Investors may consider simplifying their approach and attempting to construct a portfolio that is sufficiently diversified across asset classes and regions. This can be achieved through strategies such as segmented investing and core-satellite portfolios, aiming for stable returns.

Bank of China Cinda Asset Management: Relatively cautious view on the US stock market, recommends diversified investment to cope with macro uncertainties.

野村预计阿里中国电商收入同比增长 8%，超过市场预期 5% 的增速，也为过去连续六个季度以来的首次正增长。二季度淘宝争夺拼多多用户的举措已取得初步成果，但后续能否留住、如何留住新用户还有待观察。

前瞻 | 阿里业绩可能全面超预期！中国电商收入增速有望重回正增长

金十数据 7 月 7 日讯，知名百亿量化私募启林投资创始合伙人、投资总监王鸿勇在第八届中国 FOF&MOM 基金管理人年会上表示，当前，AI 在金融领域最重要的应用就是量化投资。量化投资本质上是信息系统、模型系统、决策系统的有机结合，是从市场选取因子、不断优化投资模型到决策的过程，在这个过程中，AI 可以帮助管理人不断优化上述环节。基于当前 AI 不断渗透进入量化投资的现状，在 “ChatGPT 是否会取代最化投资” 这一问题上，王鸿勇表态，当前 ChatGPT 取代量化投资仍存在很大难度。当前金融市场是一个低信噪比和非稳态的市场。

启林投资创始合伙人王鸿勇：ChatGPT 取代量化投资仍存在一定难度

热门中概股美股盘前上涨，百度涨 1.38%，京东、哔哩哔哩涨近 1%。

华尔街见闻 7 月 7 日获悉，在 2023 世界人工智能大会上，百度集团副总裁袁佛玉表示，大模型正在进入产业爆发期。为此，百度 IT 技术栈已经从原来的三层架构（芯片、操作系统和应用）变成了四层架构（芯片、框架、模型和应用），让文心大模型实现了快速迭代和进化。此外，百度在大模型平台服务等方面也做足技术准备。

百度袁佛玉：大模型发展的下一个前沿是突破人类极限

金十数据 7 月 7 日讯，上海世界人工智能大会上，阿里云 CTO 周靖人在演讲中表示：“阿里云将把促进中国大模型生态的繁荣作为首要目标，向大模型创业公司提供全方位的服务，包括最强大的智能算力和开发工具，并在资金和商业化探索方面提供充分支持。阿里云魔搭社区现已聚集 180 万 AI 开发者和由 20 多家顶尖人工智能机构贡献的 900 多个优质 AI 模型，找大模型上魔搭，我们将努力把魔搭社区培育成中国最大的 ‘大模型自由市场’。”

阿里云推出大模型助手魔搭 GPT，可一键调用所有大模型 

Domodaran pointed out that Nvidia is essentially a hardware company and faces inherent limitations when selling chips to other companies. Other members of the "trillion-dollar club" have a wider range of products and several ways to make money.

After holding it for five years, what did the "valuation master" see when he sold NVIDIA?

Tesla plans to showcase a humanoid robot called "Optimus Prime" in its stores to increase foot traffic and customer engagement. It will first be tested in the Chinese market.

Tesla stores may start selling cars with robots? Maybe not what you think.

China's Alibaba unveils AI image generator to take on Midjourney and DALL-E

丹斯克银行前瞻美国 6 月非农：预计 6 月非农就业数据将录得 18 万，如果我们确实看到工资通胀进一步降温的迹象，且 7 月 12 日公布的核心 CPI 录得下降，我们认为美联储最终可能会在下次会议上保持利率不变。

2023 世界人工智能大会，在接受记者采访时，京东集团副总裁、探索研究院院长何晓冬表示，目前训练时间在两个月左右的基础通用大模型，成本估计在几千万元，对大模型的商业前景和落地场景很有信心。他建议，创业公司入局大模型应该找到属于自己的 “护城河”，面对目前的 “百模大战” 现状，何晓冬认为，对于市场而言，有压力和竞争是好事，将有效促进行业发展。

京东何晓冬：大模型训练两个月成本预计在几千万人民币，对商业前景很有信心

交银国际认为，虽然 G6 定价策略和产品力是成功的，但其销售可能不及预期，稳态月销量可能只在 5-6 千辆水平，主要由于市场竞争激烈及特斯拉潜在降价的影响。

一度跌超 5%！小鹏汽车评级遭下调至 “沽出”，G6 月销量预计无法过万

During the 2023 World Artificial Intelligence Conference (WAIC), Tencent Cloud announced the upgrade of its MaaS platform, applying industry-scale models to new scenarios such as financial risk control, simultaneous interpretation, and intelligent customer service. Among them, the newly unveiled large-scale model for financial risk control has achieved a 10-fold increase in efficiency compared to traditional risk control. (jl/u)

Tencent Cloud's MaaS platform upgraded again, unveiling the first large-scale financial risk control model.

