格隆汇4月2日｜香港恒生指数延续下跌，向下跌破25000点关口，跌幅扩大至1.23%。

Luis Alvarez The Trump administration plans to impose tariffs on pharmaceutical companies that haven't agreed to lower U.S. drug prices, with an announcement expected as soon as Thursday, Bloomberg reported, citing people familiar with the matter. The president had earlier threatened to impose tariffs ranging from 100% to 200% on the pharmaceutical industry as part of a broader push to bring drug manufacturing back to the U.S. and lower prices for American patients.The proposed tariffs stem from an investigation under Section 232 of the Trade Expansion Act, which permits trade restrictions based on national security concerns. The companies that have neither entered into agreements nor are actively negotiating with the administration could face tariffs of up to 100%, the people added. The plans aren’t yet final and could still change, and there could also be exemptions for some medicines and disease categories, the report added . Major drugmaker companies that already struck pricing deals and agreed to lower U.S. drug prices or invest locally are Pfizer ( PFE ), AstraZeneca ( AZN ), Eli Lilly ( LLY ), Novo Nordisk ( NVO ), Bristol Myers Squibb ( BMY ), GSK ( GSK ), Sanofi ( SNY ), and Novartis ( NVS ), among others. Pharma and healthcare ETFs: SPDR S&P Pharmaceuticals ETF ( XPH ), iShares U.S. Pharmaceuticals ETF ( IHE ), and VanEck Pharmaceutical ETF ( PPH ), iShares Biotechnology ETF ( IBB ), SPDR S&P Biotech ETF ( XBI ), Health Care Select Sector SPDR Fund ( XLV ), Vanguard Health Care ETF ( VHT ). Dear readers : We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on pharmas How Reserve Management Purchases Have Eased Money Market Rates Implications From Japan's March Rate Decision I'm Not Buying Tuesday's 'Hopium' Rally SA analyst flags rising risks as stocks climb on Iran optimism Healthcare among laggards in Q1; MRNA and DVA lead gainers while HUM drags

港股回吐超過200點，跌至兩萬五邊緣。 市場觀望美伊戰事發展，加上長假期將至，大市連彈兩日後有回吐。恒指低開39點後跌幅擴大，跌至兩萬五邊緣，再次失守250天線。中午收報25,017點，下跌276點，成交1,161億元。 輝立證券董事黃瑋傑說︰「市場本來憧憬美伊很快結束戰事，但今早在本港時間上午特朗普在美國發表全民全國講話，又令到對於美伊戰爭結束預期出現變數，所以股市再度回軟。如果250天線、甚至25,000點，再次失守的話，下方支持位看24,500點至24,700點。」 阿里巴巴和美團下跌百分之3。晶片股有沽壓，中芯國際和華虹半導體下跌百分之4至5。 汽車股個別發展，比亞迪上月出口上升，但總銷量按年下跌，股價跌百分之2。獲大行調目標價的吉利，逆市上升百分之6。 期油價格在亞洲市反彈，中石油上升百分之1。 昨日急升的日本和南韓股市，回吐百分之2至4。

港股回吐超過200點，跌至兩萬五邊緣。 市場觀望美伊戰事發展，加上長假期將至，大市連彈兩日後有回吐。恒指低開39點後跌幅擴大，跌至兩萬五邊緣，再次失守250天線。中午收報25,017點，下跌276點，成交1,161億元。 輝立證券董事黃瑋傑說︰「市場本來憧憬美伊很快結束戰事，但今早在本港時間上午特朗普在美國發表全民全國講話，又令到對於美伊戰爭結束預期出現變數，所以股市再度回軟。如果250天線、甚至25,000點，再次失守的話，下方支持位看24,500點至24,700點。」 阿里巴巴和美團下跌百分之3。晶片股有沽壓，中芯國際和華虹半導體下跌百分之4至5。 汽車股個別發展，比亞迪上月出口上升，但總銷量按年下跌，股價跌百分之2。獲大行調目標價的吉利，逆市上升百分之6。 期油價格在亞洲市反彈，中石油上升百分之1。 昨日急升的日本和南韓股市，回吐百分之2至4。

