></p><p>而智登的普通合伙人同样为刘德兵，其持有39.01%的合伙权益，LP合计25人均为公司员工和顾问，其中执行董事张鹏持有4.63%的合伙权益，16名顾问为全职实习生，均为智谱委聘的算法专家，且均为独立第三方。</p><p>智登的持股比例略低于慧惠为5.25%，同样以1700亿市值计算，平台合计持股市值为89.25亿港元，而24名员工及顾问持有56.36%的权益，由此人均持股市值高达2亿港元。</p><p>那么，智谱凭什么市值翻了近三倍？</p><p>这里，不得不提到一则大模型传闻。近日，一款名为“Pony Alpha”的大模型在全球模型服务平台OpenRouter上架，并迅速在24小时内登顶平台热度榜首。据介绍，Pony Alpha是新一代的通用大模型，主打编程、逻辑推理和角色扮演，并针对Agent（智能体）工作流进行了优化，具有极高的工具调用准确率。</p><p>性能强大却匿名，引发了一众科技发烧友们的猜测。由于“Pony”意为“小马”，此时正值马年春节前夕，因此市场判断这款模型出自中国企业的概率更大，彼时答案被锁定在DeepSeek-V4或GLM-5。</p><p>如今，答案浮出水面。2月12日凌晨，智谱正式官宣上线并开源GLM-5：在Coding与Agent能力上，取得开源SOTA表现，在真实编程场景的使用体感逼近Claude Opus 4.5，擅长复杂系统工程与长程Agent任务。</p><p>在业内看来，这意味大模型编程从“写代码片段”的Vibe Coding时代，正式迈入“完成系统工程”的智能体工程时代。</p><p><strong>海淀，一场AI造富潮</strong></p><p>这一幕似曾相识。</p><p>不久前，摩尔线程正式登陆科创板，成为“国产GPU第一股”，首日开盘市值即超3000亿元。这一超级IPO同样诞生于海淀，由前<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>全球副总裁、<a href=\"https://laohu8.com/S/00021\">大中华</a>区总经理张建中在2020年一手创立。上市之后，摩尔线程股价在短短几天内火箭般蹿升，市值一度突破4000亿元。</p><p>与智谱类似，摩尔线程也通过员工持股平台，将员工利益与企业成长紧紧绑定在一起。招股书显示，摩尔线程共计有722名员工通过杭州华傲、杭州众傲、杭州京傲及以“加速 X 号”为名的 26 家员工持股平台间接持有公司股份，其中7人为董事、审计委员会委员、高级管理人员、核心技术人员；其余700名在职员工合计持有7.52%的权益，以2月10日收盘市值计算，人均持股市值近3000万元；另有15名离职员工同样享有0.41%的权益，人均持股市值超7000万元。</p><p>这也意味着，仅摩尔线程一家企业就诞生了700多位千万富豪。而这样的AI造富神话，仍在海淀这片土地上不断上演。</p><p>时间线向前推移至去年10月，来自海淀的<a href=\"https://laohu8.com/S/01384\">滴普科技</a>登陆港交所，成为港股“企业级大模型AI应用第一股”，最新市值近280亿港元。紧随其后，“物理AI第一股”也花落海淀2025年末，<a href=\"https://laohu8.com/S/06651\">五一视界</a>成功挂牌港股，这是一家以2030地球克隆愿景为驱动的科技公司，市值也超过200亿港元。</p><p>当然，令人印象最为深刻的AI企业当属寒武纪。去年8月，寒武纪市值一度突破5000亿元，成为A股历史上第二只站上5000亿元市值的千元股。寒武纪不仅总部位于海淀，其创始人陈云霁和陈天石两<a href=\"https://laohu8.com/S/002562\">兄弟</a>，早年更是一前一后加入坐落于中关村的中国科学院计算所，最终为创立寒武纪埋下伏笔。</p><p>不止于此，海淀还有一批新鲜血液投身到AI大潮之中。例如即将登上马年春晚的银河通用，正是脱胎于海淀。