Tencent, Hon Hai Ride AI Wave as China-US Tech Rivalry Grows
An artificial intelligence exhibit at Tencent Holdings’ offices in Shanghai, China.
Photographer: Qilai Shen/BloombergTencent Holdings Ltd. and Hon Hai Precision Industry Co. are expected to show how stronger AI demand lifted earnings, signaling optimism for Asia’s broader ambitions in the field amid a tug-of-war for AI dominance against US rivals.
With a deep pool of customer data, Tencent is set to dominate AI in China, ahead of Baidu Inc., Bloomberg Intelligence said. The group’s ability to incorporate AI across its platforms and rely on it for cost savings gives it a “solid” position in China’s cloud computing industry, providing an additional route to market and revenue source.