Core Insights - Tencent Cloud aims to achieve profitability by 2025, having reached a break-even point and generated profits in the current year [3][5] - The growth in revenue for Tencent Cloud in 2025 is driven by products such as GPU, storage, and audio-video services, benefiting from increased AI demand and price hikes in storage [3][4] - Despite facing competition, Tencent's 3D model has received positive feedback from clients, showcasing unique competitive advantages [3][4] Revenue and Business Performance - Tencent Cloud's various business lines, including finance, education, and government sectors, have met their performance targets for the year [4] - The company has successfully expanded its overseas client base, including partnerships with companies like Kuaishou and GoTo, contributing to revenue growth [4] Strategic Shift - In 2022, Tencent Cloud shifted its strategy from focusing on market share to sustainable revenue structures, emphasizing profitability over absolute revenue [5] - The company has undergone a significant transformation, including the cessation of over 100 billion in low-profit projects to enhance profitability [5] Market Competition - The AI cloud market is rapidly evolving, with competitors like Alibaba Cloud aiming for significant market share, targeting 80% of the incremental AI cloud market in China by 2026 [6] - Other competitors, such as Volcano Engine, are also aggressively pursuing growth, with revenue targets that may surpass Tencent Cloud's [6]

专题：世界经济论坛年会_2026冬季达沃斯 来源：51CTO技术栈 今年的达沃斯，没有一个论坛不讲AI的。 那对于"中国AI+经济"的话题，又有哪些焦点需要关注呢？ 昨天，腾讯高级执行副总裁汤道生、月暗联合创始人张予彤、南开大学龚克教授，会同 GF Edge Financial Group 集团CEO Hisham Aura，来了一场圆桌对话。 如果把这场圆桌放进一个更大的时间坐标里看，它讨论的并不是"AI 会不会改变经济"，而是一个更现 实的问题：当 AI 已经开始嵌入生产体系、组织结构与个人能力时，中国正在用什么方式，把这股技术 浪潮真正变成经济动能。 "开发效率本身就是非常关键的竞争力，但不是很多公司都能做到。" 在 CGTN 主持人 Gwen 的引导下，这场围绕"中国 AI+ 经济"的对话，把视角从宏观政策、资本逻辑， 一直拉到企业一线与个体生产力的真实变化。 坐在桌前的几位嘉宾，背景差异极大，但观点却彼此咬合。 作为中国互联网巨头，腾讯汤道生从产业实践出发，给出了一个关键词——ROI 与规模化落地； 月之暗面张予彤，则从创业公司的一线视角，讲清楚中国大模型公司为何能在有限算力下逼出"效率型 创新"， ...

AI正式走到了投资舞台的中央。 截至2025年底，光模块龙头中际旭创首次"登顶"，成为公募基金的头号重仓股。另一家光模块龙头新易盛紧随其后，位居公募基金第二大重仓 股。 在公募基金前五十大重仓股名单中，还包括工业富联、寒武纪、沪电股份、东山精密、胜宏科技、深南电路、生益科技、兆易创新等AI相关 概念股。与之相对应的是，不少传统行业明星股，正在持续淡出公募重仓股名单。此前多年霸屏公募"最爱"的贵州茅台，险些跌出公募持仓前 十名。 一粒沙里看世界。基金重仓股的此消彼长，折射了社会产业变迁。对于基金经理来说，时代在快速发展，与时俱进方有未来。在技术的快速迭 代中，投资不再仅仅是关于"价值"或"成长"的标签选择，而是关于如何在一个加速变化的世界里，识别出那些能够定义未来、创造未来的企业 和生态。 一份颠覆性榜单 最新披露的公募基金季报显示，一大批"AI新贵"成为基金经理的"座上宾"。 天相投顾数据显示，截至2025年底，公募基金前五十大重仓股，主要分布在信息技术、消费品及服务、投资品等行业。其中，属于信息技术行 业的高达18只。 | 序号 | | 基金持有总市值 占流通股比例 | | 持有该股的 | | --- | ...

