2026年度策略 | 互联网传媒:聚焦景气度细分赛道,重视AI赋能与应用

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看好游戏景气度延续,26年板块季度业绩有望再创新高。互联网潜在改善性方向:电商、本地生活与长视频行业。广告营销+影视:继续寻找α韧性与AI弹性。影视:关注政策带来的边际变化,重要档期为主要催化。通用大模型性能持续加强+成本降低,多模态往更加工具化、商业化的方向演进,为AI应用的孵化提供了较好的土壤,部分细分领域也结合主业形成了可商业化的AI应用雏形。此外我们认为需要重点关注具有云基建、模型基建以及...

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