Core Viewpoint - The year 2026 is anticipated to be a critical year for AI business models, shifting investment focus from CAPEX to Revenue and DAU [1] Group 1: Investment Focus - Investment priorities will be directed towards sectors with high earnings certainty, including computing infrastructure, power equipment, and leading semiconductor companies [1] - The market's discussion on AI bubble theories suggests that while some bubbles may exist, it is crucial to be cautious of companies that lack performance support [1] Group 2: AI Market Dynamics - The penetration speed of AI is faster than previous internet industry transformations, requiring higher standards for companies' competitive advantages [1] - In the AI era, possessing proprietary data and a deep understanding of vertical scenarios may represent the true barriers to entry, contrasting with the previous reliance on traffic for competitive advantage [1]
平安基金林清源：2026年或是AI商业模式的“大考之年”
Zhong Zheng Wang·2026-01-22 14:43