公司：腾讯控股 (0700 HK) 核心观点与论据 * 人工智能作为增长乘数 通过游戏（虚拟队友）、营销服务（点击率提升）、AI原生应用（日活跃用户数排名前三）以及内部生产力提升（AI销售代表效率提升3倍 编码效率提升34%且耗时减少10%）赋能公司全部业务线[1] * 混元大模型持续迭代 过去一年发布30多个混元模型 包括最新的混元3D模型（从文本和图像创建高分辨率3D资产） 目标是经济高效地部署强大的推理服务[1] * 腾讯云海外扩张强劲 过去三年海外市场收入实现高双位数复合年增长率 过去一年国际客户数量同比增长一倍[1][14] * 帮助国内客户出海 90%的互联网客户和95%的头部游戏公司选择腾讯云作为出海合作伙伴[1][14] * 腾讯云计划在沙特和日本建立新的数据中心 并在雅加达、新加坡、法兰克福等地设有9个技术支持中心[14] * 企业级AI应用取得显著进展 腾讯会议AI功能用户数同比增长150% 乐享知识库的AI问答使用量增长18倍 AI响应准确率达92% CodeBuddy支持公司内部50%的新代码生成 减少超40%编码时间并提升16%研发效率[10][11] * 中国AI应用加速 adoption 日token消耗量从2024年初的100亿+激增至2025年6月的3万亿+ 增长300倍[1][14] * 腾讯过去8年累计研发投入达3800亿元人民币 拥有8.8万项全球专利[14] 财务与估值 * 投资评级为买入 12个月目标价701港元 较当前价645港元有8.7%上行空间[6] * 交易于19倍2026年预期市盈率（剔除投资组合为16倍） 较全球同业存在显著折价（Meta为26倍 谷歌为24倍）[6] * 一致的股东回报政策[6] * 非国际财务报告准则每股收益预测：2025年27.69元 2026年31.74元 2027年35.02元[6][15] * 收入增长预测：2025年13% 2026年10% 2027年8%[15] * 毛利率趋势：从2023年的48.1%提升至2025年预期的56.1%[15] 风险因素 * 效果广告行业竞争加剧[7] * 游戏上线或版号审批意外延迟[7] * 金融科技和云业务增长慢于预期[7] * 再投资风险[7]

股价表现 - 百度美国存托凭证价格大幅上涨超过11% [1] - 同期标普500指数下跌0.1% [1] 分析师评级调整 - Jefferies分析师Thomas Chong将目标价从108美元大幅上调至157美元 [2] - Arete分析师Richard Kramer将评级从卖出上调至买入 目标价设定为143美元 [5] - 两家机构在连续两个交易日内相继发布看涨观点 [1][5] 人工智能业务进展 - 公司全面快速拥抱人工智能技术 预计对基本面产生积极影响 [4] - 与大型企业建立AI合作关系取得显著成功 [4] - 成为人工智能云服务收入领域的顶级盈利企业 [4] - 自主研发昆仑AI加速芯片 形成差异化竞争优势 [4]

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As Big Tech companies ramp up their capital expenditures, rising depreciation costs are threatening their margins and Wall Street seems to be vastly underestimating the impact. ...

SAN DIEGO, Sept. 17, 2025 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Snap Inc. (NYSE: SNAP) securities between April 29, 2025 and August 5, 2025, both dates inclusive (the “Class Period”), have until Monday, October 20, 2025 to seek appointment as lead plaintiff of the Snap class action lawsuit. Captioned Abdul-Hameed v. Snap Inc., No. 25-cv-07844 (C.D. Cal.), the Snap class action lawsuit charges Snap and certain of Snap’s top executives w ...

美股市场表现 - 道指开盘上涨0.04% 标普500指数下跌0.03% 纳指平开 [2] - 百度股价上涨超8% 杰富瑞将目标价上调至152港元 [2] - New Fortress Energy股价上涨超38% [2] - Lyft股价上涨超15% [2] 公司动态与合作协议 - 美国能源基础设施公司New Fortress Energy达成40亿美元液化天然气供应协议 向波多黎各供应液化天然气 [2] - Lyft与Waymo达成合作 将自动驾驶出行服务扩展至美国纳什维尔 [2] 行业关注焦点 - 百度近期AI发展吸引市场关注 [2]

微信功能更新 - 微信聊天支持发送实况照片 功能于9月16日上线 目前仅支持iOS客户端 版本要求8.0.61及以上 安卓及鸿蒙系统正在适配中[1][3] - 实况照片发送时默认关闭状态 需在大图预览页面手动开启 接收方需点击左下角"实况"按钮查看完整效果 并支持保存至系统相册[3] - iPhone 6s、6s Plus及SE等旧机型暂不支持该功能 该功能正逐步上线中[4][5] 公众号智能回复功能 - 微信上线公众号"智能回复"功能 由腾讯混元大模型提供技术支持 可自动学习历史文章信息及回复风格 作为"数字分身"回复后台私信[6][7] - 功能支持通过添加知识库和编写Prompt定制回复内容 目前已向个人创作者全量开放 可提升后台留言处理效率[7] - 该功能可快速检索历史文章内容 解决读者遗忘往期内容的问题 减轻创作者运营压力[7]

Reddit (NYSE:RDDT) is in early discussions with Google (NASDAQ:GOOG) (NASDAQ:GOOGL) for their next content-sharing agreement, according to a report by Bloomberg on Wednesday. The new agreement would allow deeper integration of Reddit's content into Google’s AI products. The new partnership would ...

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks Analysts Say You Should Watch Closely. On September 5, Tigress Financial Partners analyst Ivan Feinseth raised the price target on the stock to $280.00 while maintaining a Strong Buy rating. According to the firm, Alphabet’s continues to benefit from its “AI-driven leading position across every major secular technology trend” which is in turn driving strong revenue, cash flow, and profitability. Meanwhile, a recent favorable Chrome decision has removed ...

President Trump’s potential deal to avoid a TikTok ban is taking shape – with several prominent US tech and investor firms set to take majority control of the China-owned app.Under the proposed terms, a group including billionaire Larry Ellison’s Oracle, Silver Lake and Andreessen Horowitz would form a new entity overseeing TikTok’s US operations, The Wall Journal reported, citing people familiar with the matter.The US group will reportedly own a combined stake of approximately 80%, with Chinese investors h ...