Tencent Holdings' shares rose more than 5% in Hong Kong on Tuesday, September 22. The rally followed the debut of Hy-Image-3.5-Preview, the company’s latest AI image-generation model.
Internal tests indicate the model's performance is comparable to rivals ByteDance and Alibaba. The launch coincided with Alibaba’s annual AI conference, intensifying competition among Chinese technology giants.
Investors are increasingly focused on companies capable of large-scale AI monetization. Analysts highlighted the WeChat ecosystem’s potential, drawing parallels to the success of Meta’s AI agent in the U.S.