Major Bank Ratings | Citi: Expects AI Themes to Focus on Three Main Directions This Year, Favors Tencent and Alibaba as Core AI Beneficiary Stocks
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By:格隆汇
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Glonghui January 6th|Citi published a research report stating that the China internet sector performed exceptionally well in 2025, leading major global markets with a 31% increase. Looking ahead to 2026, China’s AI theme is expected to become the core focus of the internet industry, with market expectations centering around three main directions: first, the sustained revenue growth driven by cloud infrastructure and inference token usage; second, the battle for traffic entry points among AI chatbots, as major internet companies accelerate their efforts to capture key traffic gateways in the AI era to monetize future ecosystems; and finally, vertical players maintaining their lead and enhancing user stickiness and monetization potential through proprietary data AI agents trained in-house. In terms of investment targets, the bank favors Tencent and Alibaba as core AI beneficiaries; Trip.com and NetEase demonstrate resilience with robust profitability; while J&T Express shows growth potential in cross-border business.
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