Inducing reasoning in multimodal large language models (MLLMs) is critical for achieving human-level perception and understanding. Existing methods mainly leverage LLM reasoning to analyze parsed visuals, often limited by static perception stages. This paper introduces Visual Test-Time Scaling (VTTS), a novel approach to enhance MLLMs' reasoning via iterative perception during inference. VTTS mimics humans' hierarchical attention by progressively refining focus on high-confidence spatio-temporal regions, guided by updated textual predictions. Specifically, VTTS employs an Iterative Perception (ITP) mechanism, incorporating reinforcement learning with spatio-temporal supervision to optimize reasoning. To support this paradigm, we also present VTTS-80K, a dataset tailored for iterative perception. These designs allows a MLLM to enhance its performance by increasing its perceptual compute.

It is commonly believed that scaling language models should commit a significant space or time cost, by increasing the parameters (parameter scaling) or output tokens (inference-time scaling). We introduce another and more inference-efficient scaling paradigm: increasing the model's parallel computation during both training and inference time. We apply P diverse and learnable transformations to the input, execute forward passes of the model in parallel, and dynamically aggregate the P outputs. This method, namely parallel scaling (PARSCALE), scales parallel computation by reusing existing parameters and can be applied to any model structure, optimization procedure, data, or task. We theoretically propose a new scaling law and validate it through large-scale pre-training, which shows that a model with P parallel streams is similar to scaling the parameters by O(logP) while showing superior inference efficiency. For example, PARSCALE can use up to 22 less memory increase and 6 less latency increase compared to parameter scaling that achieves the same performance improvement. It can also recycle an off-the-shelf pre-trained model into a parallelly scaled one by post-training on a small amount of tokens, further reducing the training budget. The new scaling law we discovered potentially facilitates the deployment of more powerful models in low-resource scenarios, and provides an alternative perspective for the role of computation in machine learning. Our code and 67 trained model checkpoints are publicly available at https://github.com/QwenLM/ParScale

Financial markets pose fundamental challenges for asset return prediction due to their high dimensionality, non-stationarity, and persistent volatility. Despite advances in large language models and multi-agent systems, current quantitative research pipelines suffer from limited automation, weak interpretability, and fragmented coordination across key components such as factor mining and model innovation. In this paper, we propose R&D-Agent for Quantitative Finance, in short R&D-Agent(Q), the first data-centric multi-agent framework designed to automate the full-stack research and development of quantitative strategies via coordinated factor-model co-optimization. R&D-Agent(Q)decomposes the quant process into two iterative stages: a Research stage that dynamically sets goal-aligned prompts, formulates hypotheses based on domain priors, and maps them to concrete tasks, and a Development stage that employs a code-generation agent, Co-STEER, to implement task-specific code, which is then executed in real-market backtests. The two stages are connected through a feedback stage that thoroughly evaluates experimental outcomes and informs subsequent iterations, with a multi-armed bandit scheduler for adaptive direction selection. Empirically, R&D-Agent(Q) achieves up to 2 higher annualized returns than classical factor libraries using 70% fewer factors, and outperforms state-of-the-art deep time-series models on real markets. Its joint factor-model optimization delivers a strong balance between predictive accuracy and strategy robustness.

Quantized training of Large Language Models (LLMs) remains an open challenge, as maintaining accuracy while performing all matrix multiplications in low precision has proven difficult. This is particularly the case when fine-tuning pre-trained models, which can have large weight, activation, and error (output gradient) outlier values that make lower-precision optimization difficult. To address this, we present HALO, a new quantization-aware training approach for Transformers that enables accurate and efficient low-precision training by combining 1) strategic placement of Hadamard rotations in both forward and backward passes, which mitigate outliers, 2) high-performance kernel support, and 3) FSDP integration for low-precision communication. Our approach ensures that all large matrix multiplications during the forward and backward passes are executed in lower precision.

We introduce ThinkLite-VL, a family of visual reasoning models that achieve state-of-the-art (SoTA) performance using an order of magnitude fewer training samples, relying purely on reinforcement fine-tuning (RFT) self-improvement without any knowledge distillation. Our central insight is that sample difficulty critically influences RFT effectiveness: appropriately challenging examples can drive substantial reasoning improvements, even in low-data regimes. However, quantifying sample difficulty in a reliable and scalable manner remains non-trivial. To address this, we repurpose Monte Carlo Tree Search (MCTS) to measure sample difficulty via the number of reasoning iterations a vision-language model (VLM) requires to solve each instance. This MCTS-based selection procedure identifies samples that induce deeper reasoning while remaining solvable, allowing us to filter a high-quality subset from 70k open-source examples spanning math, natural image understanding, and chart comprehension. Using this approach, we select just 11k challenging samples for RFT on Qwen2.5-VL-7B-Instruct and 7.5k samples for Qwen2.5-VL-72B-Instruct. The resulting models, ThinkLite-VL-7B and ThinkLiteVL-72B, significantly outperform their respective base models across eight visual reasoning benchmarks.

