US STOCKS
FUNDS
FX & CRYPTO
SH/SZ-HK
HK STOCKS
 
 
 
 
 
 
Quick
Quote
Detailed
Quote
Latest
Technical
Analysis
Dynamic
Chart
Stock
Trend
Transaction
Block
Trade
Money
Flow
Peers
News
AA
Move
Dividend
Fundamentals
Short
Selling
Warrants
CBBCs
Inline
Warrants
Last  
Range
Updated
News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
Content Sharing
《大行》高盛:對騰訊(00700.HK)AI策略進展感到鼓舞 重申「買入」評級
高盛發表研究報告,指騰訊(00700.HK)首席戰略官James Mitchell參與高盛舉辦的亞洲科技通訊大會(Asia Communacopia+Technology),重點討論了集團的AI策略。該行指出,騰訊的混元3.0模型經過全面重構基礎模型戰略,已成為中國同類別中極具競爭力的模型。騰訊重建了大型語言模型團隊,重新設計了預訓練和強化學習堆棧,擴展和清...
Reset
Send
The window will close in 5 seconds
《大行》高盛:對騰訊(00700.HK)AI策略進展感到鼓舞 重申「買入」評級
Recommend
17
Positive
37
Negative
20
 
 

高盛發表研究報告,指騰訊(00700.HK)  +10.800 (+2.404%)    Short selling $1.66B; Ratio 10.659%   首席戰略官James Mitchell參與高盛舉辦的亞洲科技通訊大會(Asia Communacopia+Technology),重點討論了集團的AI策略。該行指出,騰訊的混元3.0模型經過全面重構基礎模型戰略,已成為中國同類別中極具競爭力的模型。騰訊重建了大型語言模型團隊,重新設計了預訓練和強化學習堆棧,擴展和清理了數據集,並將評估從公共基準轉向通用智能。Hy3被視為其規模類別中較好的模型之一,為未來六至九個月內推出更大、更智能的模型迭代奠定基礎。

代理式AI(Agentic AI)正成為聊天機器人之後的新興應用案例,CodeBuddy/WorkBuddy為其核心,代碼生成是最清晰的早期驗證點,並將逐步擴展至通用計算機使用及白領生產力領域。微信、企業微信、QQ、元寶及QQ瀏覽器是用戶端控制面,其中微信AI代理具備比聊天機器人更長的記憶能力,使其能處理多方對話情境。騰訊強調,使用代理功能的活躍及付費用戶留存率強勁,且使用更多代幣及升級至更高價格層級代幣的意願很高。

騰訊正加速AI投資,同時維持核心盈利能力韌性。AI投資回報分為短周期部署(如廣告技術、騰訊雲)能帶來近期的可衡量回報,其中廣告利潤率較高,而騰訊雲則帶來可觀收入,儘管利潤率低於遊戲及廣告。長周期部署(如混元模型)則因差異化數據集及微信場景創造長期價值。此外,騰訊已花費逾一年時間準備其技術堆棧,以兼容多種國內ASIC芯片,並高效大規模運行推理,隨著更多計算能力上線,騰訊可將增量計算導向外部騰訊雲需求。

該行對騰訊的AI策略進展感到鼓舞,包括AI資本支出承諾按年大幅增加、混元3.0預覽版的代幣使用量表現,以及早期生產力代理用戶留存率指標。該行認為,騰訊估值倍數的修復路徑將取決於2026年餘下時間AI敘事的進展,由基礎模型的後來者,到近期推出新混元模型、資本支出提升,以及可能推出的微信AI代理,並重申騰訊雲作為中國三大超規模運算服務商的承諾。該行維持對騰訊的「買入」評級,12個月目標價為700港元。(ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-19 16:25.)

AASTOCKS新聞

Preferred News
Related Stocks
0/0
 
SITEMAP
Email: support@aastocks.com
AASTOCKS.COM LIMITED (阿斯達克網絡信息有限公司) All rights reserved.
Disclaimer
You expressly agree that the use of this app/website is at your sole risk.

AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd, Nasdaq, Inc., their respective holding companies and/or any subsidiaries of such holding companies, their Sources and/or other third party data provider(s) endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co.Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) make any express or implied offers, representations or warranties (including, without limitation, any warranty or merchantability or fitness for a particular purpose or use) regarding the Information.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) will be liable to any Subscriber or any other party for any interruption, inaccuracy, error, or omission, regardless of cause, in the Information or for any damages (whether direct or indirect, consequential, punitive, or exemplary) resulting from its use by any party.

