Tencent's latest financial report reveals a significant increase in investment in its AI strategy: R&D spending reached 70.69 billion yuan in 2024, accumulating to 391.2 billion yuan over seven years. Capital expenditure has seen triple-digit year-on-year growth for four consecutive quarters, exceeding 76.7 billion yuan for the year – a 221% year-on-year increase and a historical high.
Driven by its increased investment in AI, Tencent is accelerating AI integration across its products using a "self-developed + open-source" multi-model strategy. Its self-developed Hunyuan large model, including Hunyuan T1 and Turbo S, has been integrated into over 700 internal applications. In terms of ecosystem collaboration, Tencent Yuanbao, WeChat, IM, Tencent Docs, and other products have integrated the open-source DeepSeek-R1 model, providing users with a high-quality AI experience.
Pony Ma, Chairman and CEO of Tencent, stated, "Months ago, we restructured our AI team to focus on rapid product innovation and in-depth model research, increased AI-related capital expenditure, and significantly boosted our R&D and marketing efforts for native AI products. We believe these increased investments will yield sustained returns by improving the efficiency of our advertising business and extending the lifecycle of our games, and will create longer-term value as our personal AI applications become more widely adopted and more businesses utilize our AI services."