Medical Lay Language Generation (MLLG) plays a vital role in improving the accessibility of complex scientific content for broader audiences. Recent literature to MLLG commonly employ parameter-efficient fine-tuning methods such as LowRank Adaptation (LoRA) to fine-tuning large language models (LLMs) using paired expert-lay language datasets. However, LoRA struggles with the challenges posed by multi-source heterogeneous MLLG datasets. Specifically, through a series of exploratory experiments, we reveal that standard LoRA fail to meet the requirement for semantic fidelity and diverse lay-style generation in MLLG task. To address these limitations, we propose Magical, an asymmetric LoRA architecture tailored for MLLG under heterogeneous data scenarios. Magical employs a shared matrix Afor abstractive summarization, along with multiple isolated matrices B for diverse lay-style generation. To preserve semantic fidelity during the lay language generation process, Magical introduces a Semantic Invariance Constraint to mitigate semantic subspace shifts on matrix A. Furthermore, to better adapt to diverse lay-style generation, Magical incorporates the Recommendation-guided Switch, an externally interface to prompt the LLM to switch between different matrices B. Experimental results on three real-world lay language generation datasets demonstrate that Magical consistently outperforms prompt-based methods, vanilla LoRA, and its recent variants, while also reducing trainable parameters by 31.66%.

Recent advancements in reasoning capability of Multimodal Large Language Models (MLLMs) demonstrate its effectiveness in tackling complex visual tasks. However, existing MLLM-based Video Anomaly Detection (VAD) methods remain limited to shallow anomaly descriptions without deep reasoning. In this paper, we propose a new task named Video Anomaly Reasoning (VAR), which aims to enable deep analysis and understanding of anomalies in the video by requiring MLLMs to think explicitly before answering. To this end, we propose Vad-R1, an end-to-end MLLM-based framework for VAR. Specifically, we design a Perceptionto-Cognition Chain-of-Thought (P2C-CoT) that simulates the human process of recognizing anomalies, guiding the MLLMs to reason about anomalies step-by-step. Based on the structured P2C-CoT, we construct Vad-Reasoning, a dedicated dataset for VAR. Furthermore, we propose an improved reinforcement learning algorithm AVA-GRPO, which explicitly incentivizes the anomaly reasoning capability of MLLMs through a self-verification mechanism with limited annotations. Experimental results demonstrate that Vad-R1 achieves superior performance, outperforming both open-source and proprietary models on VAD and VAR tasks.

Current benchmarks for evaluating large language models (LLMs) in social media moderation completely overlook a serious threat: covert advertisements, which disguise themselves as regular posts to deceive and mislead consumers into making purchases, leading to significant ethical and legal concerns. In this paper, we present the CHASM, a first-of-its-kind dataset designed to evaluate the capability of Multimodal Large Language Models (MLLMs) in detecting covert advertisements on social media. CHASM3 is a high-quality, anonymized, manually curated dataset consisting of 4,992 instances, based on real-world scenarios from the Chinese social media platform Rednote. The dataset was collected and annotated under strict privacy protection and quality control protocols. It includes many product experience sharing posts that closely resemble covert advertisements, making the dataset particularly challenging.

Recent work analyzing in-context learning (ICL) has identified a broad set of strategies that describe model behavior in different experimental conditions. We aim to unify these findings by asking why a model learns these disparate strategies in the first place. Specifically, we start with the observation that when trained to learn a mixture of tasks, as is popular in the literature, the strategies learned by a model for performing ICL can be captured by a family of Bayesian predictors: a memorizing predictor, which assumes a discrete prior on the set of seen tasks, and a generalizing predictor, where the prior matches the underlying task distribution. Adopting the normative lens of rational analysis, where a learner's behavior is explained as an optimal adaptation to data given computational constraints, we develop a hierarchical Bayesian framework that almost perfectly predicts Transformer nexttoken predictions throughout training--without assuming access to its weights. Under this framework, pretraining is viewed as a process of updating the posterior probability of different strategies, and inference-time behavior as a posteriorweighted average over these strategies' predictions. Our framework draws on common assumptions about neural network learning dynamics, which make explicit a tradeoff between loss and complexity among candidate strategies: beyond how well it explains the data, a model's preference towards implementing a strategy is dictated by its complexity. This helps explain well-known ICL phenomena, while offering novel predictions: e.g., we show a superlinear trend in the timescale for transitioning from generalization to memorization as task diversity increases. Overall, our work advances an explanatory and predictive account of ICL grounded in tradeoffs between strategy loss and complexity.

It also discusses evaluation metrics and the use of explanations to debug models and improve performance.