AASTOCKS.com Limited shall not be liable for any failure or delay in performance of its obligations under this Disclaimer because of circumstances beyond its reasonable control, including but without limitation, acts of God, typhoons, rainstorms, other natural disasters, government restrictions, strikes, wars, virus outbreak, network failures or telecommunications failures.

Morningstar Disclaimer: Copyright © 2020 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The information and contents contained in this app/website are based on the analyses and interpretations of publicly available information obtained from sources believed to be reliable. Such analyses and information have not been independently verified and AASTOCKS.com Limited makes no guarantees to their accuracy, completeness, timeliness or correctness.

The information, financial market data, quotes, charts, statistics, exchange rate, news, research, analysis, buy and sell ratings, Education Center and other information on this app/website should be used as references only at your own discretion. Prior to the execution of a security or any other trade based upon the Information, you are advised to consult independent professional advice to verify pricing information or to obtain more detailed market information. AASTOCKS.com Limited is not soliciting any subscriber or app/website visitor to execute any trade. Any trades executed following the said information, commentaries and/or buy/sell ratings on this app/website are taken at your own risk for your own account.

As a convenience to users, the AASTOCKS.com Limited has added a translation feature developed by Azure OpenAI to assist users in understanding information on this platform in languages other than Chinese. The translated text may lose some of its intended meaning. Some items on the site, including images containing text, videos with captioning, PDF documents, or maps may not be translated, and some features may not work in the translated versions.

The AASTOCKS.com Limited does not guarantee the accuracy of translations, and the translated text should not be considered exact. The text translated is made available on an as is and as available basis without any warranties of any kind. The AASTOCKS.com Limited will not accept any liability for damages or losses of any kind caused by the use of the translation feature.

AASTOCKS.com Limited provides the information and services on an "AS IS" basis. The information and contents on this app/website are subject to change without notice. AASTOCKS.com Limited reserves the right, in its sole discretion but without any obligation, to make improvements to, or correct any error or omissions in any portion of this app/website at any time.

The subscriber or app/website visitor agrees not to reproduce, retransmit, disseminate, distribute, broadcast, publish, circulate, sell or commercially exploit the information and contents on this app/website in any manner without the express written consent of AASTOCKS.com Limited.

Investment involves risk. You may make use of the Education Center of this website for academic reference purposes at your own discretion. AASTOCKS.com Limited cannot and does not give any assurance that the present or future buy/sell commentaries and signals on this app/website will be profitable. AASTOCKS.com Limited cannot guarantee, and the subscriber or app/website visitor should not assume, that the future performance will equal past performance.

AASTOCKS.com Limited may point to other sites that may be of interest to the subscriber or app/website visitor but for which AASTOCKS.com Limited has no responsibility and only provides this as a service to the subscriber or app/website visitor.

AASTOCKS.com Limited does not represent or endorse the accuracy or reliability of any information, advertisements or contents contained on, distributed through, or linked, downloaded or accessed from any of the services on this app/website. AASTOCKS.com Limited cannot and does not guarantee the quality or reliability of any products or information purchased or obtained by you as a result of an advertisement or any other information displayed on this app/website.

AATV is a video platform owned by AASTOCKS.com Limited.

You acknowledge that: (i) AATV is provided for information purposes only and, in particular, is not intended for trading purposes; (ii) AATV does not and none of the information contained in its program constitutes a solicitation, offer, opinion, or recommendation by us to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services whether or not regarding the profitability or suitability of any security or investment; and (iii) AATV is not intended for use by, or distribution to, any person or entity in any jurisdiction or country where such use or distribution would be contrary to law or regulation.

The financial analysis or opinion expressed in the AATV programs is for reference and discussion only, and does not represent AASTOCKS.com Limited. Investors must make their own investment decisions based on their own investment objectives and financial situation. AASTOCKS.com Limited shall not, directly or indirectly, be liable, in any way, to you or any other person for any: (i) inaccuracies or errors in or omissions from AATV including, but not limited to, quotes and financial data; (ii) delays, errors, or interruptions in the transmission or delivery of AATV; or (iii) loss or damage arising therefrom or occasioned thereby, or by any reason of nonperformance.

AASTOCKS.com Limited reserves the right to change this Disclaimer at any time by posting changes online at this app/website. You are responsible for reviewing regularly information posted therein to obtain timely notice of such changes. Your continued use of this app / website after changes are posted constitutes your acceptance of this Agreement as modified by the posted changes.

The disclaimer herein shall be governed by the law of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") and you agree to submit to the exclusive jurisdiction of the Hong Kong courts.

In the event of any discrepancy between the Chinese and English versions, the English version shall prevail.

Last updated on 9 February 2026.