genai / news / / CNBC TV18
Alibaba and Tencent miss revenue estimates but see US shares rise as they boost heavy AI investment.
Alibaba expects AI revenue to triple in 2024, surpassing 30 billion yuan by year-end.
KEY POINTS
- Alibaba plans to list its T-Head chip unit, recently securing China Unicom as an external client.
- Alibaba consolidated AI operations under a new business group called Alibaba Token Hub.
- Tencent upgraded its Hunyuan AI model via OpenRouter and adopted third-party models like DeepSeek.
- Both Alibaba and Tencent prioritize long-term AI growth over near-term profitability, altering investor focus.
COMPANIES
Summarized by Newsio from CNBC TV18. How we summarize →