Streetbeat News

TCEHY

Tencent Holdings Ltd.

https://www.tencent.com/

CEO

Huateng Ma

Employees

116,213

Tencent Holdings Ltd. is a Chinese multinational technology and entertainment conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the largest company in the video game industry in the world based on its investments, with Tencent Games being the subdivision of Tencent Interactive Entertainment Group (IEG) focused on publishing of games.

Open

67.59

Mkt cap

619B

Volume

High

68.42

P/E Ratio

30.93

52-wk high

69.99

Low

67.59

Div yield

0.01

52-wk low

36.24

China's approval of 104 new video games, including titles from Tencent and Alibaba, has positively impacted the gaming industry. NetEase's stock rose by 2.91% following the news. The market has been recovering since Beijing resumed licensing video games in April 2022.

Portfolio Pulse from Anusuya Lahiri

June 26, 2024 | 4:41 pm

OpenAI, backed by Microsoft, plans to restrict access to its AI tools in China starting in July. This move aligns with U.S. efforts to limit China's access to advanced AI technology. Chinese tech giants like Alibaba and Tencent-backed Zhipu AI are urging developers to switch to their products.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 11:55 am

Netflix has acquired the international rights to Tencent's Chinese series 'See Her Again,' marking a rare pre-buy move. This acquisition highlights Netflix's continued focus on Asian content following the success of series like 'Squid Game.'

Portfolio Pulse from Chris Katje

June 24, 2024 | 4:46 pm

Chinese tech workers are facing intense pressure and overtime demands amid slow company growth and layoffs. JD.com founder Richard Liu warned employees against prioritizing work-life balance, indicating a push to eliminate underperforming IT engineers. Companies like Pinduoduo are being seen as models for rigorous work hours. Alibaba and Tencent have also laid off thousands of staff since 2021.

Portfolio Pulse from Benzinga Neuro

June 24, 2024 | 12:41 pm

JPMorgan analyst Alex Yao has shifted his stance on China's tech sector, predicting a 20-25% increase in stock prices due to improved cost structures and macroeconomic stabilization. ETFs like KWEB, MCHI, and FXI offer exposure to this potential growth.

Portfolio Pulse from Benzinga Neuro

June 20, 2024 | 10:08 am

Broadcom Inc. (NASDAQ: AVGO) is making significant strides in the datacenter and AI Ethernet switching market, holding an 80% market share. JPMorgan analyst Harlan Sur highlights Broadcom's innovation with its Tomahawk series, which is ahead of competitors like Nvidia, Marvell, and Cisco. Broadcom's AI networking silicon revenues are expected to triple in 2024, driven by the upcoming Tomahawk 6 chipset. The company is also working on the 2nm Tomahawk 7, ensuring it stays ahead in the market.

Portfolio Pulse from Surbhi Jain

June 17, 2024 | 12:04 pm

Sumo Group, owned by Tencent Holdings Ltd, announced layoffs affecting 15% of its workforce, impacting around 250 employees. This decision is part of a broader trend in the gaming industry, with companies like Take-Two Interactive, Microsoft, and Square Enix also announcing layoffs.

Portfolio Pulse from Franca Quarneti

June 12, 2024 | 7:02 pm

Alibaba has launched Qwen2, an advanced AI model that claims to outperform Meta's Llama 3 in specific tasks. The company is also expanding its cloud computing services globally and aims for double-digit growth in 2024. Alibaba's stock has declined 9% over the past year but is currently trading higher.

Portfolio Pulse from Anusuya Lahiri

June 10, 2024 | 4:58 pm

Nvidia faces competition from Huawei's new AI chip, the Ascend 910B, which reportedly matches or surpasses Nvidia's A100 in some tests. This comes amid US export restrictions on Nvidia's advanced GPUs to China. Huawei's AI strategy has gained traction domestically, with major Chinese tech firms adopting its chips. Despite technological challenges, Huawei's AI chips present substantial competition to Nvidia within China. Nvidia's market valuation recently surpassed $3 trillion, but its shares were trading lower by 1.15% at $1,196.05.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 1:56 pm

Amazon.com Inc (NASDAQ:AMZN) has agreed to purchase certain assets of Indian video streaming service MX Player from Times Internet for under $100 million. This acquisition aims to enhance Amazon's presence in smaller Indian cities and towns. The deal concludes nearly two years of discussions and is part of Amazon's strategy to expand its video streaming offerings in India. MX Player holds a 15% market share in India's video streaming market, which is dominated by Reliance and Walt Disney Company (NYSE:DIS).

Portfolio Pulse from Shivani Kumaresan

June 06, 2024 | 12:17 pm

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