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China’s AI crossroads: 3 divergent paths in the race for dominance
TechnologySCMP5mo ago

China’s AI crossroads: 3 divergent paths in the race for dominance

On a crisp January afternoon, the Shenzhen Bay Sports Centre, just a stone’s throw from Tencent Holdings’ headquarters, was packed with employees gathering for a party featuring celebrity cameos and prizes. But before the fun started, they witnessed a round of sober self-reflection from their low-profile leader. The New Year address by co-founder, chairman and CEO Pony Ma Huateng is an annual tradition for the social media and video gaming giant, offering its 115,000 employees rare insight in...

Kuaishou Shares Fall After Tencent Sells Stake
BusinessSCMP1mo ago

Kuaishou Shares Fall After Tencent Sells Stake

Kuaishou Technology's shares dropped over 6 percent after Tencent Holdings reduced its stake in the short-video platform by selling 273 million Class B shares. This divestment occurred just days after Tencent led a US$3 billion financing round for Kuaishou.

Why is the Hang Seng Tech Index in the doldrums while AI shares are soaring?
BusinessSCMP5mo ago

Why is the Hang Seng Tech Index in the doldrums while AI shares are soaring?

Hong Kong’s tech equity benchmark is struggling to balance the artificial intelligence frenzy and picking the right industry leaders, leading to its underperformance this year, according to analysts. The Hang Seng Tech Index, which comprises 30 technology-related companies including Tencent Holdings, Alibaba Group Holding and Meituan, has fallen 5.5 per cent this year up to Friday, giving up some of last year’s 23.5 per cent gains. In contrast, the broad-based Hang Seng Index has risen 0.3 pe...