上证50股指期货(IH)主力合约日内跌超1%，现报2827.8点。沪深300股指期货(IF)主力合约日内跌超1%，现报4399.0点。

美國總統特朗普發表全國講話，重申對伊朗軍事行動成功，目標已接近完成，未來兩、三周將重擊伊朗。伊朗否認要求停火，最高領袖穆傑塔巴稱，將繼續封鎖霍爾木茲海峽作為反制手段。 美國總統特朗普在本港時間，周四早上九時發表全國講話，他重申過去四星期對伊朗軍事行動的成功，表示將很快完成主要戰略目標。 美國總統特朗普說：「在過去的四周，美軍完成了迅速而果斷的行動，取得壓倒性的勝利，過去少有人看到這樣的勝利。伊朗的海軍已經消失，他們的空軍已經土崩瓦解了，今晚，我很高興地說，這些核心戰略目標已接近完成。」 特朗普又預告，未來兩三個星期將重擊伊朗，強調不允許伊朗發展核武。 特朗普稱：「我們將重重打擊他們，在接下來的兩到三個星期，我們會將他們帶回去屬於他們的石器時代。」 特朗普發表講話前，又在社交平台發帖文稱，伊朗新政權的總統向美國請求停火。不過伊朗外交部否認，指特朗普的講法是虛假且毫無根據。 伊朗總統佩澤希齊揚發表致美國民眾的公開信，表示伊朗對普通美國人並無敵意，將伊朗視作威脅不符合事實，與伊朗的戰爭亦不符合美國利益。伊朗最高領袖辦公室發布最高領袖穆傑塔巴的講話內容，重申繼續將封鎖霍爾木茲海峽作為反制手段。 特朗普在全國講話中，亦提到霍爾木茲海峽問題，稱美國幾乎不需要通過霍爾木茲海峽進口石油，那些需要通過霍爾木茲海峽獲取石油的國家，必須自己負責維護這條通道，又稱當伊朗戰事結束時，海峽自然會開放。 英國《金融時報》則引述消息人士報道，特朗普曾威脅歐洲盟友，若不加入他發起的聯盟，協助重新開放霍爾木茲海峽，將停止向烏克蘭提供武器。 伊朗繼續受到空襲，首都德黑蘭一幢住宅大樓倒塌，救援人員在瓦礫中搜尋失蹤者。伊朗當局表示，自戰事爆發以來，當地有超過1,900人喪生。

If new claimants don’t meet strict criteria, they’ll lose half of the health element of universal credit. Don’t ignore that: in life’s lottery, that could easily be you Look at the front pages or open a news app in the coming days and you’ll supposedly see the big events facing Britain. But here’s one that is likely to slip quietly under the radar: from next week, almost three-quarters of a million of the most severely ill and disabled people in the country could end up having a lifeline benefit cut in half . Cast your mind back to last summer. As the nation sweated through a heatwave and Oasis reunited , ministers were trying to push through “welfare reform” – a nice euphemism for £5bn worth of cuts to disability benefits. A backbench rebellion meant that Keir Starmer was forced to halt his overhaul of personal independence payments (Pip), but MPs voted through a brutal universal credit cut. Ministers justified reducing support for people too disabled or ill to work by arguing it would remove the “perverse incentives” that discourage employment and trap people on long-term benefits , as if a twentysomething who is bedbound with ME just needs “incentivising” to get back to the building site. Frances Ryan is a Guardian columnist and the author of Who Wants Normal? Life Lessons from Disabled Women Continue reading...

Cannelloni made with sheets of fresh egg pasta are a treat, especially on a feast day, and they can be made the day before Fresh sheets smelling of fresh air or fabric softener (or both) with hospital corners are one of life’s great pleasures. As are fresh sheets of egg pasta – the sort that comes in squat boxes protected by clingfilm and found in the fridge section alongside ravioli. They are also one of the most useful and certainly the most multi-talented of all the pasta shapes . That they are labelled lasagne is limiting; of course, they can be lasagne, but they could just as easily be numerous other shapes. The most easy-going of which is maltagliati , meaning badly cut, which tells you everything you need to know about the approach required as you cut them (using a knife, pizza wheel or pair of scissors) into uneven bits that are ideal in all sorts of soups, but especially those with beans. With slightly more precision, the sheets can be turned into 1cm-wide ribbons (short tagliatelle, if you like) for meat or vegetable ragu. Similar ribbons, made with a fluted pasta cutting wheel, can be ma falde , while thicker ribbons create a sort of ersatz pappardelle. All ribbons, though, can be cut into quadrucci (little squares) – another shape ideal for soup. Larger squares can be mandilli de sea (silk handkerchiefs), which are great dressed with pesto. If the pasta is fresh enough, rectangles can also be pinched into farfalle (butterflies), although I think bow ties is a better description. Continue reading...