去年12月，公司宣布完成新一轮超3亿美元融资，由<a href=\"https://laohu8.com/S/CHL\">中国移动</a>链长基金领投，中金资本、中科院基金、苏创投、央视融媒体基金、<a href=\"https://laohu8.com/S/002009\">天奇股份</a>等重量级投资平台及产业巨头联合注资，并同步获得来自新加坡、中东的国际投资机构及老股东的加注。至此，国内具身智能单轮融资及累计融资双纪录再度刷新。据知情人士透露，银河通用最新估值已达30亿美元（超200亿人民币）。</p><p>还有知名大模型独角兽月之暗面，在2025年最后一天压哨官宣，已完成5亿美元C轮融资，且大幅超募<a href=\"https://laohu8.com/S/09988\">阿里</a>、腾讯、王慧文等老股东均追加投资。本轮融资后，月之暗面投后估值跃升至43亿美元（约合人民币300亿元）。</p><p>放眼望去，海淀AI产业版图正愈发壮大。</p><p><strong>为何是海淀？</strong></p><p>某种程度上，海淀的发展历程，便是一部中国科技创新的缩影史。</p><p>自1952年建区以来，海淀就被定义为“文教区”。这里不仅孕育了多家顶尖学府与科研机构，更在改革开放后接连把握计算机、互联网、移动互联网三波技术浪潮。时至今日，海淀更是以占北京市2.6%的土地，创造了全市超四分之一的GDP，承载了全国70%以上的AI企业、80%以上的AI2000全球顶尖学者。</p><p>中关村科学城管委会副主任、海淀区副区长唐超曾表示，“海淀区是国内人工智能领域科研基础最好、研发创新能力最强、产品迭代最活跃的地区。”细细梳理下来，这份“底气”恰恰源于海淀经年累月形成的AI产业生态。</p><p>资料显示，2025年海淀区人工智能市场规模已达3600亿元，培育了1900家人工智能核心企业，同时拥有人工智能领域全国重点实验室14家、新型研发机构4家，有21家高校获批人工智能本科专业，构建起“基础研究－人才培养－成果转化”的完整链条。</p><p>这里还坐拥北京最大单体智算集群，是全国首个获批的国家级人工智能先进制造业集群；截止去年12月，海淀累计已完成124款生成式人工智能服务备案，占全市备案大模型总量的66%。</p><p>此外数据显示，约四成顶尖人工智能人才汇聚于北京，其中超八成扎根海淀，包括人工智能学者1.23万人、入选人工智能领域全球顶尖学者过百人次，已基本形成芯片、框架、大模型、集成应用在内的全产业链部署。</p><p>早在2024年，海淀区就发布全球首个人工智能街区概念在中关村科学城南部53平方公里的范围内，集中打造“两区一带多点”格局，即五道口、大钟寺2个先导区，一条京张遗址公园创新交往带，以及北大西门、学院路、知春路若干创新片区。</p><p>在这里，创业者与科学家为邻，上下楼即上下游。并且当智谱、寒武纪等企业崛起为行业标杆之后，反哺海淀AI生态成为他们共同的选择例如智谱发起的“Z计划”已投资数十家上下游企业，其中半数将研发中心设于海淀；寒武纪的芯片技术则为区域内AI企业提供底层支撑。</p><p>摩尔线程创始人张建中也曾感慨，“在海淀，寻找上下游合作伙伴无需跨城，一小时车程内就能完成技术对接与客户验证。”</p><p>正所谓“创投兴，则产业聚。”犹记得2025年2月，中关村科学城科技成长三期基金正式发布，规模100亿元。至此，科技成长基金总规模增至200亿元。</p><p>“海淀是一个好的创业沃土、科研的沃土、投资的沃土，它有非常丰富的科研资源、高校和科研院所，可以持续不断地孵化出好的科技创新企业。”君联资本总裁李家庆彼时发言表示，海淀良好的营商环境，能为人才创造好的生活环境、教育环境和医疗环境，这有利于海淀留住高端的人才。</p><p>还有一组数据值得关注去年11月，海淀区财政局发布显示：自2021年科技成长基金设立以来，已累计拨付58.87亿元，重点支持核心技术突出、具备发展潜力的人工智能企业，并带动社会资本出资188亿元，形成政府领投、社会跟投的良性循环。</p><p>其中，直接投资航迹科技、智谱、宇树科技、爱笔智能、深势科技、生数科技、摩尔线程等23家人工智能企业22.18亿元；通过与九合创投、达晨财智、汉康资本、君联资本等机构合作，投向10只涵盖人工智能方向的子基金11.39亿元。</p><p>回望40年前，海淀的“电子一条街”点燃了中国科技创新的星星之火；40年后，这片热土又孕育出中国AI的崭新篇章。