Tencent Speeds AI Spending After Sales Grow Fastest in Years
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Tencent Holdings Ltd. outlined plans to sharply raise spending on AI infrastructure after posting its fastest pace of revenue growth since 2023, showing that China’s most valuable company is intent on keeping pace with rivals in the post-DeepSeek era.
Revenue rose a better-than-projected 11% to 172.5 billion yuan ($23.8 billion) for the three months ended December, while net income almost doubled. The company also unveiled plans to buy back at least HK$80 billion worth of shares and proposed a 32% hike in its annual dividend for 2025. Shares in Prosus NV, a major shareholder, climbed more than 2% in Europe.