Recently, Greenwoods Asset Management, a prominent domestic private equity firm managing assets worth trillions of yuan, unveiled its outlook for the end of 2025. Gao Yuncheng, the General Manager, expressed the view that 2026 might serve as the launchpad for the genuine mass adoption of artificial intelligence agents (AI Agents). He predicted that AI Agent devices, which integrate both software and hardware components, will make a gradual entry into the market. These devices could give rise to a novel ecosystem, where mobile phones and other gadgets act as the foundational operating platforms, enhanced by large AI models. Such an ecosystem has the potential to pose a significant challenge to the currently dominant operating systems. Additionally, Gao Yuncheng also drew attention to potential risks, particularly concerning the long-term capacity to sustain cash flow for large-scale investments in AI infrastructure.