The　rapid　advancement　of　generative　artificial　intelligence　(GAI)　and　the　extensive　use　of　social　media　have　transformed　how　students　engage　with　educational　materials　and　interact　with　their　peers.　Collaborative　learning　(CL)　platforms,　empowered　by　artificial　intelligence　(AI)　algorithms,　have　gained　popularity　due　to　their　potential　to　enhance　learning　outcomes　and　provide　personalised　educational　experiences.　This　research　examines　the　effects　of　generative　AI　(ChatGPT-4)　and　social　media　use　on　young　students＇　academic　performance　and　psychological　well-being,　focusing　on　CL.　The　study　conceptual　framework　was　examined　based　on　a　sample　of　441　Chinese　university　students.　The　statistical　technique　PLS-SEM　is　put　into　practice　to　measure　the　structural　framework　of　academic　performance　and　psychological　well-being.　The　findings　of　this　study　show　that　generative　AI　(ChatGPT-4)　and　social　media　positively　influence　young　students＇　academic　performance　and　psychological　well-being.　Additionally,　the　results　of　this　research　study　show　that　CL　positively　mediates　between　social　media,　academic　performance　and　psychological　well-being.　Conversely,　it　negatively　mediates　the　association　between　generative　AI　(ChatGPT-4),　academic　performance　(AP),　and　psychological　well-being.　The　findings　can　facilitate　a　better　understanding　of　the　implications　of　technologies　in　the　educational　context　and　subsequently　aid　in　formulating　evidence-based　strategies　to　optimise　their　impact　on　students＇s　academic　success　and　well-being.　©　2024　John　Wiley　&　Sons　Ltd.