@所有人，QQ秀全新回归了 2003年1月24日，QQ秀首次推出。23年后的同一天，腾讯QQ宣布承载一代用户青春记忆的QQ秀全新回 归，用户在手机QQ搜索"QQ秀"即可体验。此次焕新回归的QQ秀，是QQ在AI时代下对社交场景的一次 全新探索，通过AI驱动生成虚拟形象，并深度融入核心聊天场景，为用户提供更高效、生动的个性化 表达和互动方式。 形象AI驱动：千人千面的个性化QQ秀 据悉，QQ秀在形象创建环节对AI技术进行了积极探索，降低了用户创建虚拟形象的门槛。以往用户是 手动捏脸、挑选装扮去生成一个理想中的自己，现在只需上传图片，即可通过AI驱动生成自己的专属 形象，并可在此基础上进行简单的细节调整，这种"AI驱动+轻度编辑"的方式实现了"千人千面"的个性 化表达。对用户而言，QQ秀形象不仅是兴趣与审美的投射，也是自己一部分人格的外显，同样也是一 种"理想自我"的体现。 头像活了：QQ秀实现"破框"互动 QQ秀最直观的变化，在于对社交身份标识——"头像"的突破。过去数十年，社交平台的头像始终局限 于圆形或方形的静态框架中。QQ秀首次打破了这一常规，将用户的社交头像从一张静态图片升级为一 个动态的形象。用户还可以 ...

Core Insights - Tencent QQ has announced the return of QQ Show after 23 years, allowing users to generate QQ Show content using AI by simply uploading images [1][3] Group 1: New Features - The new QQ Show supports AI generation, eliminating the need for manual styling, enabling quick creation of QQ Show by uploading images [3] - New gameplay features include dynamic avatars that can move and interact, breaking the traditional circular avatar frame [3] - Users can engage in abstract activities in group chats, such as playful battles and abstract dancing with friends [3] Group 2: Upcoming Features - Tencent QQ has indicated that another highly anticipated classic feature will soon make a comeback [3]

Core Viewpoint - Tencent's QQ has announced the return of QQ Show, coinciding with its 23rd anniversary, marking a significant update to enhance user engagement and personalization in the platform [1] Group 1: Product Update - QQ Show was originally launched on January 24, 2003, and the recent update includes features such as AI-driven personalized avatar creation [1] - Users can now transform their QQ avatars into dynamic QQ Show characters, enhancing the interactive experience [1] - For the first time, QQ Show will allow interactions within group chats, enabling users to engage with friends' avatars [1] Group 2: Historical Context - QQ Show's initial launch was well-received, reflecting a shift in China's internet landscape from basic communication tools to personalized social platforms [1] - The recent updates to QQ, including the return of the classic version and new features like Q Bubble and Flash Transfer, indicate a strategic effort to revitalize user interest and engagement [1]

Core Insights - Tencent QQ has reintroduced QQ Show, a feature that allows users to create personalized virtual avatars using AI technology, marking a significant evolution in social interaction on the platform [1][14] Group 1: AI-Driven Personalization - QQ Show utilizes AI to simplify the creation of virtual avatars, allowing users to upload images for instant avatar generation, which can then be slightly edited for personalization [4] - This approach enables a "thousand faces" personalization, reflecting users' interests, aesthetics, and ideal selves [4] Group 2: Dynamic Interaction - QQ Show breaks the traditional static avatar format by introducing dynamic avatars that can perform actions, enhancing user engagement in social interactions [9] - Users can set basic actions for their avatars, making online communication more lively and interactive [9] Group 3: Enhanced Social Features - The new QQ Show introduces interactive features in group chats, allowing avatars to respond to actions like "tap" with dynamic movements, creating a more engaging experience [12] - Specific keywords can trigger unique avatar actions, adding an element of surprise and fun to conversations [12] - This innovation fosters a collective interaction experience in group chats, enhancing the overall social engagement on the platform [12]

