TransXSSM: A Hybrid Transformer State Space Model with Unified Rotary Position Embedding

Transformers exhibit proficiency in capturing long-range dependencies, whereas State Space Models (SSMs) facilitate linear-time sequence modeling. Notwithstanding their synergistic potential, the integration of these architectures presents a significant challenge, primarily attributable to a fundamental incongruity in their respective positional encoding mechanisms: Transformers rely on explicit Rotary Position Embeddings (RoPE), while SSMs leverage implicit positional representations via convolutions. This divergence often precipitates discontinuities and suboptimal performance. To address this impediment, we propose a unified rotary position embedding (Unified RoPE) methodology, thereby establishing a consistent positional encoding framework for both self-attention and state-space components. Using this Unified RoPE, we introduce TransXSSM, a hybrid architecture that coherently integrates the Transformer and SSM layers under this unified positional encoding scheme. At a 4K sequence length, TransXSSM exhibits training and inference speeds that are 42.3\% and 29.5\% faster, respectively, relative to standard Transformer models. It also delivers higher accuracy: under comparable settings, it surpasses a Transformer baseline by over 4\% on language modeling benchmarks.TransXSSM furthermore scales more effectively: TransXSSM-1.3B gains 7.22\% in average accuracy over its 320M version (versus about 6\% gains for equivalent Transformers or SSMs). Our results show that unified positional encoding resolves positional incompatibility in hybrid models, enabling efficient, high-performance long-context modeling.

Concise Reasoning, Big Gains: Pruning Long Reasoning Trace with Difficulty-Aware Prompting

Existing chain-of-thought (CoT) distillation methods can effectively transfer reasoning abilities to base models but suffer from two major limitations: excessive verbosity of reasoning traces and inadequate adaptability to problem difficulty. Long reasoning traces significantly increase inference costs, and uniform-length solutions prevent base models from learning adaptive reasoning strategies. To address these issues, we propose a difficulty-aware prompting (DAP) method to dynamically shorten reasoning traces without performance loss. In our approach, a large teacher model first judges each problem's difficulty and then rewrites its reasoning traces to an appropriate shorter length, yielding concise yet complete reasoning traces. Leveraging the DAP pipeline, we curate a distilled dataset called LiteCoT consisting of 100K concise reasoning examples, with solutions averaging only 720 tokens (an order of magnitude shorter than typical CoTs). Using LiteCoT, we distilled a new family of reasoning models called Liter (1.5B, 7B, and 32B) based on the Qwen2.5 architecture. Experiments show that a student model fine-tuned on just 100K of these difficulty-pruned CoT samples outperforms a model distilled on 800K original Long CoT samples, while significantly reducing training and inference costs. Our method also generalizes well: across 11 diverse benchmarks, the shorter difficulty-aware CoTs achieve equal or better accuracy than Long chains, using far fewer tokens. For example, on the challenging AIME24 exam, our approach reaches $74.2\%$ Pass@1 using only about 5K inference tokens, surpassing other methods that consume many more tokens. Our code and data are available at https://github.com/Evanwu1125/LiteCoT.

Time Travel is Cheating: Going Live with DeepFund for Real-Time Fund Investment Benchmarking

Large Language Models (LLMs) have demonstrated notable capabilities across financial tasks, including financial report summarization, earnings call transcript analysis, and asset classification. However, their real-world effectiveness in managing complex fund investment remains inadequately assessed. A fundamental limitation of existing benchmarks for evaluating LLM-driven trading strategies is their reliance on historical back-testing, inadvertently enabling LLMs to "time travel"-leveraging future information embedded in their training corpora, thus resulting in possible information leakage and overly optimistic performance estimates. To address this issue, we introduce DeepFund, a live fund benchmark tool designed to rigorously evaluate LLM in real-time market conditions. Utilizing a multi-agent architecture, DeepFund connects directly with real-time stock market data-specifically data published after each model pretraining cutoff-to ensure fair and leakage-free evaluations. Empirical tests on nine flagship LLMs from leading global institutions across multiple investment dimensions-including ticker-level analysis, investment decision-making, portfolio management, and risk control-reveal significant practical challenges. Notably, even cutting-edge models such as DeepSeek-V3 and Claude-3.7-Sonnet incur net trading losses within DeepFund real-time evaluation environment, underscoring the present limitations of LLMs for active fund management. Our code is available at https://github.com/HKUSTDial/DeepFund.

