BUZZ-China media shares jump on 'breakthrough' ByteDance AI video model

Reuters02-10 11:57
BUZZ-China media shares jump on 'breakthrough' ByteDance AI video model 

** China's onshore media stocks surge on excitement over ByteDance's latest AI video-generation model

** CSI Media Index .CSI399971 jumps 5.4% by midday, while COL Group 300364.SZ, Enlight Media 300251.SZ and Jebsen 300182.SZ all hit their daily upper limits

** The CSI Film and TV Index .CSI930781 surges 10%

** ByteDance unveiled Seedance 2.0 last week, a next-generation multimodal AI video-generation model, triggering strong market chatter

** Analysts at BOC International said Seedance 2.0 marks a major functional breakthrough for AI multimodal applications, especially video creation.

** The model could sharply reduce production costs and technical barriers for AI-generated animated dramas, while boosting efficiency, they said

((li.gu@tr.com))

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