国联民生证券指出，港股通互联网行业行业竞争格局趋于稳定，各公司战略重点从激进扩张转向追求利 润与现金流。当前，行业估值处于历史低位，市场情绪主要受宏观流动性预期及地缘政治等因素压制， 而非基本面恶化。展望未来，随着美联储降息周期演绎，叠加国内经济温和复苏，板块有望迎来估值修 复。长期来看，人工智能等新技术的应用将开启新的增长曲线，但短期商业化贡献有限。行业整体已进 入高质量、可持续的发展新阶段。 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供参 考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构成 投资建议或承诺。提及基金风险收益特征各不相同，敬请投资者仔细阅读基金法律文件，充分了解产品 要素、风险等级及收益分配原则，选择与自身风险承受能力匹配的产品，谨慎投资。 港股互联网ETF国泰（513720）跟踪的是港股通互联网指数（931637），该指数从港股通范围内选取涉 及互联网软件开发、家庭娱乐软件、互联网零售及服务等业务的上市公司证券作为指数样本，以反映这 些互联网相关上市公司证券在港股通内的整体表现。该指数聚焦于"软科技"发展趋势 ...

【导读】微信更新"面对面收照片和文件"功能，无需流量、不用添加好友 中国基金报 晨曦 综合整理 微信又有新功能上线！ 近日，微信员工"客村小蒋"发布微博称，微信最近更新了"面对面收照片和文件"的功能，在"扫一扫"的"我的二维码"入口中可以体验。无需流量，不用添 加好友，和对方设备保持靠近即可高速接收原始照片、视频和文件。 微信首页点击右上角"+"再点击"扫一扫"； 点击左下角"我的二维码"； 点击"面对面收照片和文件"； 具体操作路径如下： 对于应用场景，官方给出两个案例：一是春节、婚礼、同学聚会等场合，不用建临时群，手机拍摄的照片、视频可"秒传"给其他亲友、同学，不担心压缩 画质和流量消耗。二是跨系统的"快捷传输"：iOS有"隔空投送"，安卓有互传联盟，新功能可以解决跨系统近距离传输的需要。 腾讯公司公关总监张军也发布微博宣传微信的"面对面收照片和文件"功能。此外，他提到QQ也有面对面快传功能，欢迎大家体验。 对方扫码后即可向你发送照片、视频及文件。 近期，多名博主分享对该功能的测试心得，均对传输速度表示肯定，认为适合面对面分享大文件。该功能解决了苹果端和安卓端的视频传输需要，对自媒 体运营、授课收集作业、 ...

新华财经北京2月25日电 2026年马年春节落下帷幕，一场由腾讯、阿里巴巴、字节跳动、百度、京东、 美团、快手共同参与的AI"生态战"也迎来终局。据不完全统计，各大厂春节期间共投入超45亿元，其中 腾讯元宝主会场抽奖超36亿次，发放拼手气红包超1100万次；千问带动1.3亿人首次体验AI购物，用户 用AI买电影票的订单环比增长372倍；豆包除夕互动量达19亿次，生成祝福超1亿条。 网经社电子商务研究中心数字生活分析师陈礼腾表示，2026年春节AI红包大战是国内AI行业从技术比 拼转向全民场景争夺的信号。从各家战报来看，三大玩家走出了截然不同却目标一致的路径。豆包依托 春晚独家AI合作，凭借超高互动量和多模态玩法，把春节流量转化为AI入口认知，在品牌与用户规模 上占据明显优势。阿里千问则通过"免单+消费"组合拳，将红包直接绑定真实消费场景，用巨额投入验 证了AI带动交易的可行性，在下沉市场和本地生活上取得突破性增长。腾讯元宝则依托微信生态，以 社交裂变和群内AI互动稳住基本盘，用低成本完成用户渗透，守住了社交场景的AI入口。 "从战报数据也能看出，行业集中度正在快速提升，头部平台凭借资金、技术、生态形成明显壁垒 ...

