Goldman Sachs: Maintains "buy" rating on KUAISHOU-W(01024), expects fourth quarter AI revenue forecast to be raised.

Goldman Sachs released a research report stating that Kuaishou-W (01024) recently launched the "Keling O1" of LING AI, positioning it as the first large unified multimodal creation tool. They will continue to release O1 image editing models and more model upgrades this week. With the launch of Keling O1, Goldman Sachs believes that the market may raise its revenue forecast for LING AI business in the fourth quarter of this year. The current valuation of the LING business is approximately $4.6 billion. They maintain a "buy" rating for Kuaishou, with a target price of HK$83. In the past few months, enterprise demand for Keling models has increased rapidly, now accounting for about 40% of its revenue. Goldman Sachs believes that Kuaishou continues to expand its overseas business development team and attract more enterprise customers in advertising, TV series production, and various industries. They believe that this could become a major growth driver in the next one to two years. The revenue forecast for LING AI business this year is expected to exceed $140 million, and by 2026, it is expected to grow to between $230 million and $240 million.