The Barents Sea might seem too far away to affect our weather – but research shows it does The Barents Sea, located off the northern coasts of Norway and Russia, might seem too far away to have an impact on our weather. But new research shows that ice loss on the sea is increasing the frequency of concurrent summer heatwaves across Europe and eastern Asia. Jilan Jiang from the Chinese Academy of Meteorological Sciences in Bejing, and colleagues, studied ice data and global weather patterns going back to 1979. The researchers discovered a link between stronger spring and summer ice loss over the Barents Sea since 2000 and dual heatwaves over Europe and eastern Asia. Continue reading...

Which? testers complain M&S sponge is ‘too dry’ as Waitrose’s Cecil tops the tree with ‘best buy’ gong After a busy 35 years as a British party favourite, not to mention a bruising court battle with an alleged copycat , you might think Colin the Caterpillar had earned his place at the top. But the “original” chocolate caterpillar cake has now been labelled the worst, bested by lookalikes in a taste test. Cecil (Waitrose): 78%, £9.50, 744g, 38.6g, 17g. Charlie (Co-op): 73%, £9.85, 702g, 46g, 14g; Sainsbury’s Wiggles: 73%, £8.50, 613g, 41.9g, 18.7g. Cuthbert (Aldi): 72%, £6.99, 624g, 43.5g, 17.7g. Morris (Morrisons): 72%, £9, 630g, 38.4g, 16g. Letty (Asda): 68%, £9, 613g, 45g, 14g. Lewis & Green’s caterpillar celebration cake: 67%, £4.50, 530g, 45g, 20.2g. Slinky (Tesco): 66%, £9, 648g, 42g, 17g. Colin (M&S): 64%, £9.50, 625g, 46.3g, 21.3g. Continue reading...

Former Labour mayor Jamie Driscoll aims to win central Newcastle ward after defecting to the Green party “Thank you very much to all you would-be penguins huddling together for warmth,” said Jamie Driscoll to the dozen supporters braving bitingly cold, blustery weather to begin knocking on doors and delivering leaflets. The former Labour North of Tyne mayor is one of the Green party’s highest-profile recruits. Standing for Newcastle city council in the central Monument ward, he was giving a pep talk to a group that would probably have been even bigger, were some not in London for a demonstration against the far right. Continue reading...

The party, whose parliamentary leader is Jeremy Corbyn, will back 250 candidates, focusing on urban areas Your Party is to focus its local election efforts on a number of urban areas with large Muslim populations where Labour support has weakened, throwing its support behind supporting independent candidates and community groups. Party insiders have intentionally narrowed their focus to key targets including the London boroughs of Tower Hamlets, Newham and Redbridge, where locally rooted independent campaigns are already braced to challenge Labour. Continue reading...

Details about compensation for personal injury awarded to UK school staff revealed by NASUWT A teacher who became ill from a rat infestation and another who was injured after a pupil threw a toaster and chair are among UK school staff who received a share of £15m paid out in compensation. The details were revealed by the NASUWT union ahead of its annual conference in Birmingham later this week, and relate to successful claims for unfair dismissal, redundancy, discrimination, personal injury and health and safety. Continue reading...

Test yourself on topical news trivia, pop culture and general knowledge every Thursday. How will you fare? It is time for the Thursday news quiz, where, thanks to our illustration from Anaïs Mims , you must decide whether you are gliding serenely across the waters of knowledge, your elegant neck forming a perfect question mark, or paddling furiously beneath the surface, one wrong answer away from an undignified flap. Fifteen questions on topical headlines, pop culture and general knowledge await. There are no prizes, but we always enjoy hearing how you got on in the comments. Allons-y! The Thursday news quiz, No 241 Continue reading...

Oil crisis triggered by blockade of strait of Hormuz prompts emergency measures to protect supply and halt rising prices Shrinking fuel stocks and soaring prices are leading countries around the world to burn coal, ration fuel, shorten work weeks and tell citizens to stay at home. Fossil fuel supplies have reduced since the war against Iran led to the closure of the strait of Hormuz, a crucial shipping route for oil and seaborne gas. The shortfall has prompted emergency measures as government’s attempt to halt rising costs that have thrown economies into chaos. Continue reading...