2023 世界人工智能大会期间，阿里云宣布推出通义大模型家族新成员通义万相。据介绍，这是一款进化中的 AI 绘画模型，支持文生图等功能。目前，通义万相已经上线，并正式面向公众展开邀测。

阿里云宣布推出通义万相 AI 绘画大模型

野村：预计阿里巴巴首财季业绩表现将好于市场预期，重申买入评级。

OpenAI 当地时间 6 日宣布，其最新的大型语言模型 GPT-4 将通过其 API 正式开放使用。目前，所有 OpenAI 的 API 付费用户都可以访问拥有 8K 上下文记忆的 GPT-4。并且该公司计划在本月底向新的开发人员开放 API 访问权限，然后通过算力可用性来调整可用限制。这意味着全球开发者都能使用 GPT-4 大型语言模型，来增强自己的应用程序或开发全新的生成式 AI 应用。

OpenAI 宣布：GPT-4 将正式开放使用 本月底向新的开发人员开放 API 访问权限

据市场消息，华润旗下瓶装水子公司华润怡宝计划赴港上市，或将募资约 10 亿美元。消息指，华润怡宝正在与美国银行、中银国际、中信证券、瑞银合作，最快年内上市。数据显示，在瓶装水市场上，华润怡宝市占率为 21.3%，仅次于农夫山泉。

华润怡宝最快年内赴港 IPO 或将募资约 10 亿美元

据 36 氪，2023 世界人工智能大会战略合作伙伴商汤科技召开 “大爱无疆·日日新” 人工智能论坛，重磅推出 “商汤日日新 SenseNova” 大模型体系的多方位全面升级，以及在该体系下的一系列大模型产品更新和落地成果。据介绍，商汤商量 SenseChat 2.0 版本突破了大语言模型输入长度的限制，并推出不同参数量级的模型版本，可完美适配移动端、云端等不同终端及场景的应用需求，降低部署成本。

“商汤日日新” 大模型体系全面升级

Chinese authorities are likely to announce a fine of at least 8 billion yuan ($1.1 billion) on Ant Group as soon as Friday, sources with direct knowledge of the matter said, bringing an end to the fintech company's years-long regulatory overhaul.

China to end Ant Group's regulatory revamp with fine of at least $1.1 billion

阿里巴巴港股持续冲高，一度涨超 6%，现涨 5.15%。路透社报道称，中国大陆监管机构最快今日宣布对蚂蚁集团的罚款，罚款金额可能至少 80 亿元人民币（约 11 亿美元）。

路透 7 月 7 日 - 彭博新闻周五援引知情消息人士的话报导，电动汽车制造商特斯拉正在其上海工厂裁撤部分电池生产岗位员工。

特斯拉开始在中国工厂裁撤部分电池生产岗位员工 -- 彭博新闻

阿里巴巴港股午后极速拉升，一度涨近 6%。

金十数据 7 月 7 日讯，蒙古国批准马斯克旗下的星链（Starlink）提供高速互联网服务。蒙古国的通信监管委员会周四批准了两项特别许可，允许星链使用低轨道卫星提供服务。此前，马斯克和蒙古国总理奥云额尔登召开了视频电话会议，其中还谈论了供应电动汽车电池材料问题。“光缆网络已经在蒙古国各地提供广泛的高速互联网接入，但这项技术将给国内难以到达地区提供更好的接入服务，” 蒙古国数字发展和通信部长 UchralNyam—Osor 在声明中说。

