Tencent just released earnings yesterday.
Seems to be a mixed bag of decent revenue growth with improvements across the overall business
The pattern looks like the hyper scalers of the United States (META, GOOGL etc.) in that spending has risen significantly over time on A.I infrastructure.
I have multiple questions:
1. Do you see Tencent still having overall competitive advantages that make the business durable?
2. How do you look at the increase in spending going forward? (positive for the business, something they can push to the side if it doesn't work ? )
Thanks for the input, cheers.