Meituan CEO Wang Xing: AI models and products will support core business, we won't become a 'Token factory'
Summary
Meituan CEO Wang Xing stated in the Q2 earnings call that AI is a comprehensive upgrade for Meituan, but the company will not become a 'Token factory'; AI models and products will support its core business, enhancing user, merchant experience and operational efficiency. He also mentioned that fully domestic training and inference capabilities provide long-term cost and infrastructure controllability advantages. Earlier, Meituan released the trillion-parameter model LongCat-2.0.
Bubble analysis
This news does not directly involve investment or capex, but Wang Xing explicitly stated that Meituan will not blindly invest in AI compute or become a 'Token factory', focusing instead on AI's practical value for its core business. This reflects a rational corporate attitude toward AI investment returns, which may slightly cool the bubble narrative.
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