Tencent Q1 revenue and profit miss as AI spending ramps up with Hunyuan 3.0 launch

Investors wanted growth, but Tencent bet big on Hunyuan 3.0

Tencent Holdings reported a first-quarter revenue and net profit that fell short of market expectations, even as gaming revenue rose on the back of popular titles and online advertising gained. The company’s sharper focus is on artificial intelligence, including the launch of its advanced Hunyuan 3.0 large language model, signaling a bid to catch up with major rivals.