Tencent Q4 profits surge by 90%, boosted by AI cloud revenue [Yahoo! Finance]
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Source: Yahoo! Finance
Madison Mills and StockBrokers.com director of investor research Jessica Inskip look into Tencent's fourth quarter earnings results and its spending on AI chips. To watch more expert insights and analysis on the latest market action, check out more Catalysts here Chinese gaming giant Tencent posting a fourth-quarter earnings beat on the top and bottom lines. The company's seen a 90% increase in profit from the same period in 2023. In addition to gaming, Tencent has expanded into artificial intelligence, releasing its latest model on Tuesday. The company reporting AI cloud revenue doubled for the year, but you've still got the ADRs here moving to the downside just a bit. I think it's really interesting, Jessica, in the context of what we've seen just in terms of the run-up in China and specifically Chinese tech. We had BYD announcing that five-minute EV charging yesterday. We saw that putting pressure on Tesla. Obviously, the deep seek news putting pressure on a lot of the AI name
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