以下文章来源于侃见财经 ，作者侃见财经 侃见财经 . 看见不一样的财经！ 作者：侃见 财经 来源： 侃见 财经 全球AI浪潮强势来袭，商业化爆发"奇点"临近。 4月28日晚间，昆仑万维发布2025年一季度业绩报告，其中显示，公司一季度实现营业总收入 17.6亿元，同比大幅增长46%。整体毛利率高达69%，继续保持在较高水平。 侃见财经翻看这份财报，最直观的感受是： 昆仑万维"All in AGI与AIGC"的战略决心愈发坚定， 且一系列最新数据印证了公司"AI商业化拐点"已经出现。 财报显示，昆仑万维各条AI业务线的商业化正在加速落地。截至一季度末，AI音乐年化流水收入 ARR达到约1200万美元（月流水收入约100万美元）；短剧平台Dramawave年化流水收入ARR 达到约1.2亿美元（月流水收入约1000万美元）；AI社交应用 Linky单月最高收入突破100万美 元，月活跃用户达到300万，成为海外收入增长速度最快的中国AI应用之一。 这一系列数据向外界传递的信号是，昆仑万维正在加速AI商业化进程，且AI出海战略也迎来了收 获期。 今年一季度，昆仑万维全球化战略成效显著，实现海外业务收入达16.7亿元 ...

Group 1: AI Going Global Landscape and Opportunities - The current global AI going-out landscape is divided into North America, Europe, and Southeast Asia, with technological innovation and localization being key opportunities and challenges for companies [4] - Companies must invest in localization as it is a necessity rather than an option, as many enterprises have faced elimination due to neglecting this aspect [4] - There is an opportunity for "arbitrage between different language systems," particularly in the Japanese and Korean markets, where competition is lower compared to Europe and the US [4] Group 2: AI Application Growth and Infrastructure - AI applications have entered a rapid growth phase, with a significant increase in the number of applications globally, where China accounts for 356 out of 1890 applications, with 143 being overseas products [7][8] - The cost of running inference models is decreasing, with annual reductions exceeding 90%, making it more feasible for companies to adopt AI solutions [7] - Companies need to choose GPU services that can provide global data center coverage and elastic scaling capabilities to support their AI applications [8] Group 3: AI Native Applications and Database Importance - The transition to AI native applications requires three key pillars: large models, Model Context Protocol (MCP), and databases designed for large language models (LLMs) [12] - Traditional databases are often not designed for LLMs, which necessitates a new approach to data storage and access to support personalized services [12] Group 4: Compliance and Legal Challenges - Companies must navigate complex legal and regulatory frameworks when going global, focusing on areas such as data protection, consumer rights, and intellectual property [18] - A systematic compliance management strategy is essential, including establishing AI regulatory teams and developing internal policies to address potential risks [18] Group 5: Successful Strategies for Going Global - Companies like PixelBloom have successfully captured market share by leveraging AI products and creating a complete commercial loop from user acquisition to vertical market penetration [22] - VAST is building a creator ecosystem through its 3D model platform, focusing on community engagement and open-source technology to foster growth [26] - Bocha AI is entering the global market with its LangSearch API, which has seen significant usage and aims to compete with established players like Bing [29][30] Group 6: Sustainable Global Expansion - The current domestic market is characterized by severe homogenization, prompting companies to seek opportunities abroad, particularly in regions like the Middle East and Japan [33] - Companies should focus on deepening their understanding of local markets and developing differentiated, industry-specific applications to create sustainable competitive advantages [33]

Group 1 - The core viewpoint of the article highlights the rapid advancement and global competitiveness of China's AI industry, particularly in the context of AI models and applications, driven by both domestic innovation and favorable external conditions [1][12]. - The Chinese AI industry is categorized into three stages of international expansion: the general tools era, the localized application era, and the ecosystem innovation era [11][25]. - The article emphasizes the significant progress in China's AI technology, with six Chinese tech companies ranking in the top ten for new generative AI patents in 2024, indicating a leading position in patent volume and technological capabilities [10][12]. Group 2 - The article outlines the driving factors for China's AI internationalization, including supportive policies and regulations, as well as the increasing global demand for AI solutions [5][7]. - It discusses the various revenue models for AI-generated content (AIGC) overseas, including subscription-based, pay-per-use, and advertising revenue, catering to different user preferences and market needs [18]. - The article identifies key potential markets for Chinese AI companies, particularly in Southeast Asia, North America, and Latin America, due to their high internet penetration and youthful demographics [25][31]. Group 3 - The article notes that user willingness to pay is higher for general assistant products and image/video editing applications, which are increasingly popular in both work and life scenarios [31]. - It highlights the trend towards more sophisticated AI interactions, moving from text-based to multimodal capabilities, enhancing user experience and functionality [32]. - The article mentions that the demand for AI products is becoming more specialized, with users expecting advanced features and seamless functionality across different applications [35]. Group 4 - The article lists prominent players in the Chinese AI export market, including ByteDance and its various AI products aimed at different user segments, showcasing a diverse range of applications from office assistants to AI-driven social interactions [36]. - It describes the marketing and payment solutions provided by companies like Airwallex and iFlytek, which support the global expansion of AI enterprises through innovative financial and marketing strategies [51][52]. - The article emphasizes the importance of cloud solutions, particularly from Alibaba Cloud, in facilitating the internationalization of Chinese companies by providing essential infrastructure and services [57][58].

Core Viewpoint - The article emphasizes the need to focus on themes with high earnings certainty and low valuation levels amid increasing external disturbances and a cooling market environment [1][2]. Market Overview - The A-share market is experiencing a decline in theme performance, with previous popular themes retreating and dividend assets showing resilience [2]. - External factors such as the upcoming implementation of "reciprocal tariffs" by the U.S. and the ongoing Russia-Ukraine conflict are contributing to increased uncertainty [2][3]. - Internally, China's economy is characterized by fiscal stimulus and structural optimization pressures, with market liquidity and activity continuing to decline [2]. Catalytic Factors - The imminent implementation of U.S. "reciprocal tariffs" on April 2 is expected to heighten external uncertainties and impact global trade dynamics [3][7]. - The OFC 2025 conference will focus on three core areas: AI computing networks, 6G evolution, and quantum communication, which are anticipated to be significant for the integration of light communication and AI technologies [6]. - A technology salon hosted by Volcano Engine and Intel will explore various AI applications and solutions, highlighting trends in multi-modal AI and its market potential [6]. Recommended Themes - The article suggests focusing on three main themes: earnings surprises, rising chemical raw material prices, and U.S.-China geopolitical tensions [1][2][7]. - The chemical raw material price increase is expected to benefit from price hikes by international chemical giants and supply disruptions in specific sectors [7].