这里最动人的从来不是高楼大厦，而是凌晨两点那一盏盏依然亮着的实验室灯光。无数个身影，正在缔造着“全球人工智能第一城”。</p></body></html>","source":"tzj","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n智谱暴涨，海淀又诞生一波千万富豪\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-13 19:37 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/cFbYJ7KhxofMLFniXLkRIA><strong>投资界</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>这一幕令人惊叹。本周，智谱股价暴涨138%，市值突破2100亿港元，1月8日上市以来累计涨幅达317.38%。看着飙升的股价，相信智谱员工也乐开了花。因为有一半员工都持有公司股份，早年的一纸协议现在正逐渐变为真金白银。粗略计算，这些员工人均持股市值都在千万港元以上，甚至还诞生了多位亿万富豪。正如网友总结那般：“一夜之间，海淀又有一群人财富自由了。”这是一抹缩影。在智谱的大本营北京海淀区，接连诞生了...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/cFbYJ7KhxofMLFniXLkRIA\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ec648c81f8606feff745467905ba8b87","relate_stocks":{"02513":"智谱"},"source_url":"https://mp.weixin.qq.com/s/cFbYJ7KhxofMLFniXLkRIA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2610921279","content_text":"这一幕令人惊叹。本周，智谱股价暴涨138%，市值突破2100亿港元，1月8日上市以来累计涨幅达317.38%。看着飙升的股价，相信智谱员工也乐开了花。因为有一半员工都持有公司股份，早年的一纸协议现在正逐渐变为真金白银。粗略计算，这些员工人均持股市值都在千万港元以上，甚至还诞生了多位亿万富豪。正如网友总结那般：“一夜之间，海淀又有一群人财富自由了。”这是一抹缩影。在智谱的大本营北京海淀区，接连诞生了寒武纪、摩尔线程等超级IPO，一批批员工成为了AI造富神话的主角；同时这里还有一众AI独角兽蓄势待发，包括月之暗面、银河通用等等。这方土地，正亲历着波澜壮阔的AI时代。智谱暴涨诞生400位千万富豪智谱的故事，还要从坐落于海淀的清华园说起。时间回到2006年，清华计算机系知识工程实验室（KEG实验室）发布AMiner平台，即利用人工智能的方法，去挖掘自然科学或技术发展的客观规律，为智谱日后创立奠定了基础。2019年，为了将科研成果发挥出最大价值，智谱应运而生。三位创始人中，清华计算机系知名教授唐杰担任首席科学家；清华创新领军工程博士张鹏担任CEO兼总经理；清华校友刘德兵则出任董事长一职。此后，一场大模型浪潮席卷全球。今年1月初，智谱正式登陆港交所，一举成为“全球大模型第一股”，上市首日市值便超过500亿港元。智谱身后投资人迎来一笔丰厚回报。在IPO前，智谱共集结超50家机构股东。按招股书变更顺序，包括中科创星、华控技术转移有限公司、通智投资、达晨财智、华控基金、君联资本、启明创投、今日资本、光速光合、顺为资本、红杉中国、高瓴、云晖资本、招商局创投、Prosperity7、5G基金、珠海科技产业集团、中关村科学城、策源资本、联想创投等创投机构，美团、蚂蚁、阿里、腾讯、小米、金山、Boss直聘、好未来等产业资本，以及北京、上海、成都、天津、杭州等地方国资。伴随着智谱成功上市，公司内部也催生出一批千万乃至亿万富豪。招股书显示，截至2025年6月末，智谱拥有员工883人，其中452名员工持股，占比高达51.2%。具体来看，两大员工持股平台慧惠和智登，均成立于2021年。