你有没有发现，最近几年，老外们像是在经历一场“中式血脉”的集体觉醒。 先是组团来中国旅游，把“China Travel”刷成TikTok流量密码；接着又掀起跨境医疗热，跑到中国看病、体检、甚至做手术。 而如今，这股“薅社会主义羊毛”的风，也是刮到了AI圈。 全球AI模型聚合平台OpenRouter显示，今年2月中旬开始，中国模型的调用量已超过美国，美国用户占比高达47%，越来越多的海外开发者开始批量调用中国大模型的API。 没办法，谁叫咱中国的模型“物美价廉”呢。跑同样的任务，用美国模型可能要5美元，用中国模型只要0.3美元。账单直接“打骨折”，这谁看了不心动？ 乍一听，这好像是个打价格战的故事，但实则往深了想，国产模型打“价格战”的底气从哪儿来？归根结底，是电力在撑腰。 这让我想起了最近，老黄在个人博客发表的一篇长文《AI is a Five Layer Cake》。 文中提出了AI产业的 「五层蛋糕」 模型，将AI拆成了能源、芯片、基础设施、模型、应用，五个层面，并反复强调： 每个成功的应用，都会向下拉动它下面所有层，一直延伸到维持它运转的发电厂。 照老黄所说，咱们现在只吃上了AI“五层蛋糕”的第一口。未来，AI不再仅仅是一款应用或一个模型，而是会像互联网一样，成为现代社会不可或缺的基础设施。 到那个时候，AI对电力的需求，可能会“无穷无尽”。 01 AI的胃口变大了 过去两年，我们习惯了用AI聊天、写文案、画图。但今年年初，一个叫OpenClaw的开源工具让局面彻底变了。 OpenClaw能够7×24小时地运转，而且TA不局限于聊天，更能自己操纵电脑、点鼠标、填表格，直接让你解放双手！ 当然，这么能干的AI Agent，“工资”自然低不了，如果仅仅是对话，一次交互消耗的Token量可能只是几百个，但要完成一次特定任务，从执行到交付的整个过程，能够消耗几十万甚至上百万个 Token。 网上有人开玩笑说：“养一只AI龙虾，比养一个研究生还贵。” 虽然是段子，但道出了一个现实： 当AI开始“干活”，TA的能耗曲线陡峭得吓人。 OpenAI最近发布的数据也印证了这一点：在某些 Agent任务上，GPT-5.4的Token消耗比前代少了47%。 为什么要拼命降消耗？因为应用层的成本压力已经实实在在地传导到了模型层，模型层必须想办法用更高的架构、更便宜的推理来回应。而模型...

In this article STLA Follow your favorite stocks CREATE FREE ACCOUNT An electric vehicle (EV) is left to charge at a charging station in Tehran on February 23, 2026. Atta Kenare | Afp | Getty Images The sprawling Middle East crisis is expected to spur drivers to abandon traditional internal combustion engine vehicles in favor of EVs, analysts told CNBC, although early evidence suggests this will be a gradual gearshift. The Iran war has severely disrupted oil exports through the strategically vital Strait of Hormuz, which typically carries about a fifth of the world's oil and liquified natural gas (LNG). It has underlined the extent to which the world remains deeply reliant on fragile fossil fuel trade routes, while surging oil and gas prices have jolted energy markets and triggered widespread inflation fears . Various car-selling platforms in the U.S. and Europe have reported a sharp increase in consumer interest for EVs since the war began in late February. The burgeoning trend comes even as a large chunk of the legacy car industry pivots back to internal combustion engine (ICE) vehicles. Autotrader, an online vehicles marketplace, reported on March 26 a 28% jump in inquiries about buying a new EV and a 15% increase in inquiries about buying a used one, since the war in Iran started on Feb. 28. EV specialist Octopus Electric Vehicles said on March 25 it had seen EV leasing inquiries rise 36% since the start of the conflict. But U.S. automakers Ford Motor , General Motors and Jeep owner Stellantis have all reversed course on EV strategies , booking tens of billions of dollars in combined write-offs and restructuring costs, in part due to lackluster consumer demand and shifting political landscapes. It is indeed quite frustrating how we again talk about EVs as if we didn't know that this is the structural measure to wean our transport system off oil. Julia Poliscanova senior director for vehicles and e-mobility supply chains at Transport & Environment Steffen Michuls...

