Tencent's AI focus has come with increased spending, with the company's capital expenditure of 2024 totaling 76.8 billion yuan — more than tripling from 23.89 billion in 2023. Tencent said some of this spending went toward servers and graphics processing units.
Tencent said it has re-organized teams and that the increased investments will boost growth.
"Starting a few months ago, we have reorganised our AI teams to sharpen focus on both fast product innovation and deep model research, increased our AI-related capital expenditures, and increased our R&D and marketing efforts for our AI-native products," Tencent said in its earnings statement.