Tencent Holdings

Hong Kong’s debt market is surging, with Tencent Holdings and Swire Pacific raising over US$5.2 billion in multi-currency bonds, including US dollars, offshore yuan, and Hong Kong dollars. This highlights Hong Kong’s growing role as an international bond hub.

Yao Shunyu, former OpenAI researcher and Tencent's chief AI scientist, dismissed concerns about the company's AI progress, stating the race is a long-term game. He highlighted opportunities in coding agents and embodied intelligence, comparing AI development to the 1970s PC era.

Tencent Holdings' shares surged up to 8% due to investor optimism over reports of an upcoming AI agent within WeChat, which has 1.4 billion active users. Tencent is testing a prototype and plans to start the compliance process this month for a public launch, according to a Financial Times report citing anonymous sources.

Goldman Sachs predicts the latest Hang Seng Index review will increase its market capitalization by 4.5%, raising it to $2.15 trillion, with additions including BeOne Medicine, Chalco, and J&T Global Express. The review is expected to attract buying interest in stocks like Tencent Holdings and biotech firm BeOne Medicine.

Liu Wei, a distinguished AI scientist and head of Tencent's Hunyuan generative AI team, departed from the Chinese tech giant in late 2024 after more than eight years. His sudden departure raises questions about China's competitive position in large language models, though the country may still have opportunities to lead in broader AI applications. The article suggests China faces challenges in the LLM race but retains potential advantages in other AI domains.

China's 'Seven Titans' tech stocks have declined as deflationary pressures outweigh the AI boom's positive impact. The slump highlights economic challenges overshadowing advancements in artificial intelligence.