Nomura: Kaggle AI needs to push new features to cope with intense competition.

Nomura Securities analysts pointed out in their research report that facing increasingly fierce market competition, Kuaishou's AI division Kaleido urgently needs to launch innovative features to maintain competitiveness. After achieving 300 million RMB in revenue in the third quarter, Kuaishou has raised Kaleido AI's revenue forecast for 2025 from $100 million to $140 million. However, analysts pointed out that Kaleido AI's total transaction volume fluctuated in September and October, coinciding with the rising popularity of its two main competitors, Sora 2 and Veo 3. As the text generation video track continues to heat up, competition between existing participants and newcomers is expected to intensify. "Leading companies like Kaleido AI must continue to accelerate innovation in order to retain users."