高盛发报告指，认为2026年是中国互联网巨头的关键战略转折年，因AI面向消费者（To-C）领域投资将逐步加大，围绕打造AI超级入口的竞争会愈发激烈，同时各大巨头也将更加协调一致地捍卫各自的核心头部地位。
高盛预计，2026年部分大型及中小盘股有望创造超额收益，并推荐每股盈利兑现/增长、AI及全球化带来的叙事转变，以及股东回报这三大投资主题。
该行同时更新季度子板块偏好排名，将云计算与数据中心、游戏与娱乐及AI模型列为前三。巨头股中，拼多多因其估值折让、强大的性价比且Temu增长强劲，成为其重点推荐的巨头个股。
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