Boosting Text-to-Chart Retrieval through Training with Synthesized Semantic Insights

Charts are crucial for data analysis and decision-making.Text-to-chart retrieval systems have become increasingly important for Business Intelligence (BI), where users need to find relevant charts that match their analytical needs. These needs can be categorized into precise queries that are well-specified and fuzzy queries that are more exploratory -- both require understanding the semantics and context of the charts. However, existing text-to-chart retrieval solutions often fail to capture the semantic content and contextual information of charts, primarily due to the lack of comprehensive metadata (or semantic insights). To address this limitation, we propose a training data development pipeline that automatically synthesizes hierarchical semantic insights for charts, covering visual patterns (visual-oriented), statistical properties (statistics-oriented), and practical applications (task-oriented), which produces 207,498 semantic insights for 69,166 charts. Based on these, we train a CLIP-based model named ChartFinder to learn better representations of charts for text-to-chart retrieval. Our method leverages rich semantic insights during the training phase to develop a model that understands both visual and semantic aspects of charts.To evaluate text-to-chart retrieval performance, we curate the first benchmark, CRBench, for this task with 21,862 charts and 326 text queries from real-world BI applications, with ground-truth labels verified by the crowd workers.Experiments show that ChartFinder significantly outperforms existing methods in text-to-chart retrieval tasks across various settings. For precise queries, ChartFinder achieves up to 66.9% NDCG@10, which is 11.58% higher than state-of-the-art models. In fuzzy query tasks, our method also demonstrates consistent improvements, with an average increase of 5% across nearly all metrics.

LEAD: Iterative Data Selection for Efficient LLM Instruction Tuning

Instruction tuning has emerged as a critical paradigm for improving the capabilities and alignment of large language models (LLMs). However, existing iterative model-aware data selection methods incur significant computational overhead, as they rely on repeatedly performing full-dataset model inference to estimate sample utility for subsequent training iterations, creating a fundamental efficiency bottleneck. In this paper, we propose LEAD, an efficient iterative data selection framework that accurately estimates sample utility entirely within the standard training loop, eliminating the need for costly additional model inference. At its core, LEAD introduces Instance-Level Dynamic Uncertainty (IDU), a theoretically grounded utility function combining instantaneous training loss, gradient-based approximation of loss changes, and exponential smoothing of historical loss signals. To further scale efficiently to large datasets, LEAD employs a two-stage, coarse-to-fine selection strategy, adaptively prioritizing informative clusters through a multi-armed bandit mechanism, followed by precise fine-grained selection of high-utility samples using IDU. Extensive experiments across four diverse benchmarks show that LEAD significantly outperforms state-of-the-art methods, improving average model performance by 6.1%-10.8% while using only 2.5% of the training data and reducing overall training time by 5-10x.

DataMosaic: Explainable and Verifiable Multi-Modal Data Analytics through Extract-Reason-Verify

Large Language Models (LLMs) are transforming data analytics, but their widespread adoption is hindered by two critical limitations: they are not explainable (opaque reasoning processes) and not verifiable (prone to hallucinations and unchecked errors). While retrieval-augmented generation (RAG) improves accuracy by grounding LLMs in external data, it fails to address the core challenges of trustworthy analytics - especially when processing noisy, inconsistent, or multi-modal data (for example, text, tables, images). We propose DataMosaic, a framework designed to make LLM-powered analytics both explainable and verifiable. By dynamically extracting task-specific structures (for example, tables, graphs, trees) from raw data, DataMosaic provides transparent, step-by-step reasoning traces and enables validation of intermediate results. Built on a multi-agent framework, DataMosaic orchestrates self-adaptive agents that align with downstream task requirements, enhancing consistency, completeness, and privacy. Through this approach, DataMosaic not only tackles the limitations of current LLM-powered analytics systems but also lays the groundwork for a new paradigm of grounded, accurate, and explainable multi-modal data analytics.

