In the AI age, the landscape of artistic creation is undergoing a profound transformation. With the rise of generative models such as Midjourney and Stable Diffusion, artificial intelligence is no longer merely a tool but a co-creator, challenging traditional definitions of authorship, originality, and artistic value. This paper revisits Walter Benjamin’s theory of “aura” to examine whether digital artworks generated without a human hand can still possess aesthetic authenticity and emotional resonance. Drawing on semiotic frameworks—specifically Saussure’s signifier-signified relationship and Hall’s encoding/decoding model—this study argues that the aura of AI-generated art has not disappeared, but shifted: from material uniqueness to viewer-centered interpretation, and from authorial intent to participatory meaning-making. Through case studies of Midjourney and BOTTO, the paper illustrates how aura is reconstructed through symbolic interaction, algorithmic authorship, and cultural engagement. It further proposes a dynamic transformation mechanism of aura in the AI age, emphasizing how viewers, platforms, and algorithms co-constitute artistic value. This research provides new theoretical insights and practical implications for understanding digital creativity, post-human aesthetics, and the evolving cultural economy of AI art.