Wall Street banker Bernstein listed Tencent and Alibaba as key promising companies in China's internet sector, believing that both companies are expected to reap rewards through AI applications. On the Tencent side, Bernstein believes that the market has underestimated the potential value of AI platforms and personal intelligence services such as Tencent Workbuddy and Hy4. Tencent has obtained a considerable return on investment through advertising and gaming businesses, and the current risk-to-return ratio is still attractive. On the Alibaba side, although Bernstein recently lowered Alibaba's target price, it still maintains a “outperforming market” rating. The agency anticipates that Alibaba Cloud's growth will continue to exceed market expectations, and that the company will also receive good returns from AI investment. However, the agency also pointed out that investors still want to see more evidence that smart AI can actually drive the growth of total commodity transactions and marketing revenue. Furthermore, Bernstein is also optimistic about direct recruitment from NetEase and BOSS, believing that the two companies each have independent drivers for business growth.

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