Pharming Group today announced filing of its 2025 Annual Report and Annual Report on Form 20-F, available at annualreport.pharming.com.

US naphtha exports are surging as the Iran war cuts off supplies from the Mideast, prompting buyers in Japan to turn to Texas and Louisiana for the petrochemical feedstock. The US exported about 15 million barrels of naphtha in March — the most ever for a single month, according to the analytics firm Kpler. Another firm, Vortexa, estimated the US exported 11.5 million barrels last month, which would be the most in four years. The boom in American naphtha sales, which gained steam as the US started shipping more to Venezuela following the capture of former President Nicolás Maduro , underscores how President Donald Trump’s military actions have upended global trade flows. The disruption has created challenges in Asia and opportunity for the US oil industry. “The US is becoming a more and more important player,” said Jorge Molinero, who tracks naphtha flows at Sparta Commodities. The US has only been a net exporter of naphtha for less than a decade. But booming production in the shale fields of West Texas and New Mexico that produce a light, sweet crude ideal for producing naphtha has allowed the US to begin supplying the world. The jump in US exports is set to continue into April, and May totals are already ticking up, Molinero said. Japan desperately needs more naphtha, which it uses to make everything from plastic bottles to electrical appliances. Multiple Japanese petrochemical firms have announced production cuts as Iran has essentially blocks the Strait of Hormuz, through which more a third of global seaborne supplies of naphtha flow. Japan typically relies on imports for 60% of its naphtha, with the majority coming from the Mideast. As Japan’s imports from Qatar and the United Arab Emirates fell sharply last month, the US became its leading supplier, sending an average of 61,000 barrels a day, according to Kpler. It’s the most the US has sent to Japan since December 2021. Also See: A 12,000-Mile Journey Shows the World’s Scramble for Diesel Naphtha futures, mea...

4月2日，大众汽车（中国）、大众汽车（安徽）数字化销售服务有限公司与一汽-大众签署经销商网络战略合作备忘录。双方将在一汽-大众部分经销商推出“店中店”模式，展示和销售大众汽车（安徽）最新的新能源车型，与众08将成为双方合作的首款车型。ID.与众品类的另一款车长5米的轿车将于今年下半年上市并开展类似合作。（界面新闻）

3月的最后几天，字节跳动旗下的豆包App悄然上线了一个内测功能：用户只需在对话框里说一句话，就能完成从商品推荐到下单支付的全部流程，全程无需跳转抖音。几乎同一时间，阿里千问的用户发现，给手机充话费已经不用打开支付宝，对着AI说一句“帮我充50”就行。 这听起来像是一次寻常的功能迭代。但如果你把这个画面拉远一点，会看到一幅更具冲击力的图景： 就在一个月前，开源智能体框架OpenClaw（被网友戏称为“小龙虾”）席卷全球，证明了AI可以真正替人“干活”；春节假期， 互联网大厂累计砸下超80亿元，用红包和免单给全国人民做了一次AI普及实验； 而此刻，豆包、千问、元宝们正在疯狂“逃离聊天框”，试图把自己从一个只会聊天的工具，变成一个能办事的智能体。 大模型行业正由第一阶段的技术突围与参数比拼，加速切入至商业化探索与办事能力构建的第二阶段。这不仅是技术的迭代，更是一场关于 “下一代消费入口” 的战争。枪声已经响起。 笔/ 榆白；文章架构师/ 佳佳；出品/ 巨头财经 01 豆包打通电商最后一公里？ 3月30日，一则消息在科技圈内炸开了锅： 字节豆包已经接入抖音电商，支持在豆包App内直接下单商品并完成支付，无需跳转抖音。这意味着，用户在豆包内输入“推荐一款适合跑步的鞋”时，AI不仅会给出文字建议，还会在对话中插入商品卡片，点击即可完成购买。 对于这条消息，抖音客服的回应颇为微妙：抖音电商与豆包是“相互独立但有合作的关系”，电商页面跳转自抖音，但支付环节已在豆包端内闭环。 这套说法平衡着两个产品的关系，却也道出了一个事实： 字节跳动借助DAU峰值达1.45亿的全能AI助手豆包，打出一个鲜明的AI购物旗帜。 这并非一蹴而就。去年10月，豆包首次将抖音商城交易链路嵌入其中，实现从咨询到跳转抖音下单的闭环；今年2月，豆包进一步打通本地生活服务，可以一站式推荐景点门票、餐饮团购。如今，从“跳转”到“端内闭环”，豆包终于补齐了电商交易的最后一公里。 值得玩味的是，豆包并非孤例。就在豆包内测消息传出的前后脚，支付宝宣布在千问App中上线“AI付”功能，用户可通过一句话指令完成话费充值、点外卖、买电影票，甚至订机酒和打车。据报道， 千问App公测后月活用户已突破1亿。2026年春节假期，千问累计完成近2亿笔AI下单。 多家电商平台也在跟进这一趋势，试图用对话取代传统货架，让AI成为用户的“购物...