1月24日，腾讯QQ宣布QQ秀回归，手机QQ搜索"QQ秀"即可使用。QQ秀于2003年1月24日上线，而此 次更新恰逢23年纪念日。 根据腾讯公布的消息，此次更新包括：形象创建环节，可以使用AI驱动生成专属形象；QQ头像可以变 成动态QQ秀的小人；QQ秀首次进入群聊里和其他好友的形象互动整活。 作为QQ的经典功能，23年前QQ秀一经推出便受到用户追捧，也代表着中国互联网从单纯的通讯工具向 个性化社交平台的转变。 来源：@腾讯QQ ...

新浪科技讯 1月24日下午消息，腾讯QQ宣布，承载一代用户青春记忆的QQ秀全新回归，用户在手机 QQ搜索"QQ秀"即可体验。 据悉，此次焕新回归的QQ秀，是QQ在AI时代下对社交场景的一次全新探索，通过AI驱动生成虚拟形 象，并深度融入核心聊天场景，为用户提供更高效、生动的个性化表达和互动方式。 据悉，QQ秀在形象创建环节对AI技术进行了积极探索，以往用户是手动捏脸、挑选装扮去生成一个理 想中的自己，现在只需上传图片，即可通过AI驱动生成自己的专属形象，并可在此基础上进行简单的 细节调整，这种"AI驱动+轻度编辑"的方式实现了"千人千面"的个性化表达。此外，QQ秀首次打破了这 一常规，将用户的社交头像从一张静态图片升级为一个动态的形象。用户还可以给形象设置基础动作， 如"搬砖""摇花手""捧腹大笑"等，则头像会变成做相应动作的动态的形象。 责任编辑：郝欣煜 据悉，QQ秀在形象创建环节对AI技术进行了积极探索，以往用户是手动捏脸、挑选装扮去生成一个理 想中的自己，现在只需上传图片，即可通过AI驱动生成自己的专属形象，并可在此基础上进行简单的 细节调整，这种"AI驱动+轻度编辑"的方式实现了"千人千面"的个性化表 ...

Core Insights - The Buy Now Pay Later (BNPL) service is entering a "2.0" phase, particularly in China, where the market is experiencing strong growth, with BNPL accounting for 2% of e-commerce transaction volume and projected to reach 928.2 billion yuan in 2024, a year-on-year increase of 2% [1][9]. Group 1: Industry Overview - BNPL, also known as "buy now, pay later," is a new payment method that allows consumers to receive products before making payment, essentially functioning as a short-term credit product [4]. - The BNPL service is primarily provided by local leading applications or well-known e-commerce platforms in China, such as Ant Group's Huabei, JD's Baitiao, and WeChat's Fenfu, which significantly promote its adoption and growth [1][9]. Group 2: Market Dynamics - The BNPL industry is characterized by a high concentration of major players, with e-commerce platforms like JD and Pinduoduo leading the market by integrating BNPL services into their shopping processes [11]. - The main user demographic for BNPL services is the younger generation, who prefer flexible payment options over traditional credit cards due to simpler application processes and lower barriers to entry [9]. Group 3: Competitive Landscape - The competitive landscape of the BNPL industry is defined by a dominance of e-commerce platforms, collaboration with payment networks, and the presence of niche vertical platforms that fill market gaps [11]. - JD Group has developed its BNPL product, JD Baitiao, which allows users to enjoy flexible payment options across various scenarios, including online and offline purchases [12]. Group 4: Future Trends - Future innovations in the BNPL industry will focus on smart, personalized, and secure solutions, leveraging big data and AI for better credit assessments and utilizing blockchain for transaction security [14]. - The market competition is expected to intensify, with smaller BNPL providers facing potential acquisitions or mergers, while innovative companies may emerge as industry leaders [15]. - Regulatory scrutiny is anticipated to increase, with governments likely to implement stricter regulations on BNPL services regarding fees, terms, and transparency to protect consumer rights [16].