Kuaishou Technology released its financial report for the third quarter of 2024. Both revenue and net profit achieved year-on-year growth, exceeding market expectations. The editor of Downcodes will give you an in-depth understanding of Kuaishou's latest progress in the field of artificial intelligence large models, as well as the research and development results and commercial applications of the "Ruyi" and "Keling" large models, and see how Kuaishou uses AI technology to improve user experience and business value. .
Kuaishou Technology announced in its performance announcement for the third quarter of 2024 that the company’s revenue in the third quarter reached 31.13 billion yuan, a year-on-year increase of 11.4%, exceeding market expectations of 31.03 billion yuan. Adjusted net profit was 3.9 billion yuan, a year-on-year increase of 24.4%, showing the company's strong growth momentum.
During the earnings conference call, Cheng Yixiao, founder and CEO of Kuaishou Technology, shared the company’s latest progress in the field of artificial intelligence large models.
He said that Kuaishou Technology continued to optimize the performance of the base model in the third quarter and deepened its application in content understanding, recommendation, production and user interaction. The "Ruyi" hybrid expert (MoE) model being developed by the company has multiple pre-training stage indicators exceeding the "Ruyi" 175 billion model with only tens of billions of parameters, effectively reducing the cost of model training and inference, and It can better adapt to Kuaishou’s existing business scenarios.
The "Keling" large model has also gone through multiple iterations in a short period of time. The "Keling" 1.5 model released in September supports native 1080P video and has upgraded a variety of capabilities in controllable generation, continuing to maintain its leading position in the industry. In terms of large model applications, Kuaishou Technology continues to promote the implementation of large model technology in multiple scenarios such as short videos, live broadcasts, comments, commercialization, and e-commerce, and has achieved results in user retention, commercial consumption, and increased e-commerce sales. made progress. Upgraded technology in the field of content recommendation has brought significant time growth to the market. The consumption of marketing materials based on artificial intelligence-generated content continues to increase, with average daily consumption exceeding 20 million. The interactive assistant "AI Xiaokuai" has also been integrated into more scenarios, with the peak number of monthly active users exceeding 18 million.
Since its release in June this year, "Keling AI" has more than 5 million users and has generated more than 51 million videos and more than 150 million pictures. In September, the number of monthly active users of "Keling AI" exceeded 1.5 million, and the user retention rate gradually increased. Kuaishou Technology has also launched the “Keling AI” independent APP for user convenience. On the commercial monetization side, “Keling AI” has successively launched a membership payment system to domestic and foreign users since the end of July, and officially opened API services at the end of September, covering modules such as video generation, image generation, and virtual try-on.
At present, the commercialization progress of "Keling AI" is in line with expectations, with monthly sales exceeding 10 million yuan. In the future, Kuaishou Technology will explore a more diversified monetization system and is confident that it will achieve rapid growth in the revenue scale of "Keling AI" next year.
Cheng Yixiao firmly believes that the combination of large AI models and Kuaishou's existing business scenarios can generate huge commercial value. The company will work hard to build the team's AI algorithm capabilities and strive to achieve new breakthroughs in algorithm innovation and scenario applications.
Kuaishou’s layout and progress in the field of AI are eye-catching. Its large model technology not only improves its own business, but also provides strong impetus for future development. Let us wait and see how Kuaishou continues to ride on the AI wave.