finance.yahoo.com

Tencent Shares Dip 1% as Its AI-Chip Bet Targets Nvidia in China

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Sig2.45Sen+0.82Env0.00Soc0.00Gov0.00

Tencent shares fell 0.99% to HK$438.40 while investors weigh its backed push to challenge Nvidia’s hold on China’s roughly $90 billion AI-chip market. The challenger Enflame raised $908 million at a $9.1 billion valuation after 1,475% first-quarter sales growth, but it still loses money. Tencent remains about 18% below GF’s $69.41 value estimate.

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