马斯克旗下 “星链” 将为蒙古国提供高速互联网服务

高盛称，未来几个月，美国股市可能因潜在的经济衰退而遭受超 20% 的跌幅。

美股可能下跌！华尔街巨头正陆续发布风险警告

一张图看懂激发美联储加息预期的美国 “小非农” 数据

市场乃至中美双方官员几乎都预计耶伦此行不会有关于中美关系的重大突破，原因或是 “耶伦不在其位，无法修补关系，也不能回应中国撤销出口管制或关税的要求”。

耶伦访华，港股跌了！市场不相信 “经济外交”？预期为何这么低？

摩根士丹利将微软目标价从 335 美元上调至 415 美元，较收盘周四收盘价 341.27 美元有约 21.6% 的上升空间。该行表示，微软在企业软件领域处于最佳位置，生成式人工智能有望大幅扩大可由软件自动完成的业务流程的范围。该行认为，Azure 和 OpenAI 服务代表了一个引人注目的平台，为那些希望建立和应用更广泛的基于生成性人工智能功能组合的公司提供了范本。

大摩：上调微软目标价至 415 美元 在企业软件领域处于最佳位置

市场消息：越南电动车制造商 VinFast 计划在第三季度在纳斯达克上市。

亚太主要股市全线下跌，日经 225 指数跌 0.27% 报 32684.5 点；韩国综指跌 1.24% 报 2524.57 点；澳洲标普 200 指数跌 1.41% 报 7062.7 点；新西兰 NZX50 指数跌 0.42% 报 11908.74 点。

亚太主要股市全线下跌

Bank of America stock indicators predict that the S&P 500 index will rise by 16% in the next 12 months.

Is the US stock market rally not over? Bank of America indicator: S&P 500 index expected to rise 16% in the next year.

According to analysts at Morgan Stanley, they believe that Microsoft's current valuation is still reasonable. Generative AI will significantly expand the scope of automated software businesses, and Microsoft is in the most advantageous position in the software field. They expect Microsoft's stock to rise another 20% in the next year.

On the day when US stocks fell across the board, why didn't Microsoft decline?

盘面上，猪肉、农业板块等走强，教育、短视频、无人驾驶等概念走弱，互联网医疗、体育用品领跌。

恒指跌超 1% 恒生科技跌超 2% 科技股、新能源车走低 百度、京东跌超 2%

经中美双方商定，美财政部部长耶伦于 7 月 6 日至 9 日访华，这是落实中美元首巴厘岛会晤重要共识，加强两国财金领域沟通交流的具体举措。中美经贸关系的本质是互利共赢，贸易战、“脱钩断链” 没有赢家。我们希望美方以实际行动为两国经贸关系健康发展、实现互利共赢创造良好环境。

中国财政部相关负责人就美财政部部长耶伦访华答媒体询问

June layoffs slowed down, labor hoarding phenomenon persists, tonight's non-farm payroll may face another "scare".

Why is high interest rate still unable to suppress employment? Will the Federal Reserve take tough measures? It all depends on tonight's non-farm payroll report.

The correlation indicator between the 10-year US Treasury yield and the S&P 500 index turned negative for the first time in three months, indicating that both US bonds and stocks are being sold off simultaneously. The selling frenzy of 2022 seems to be repeating itself.

Once again, "stocks and bonds plummet," expectations of interest rate hikes in the US surge, will 2022 repeat itself?

货币专家、“泰勒规则” 的创始人、斯坦福大学教授约翰·泰勒在 7 月 6 日周四表示，美联储需要进一步提高利率，以控制过高的通胀率。他认为，如果美国回到 2% 的通胀，经济将会更加健康。

泰勒规则创始人：美联储还需要再加息

中信证券认为，ChatGPT 用户流量下滑主要源于个人用户新鲜感降低，大语言模型目前在 ToC 端盈利场景仍需持续探索，ToB 料将是产业中短期发力的重点。

中信证券：如何看待 ChatGPT 近期热度持续回落？

中国外交学院教授李海东表示，中方始终希望中美之间能够及时相向而行，止跌企稳，但从美方目前的表现看，距离中方的期望还有很长距离。

世界密集关注耶伦访华！

更具创造性、更长文本限制的 GPT-4，7 月底前将向所有付费 API 用户全面开放。GPT-4 和 GPT-3.5 Turbo 今年晚些时候将开放微调。

重磅！GPT-4 API，全面开放使用！

DoorDash、优食和 Grubhub 周四起诉纽约市，要求阻止一项为外卖员设定最低工资的新法律，使这些应用程序与纽约市之间关于如何监管该行业的斗争升级。纽约市最近通过了一项法律，为应用程序背后的外卖员设定了新的工资标准。

DoorDash、优食和 Grubhub 就外卖员最低工资法起诉纽约市

Strong US June ADP employment figures have sparked traders' bets on further tightening by the Federal Reserve.

