According to the Securities Times App, the AI market is expected to heat up, with AI companies expected to benefit from the new round of technological innovation by AIAgent. Fourth paradigm (06682) rose more than 6% against the market, achieving nine consecutive gains. As of the time of publication, it increased by 6.78%, reaching HK$36.95, with a turnover of 0.304 billion Hong Kong dollars.

Guotou Securities released research reports stating that since 2024, the market's expectations for AI have been very high. Due to its applications being implemented domestically and internationally lower than expected, after going through these twists and turns, the market's expectations for AI have shifted from large models, large model applications to direct advancement in various computing platforms, hardware clouds, or end sides, meaning the market no longer prefers which large model (self-owned or external) to use, large model parameter iterations, application resource endowment of the industry leader, but rather prefers strong verification indicators such as real advancement of profits, income, market share/users, and so on.

The bank believes that AIAgent, as a new round of technological innovation, is expected to bring improvements in business models and valuations to existing companies. For AI companies like Fourth Paradigm, they can leverage AIAgent to smoothly expand or switch from the traditional to B-to-B business model to B-to-C, expanding their business scope and optimizing financial statements (increasing gross margin); for large model manufacturers, leveraging AIAgent, they can expand their business scope to various end sides, synchronously exploring the landing applications of large models in the virtual and physical worlds.