格隆汇4月2日｜大众汽车（中国）、大众汽车（安徽）数字化销售服务有限公司与一汽-大众签署经销商网络战略合作备忘录。双方将在一汽-大众部分经销商推出“店中店”模式，展示和销售大众汽车（安徽）最新的新能源车型，与众08将成为双方合作的首款车型。ID.与众品类的另一款车长5米的轿车将于今年下半年上市并开展类似合作。

全国建筑业总产值首年下降，新签合同额连续3年萎缩；“十五五”水利水运、电力市场前景看好，“铁公基”进入补强升级阶段 资料图：中国铁建大桥局广陵制梁场，工人在制梁施工现场作业。图：视觉中国 【财新网】 过去一年，受国内房地产下行、市场需求偏弱等影响，国内建筑市场持续承压，两大铁路建筑央企的营收、利润同比双降。 截至3月31日，中国中铁（601390.SH/0390.HK）、中国铁建（601186.SH/1186.HK）出齐2025年年报。中国中铁录得营收约1.09万亿元，同比下降5.76%；归母净利润约228.92亿元，同比下降17.91%。中国铁建录得营收约1.03万亿元，同比下降3.5%；归母净利润约183.63亿元，同比下降17.34%。

格隆汇4月2日｜据俄《生意人报》消息，俄罗斯农业部提议在联邦农工产业现代化项目框架下下调农民补贴，各地区2027年将获得253亿卢布补贴，同比减少100亿卢布。另有20亿卢布补贴将转用于支持育种与种子生产。2027年将取消对农业技术作业、土壤改良、粮食及乳制品深加工的补贴。针对畜牧养殖、多年生作物及乳制品生产的补贴，将要求农户签订农业保险合同。俄农业部表示，上述调整不会给行业带来负面影响，旨在提升产业可持续性并降低经营风险。

Chinese optics firm Zhongji Innolight Co. has confidentially filed for a Hong Kong listing, according to people familiar with the development, in what could be one of the city’s biggest maiden share sales this year. Innolight — a supplier of Nvidia Corp. — is already listed in Shenzhen, where its shares have climbed about sixfold in a year as investors flock to artificial intelligence and businesses that feed it. The maker of high-speed optical transceivers said Monday its 2025 net income doubled to 10.8 billion yuan ($1.6 billion). People familiar with the matter have said previously that Innolight aims to raise at least $3 billion in a Hong Kong listing. Deliberations are ongoing, and details such as the size and timing of the share sale aren’t finalized, the people said, asking not to be identified because the deliberations are private. A representative for Innolight didn’t respond to a request seeking comment. Innolight joins several other companies in filing Hong Kong listing paperwork confidentially , a route that helps them avoid disclosing trade secrets prematurely. Details are made public after regulators approve listings. The Hong Kong exchange has started consultations on potentially expanding the confidential-filing option, which is currently only available to certain secondary-listing applicants and those in the biotechnology and specialist-tech sectors.

