Mei Ri Jing Ji Xin Wen·2025-08-12 07:22Core Insights - The rapid iteration of artificial intelligence (AI) large model technology is marked by the launch of GPT-5 by OpenAI, multiple small-sized open-source models by Tencent, and the new version of the small-sized model Qwen3-4B by Alibaba, indicating a new innovation cycle in the internet industry [1] Group 1: AI Application Development - Differentiated development of AI applications is opening up incremental space for the industry, with Kuaishou focusing on video and image generation, Alibaba exploring AI's value in e-commerce traffic operations, and Tencent leaning towards AI applications in advertising and gaming [1] - This differentiated layout enhances the commercialization efficiency of AI applications, enabling internet companies to quickly profit from technological transformation [1] Group 2: Market Valuation and Investment Opportunities - AI technology is driving a reconstruction of the valuation system in the internet industry, suggesting that the internet sector may see new investment opportunities [1] - The Hang Seng Internet ETF (513330), which heavily invests in leading internet companies like Kuaishou and Alibaba, is likely to benefit from the dividends of AI technological innovation [1]