海外科技巨头动向持续验证AI叙事，国内科网龙头优化AI战略布局

Group 1 - Major overseas tech companies like Microsoft, Google, Meta, Amazon, and Apple have released their Q1 2025 financial reports, highlighting strong capital expenditure (Capex) in the AI sector despite macroeconomic challenges and rising hardware costs [1] - Tencent plans to reshape its AI strategy with an expected capital expenditure of around 100 billion yuan in 2025, based on a projected revenue and a low double-digit percentage of Capex [1] - Alibaba's cloud division, Alibaba Cloud, announced a 7 billion yuan investment over the next three years to build an international localized ecosystem, including the establishment of six overseas service centers [1] Group 2 - The Hang Seng Internet ETF (513330) supports T+0 trading and focuses on the internet platform economy, including major companies like Alibaba, JD.com, Tencent, Meituan, Kuaishou, and Baidu, with an AI content of 97% and DeepSeek content of 86% [2]