AI应用借着春运的人潮开始了"下沉" 今年春节，AI应用完成了一次"下乡"。 数据显示，这场由阿里巴巴、字节跳动、腾讯等互联网科技巨头们掀起的春节流量卡位战，总投入超过了80亿元，其野心早已 不满足于一线城市的白领，而是要触及每一个归乡游子背后的家庭。 战果确实惊人。腾讯元宝在活动期间日活跃用户冲过5000万，除夕当天豆包的AI互动总量达到19亿次，阿里千问春节期间下单 近2亿次。这些在大城市"拼"了一年的科技产物，终于借着春运的人潮和数十亿的红包，流向了县城、乡镇以及父母辈的手机 里。 在千问公布的数据里，近半数AI订单来自县城及乡镇，超400万60岁以上用户让AI帮忙下了单。蚂蚁阿福的新增用户里，一半以 上来自三线及以下城市。 但热闹之外，真正的考验才刚刚开始。当红包活动结束、年轻人返城，那些留在父母手机里的AI应用，能否在日常里找到一个 不可替代的位置？这或许是喧嚣过后，AI下沉真正的难题。 返乡的"AI推广员" 26岁的山东女生黄姚（化名）返乡回家第二天，就在父母手机上装上了"千问"app。 春节期间，千问APP启动"30亿春节大免单"活动，黄姚在用完自己的免单额度后，邀请父母成为了两位新用户，红包到 ...

今年春节，Tech星球以一个普通游客和消费者的身份，在山东聊城、河北保定、河南郑州、湖北武汉及北京等地，亲身体验了本地生活服务领域的新变 化。 退休的父母已经会"货比三家"，选择最合适的团购平台购买景区门票；村里的草莓种植户在大棚现场直播，借助补贴吸引客流，周边10公里内的消费者 被"种草"后驱车前来采摘；学会精打细算的年轻人，在不同平台比价，下单电影票、唱KVT、玩转剧本杀桌游洗浴；一大家子的年夜饭，在刚推出还没一 个月的新APP里预订7-8人团圆餐，团购价639元比单点便宜40元...... 这些发生在身边的真实细小的事情，都共同指向一个趋势：互联网直播和团购平台已不再是年轻人的专长，而是渗透进了县城和乡村的毛细血管，甚至改 变了中老年人的消费习惯。 下沉新事，当县城里中老年人学会团购与直播 大年初三，我来到老家的一个景区，坐落在山东聊城临清市的东宛园。出发前一天，刷抖音时偶然刷到景区文旅节活动，顺手在线上团了门票。 一到景区大门，打开抖音订单里的二维码，对准验证机轻轻一扫，"滴"的一声瞬间通关，全程不到10秒。 旁边一位阿姨正举着手机略显局促地求助工作人员，她的门票是女儿在抖音上帮着团购的，自己不懂怎么 ...