The US economy remains overheated, triggering bets on interest rate hikes and putting Wall Street traders in a predicament.

据报道，谷歌为其 Pixel 智能手机独立开发芯片。但到目前为止，事情进展并不顺利。按原计划，谷歌将在 2024 年使用这款芯片替代 Tensor G3。Tensor G3 由谷歌和三星共同设计。知情人士称，谷歌该计划至少被推迟一年。明年，谷歌将继续与三星合作，直至 2025 年才会推出这款完全独立定制的芯片，内部代号为 “Laguna”（Tensor G5）。届时，谷歌将这款芯片的代工制造任务转交给台积电。

消息称谷歌独立定制的 Pixel 手机芯片推迟一年，改由台积电代工

Leqembi is the first Alzheimer's antibody therapy to receive full FDA approval, and it is also the first of its kind expected to have broad coverage through medical insurance. Insurance coverage is a crucial step in helping elderly Americans with early-stage Alzheimer's disease afford treatment costs. Leqembi is priced at $26,500 per year, and without medical insurance, most patients are unable to afford this expensive medication.

The US FDA has approved the Alzheimer's drug Leqembi, which is expected to become the first of its kind to be covered by medical insurance.

“小非农” 就业增幅是华尔街预期的两倍多。三大美股指两连跌至一周低位，能源板块跌超 2% 领跌，小盘、芯片、AI、中概股跑输大盘，蔚来跌超 6%，拼多多跌超 5%。就业数据公布后，两年期美债收益率创 2007 年来新高，美元指数一度转涨并创两周新高。英镑创两周新高，英债收益率创 2008 年来新高。比特币创逾一年新高后一度回落上千美元。原油 V 形反弹，美油盘中跌超 2% 后抹平跌幅。黄金创三个多月新低。

“小非农” 就业引爆激进加息预期，美股再跌，中概指数跌 3%，美债跳水

WISE LIVING TEC announced that the offering price has been set at HKD 3.60 per share. Based on this offering price, after deducting underwriting fees, commissions, and estimated expenses for the global offering, the company is expected to receive a net proceeds of approximately HKD 187.5 million. As there is no oversubscription of international offering shares, the oversubscription rights will not be exercised, and the company is not expected to receive any additional proceeds. The preliminary offering of Hong Kong offering shares under the public offering in Hong Kong has received moderate oversubscription. A total of 1,373 valid applications were received, subscribing for a total of 11.619 million shares of Hong Kong offering shares, equivalent to approximately 1.54 times the total number of 7.56 million Hong Kong offering shares available for subscription under the preliminary offering of the public offering in Hong Kong. As the oversubscription of the public offering in Hong Kong is less than 15 times the total number of Hong Kong offering shares available for subscription under the preliminary offering, no reallocation procedure has been conducted. The final number of offering shares under the public offering in Hong Kong is 7.56 million shares, accounting for 10% of the total number of Hong Kong offering shares available for subscription under the preliminary offering of the global offering, and has been allocated to 1,373 successful applicants under the public offering in Hong Kong. The preliminary offering of offering shares under the international offering has received a slight oversubscription, equivalent to approximately 1.35 times the total number of offering shares available for subscription under the preliminary offering of the international offering.

WISE LIVING TEC's Hong Kong public offering and international offering were both moderately oversubscribed, with a per-share price of HKD 3.6.

The U.S. Securities and Exchange Commission (SEC) is set to vote on this new regulation next week, which mainly includes enhancing the liquidity of money market funds and implementing swing pricing requirements. Critics argue that this could increase the cost of funds and reduce their attractiveness.

Affecting a $5.5 trillion market, the US SEC will introduce new regulations for money market funds.

Threads has attracted over 5 million registered users within four hours of being launched on the App Store. Currently, it closely resembles Twitter and does not yet have the functionality to send direct messages or tag topics. There are no paid advertisements, but many brands have already joined.

Twitter's formidable rival is gaining momentum! Meta's Threads platform has attracted over 30 million registrations within 16 hours.

Before the emergence of ChatGPT at the end of last year, the market once believed that the US technology industry would enter a long-term downturn. However, AI technology unexpectedly became a lifeline for the technology industry. Not only did the stock prices of tech giants soar, but the primary market, which had been quiet for a long time, also became active, with numerous AI startups emerging.