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Tencent misses revenue estimates, amid doubling AI spending
Tencent reported a 9% year-over-year revenue increase for the first quarter of 2026. Total revenue reached 196.5 billion yuan ($28.9B). This result fell short...
DeepSeek eyes $45B valuation, led by China's state-backed Big Fund
China’s state-backed Big Fund is in discussions to lead a funding round for AI startup DeepSeek. The potential investment values the company at approximately...
ByteDance and Kuaishou slash microdrama costs 90%, fueling $16.5B market
China’s microdrama industry is projected to exceed $16.5 billion by 2026. The sector serves 660 million users as the primary application for AI video....
Tencent launches Hy3 AI model, led by former OpenAI researcher
Tencent released and open-sourced Hy3-preview, its latest flagship artificial intelligence model. Former OpenAI researcher Yao Shunyu led the development of...
Tencent and Alibaba Target DeepSeek, Doubling Valuation to $20 Billion
Tencent and Alibaba discuss an investment in the artificial intelligence startup DeepSeek. The company seeks a valuation that could exceed $20 billion. This...
Tencent Launches QClaw AI Beta Globally After Rapid China Growth
Tencent launched an international beta for its QClaw AI agent. The tool utilizes the OpenClaw open-source framework. Non-technical users can deploy the agent...
Epic Games Cuts 1,000 Jobs, Citing Fortnite Engagement Slump
Epic Games is laying off more than 1,000 employees. CEO Tim Sweeney cited a decline in Fortnite player engagement as the primary driver. The company currently...
Tencent launches ClawBot AI on WeChat, escalating China's tech rivalry
Tencent launched ClawBot to integrate the OpenClaw open-source AI agent into its WeChat messaging app. More than one billion monthly active users can now...
Tencent Shares Jump 6.2% on WorkBuddy Launch as AI Agent Race Intensifies
Tencent Holdings' shares rose as much as 6.2% in Hong Kong following the launch of WorkBuddy, an artificial intelligence agent for workplace tasks. The launch...