Core Insights - The AI competition among major companies has intensified during the recent Spring Festival, with significant cash incentives and promotional activities [1][2][4] - Companies are focusing on three main areas of AI competition: AI empowerment, independent AI applications, and AI hardware [9][25] Group 1: AI Empowerment - Major companies are embedding AI capabilities into traditional business models, such as Alibaba's Quark browser transforming into an "AI Super Box" by March 2025 [10] - Tencent plans to launch Qbot, an intelligent assistant, in May 2025, enhancing its QQ browser with various AI functionalities [10] - Baidu will transition its traditional search box to an "intelligent box" by July 2025, marking a shift towards AI-driven search [11] - Meituan has launched an AI life assistant named "Xiao Mei" [12] - The integration of AI has positively impacted some business segments, with Tencent's marketing services revenue reaching 36.2 billion yuan in Q3 2025, a 21% increase year-on-year [16] Group 2: Independent AI Applications - Companies are shifting focus to independent AI applications as AI empowerment alone does not alter the competitive landscape [18] - Alibaba's "AI Super Entrance" strategy has pivoted to its Qianwen app, which has surpassed 30 million monthly active users by December 2025 [19] - Doubao continues to leverage sponsorships, such as the Spring Festival Gala, to maintain its leading position in the market [20] - Current AI applications show limited daily usage time, with the highest being around 10 minutes per user [22][23] Group 3: AI Hardware - The competition has expanded from software to hardware, with the launch of the Doubao phone in December 2025, which sold out within a day [25] - The rapid success of the Doubao phone has prompted other companies to restrict access to their platforms on this device [26] - AI glasses have also gained popularity, with Alibaba's Quark AI glasses S1 selling out immediately and a significant increase in global smart glasses shipments [29] - Predictions indicate that global smart glasses shipments could exceed 40 million units by 2029 [30] Group 4: Strategic Directions of Major Companies - Alibaba focuses on providing tool value through its AI applications, aiming to assist users in various tasks [33] - Tencent emphasizes social value, with its "Yuanbao" platform allowing users to invite friends through social media [36] - ByteDance's Doubao offers emotional value, creating a personalized and engaging user experience [41] - The strategies of these companies reflect their core strengths, with Alibaba addressing practical needs, Tencent focusing on social interactions, and ByteDance enhancing emotional connections [43]

超45亿元，几大巨头疯狂投入，马年春节的入口之争，不是结束，甚至不是结束的开始，而只是开始的结束。 "领了几块钱红包，薅了一杯后，就再没有打开过它了。""如果平时不常用，那么留一个图标也没任何意义。""它不仅要会干活，还要更懂我们的情 绪"…… 马年春节已过，字节、阿里、百度、腾讯四家巨头用45亿元砸出的这场中国AI历史——甚至互联网史上最大规模用户入口争夺战，喧嚣渐散。 从目前趋势看，胜负格局初步显现：字节豆包守擂成功，继续领跑；阿里千问攻势凌厉，一度登顶但未能完成反超；腾讯元宝起跑最早，却快速滑落；百 度砸下5亿，似乎再次印证"起大早赶晚集"的魔咒。 真正让人遗憾的是美团——这家曾被视为"AT"之外第三极的生活服务巨头，几乎完全缺席。当阿里用30亿元将AI直接嵌入"点奶茶、买电影票"的消费闭 环时，美团护城河第一次显得如此岌岌可危。 所有人都很清楚，所谓AI入口之战，本质是下一个时代的"船票"争夺。但潮水退去，一个根本性问题浮出水面：撒钱能买来流量，但买不来留存，字 节、阿里、百度、腾讯、美团之所以能拥有自己的江湖地位，从不是靠烧钱硬生生打出来，而取决于产品能否将技术和工具变成真正生产力，能否和人们 日常 ...

From personalised recommendations to automated workflows, AI has moved from a nice-to-have feature to a core technology. And, few companies are as deeply integrated into this shift as Alphabet Inc. (NASDAQ: GOOG). AI has already been woven into the company’s platforms that are used by billions of people everyday. From Google Search and YouTube advertising, to cloud services used by businesses worldwide. Although the AI excitement has pushed up valuations across the tech sector, Alphabet has yet to be re-rat ...

February 17, 2026 12:06 AM GMT Internet | North America What APP and U Had to Say About AI Disruption We lay out key takeaways from APP and U's commentary at earnings, as the companies addressed the AI disruption bear case head on. We came away incrementally confident in their ability to lean into emerging opportunities and adopt these new tools going forward. Key Takeaways APP and U Pushed Back on the Recent AI Disruption Narrative, Highlighting Opportunities Rather than Risks... Over the past several week ...

MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy (NASDAQ: XEL) announced today it will power a new Google data center in Pine Island, Minnesota. The data center and associated Electric Service Agreement will provide a significant contribution to the state's economy, including a large buildout of new clean energy projects that will contribute to Minnesota's clean energy goals while ensuring that Xcel Energy's current customers benefit as a result of this growth. Data centers serve as the core infrastructure that po ...