Tencent Holdings Ltd.
Coverage of Tencent Holdings Ltd. in the Nexus archive.
- DeepSeek said to tell backers of funding pause after viral posts
DeepSeek has paused its second fundraising round following viral comments from founder Liang Wenfeng about the US-Chinese AI competition. The suspension is partly due to frustration over online reports about his prior remarks, and the company may resume fundraising later. DeepSeek aims to raise at least 10 billion yuan for expansion and has begun preparations for an IPO.
- Stockard on the Stump: Congressional candidate says he’ll drop Chinese military stocks
Tennessee Sen. Brent Taylor previously owned stocks in three Chinese-connected companies, two of which are Pentagon-designated Chinese military firms. He claims President Trump endorsed him for being tough on China but has instructed his broker to sell any holdings linked to Chinese businesses. Taylor also holds Starbucks stock, which has faced scrutiny for liberal leanings following a state grant.
- Chinese companies are ditching Nvidia’s advanced accelerators for domestic AI suppliers
Chinese companies are shifting from Nvidia's AI accelerators to domestic alternatives amid US-China tensions, with 46% of future budgets allocated to local products. Tencent, Alibaba, and Huawei are leading this transition, supported by a 2 trillion yuan government initiative to build AI-driven data centers using domestic technologies.
- Prosus Profit Jumps as Bets on E-Commerce Businesses Pay Off
Prosus reported a more than doubled profit last fiscal year, driven by growth in its e-commerce businesses and increased value of its stake in Tencent. The results exceeded analysts' estimates.
- Pentagon accuses Alibaba, Baidu and BYD, three of China’s biggest companies, of supporting the Chinese military
The Pentagon accused Alibaba, Baidu, and BYD of supporting the Chinese military, updating its 1260H list of companies aiding the People’s Liberation Army. The move, which includes Tencent and two Chinese memory chipmakers, triggered stock declines and could precede trade restrictions, though the companies have denied supporting the military.
- Tencent Aims to Raise $3 Billion in Dollar, Yuan Bond Offering
Tencent Holdings Ltd. aims to raise $3 billion through a bond offering in both dollars and yuan. The company's video games are showcased in a showroom at its Shenzhen headquarters.