据英国媒体4月1日报道，美国总统特朗普曾向欧洲国家施压，要求他们加入所谓“霍尔木兹联盟”以管控霍尔木兹海峡，否则将停止向乌克兰提供武器。 英国《金融时报》援引相关人士的话说，特朗普3月曾要求北约国家海军协助重新打开霍尔木兹海峡，但遭欧洲多国拒绝，特朗普对此回应称将停止向“乌克兰优先需求清单”机制提供物资。该机制由部分北约欧洲成员国出资，向美国购买武器援助乌克兰。 据报道，当时在北约秘书长吕特敦促下，一些主要北约成员国于3月19日匆忙发表了一份联合声明，称愿为确保霍尔木兹海峡通航安全作出“适当努力”。 报道援引知情人士的话说，吕特之所以坚持要发表联合声明，是因特朗普威胁对“乌克兰优先需求清单”断供，欧洲拒绝提供帮助令特朗普“歇斯底里”。 4月1日，英国《每日电讯报》刊载对特朗普的专访文章写道，在北约盟友拒绝帮助打击伊朗后，特朗普正“认真考虑”让美国退出北约。报道称，特朗普对北约盟国未参与打击伊朗、不愿保障霍尔木兹海峡通航深表不满，称这“难以置信”。(新华社)

如果在过去的一年里，你的企业还在纠结于如何让员工更高效地使用聊天机器人，那么现在是时候调整战略焦点了。 我们正在经历一个从“自动化”到“Agentic AI”的根本性跨越。 对于企业管理者而言，这是一个既令人兴奋又充满挑战的时刻。作为变革的推动者，我们有机会带领企业超越单纯的效率提升，迈向高自主性的新时代，同时，这也要求我们彻底重新思考企业的运营逻辑。 重新定义“Agent” 在当前的市场上，似乎一切都被贴上了“Agent”的标签。但拨开表象，从底层逻辑来看，Agent发展至今，呈现出清晰的成熟度阶梯。 第一层是传统自动化 ，即通过脚本和固定的工作流，处理具有重复性且可预测的任务。虽然高效，但不具备思考能力。 第二层是AI助手 ，也就是目前普及的聊天机器人。它们拥有强大的知识库，能回答查询、总结文档，甚至通过RAG（检索增强生成）调用数据。其核心在于“响应”，能在对话中提供辅助，但独立行动能力依然受限。 第三层是基于目标和任务的Agent。 它们不再依赖指令，而是依赖“意图”。你给它一个特定的业务目标，它能与人类协作，为完成该任务自主调用工具。 最后一层是Agentic系统， 也是自主性的最高形态。多个Agents像一个团队一样协作，能处理高度复杂甚至模糊的任务。它们能将目标拆解为无数个具体步骤，并分工完成。在这里，AI的核心价值从“响应”进化为“成就”。 目标驱动： 它们不等待每一步的指令，而是接收并理解“高阶意图”，再自主规划路径，将意图转化为行动。 资源整合能力： 它们不仅能访问数据，还能理解上下文、组织层级和角色。它们知道为完成任务需要调用哪些工具、连接哪些API。 记忆能力： 真正的Agent拥有记忆，它能记起上次处理类似任务时遇到的问题，从而避免重蹈覆辙。 学习与适应能力： 它们不是静态的软件，而是能从反馈循环中不断自我优化的系统。 上报机制： 这一点常被误解。Agent在遇到无法处理的问题时寻求人类介入，这不仅不是系统的失败，反而是一种内置的信任机制。这意味着你可以放心地让它处理业务，因为它知道何时该停下来请求你的帮助，而不是盲目地制造风险。 当然，很多人会问，AI的热潮已经持续了几年，为什么现在才强调“Agent”？答案在于两条关键曲线的交汇——如今，AI能够独立处理的任务复杂度大约每7个月就会翻一番，这意味着AI可以承接越来越复杂的任务；同时，智能...