EllieSQL: Cost-Efficient Text-to-SQL with Complexity-Aware Routing

Text-to-SQL automatically translates natural language queries to SQL, allowing non-technical users to retrieve data from databases without specialized SQL knowledge. Despite the success of advanced LLM-based Text-to-SQL approaches on leaderboards, their unsustainable computational costs--often overlooked--stand as the "elephant in the room" in current leaderboard-driven research, limiting their economic practicability for real-world deployment and widespread adoption. To tackle this, we exploratively propose EllieSQL, a complexity-aware routing framework that assigns queries to suitable SQL generation pipelines based on estimated complexity. We investigate multiple routers to direct simple queries to efficient approaches while reserving computationally intensive methods for complex cases. Drawing from economics, we introduce the Token Elasticity of Performance (TEP) metric, capturing cost-efficiency by quantifying the responsiveness of performance gains relative to token investment in SQL generation. Experiments show that compared to always using the most advanced methods in our study, EllieSQL with the Qwen2.5-0.5B-DPO router reduces token use by over 40% without compromising performance on Bird development set, achieving more than a 2x boost in TEP over non-routing approaches. This not only advances the pursuit of cost-efficient Text-to-SQL but also invites the community to weigh resource efficiency alongside performance, contributing to progress in sustainable Text-to-SQL.

nvBench 2.0: A Benchmark for Natural Language to Visualization under Ambiguity

Natural Language to Visualization (NL2VIS) enables users to create visualizations from natural language queries, making data insights more accessible. However, NL2VIS faces challenges in interpreting ambiguous queries, as users often express their visualization needs in imprecise language. To address this challenge, we introduce nvBench 2.0, a new benchmark designed to evaluate NL2VIS systems in scenarios involving ambiguous queries. nvBench 2.0 includes 7,878 natural language queries and 24,076 corresponding visualizations, derived from 780 tables across 153 domains. It is built using a controlled ambiguity-injection pipeline that generates ambiguous queries through a reverse-generation workflow. By starting with unambiguous seed visualizations and selectively injecting ambiguities, the pipeline yields multiple valid interpretations for each query, with each ambiguous query traceable to its corresponding visualization through step-wise reasoning paths. We evaluate various Large Language Models (LLMs) on their ability to perform ambiguous NL2VIS tasks using nvBench 2.0. We also propose Step-NL2VIS, an LLM-based model trained on nvBench 2.0, which enhances performance in ambiguous scenarios through step-wise preference optimization. Our results show that Step-NL2VIS outperforms all baselines, setting a new state-of-the-art for ambiguous NL2VIS tasks.

SRAG: Structured Retrieval-Augmented Generation for Multi-Entity Question Answering over Wikipedia Graph

Multi-entity question answering (MEQA) poses significant challenges for large language models (LLMs), which often struggle to consolidate scattered information across multiple documents. An example question might be "What is the distribution of IEEE Fellows among various fields of study?", which requires retrieving information from diverse sources e.g., Wikipedia pages. The effectiveness of current retrieval-augmented generation (RAG) methods is limited by the LLMs' capacity to aggregate insights from numerous pages. To address this gap, this paper introduces a structured RAG (SRAG) framework that systematically organizes extracted entities into relational tables (e.g., tabulating entities with schema columns like "name" and "field of study") and then apply table-based reasoning techniques. Our approach decouples retrieval and reasoning, enabling LLMs to focus on structured data analysis rather than raw text aggregation. Extensive experiments on Wikipedia-based multi-entity QA tasks demonstrate that SRAG significantly outperforms state-of-the-art long-context LLMs and RAG solutions, achieving a 29.6% improvement in accuracy. The results underscore the efficacy of structuring unstructured data to enhance LLMs' reasoning capabilities.

Fine-Grained Retrieval-Augmented Generation for Visual Question Answering

Visual Question Answering (VQA) focuses on providing answers to natural language questions by utilizing information from images. Although cutting-edge multimodal large language models (MLLMs) such as GPT-4o achieve strong performance on VQA tasks, they frequently fall short in accessing domain-specific or the latest knowledge. To mitigate this issue, retrieval-augmented generation (RAG) leveraging external knowledge bases (KBs), referred to as KB-VQA, emerges as a promising approach. Nevertheless, conventional unimodal retrieval techniques, which translate images into textual descriptions, often result in the loss of critical visual details. This study presents fine-grained knowledge units, which merge textual snippets with entity images stored in vector databases. Furthermore, we introduce a knowledge unit retrieval-augmented generation framework (KU-RAG) that integrates fine-grained retrieval with MLLMs. The proposed KU-RAG framework ensures precise retrieval of relevant knowledge and enhances reasoning capabilities through a knowledge correction chain. Experimental findings demonstrate that our approach significantly boosts the performance of leading KB-VQA methods, achieving improvements of up to 10%.