而从模型的发布节奏来看，四季度财报其实已经无法反映基本面：
25 年四季度以来，各模态模型都在快速迭代，其中重点是 26 年 2 月的 M2.5 基座模型，开始主推 Agent 功能，侧重编程、工具调用、办公场景的应用，目标就要把 AI 从辅助角色变成 “AI 同事”。
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Here's a concrete example from far return (RETF). The microcode needs to determine whether this is a same-privilege or cross-privilege return, because the two cases require very different handling. Following execution order (not address order):
Salesforce CEO 反驳「软件末日」：都不是第一次这样讲了