据彭博社报道，OpenAI 的股票在二级市场上正在「失宠」。随着投资者迅速将资金转向其主要竞争对手 Anthropic，OpenAI 的部分股票在二级市场甚至变得难以出售。 Next Round Capital 创始人 Ken Smythe 提到，尽管公司刚刚完成大规模融资，但近期市场对其股票的兴趣有所回落。过去几周，大约有六家机构尝试出售总计约 6 亿美元的 OpenAI 股份，但暂未找到合适买家；而另一边，市场上已有约 20 亿美元资金在等待进入 Anthropic。 从交易平台的数据来看，这种分化也有所体现。Augment 和 Hiive 等平台显示，Anthropic 的需求更为活跃。Augment 联合创始人 Adam Crawley 指出，目前 OpenAI 的估值约为 8520 亿美元，Anthropic 为 3800 亿美元，价差本身就让一部分投资者更倾向于后者——毕竟在估值尚未「走高之前」入场，想象空间更大一些。 报价层面，这种情绪也有反映：OpenAI 的买方报价对应估值约为 7650 亿美元，相比其融资估值存在约 10% 的折价；而 Anthropic 的买方报价则对应约 6000 亿美元，较上一轮融资溢价超过 50%。简单来说，一个在「打折出让」，一个在「溢价排队」。 不过，把视角拉回一级市场，画风又完全不同。 就在本周，OpenAI 刚刚完成新一轮融资，获得高达 1220 亿美元的承诺资本，投后估值达到 8520 亿美元。参与方包括亚马逊、英伟达、软银，以及微软、Andreessen Horowitz 等一线机构。与此同时，OpenAI 也首次向个人投资者开放渠道，通过银行募集了超过 30 亿美元，并进入 ARK Invest 部分 ETF。 在机制上，公司还尝试降低个人投资者参与门槛，比如推出零费用通道，并提醒市场警惕通过 SPV 间接持股的高费用结构。相比之下，市场上针对 Anthropic 的类似交易，仍普遍收取 15% - 20% 的附带权益费用。 从基本面来看，OpenAI 的增长依然强劲：当前月营收约 20 亿美元，预计 2025 年全年收入将达到 131 亿美元；ChatGPT 周活跃用户超过 9 亿，付费用户超过 5000 万，企业收入占比超过 40%。不过，高昂的算力和人力投入也意味着公司仍未实现盈利。 为控制成本，Ope...

围绕在自动驾驶车辆发挥“眼睛”作用的技术，势力竞争日益激烈。越来越多的企业采用像美国特斯拉那样仅靠摄像头来控制驾驶的方式，正不断追赶同时使用高精度传感器与摄像头的主流派。背后原因是人工智能（AI）的迅速进化。如果无传感器方式不断扩大，也会对相关产业产生影响，但同时也面临如何确保安全性等课题。 “我们已经与高精度传感器告别。如果开发出优秀的AI，仅用摄像头就能够做到”，开发自动驾驶技术的日本初创企业Turing首席执行官（CEO）山本一成如此强调。 该公司1月拆除了安装在实验车辆上的高精度传感器“LiDAR（激光雷达）”。今后将把重心转移到只通过摄像头来识别周围信息、由AI进行控制的特斯拉方式上。最早将于2030年将系统应用到量产车上。 目前的普通自动驾驶技术采用的是同时使用多个激光雷达和摄像头的方式。激光雷达可利用光的反射，以高精度捕捉与周围物体的距离以及物体形状。即使在逆光状态下或者夜间，也可轻松掌握自身车辆的位置。要弥补摄像头遗漏的信息，激光雷达一直被认为不可或缺。 特斯拉正试图颠覆这一前提。该公司从2026年春季开始量产自动驾驶出租车专用车“Cybercab”。设想实现无需人类介入的“Level 4”自动驾驶。该车不配备激光雷达，而是利用多个摄像头和AI来控制其自主行驶。 AI进化速度加快 特斯拉首席执行官埃隆·马斯克一直主张，“依赖激光雷达的人注定失败”。他认为，人类仅依靠视觉来驾驶车辆，如果AI不断进化，仅依靠摄像头也可以实现自动驾驶，不需要使用激光雷达。 为什么马斯克对以摄像头为主的自动驾驶如此有信心？原因在于激光雷达存在三个弱点。 其一是信息质量问题。摄像头获取的影像可以显示出标识牌上的文字、信号灯颜色、行人动作等“蕴含意义的信息”。激光雷达虽然可以捕捉到距离和形状，但无法读取视觉信息。只要AI性能提升就能仅用摄像头来代替的观点日益增强。 其二是判断延迟会带来事故风险。如果出现激光雷达与摄像头获取的信息不同的“偏差”，就可能导致计算处理延迟。特斯拉等企业将其视为多种传感器组合使用时出现的问题并提出批评。 其三是成本高。目前激光雷达的单价为约数万日元，而摄像头的价格为数千日元，只有激光雷达的十分之一左右。 据印度市场研究机构Market Research Future预测，2035年全球车载摄像头相关市场规模将达到1444亿美元，是2025年的2.8倍。...

NVIDIA Corporation (NVDA): D E Shaw trims stake MSN