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Tencent expects a spending surge as it presses AI returns

CNBC Earnings reports Tencent was down 26% in 2026 year to date as competition in China and higher AI spending weigh on sentiment.

Reported · Written up by our desk · Previews

Tencent expects higher spending as it works to generate what it describes as superior AI returns, as it faces intense competition in China, CNBC Earnings reports.

Investors are also growing jittery about the company’s rising spend, at a time when Tencent’s shares are under pressure.

CNBC Earnings said Tencent stock is down 26% so far in 2026, reflecting market caution toward the pace and cost of its AI push.

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