行业研究报告：从工具到社交生态 SORA 2引领AI多模态转型

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10/10

Sora双箭齐发：2代铸就创意里程碑，App解锁AI社交新形态。9月30日凌晨，OpenAI Sora 2正式发布，相较早期Sora文生视频模型，Sora 2改善早期Sora音频与画面往往不同步、物理运动不够真实、人物连贯性不足等问题，实现创意领域的“ChatGPT时刻”。OpenAI同步推出一款名为Sora APP，上线第四天拿下了苹果美国应用商店App Store的免费应用榜第一名，并引入“...

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Store的免费应用榜第一名，并引入“...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025101016063294c196c0&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0070302665.USD","symbol_name":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025101016063294c196c0&s=b","article_id":"2574125991","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025101016063294c196c0&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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Store的免费应用榜第一名，并引入“客串”和“混剪”功能，发展AI+社交新模式。我们认为，OpenAI推出Sora APP这一平台性产品，本质上是从“单一对话工具”（ChatGPT）向“生态化社交平台”的核心战略转型。这一布局并非简单的功能延伸，而是针对AI产品增长逻辑的深层优化，标志着OpenAI从“AI 工具提供商”向“AI 生态构建者”的转变：通过Sora APP串联起“模型能力→用户场景→商业变现”的完整链路，既避免了因单一工具属性导致的增长乏力，更以“数据飞轮+社交网络”的双重护城河，巩固了在AI生成式内容领域的领先地位。AI视频生成商业空间巨大，Sora创新IP生成新商业模式。据Fortune business insights测算，2024年AI视频生成全球市场规模为6.15亿美元，预计2025年达到7.17亿美元，同比增长17%。预计到2032年，AI视频生成市场规模达到25.63亿美元，2025至2032年的复合增速为20%。我们认为，Sora有望由APP平台主导，形成“IP+创作者”收入分成商业模型。OpenAI正在急速构建一个围绕视频生成的、由IP驱动的新生态系统。其核心两点为“精细化控制”和“收入分成”。这意味着，Sora将不再是简单的工具，而是一个连接IP方与全球亿万创作者的经济平台。Sora有望持续AI算力“军备竞赛”，OpenAI不断宣布算力新合同。Sora 2或带来AI多模态训推算力需求指数级增长。据Factorial Funds预测，训练Sora模型一个月可能需要使用4200到10500片英伟达H100 AI加速卡。而如果使用单片H100加速卡，则生成1分钟视频需要渲染12分钟。推理阶段，Sora每单位输出1分钟视频， GPT-4和LLama 2每单位输出1000个Token的文本， DiT每单位输出一张512x512px的图像，Sora的推理估计在计算上要多耗费几个数量级。OpenAI启动超大规模算力扩张，8年内将算力能源需求或提升125倍。今年以来，OpenAI已签署了价值高达约1万亿美元的交易，从而获得运行人工智能模型的计算能力，这些协议的交易方包括AMD、英伟达、甲骨文和CoreWeave等，这些企业的利益也与OpenAI未来的盈利能力相绑定。投资建议：建议关注：1）AI多模态，其在动态内容生成精度与场景适配性上的进阶持续打开应用边界；2）AI+IP领域，依托“IP+创作者”收入分成模式构建的生态系统有望催生商业价值爆发；3）AI Agent领域，基于多模态技术的精准指令执行与场景交互能力，在更多场景具备广阔落地空间；4）AI算力领域，受多模态模型训推阶段指数级需求及巨头算力扩张驱动，相关产业链将迎来强劲增长。具体投资标的见正文。风险提示：地缘政治冲与贸易风险、技术迭代不及预期、算力供应不及预期、行业竞争加剧风险等。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}