Investment Rating - The industry rating is "Outperform the Market" [15] Core Insights - The establishment of the Keling AI division by Kuaishou on April 30, 2025, signifies an increased focus on AI commercialization, with the division being a primary business unit alongside others like e-commerce and internationalization [3] - Keling AI has shown significant revenue growth, with a monthly revenue exceeding 10 million yuan and an annual recurring revenue (ARR) surpassing 100 million USD as of March 2025 [4] - Continuous innovation is highlighted by the introduction of the ReCamMaster video generation model, which allows users to reframe existing videos along new camera trajectories [5] Summary by Sections Industry Dynamics - Kuaishou's Keling AI division is structured with product, operations, and technology departments, reporting directly to the CEO [3] - The division's revenue trajectory indicates strong market demand and successful monetization strategies [4] Investment Recommendations - The report suggests focusing on internet companies with AI initiatives, including Kuaishou, Tencent, Alibaba, Bilibili, Meitu, and Baidu [6]

作者 | 刘宝丹 编辑 | 黄昱 距离ChatGPT出圈已经过去两年多，AI大模型的重心仍在技术迭代上，商业化步伐缓慢。在这种情况 下，快手蹚出了一条AI商业化之路。 5月27日，快手发布2025年第一季度业绩，实现收入326亿元，同比增长10.9%，表现稳健；实现经调整 净利润46亿元，经调整净利润率达14%。整体来看，快手一季度业绩符合市场预期。 相较于乏善可陈的线上营销服务和直播等核心业务，快手在新业务层面打开了局面。一季度，快手首次 实现单季度海外整体层面的经营利润转正，更积极的信号是，可灵AI单季营收达1.5亿元。 这是一份喜忧参半的财报。对快手来说，喜的是AI和国际化展现出较强的第二增长曲线势能，忧的是 要想在竞争激烈的国内市场守好基本盘，依然阻碍重重。 值得注意的是，快手的用户增长进一步放缓。一季度，快手月活用户为7.12亿，同比增长2.1%。根据 QuestMobile数据，截至2025年3月，中国移动互联网月活跃用户规模达到12.59亿，同比增长2.2%。 开拓 在成立14年后，快手还有更艰难的硬仗要打。 苦守 作为短视频平台，快手的核心收入主要来自线上营销服务、直播和其他服务等，在整个互联 ...

可灵的下一步：优先保证模型效果、聚焦专业生产者做渗透。 文 丨 高洪浩 《晚点 LatePost》独家了解到，快手在今日成立了可灵 AI 事业部。该事业部下设可灵 AI 产品 部、运营部和技术部，负责可灵、可图等系列大模型业务，快手高级副总裁盖坤担任可灵 AI 事业部负责人，继续兼任社区科学线负责人。 与此同时，社区科学线下成立基础大模型与应用部，负责 LLM 大模型、多模态理解大模型以 及应用技术研发。 调整后， 可灵 AI 将作为与主站、商业化、电商、国际化、本地生活并列的一级业务部门，向 快手董事长兼 CEO 程一笑汇报。这也是近 3 年时间里，快手唯一成立的独立事业部。 可灵与可图分别是快手自研的视频生成大模型与图片生成大模型。2025 年 3 月 25 日的快手财报电话 会上，快手 CEO 程一笑称，目前可灵 AI"图生视频" 功能的综合效果处于全球第一。 根据官方数据，自商业化以来至今年 2 月，可灵 AI 累计营业收入已超过 1 亿元。我们了解到，可灵 AI 今年前三个月的营收，已超过 2024 年下半年的总和。 一位快手人士称，AI 一直是快手的公司级战略，此次组织升级，意味着可灵 AI 在快 ...

Core Viewpoint - The article discusses the rapid evolution and diversification of AI tools leading up to 2025, highlighting their transformative impact on work and daily life, similar to the internet and smartphones [2][4][82]. Group 1: AI Dialogue Tools - ChatGPT is noted for its comprehensive functionality and wide application, although it has shown signs of stagnation in innovation [9][10]. - Doubao excels in understanding Chinese context and offers a user-friendly experience, making it a popular choice among domestic users [11][12]. - Gemini integrates Google's powerful search capabilities with AI dialogue, providing real-time information retrieval [13][14]. Group 2: AI Writing Tools - DeepSeek R1 is recognized as the strongest open-source model in China, particularly effective for creative writing [16][17]. - Claude is acknowledged for its high-quality writing and coding capabilities, making it a valuable tool for professionals [21][23]. - Grok is characterized by its humorous and engaging responses, suitable for social media content creation [25][26]. Group 3: AI Drawing Tools - Jimeng is tailored for Chinese users, excelling in generating artwork that reflects Eastern aesthetics [30][31]. - Kuaishou's Ketu is a simple and effective AI drawing tool that supports Chinese prompts [32][33]. - Whisk allows users to create art by uploading images, offering a unique and intuitive approach to artistic creation [35]. Group 4: AI Video Tools - Keling is highlighted as a leading domestic video generation tool, achieving high-quality outputs [44][45]. - Pika, founded by Chinese creators, offers excellent dynamic element integration in videos [47][48]. - Runway is recognized for its pioneering role in AI video generation, although it is noted for its higher pricing [50][51]. Group 5: AI Audio Tools - Hailuo AI is praised for its natural-sounding voice generation and precise cloning capabilities, making it ideal for content creators [55][57]. Group 6: AI Programming Tools - Cursor is noted for its professional capabilities but has a steeper learning curve [61][64]. - Windsurf is more user-friendly, suitable for beginners [62][66]. - Trae, developed by ByteDance, offers a seamless user experience with Chinese language support [66]. Group 7: AI Search Tools - Perplexity.ai is recognized as a pioneer in AI search tools, enhancing information accuracy [68][69]. - Nano AI Search, launched by Zhou Hongyi, has gained popularity for its comprehensive features [71][72]. - Meta Search focuses on academic research, providing tools for knowledge management [73]. Group 8: AI Music Tools - Suno is highlighted as a leading AI music creation tool, supporting various styles [74][75]. - Haimian Music, developed by ByteDance, is user-friendly and accessible [76][77]. - MusicFX, from Google, is noted for its simplicity and high-quality music generation [78][80].