其中，慧惠的普通合伙人为刘德兵，持有30.33%的合伙权益；有限合伙人合计426人，张鹏和执行董事张笑涵分别持有20.98%、0.46%的合伙权益。公告显示，截止今年1月，慧惠平台持股比例为7.62%，而高管之外的424名员工共持有慧惠48.23%的权益。若以最新1700亿市值计算，这424名员工人均持股市值超1400万港元。而智登的普通合伙人同样为刘德兵，其持有39.01%的合伙权益，LP合计25人均为公司员工和顾问，其中执行董事张鹏持有4.63%的合伙权益，16名顾问为全职实习生，均为智谱委聘的算法专家，且均为独立第三方。智登的持股比例略低于慧惠为5.25%，同样以1700亿市值计算，平台合计持股市值为89.25亿港元，而24名员工及顾问持有56.36%的权益，由此人均持股市值高达2亿港元。那么，智谱凭什么市值翻了近三倍？这里，不得不提到一则大模型传闻。近日，一款名为“Pony Alpha”的大模型在全球模型服务平台OpenRouter上架，并迅速在24小时内登顶平台热度榜首。据介绍，Pony Alpha是新一代的通用大模型，主打编程、逻辑推理和角色扮演，并针对Agent（智能体）工作流进行了优化，具有极高的工具调用准确率。性能强大却匿名，引发了一众科技发烧友们的猜测。由于“Pony”意为“小马”，此时正值马年春节前夕，因此市场判断这款模型出自中国企业的概率更大，彼时答案被锁定在DeepSeek-V4或GLM-5。如今，答案浮出水面。2月12日凌晨，智谱正式官宣上线并开源GLM-5：在Coding与Agent能力上，取得开源SOTA表现，在真实编程场景的使用体感逼近Claude Opus 4.5，擅长复杂系统工程与长程Agent任务。在业内看来，这意味大模型编程从“写代码片段”的Vibe Coding时代，正式迈入“完成系统工程”的智能体工程时代。海淀，一场AI造富潮这一幕似曾相识。不久前，摩尔线程正式登陆科创板，成为“国产GPU第一股”，首日开盘市值即超3000亿元。这一超级IPO同样诞生于海淀，由前英伟达全球副总裁、大中华区总经理张建中在2020年一手创立。上市之后，摩尔线程股价在短短几天内火箭般蹿升，市值一度突破4000亿元。与智谱类似，摩尔线程也通过员工持股平台，将员工利益与企业成长紧紧绑定在一起。招股书显示，摩尔线程共计有722名员工通过杭州华傲、杭州众傲、杭州京傲及以“加速 X 号”为名的 26 家员工持股平台间接持有公司股份，其中7人为董事、审计委员会委员、高级管理人员、核心技术人员；其余700名在职员工合计持有7.52%的权益，以2月10日收盘市值计算，人均持股市值近3000万元；另有15名离职员工同样享有0.41%的权益，人均持股市值超7000万元。这也意味着，仅摩尔线程一家企业就诞生了700多位千万富豪。而这样的AI造富神话，仍在海淀这片土地上不断上演。时间线向前推移至去年10月，来自海淀的滴普科技登陆港交所，成为港股“企业级大模型AI应用第一股”，最新市值近280亿港元。紧随其后，“物理AI第一股”也花落海淀2025年末，五一视界成功挂牌港股，这是一家以2030地球克隆愿景为驱动的科技公司，市值也超过200亿港元。当然，令人印象最为深刻的AI企业当属寒武纪。去年8月，寒武纪市值一度突破5000亿元，成为A股历史上第二只站上5000亿元市值的千元股。寒武纪不仅总部位于海淀，其创始人陈云霁和陈天石两兄弟，早年更是一前一后加入坐落于中关村的中国科学院计算所，最终为创立寒武纪埋下伏笔。不止于此，海淀还有一批新鲜血液投身到AI大潮之中。例如即将登上马年春晚的银河通用，正是脱胎于海淀。去年12月，公司宣布完成新一轮超3亿美元融资，由中国移动链长基金领投，中金资本、中科院基金、苏创投、央视融媒体基金、天奇股份等重量级投资平台及产业巨头联合注资，并同步获得来自新加坡、中东的国际投资机构及老股东的加注。至此，国内具身智能单轮融资及累计融资双纪录再度刷新。据知情人士透露，银河通用最新估值已达30亿美元（超200亿人民币）。还有知名大模型独角兽月之暗面，在2025年最后一天压哨官宣，已完成5亿美元C轮融资，且大幅超募阿里、腾讯、王慧文等老股东均追加投资。本轮融资后，月之暗面投后估值跃升至43亿美元（约合人民币300亿元）。