Tencent

Alibaba and Tencent spend $18B on AI in a single quarter

China's two largest publicly traded technology companies spent a combined 120 billion yuan — roughly $18 billion — on capital expenditures in the second quarter of 2026, as an AI infrastructure arms race intensifies among the country's internet giants.

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China to lift travel ban on Manus AI founders as Meta deal unwinds

Meta Platforms is completing the full unwinding of its roughly $2 billion acquisition of Manus, the Chinese-founded AI agent startup, after China's National Development and Reform Commission blocked the deal on national security grounds in April. Manus announced on Tuesday…

Tencent to buy Meta’s stake in AI startup Manus for $2B

Tencent is set to become the largest shareholder of Chinese AI developer Manus by acquiring Meta Platforms' stake in the company, Nikkei Asia reported on Thursday, completing the unwinding of a deal that Beijing blocked earlier this year on national…

CXMT overtakes Tencent as China’s most valuable company

Chinese memory chipmaker CXMT Corp. surpassed Tencent Holdings on Thursday to become the world's most valuable Chinese company, a milestone that crystallizes the market's bet on semiconductor hardware over internet platforms in the age of artificial intelligence.

Tencent’s AI spending surge ends profit growth streak

Tencent Holdings reported second-quarter revenue of 204.8 billion yuan ($30.36 billion) on Wednesday, an 11% year-on-year increase that beat analyst estimates, but net profit rose just 0.7% to 56 billion yuan as surging artificial intelligence investment weighed on earnings and…

Manus to resume independent operations as Meta deal unwinds

AI startup Manus announced on Tuesday that it will resume operating as an independent company, marking a major step in unwinding its acquisition by Meta after Chinese regulators blocked the deal on national security grounds.

Alibaba, Tencent surge as Kimi K3 fuels rotation into Chinese AI stocks

Shares of Alibaba and Tencent surged in Hong Kong on Monday as investors rotated out of battered semiconductor stocks and into Chinese internet platforms seen as beneficiaries of cheaper, more competitive open-weight AI models following Moonshot AI's launch of Kimi…

Luggage maker’s filing pegs DeepSeek valuation at about $52B

A routine investment disclosure by a Chinese luggage maker has inadvertently offered one of the first concrete, public data points for the market valuation of DeepSeek, the artificial intelligence company that has become a focal point of U.S.-China tech competition.

Tencent’s Hy3 AI model sees 68x usage surge, tops global leaderboard

Tencent's flagship large language model Hy3 has seen its total API call volume grow more than 68 times compared to its predecessor Hy2, just one week after its official launch on July 6, according to the company's Tencent Hunyuan team.…

DeepSeek prepares mainland China IPO filing for late 2026

Chinese artificial intelligence startup DeepSeek has begun preparations for an initial public offering on a mainland Chinese stock exchange, with a filing targeted for as soon as late 2026 and a public debut planned for 2027, Bloomberg reported on Monday.…

Tencent leads bid to buy back Manus from Meta for $2B

Tencent Holdings is in discussions to become the largest shareholder of Manus, the Chinese-founded agentic AI startup, as a consortium of investors moves to unwind Meta's blocked $2 billion acquisition of the company, the Financial Times reported on Wednesday.

MiniMax plans 2.7 trillion-parameter open-weight AI model, the largest from a Chinese firm

Chinese AI startup MiniMax Group is developing a large language model with 2.7 trillion parameters that it plans to release as open-weight software as early as this quarter, according to a report by Reuters on Tuesday, in what would be…

Hong Kong stocks rally as investors rotate from chips into Chinese tech

Hong Kong stocks rallied sharply on Tuesday as investors rotated out of crowded artificial intelligence chip plays and into Chinese technology names, sending the Hang Seng Index up 2.38% to reclaim the 24,000-point level. The move came as South Korea's…

Tencent launches Hunyuan Hy3 AI model under Apache 2.0 license

Tencent on Monday officially launched Hunyuan Hy3, the full release of its next-generation large language model, iterating on the preview version introduced in April and positioning the Chinese tech giant as an increasingly competitive force in open-source AI.

Tencent seeks up to $1.55B from Kuaishou stake sale

Tencent Holdings is seeking to raise as much as $1.55 billion by selling part of its stake in Chinese short-video platform Kuaishou Technology, according to a term sheet reported by Reuters on Monday.

China’s tech stocks trail world by most since 2001

Chinese technology stocks are enduring their worst stretch in a quarter century, with the MSCI China Index tumbling 15% in 2026 — its worst global performance after Indonesia — as investors grow increasingly skeptical that the country's tech giants can…

DeepSeek plans to double its 170-person team after raising $7.4B

Chinese artificial intelligence startup DeepSeek announced plans to at least double the size of all its departments, marking the company's most aggressive hiring push since its founding. The Hangzhou-based firm shared the recruitment drive through a statement on WeChat on…

Tencent shares surge as WeCom rolls out DeepSeek-powered AI agent

Tencent shares rose as much as 6% in Hong Kong on Wednesday, marking their largest intraday gain in three weeks, after the company began a limited rollout of Dayuan — a new AI agent for its enterprise communication platform WeCom,…

Tencent negotiates exits from Japan game studios to fund AI push

Tencent Holdings is negotiating exits from several game studio investments in Japan, including Tokyo-traded Marvelous, as part of a sweeping reassessment of its global portfolio, according to people familiar with the matter.

Tencent begins testing AI assistant Xiaowei inside WeChat

Tencent confirmed on Monday that it has begun limited testing of a new AI assistant called Xiaowei inside WeChat, embedding artificial intelligence directly into China's dominant super app as the company works to close a gap with domestic rivals in…