人工智能周报（25年第38周）：阿里开源深度研究 Agent 模型 Deep Research，美团首款Agent“小美”公测-20250922

Investment Rating - The report maintains an "Outperform" rating for the industry [3][4][30]. Core Insights - The AI sector is showing significant impacts on the advertising business, cloud computing scenarios, and enterprise efficiency, with notable growth in Q2 for Tencent's advertising at 20% and Alibaba Cloud accelerating to 26% [2][27]. - The report highlights the full-chain layout of self-developed chips by internet companies like Baidu and Alibaba, which is expected to enhance market share [2][27]. - The report recommends focusing on the AI mainline, specifically suggesting investments in Tencent Holdings, Alibaba, Kuaishou, Baidu Group, Meitu, and Tencent Music, which are less correlated with macroeconomic fluctuations [2][27]. Company Dynamics - Baidu's AI search has reached 365 million monthly active users, leading the domestic AI search industry [15]. - Tencent has launched a professional-grade AI 3D workspace called "Hunyuan 3D Studio" aimed at 3D designers and game developers [15]. - Meituan's first AI Agent product "Xiao Mei" has entered public testing, enhancing local life service experiences [20][21]. Underlying Technology - Tongyi's first deep research Agent model "DeepResearch" has been officially open-sourced, achieving state-of-the-art results [2][22]. - ByteDance has released the Seedream 4.0 image creation model, allowing various creative modes [22]. - Alibaba has open-sourced the action generation model "Wan2.2-Animate," enabling dynamic expressions in images [23]. Industry Policy - Guangdong province is supporting AI integration with robotics to create new markets for companion toys [25]. - Sichuan province plans to establish a "computing power supermarket" by 2027, aiming for unified scheduling and efficient use of computing power [26].