放眼望去，海淀AI产业版图正愈发壮大。为何是海淀？某种程度上，海淀的发展历程，便是一部中国科技创新的缩影史。自1952年建区以来，海淀就被定义为“文教区”。这里不仅孕育了多家顶尖学府与科研机构，更在改革开放后接连把握计算机、互联网、移动互联网三波技术浪潮。时至今日，海淀更是以占北京市2.6%的土地，创造了全市超四分之一的GDP，承载了全国70%以上的AI企业、80%以上的AI2000全球顶尖学者。中关村科学城管委会副主任、海淀区副区长唐超曾表示，“海淀区是国内人工智能领域科研基础最好、研发创新能力最强、产品迭代最活跃的地区。”细细梳理下来，这份“底气”恰恰源于海淀经年累月形成的AI产业生态。资料显示，2025年海淀区人工智能市场规模已达3600亿元，培育了1900家人工智能核心企业，同时拥有人工智能领域全国重点实验室14家、新型研发机构4家，有21家高校获批人工智能本科专业，构建起“基础研究－人才培养－成果转化”的完整链条。这里还坐拥北京最大单体智算集群，是全国首个获批的国家级人工智能先进制造业集群；截止去年12月，海淀累计已完成124款生成式人工智能服务备案，占全市备案大模型总量的66%。此外数据显示，约四成顶尖人工智能人才汇聚于北京，其中超八成扎根海淀，包括人工智能学者1.23万人、入选人工智能领域全球顶尖学者过百人次，已基本形成芯片、框架、大模型、集成应用在内的全产业链部署。早在2024年，海淀区就发布全球首个人工智能街区概念在中关村科学城南部53平方公里的范围内，集中打造“两区一带多点”格局，即五道口、大钟寺2个先导区，一条京张遗址公园创新交往带，以及北大西门、学院路、知春路若干创新片区。在这里，创业者与科学家为邻，上下楼即上下游。并且当智谱、寒武纪等企业崛起为行业标杆之后，反哺海淀AI生态成为他们共同的选择例如智谱发起的“Z计划”已投资数十家上下游企业，其中半数将研发中心设于海淀；寒武纪的芯片技术则为区域内AI企业提供底层支撑。摩尔线程创始人张建中也曾感慨，“在海淀，寻找上下游合作伙伴无需跨城，一小时车程内就能完成技术对接与客户验证。”正所谓“创投兴，则产业聚。”犹记得2025年2月，中关村科学城科技成长三期基金正式发布，规模100亿元。至此，科技成长基金总规模增至200亿元。“海淀是一个好的创业沃土、科研的沃土、投资的沃土，它有非常丰富的科研资源、高校和科研院所，可以持续不断地孵化出好的科技创新企业。”君联资本总裁李家庆彼时发言表示，海淀良好的营商环境，能为人才创造好的生活环境、教育环境和医疗环境，这有利于海淀留住高端的人才。还有一组数据值得关注去年11月，海淀区财政局发布显示：自2021年科技成长基金设立以来，已累计拨付58.87亿元，重点支持核心技术突出、具备发展潜力的人工智能企业，并带动社会资本出资188亿元，形成政府领投、社会跟投的良性循环。其中，直接投资航迹科技、智谱、宇树科技、爱笔智能、深势科技、生数科技、摩尔线程等23家人工智能企业22.18亿元；通过与九合创投、达晨财智、汉康资本、君联资本等机构合作，投向10只涵盖人工智能方向的子基金11.39亿元。回望40年前，海淀的“电子一条街”点燃了中国科技创新的星星之火；40年后，这片热土又孕育出中国AI的崭新篇章。这里最动人的从来不是高楼大厦，而是凌晨两点那一盏盏依然亮着的实验室灯光。无数个身影，正在缔造着“全球人工智能第一城”。","news_type":1,"symbols_score_info":{"02513":2}},"isVote":1,"tweetType":1,"viewCount":237,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":532281433077368,"gmtCreate":1770970608279,"gmtModify":1770970610919,"author":{"id":"3435615840878311","authorId":"3435615840878311","name":"暴涨暴赚","avatar":"https://static.tigerbbs.com/931ccc12171c6d287be9ae1be78c5f05","