AI应用狂飙+反内卷，港股互联网ETF（513770）暴拉5.36%，资金溢价狂涌，GEO概念股迈富时猛涨32%！

Group 1 - The core point of the article highlights a significant surge in the Hong Kong stock market, particularly in AI-related stocks, with the Hong Kong Internet ETF (513770) rising by 5.36% and attracting a net inflow of 572 million yuan over the past five days [1][3][4] - Major AI companies are leading the commercialization of AI applications, with Alibaba's Qianwen App achieving over 40 million monthly active users and a 102% increase in daily revenue for Kuaishou's AI services compared to December 2025 [3][12] - The market sentiment is driven by a combination of industry inflection points, capital catalysis, and positive funding flows, indicating a shift from foundational model competition to practical commercialization [12][5] Group 2 - The article identifies two main investment themes: the competition for consumer AI entry points and the breakthrough of vertical applications in the B2B sector, emphasizing the importance of companies with industry expertise and embedded AI solutions [12][5] - The Hong Kong stock market is home to several technology giants that possess computational resources and application capabilities, making it an attractive investment landscape for AI-related ventures [5][12] - The top ten weighted stocks in the Hong Kong Internet ETF include major players like Alibaba, Tencent, and Kuaishou, collectively accounting for over 78% of the ETF's weight, showcasing the dominance of these companies in the AI sector [6][13]