According to the CITIC Construction Investment Research Report, 1) AI video models are being released intensively. Since this year, Meta, Google, Runway, Pika, ByteDance, Kuaishou, Ali, and MiniMax have all released AI video models, all of which have the ability to generate videos longer than 5 seconds, and the level of color/dynamics/quality is generally high. Taking Meta as an example, its AI video function will be integrated into social platforms such as Facebook and Instagram, and the user penetration rate will further increase. Currently, among domestic model companies, Kimi, Step Star, etc. have not released video models, and it is expected that they will be launched in the future. 2) APIs are gradually being opened up, and commercialization is expected to open up space. Recently, models such as Kuaishou, Smart Spectrum, and Runway all open video model APIs. The average fee for generating a 5-second video ranges from 0.5 yuan to 2 yuan. Looking forward to the future, as the application penetration rate of AI video increases in scenarios such as C-end entertainment and social networking, B-end video content production, etc., and the cost of superimposed APIs continues to decline, the commercialization space for AI video will open up.

According to the CITIC Construction Investment Research Report, 1) AI video models are being released intensively. Since this year, Meta, Google, Runway, Pika, ByteDance, Kuaishou, Ali, and MiniMax have all released AI video models, all of which have the ability to generate videos longer than 5 seconds, and the level of color/dynamics/quality is generally high. Taking Meta as an example, its AI video function will be integrated into social platforms such as Facebook and Instagram, and the user penetration rate will further increase. Currently, among domestic model companies, Kimi, Step Star, etc. have not released video models, and it is expected that they will be launched in the future. 2) APIs are gradually being opened up, and commercialization is expected to open up space. Recently, models such as Kuaishou, Smart Spectrum, and Runway all open video model APIs. The average fee for generating a 5-second video ranges from 0.5 yuan to 2 yuan. Looking forward to the future, as the application penetration rate of AI video increases in scenarios such as C-end entertainment and social networking, B-end video content production, etc., and the cost of superimposed APIs continues to decline, the commercialization space for AI video will open up.