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3435615840878311","idStr":"3435615840878311"},"themes":[],"title":"","htmlText":"完了","listText":"完了","text":"完了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/532281433077368","repostId":"1116834326","repostType":2,"repost":{"id":"1116834326","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1770969832,"share":"https://www.laohu8.com/m/news/1116834326?lang=zh_CN&edition=full","pubTime":"2026-02-13 16:03","market":"sh","language":"zh","title":"市场监管总局印发《互联网平台反垄断合规指引》","url":"https://stock-news.laohu8.com/highlight/detail?id=1116834326","media":"老虎资讯综合","summary":"培育良好品牌形象和核心竞争优势。","content":"<html><head></head><body><p><strong>为支持和引导互联网平台经营者有效防范反垄断合规风险，促进平台经济创新和健康发展，《互联网平台反垄断合规指引》今天发布。</strong></p><p>互联网平台涉及平台经营者、平台内经营者、消费者和从业人员等多方主体。平台经营者能够通过平台规则、数据、算法、技术手段等影响平台竞争生态，一旦平台经营者从事排除、限制竞争行为，将会损害多方主体利益。执法实践显示，互联网平台具有独特的竞争特点和规律，在垄断行为类型、表现、损害等方面与传统领域存在一定差异，平台经济新业态新模式不断涌现，竞争行为纷繁复杂，平台经营者对识别垄断风险、明晰行为边界充满期待。制定《指引》是对反垄断合规制度规则的进一步细化，有利于回应平台经营者关切，支持、引导其精准识别、评估、防范垄断风险。</p><p style=\"text-align: justify;\">指引要求，平台经营者应遵循针对性、全面性、穿透性和持续性四大原则，开展反垄断合规管理工作，实现规则公平、算法向善、竞争合规，切实承担反垄断合规主体责任，健全反垄断合规制度，加强反垄断合规管理，依法竞争、合规经营，不得利用数据和算法、技术、资本优势、平台规则等从事《反垄断法》禁止的垄断行为。《指引》重点规定了垄断协议、滥用市场支配地位、经营者集中和滥用行政权力排除、限制竞争等4类垄断风险。为平台经营者划出清晰明确的“红线”。</p><p style=\"text-align: justify;\">《指引》将我国《反垄断法》的系列核心条款，转化为具体可识别的行为边界。根据平台经济行业特点、经营模式、竞争规律等，指引提出了8个场景中的新型垄断风险，包括：平台间算法共谋、组织帮助平台内经营者达成垄断协议、平台不公平高价、平台低于成本销售、封禁屏蔽、“二选一”行为、“全网最低价”、平台差别待遇，为平台经营者加强反垄断合规管理提供可操作性强的指导建议。 (央视新闻)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>市场监管总局印发《互联网平台反垄断合规指引》</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n市场监管总局印发《互联网平台反垄断合规指引》\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-02-13 16:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><strong>为支持和引导互联网平台经营者有效防范反垄断合规风险，促进平台经济创新和健康发展，《互联网平台反垄断合规指引》今天发布。