世纪互联跌9.42%，亿咖通科技跌5.99%，金生游乐跌6.32%，虎牙跌5.39%，金山云跌3.50%。 来源：滚动播报 ...

每经AI快讯，2月18日，中概股涨跌不一，纳斯达克中国金龙指数跌0.10%。个股方面禾赛科技涨近 4%，华住集团涨近3%，中通快递涨超2%，好未来、腾讯音乐跌逾3%，金山云、贝壳跌逾2%。 ...

每经AI快讯，2月17日，热门中概股盘前多数上涨，禾赛涨近4%，金山云涨超3%，百度涨超1%；AI应 用股走低，SAP SE跌近3%，Applovin跌近2%，Palantir、Snowflake跌超1%。 ...

来源：格隆汇APP 格隆汇2月17日｜热门中概股盘前多数上涨，其中，禾赛涨近4%，金山云涨超3%，百度涨超1%；AI应 用股走低，SAP SE跌近3%，Applovin跌近2%，Palantir、Snowflake跌超1%。 ...

智通财经APP获悉，大和发布研报称，近期市场波动，重申对2026年上半年中国股市的乐观展望，刺激 政策季可能持续至四月。虽然仍认为大规模刺激政策的可能性较低，但渐进式刺激措施的推出与强劲的 政策保证，短期内可提振投资情绪，惠及该行首选股中的华润置地(01109)与美的集团(000333.SZ)。由 于下游需求强劲带动涨价预期，该行将老铺黄金(06181)与金山云(03896)纳入首选名单。 ...

大和发布研报称，近期市场波动，重申对2026年上半年中国股市的乐观展望，刺激政策季可能持续至四 月。虽然仍认为大规模刺激政策的可能性较低，但渐进式刺激措施的推出与强劲的政策保证，短期内可 提振投资情绪，惠及该行首选股中的华润置地(01109)与美的集团（000333）(000333.SZ)。由于下游需 求强劲带动涨价预期，该行将老铺黄金(06181)与金山云(03896)纳入首选名单。 ...

智通财经APP获悉，美银证券发布研报称，本周观察到中国AI行业多项瞩目进展。字节跳动发布 Seedance 2.0具备先进多模态能力的次世代视频生成模型。智谱(02513)推出旗舰级GLM-5，编程及推理 性能提升，同时由于需求强劲，将其GLM编程方案对新用户加价至少30%。另外，DeepSeek更新模 型，上下文窗口延长且知识更即时。MiniMax M2.5于其海外代理平台开放测试。公有云方面，优刻得 (688158.SH)宣布所有产品及服务的续约及新订单加价。 总体而言，该行看好数据中心领域的世纪互联(VNET.US)及万国数据(09698)，以及公有云领域的金山云 (03896)。 该信息由智通财经网提供 该行认为这对中国数据中心板块带来关键影响，包括国内AI龙头大模型迭代加速，模型训练带动数据 中心需求增强；编程、推理及多模态能力提升，或会加快企业及开发者采用，带动推理端数据中心需求 上升；云服务商上调公有云价格，或进一步稳定IDC租赁定价趋势。公有云方面，AI需求强劲或进一步 支撑云服务价格，并推动硬件/记忆体成本上升的转嫁。 ...

Core Insights - The Chinese AI industry has reached a critical turning point, shifting from a technological arms race to tangible commercialization and demand explosion, driven by advancements in large models from companies like ByteDance and Zhipu AI [1] - The end of the prolonged price war in cloud computing is indicated by rising prices for API services and public cloud offerings, signaling a return of pricing power to sellers [1][5] Group 1: AI Model Developments - ByteDance's Seedance 2.0 showcases advanced multimodal capabilities, particularly in next-generation video generation technology [2] - Zhipu AI's flagship model GLM-5 has significantly enhanced programming and reasoning performance, contributing to a substantial increase in computational demand [2] - The computational requirements for generating video content are dramatically higher than for text, indicating a potential market shift towards increased demand for computational infrastructure [2] Group 2: Pricing Dynamics - Zhipu AI has raised its GLM code pricing by at least 30% for new users due to strong demand, while UCloud has announced price increases for all products and services [5] - The rising prices are attributed to increased hardware costs and a reversal in supply-demand dynamics driven by surging AI workloads [5] - The price increases from cloud service providers are expected to stabilize IDC rental prices, marking the establishment of a market bottom and the beginning of a profit recovery cycle [5] Group 3: Infrastructure Companies - Century Internet is positioned to benefit directly from ByteDance's AI expenditures, with a target price increase from $15.1 to $17.9, reflecting a faster revenue growth outlook [6] - For GDS Holdings, the target price has been raised from $50.0 to $56.7, with a valuation method that reflects a 14x EV/EBITDA for its China business and a higher multiple for its international operations [7] - Kingsoft Cloud is expected to benefit from Xiaomi's ecosystem strategy, with a maintained target price of $17.0, indicating a favorable position in the recovering cloud service market [8]

总体而言，该行看好数据中心领域的世纪互联(VNET.US)及万国数据(09698)，以及公有云领域的金山云 (03896)。 该行认为这对中国数据中心板块带来关键影响，包括国内AI龙头大模型迭代加速，模型训练带动数据 中心需求增强；编程、推理及多模态能力提升，或会加快企业及开发者采用，带动推理端数据中心需求 上升；云服务商上调公有云价格，或进一步稳定IDC租赁定价趋势。公有云方面，AI需求强劲或进一步 支撑云服务价格，并推动硬件/记忆体成本上升的转嫁。 美银证券发布研报称，本周观察到中国AI行业多项瞩目进展。字节跳动发布Seedance2.0具备先进多模 态能力的次世代视频生成模型。智谱(02513)推出旗舰级GLM-5，编程及推理性能提升，同时由于需求 强劲，将其GLM编程方案对新用户加价至少30%。另外，DeepSeek更新模型，上下文窗口延长且知识 更即时。MiniMax M2.5于其海外代理平台开放测试。公有云方面，优刻得(688158.SH)宣布所有产品及 服务的续约及新订单加价。 ...

Group 1 - The report from Daiwa indicates that if the GDP target for 2026 is set at around 5% during the National People's Congress on March 5, it may suggest stronger economic stimulus measures are forthcoming [1] - The anticipated fiscal stimulus is expected to focus on fixed asset investment, consumption, and real estate [1] - Daiwa maintains an optimistic outlook for the Chinese stock market in the first half of 2026, with the stimulus policy season likely extending until April [1] Group 2 - The likelihood of large-scale stimulus policies remains low, but the introduction of gradual stimulus measures along with strong policy assurances could boost investment sentiment in the short term [1] - Companies such as China Resources Land and Midea are expected to benefit from these developments as part of Daiwa's preferred stocks [1] - Due to strong downstream demand driving price increase expectations, companies like Laopu Gold and Kingsoft Cloud have been added to the preferred list [1]