ByteDance Ltd. is integrating its artificial intelligence developer products into its Doubao super-app to enhance its chatbot capabilities and strengthen its position against rivals like Tencent Holdings Ltd.

The former lead architect of Alibaba Group Holding Ltd.'s flagship AI model has founded a new startup focused on building AI agents, securing significant backing from Tencent Holdings Ltd. and other Chinese venture capital firms.

CXMT Corp. has surpassed Tencent Holdings Ltd. to become the most valuable Chinese company, a shift attributed to the AI-driven surge in demand for memory-chip stocks.

Tencent Holdings Ltd.’s spending plans, particularly on artificial intelligence, will draw investor scrutiny as investors cool on lavish outlays in the sector.

Tencent Holdings Ltd.'s revenue surpassed analyst estimates, boosted by a surge in WeChat advertising sales and resilient performance in its gaming division, as the company continues to develop its artificial intelligence capabilities.