</strong></p><p>互联网平台涉及平台经营者、平台内经营者、消费者和从业人员等多方主体。平台经营者能够通过平台规则、数据、算法、技术手段等影响平台竞争生态，一旦平台经营者从事排除、限制竞争行为，将会损害多方主体利益。执法实践显示，互联网平台具有独特的竞争特点和规律，在垄断行为类型、表现、损害等方面与传统领域存在一定差异，平台经济新业态新模式不断涌现，竞争行为纷繁复杂，平台经营者对识别垄断风险、明晰行为边界充满期待。制定《指引》是对反垄断合规制度规则的进一步细化，有利于回应平台经营者关切，支持、引导其精准识别、评估、防范垄断风险。</p><p style=\"text-align: justify;\">指引要求，平台经营者应遵循针对性、全面性、穿透性和持续性四大原则，开展反垄断合规管理工作，实现规则公平、算法向善、竞争合规，切实承担反垄断合规主体责任，健全反垄断合规制度，加强反垄断合规管理，依法竞争、合规经营，不得利用数据和算法、技术、资本优势、平台规则等从事《反垄断法》禁止的垄断行为。《指引》重点规定了垄断协议、滥用市场支配地位、经营者集中和滥用行政权力排除、限制竞争等4类垄断风险。为平台经营者划出清晰明确的“红线”。</p><p style=\"text-align: justify;\">《指引》将我国《反垄断法》的系列核心条款，转化为具体可识别的行为边界。根据平台经济行业特点、经营模式、竞争规律等，指引提出了8个场景中的新型垄断风险，包括：平台间算法共谋、组织帮助平台内经营者达成垄断协议、平台不公平高价、平台低于成本销售、封禁屏蔽、“二选一”行为、“全网最低价”、平台差别待遇，为平台经营者加强反垄断合规管理提供可操作性强的指导建议。 (央视新闻)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/99660c2bb468cee78b3ee90163758d58","relate_stocks":{"CWEB":"两倍做多沪深中国互联网股票ETF-Direxion","KWEB":"中国海外互联网ETF-KraneShares","HSTECH":"恒生科技指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116834326","content_text":"为支持和引导互联网平台经营者有效防范反垄断合规风险，促进平台经济创新和健康发展，《互联网平台反垄断合规指引》今天发布。互联网平台涉及平台经营者、平台内经营者、消费者和从业人员等多方主体。平台经营者能够通过平台规则、数据、算法、技术手段等影响平台竞争生态，一旦平台经营者从事排除、限制竞争行为，将会损害多方主体利益。执法实践显示，互联网平台具有独特的竞争特点和规律，在垄断行为类型、表现、损害等方面与传统领域存在一定差异，平台经济新业态新模式不断涌现，竞争行为纷繁复杂，平台经营者对识别垄断风险、明晰行为边界充满期待。制定《指引》是对反垄断合规制度规则的进一步细化，有利于回应平台经营者关切，支持、引导其精准识别、评估、防范垄断风险。指引要求，平台经营者应遵循针对性、全面性、穿透性和持续性四大原则，开展反垄断合规管理工作，实现规则公平、算法向善、竞争合规，切实承担反垄断合规主体责任，健全反垄断合规制度，加强反垄断合规管理，依法竞争、合规经营，不得利用数据和算法、技术、资本优势、平台规则等从事《反垄断法》禁止的垄断行为。《指引》重点规定了垄断协议、滥用市场支配地位、经营者集中和滥用行政权力排除、限制竞争等4类垄断风险。为平台经营者划出清晰明确的“红线”。《指引》将我国《反垄断法》的系列核心条款，转化为具体可识别的行为边界。根据平台经济行业特点、经营模式、竞争规律等，指引提出了8个场景中的新型垄断风险，包括：平台间算法共谋、组织帮助平台内经营者达成垄断协议、平台不公平高价、平台低于成本销售、封禁屏蔽、“二选一”行为、“全网最低价”、平台差别待遇，为平台经营者加强反垄断合规管理提供可操作性强的指导建议。 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