S&P underscores early gains from Tencent strategy

S&P underscores early gains from Tencent strategy

S&P Global Ratings believes Chinese internet giant Tencent’s growing core business and AI investments could lead to longer-term improvements in its competitiveness, forecasting annual capex to exceed CNY80 billion ($11 billion) for the next two years. In a research note, the ratings company expects Tencent’s AI-related spending to continue to rise, with the company substantially increasing its procurement of AI chips to fulfil strong demand, bot…