Kuaishou Technology announced in its Q3 2024 earnings report that the company's revenue for the third quarter reached 31.13 billion RMB, a year-on-year increase of 11.4%, surpassing market expectations of 31.03 billion RMB. The adjusted net profit was 3.9 billion RMB, up 24.4% year-on-year, demonstrating the company's strong growth momentum.
During the earnings call, Kuaishou Technology's founder and CEO Cheng Yixiao shared the company's latest progress in the field of large artificial intelligence models.
He stated that Kuaishou Technology has continuously optimized the performance of its foundational large model in the third quarter and deepened its applications in content understanding, recommendation, production, and user interaction. The "Kuaiyi" mixture of experts (MoE) model, with a parameter scale of only several hundred billion, has surpassed multiple pre-training stage indicators of the "Kuaiyi" 175 billion model, effectively reducing the costs of model training and inference, and better adapting to Kuaishou's existing business scenarios.
The "Keling" large model has also undergone multiple iterations in a short period. The "Keling" 1.5 model, released in September, supports native 1080P video and has upgraded various capabilities in controllable generation, maintaining its industry-leading position. In terms of large model applications, Kuaishou Technology continues to advance the deployment of large model technology across multiple scenarios, including short videos, live streaming, comments, commercialization, and e-commerce, achieving progress in user retention, commercial consumption, and increasing e-commerce sales. The upgraded technology in content recommendation has significantly increased viewing duration. The consumption of marketing materials generated by artificial intelligence continues to rise, with daily consumption exceeding 20 million, and the interactive assistant "AI Xiaokuai" has been integrated into more scenarios, with peak monthly active users surpassing 18 million.
Since its launch in June this year, "Keling AI" has attracted over 5 million users, generating more than 51 million videos and over 150 million images. In September, the monthly active user count for "Keling AI" exceeded 1.5 million, with user retention gradually improving. Kuaishou Technology has also launched a standalone "Keling AI" app for user convenience. On the commercialization front, "Keling AI" has gradually introduced a membership payment system to domestic and international 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-ons.
Currently, the commercialization progress of "Keling AI" is in line with expectations, with monthly revenue exceeding 10 million RMB. In the future, Kuaishou Technology will explore more diversified monetization systems and is confident in achieving rapid growth in "Keling AI" revenue scale next year.
Cheng Yixiao firmly believes that the combination of AI large models with Kuaishou's existing business scenarios can generate tremendous commercial value. The company will strive to enhance its team's AI algorithm capabilities, aiming for breakthroughs in algorithm innovation and scenario applications.