Internet Industry Research: GPT-6 Astra and Fable 5.1 Officially Released; Staying Positive on AI Applications
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Sinolink Securities' internet weekly (Aug 31–Sep 4, 2026) stays positive on AI applications. OpenAI released GPT-6 Astra, calling it the world's smartest and best-aligned model, alongside Anthropic's Claude Fable 5.1. Multimodal video gained catalysts: Mango TV launched China's first AIGC long drama, and Fal's H3 Max cut backend inference for 5-second 768P video to under 3 seconds, clearing the real-time livestreaming threshold. The Hang Seng Internet & IT index fell 0.57%, Hang Seng Media -2.50% and Nasdaq Internet -2.23%; Meta gained 6.7% and Oracle 5.26%, while NVIDIA agreed to acquire Hugging Face for US$12.9303bn. Bitcoin ended at US$79,671 (+0.02%) and ether at US$2,456.09 (+0.01%); Robinhood rose 17.12%. Stronger-than-expected US payrolls lifted the odds of a September rate hike, though the report sees the overall Web3.0 uptrend intact. Gaming growth for August is expected at 5-8%; music subscription growth is slowing, favoring non-subscription revenue as a second growth curve; e-commerce remains macro-hit and soft. On domestic AI, Tencent's WorkBuddy opened underlying agent capabilities with a finance edition, Alibaba upgraded Qwen3.8-Max, and Google shipped Gemini 3.8, its third Flash release in six weeks. Risks span policy, US-China relations, content performance, macro, AI iteration and regulation.
Key exhibits
Exhibit 1
