计算机行业重大事项点评：CES2026：端侧与AI AGENT成核心焦点

华创证券01-12

2026 年美西时间1 月6 日-9 日，CES 2026 正式举行，端侧与AI Agent 成为核心议题。随着端侧AI 对本地算力需求爆发式增长，英特尔、高通等纷纷亮出新一代核心产品。评论：算力底座跨越临界点，端侧模型实现“多模态GPT-4”能力下沉。2026 年主流AI PC 与旗舰手机或将配备NPU 算力超80 TOPS，如AMD 锐龙AI 400 系列及高通下一代平台。关键技术指标上，谷歌...

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执行和操作。另一类则是互联网大厂已有超级APP，如微信、支付宝嵌入式入口，以及更多垂类Agent 应用厂商。硬件方面，如AI 手机、耳机或者眼镜等硬件体系，AI 将不再是孤立的工具，而是能够感知屏幕内容并代人执行任务的个人助手和陪伴产品。.2 企业级服务：全球AI 正迎来关键转型期，AI Agent 技术逐渐从单工具阶段迈入多智能体协同时代。2025 年12 月，OpenAI 发布报告，单组织API token 消耗量年化增长320 倍，API 调用从实验转向生产部署；Deepseek V3.2 进一步强化 Agent 能力，加快企业应用落地。我们认为，端侧应用爆发临界点源于交互逻辑从“Chat”向“Agent”范式转移。.3 案例：“赛博宠物”情感陪伴新物种。在CES 2026 上，会畅科技首款“赛博新物种”OlloNi 机器人首发，作为聚焦“科技+情感陪伴”陪伴机器人，不追求拟人化或动物模仿，而是通过精准情绪感知与个性化交互设计，打造如宠物般自然、低负担的情感连接体验。此举也标志着公司从传统通信服务商向“AI+云+硬件”智能交互生态企业的战略转型取得实质性突破，成为“重新定义家庭情感交互的新物种”。我们判断，以会畅科技为代表的新科技企业正进入更多原生AI 应用领域，端侧与AI Agent 产业有望在2026 年迎来新一轮爆发新周期。投资建议：随着算力与模型成熟度不断加强，端侧与Agent 迎广泛机遇：.1 国产算力：寒武纪、海光信息、沐曦股份、摩尔线程、景嘉微等。.2 企业服务：1）办公：金山办公、合合信息、福昕软件；2）编程：卓易信息；3）多模态：万兴科技、海康威视、快手、三六零；4）ERP：金蝶国际、用友网络、聚水潭；5）OA：泛微网络、致远互联；6）营销：迈富时、明源云。.3 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