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☆ Beijing takes 'golden share' in a Tencent subsidiary, records show
▼ + stars: | 2023-10-19 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

A man rides an electric bike past the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. Tencent, the world's largest video game company and the operator of the WeChat messaging platform, declined to comment. Shenzhen Yayue Technology, whose business involves information technology and internet services, was previously 100% owned by a Tencent subsidiary before the stake change took place on Wednesday, according to Qichacha. The Financial Times first reported Beijing's plan to acquire a golden share in a Tencent subsidiary earlier this year. In the case of ByteDance, the Chinese government took a board seat in Beijing ByteDance Technology with its 1% stake.

Persons: David Kirton, Ma, Josh Ye, Brenda Goh Organizations: REUTERS, Tencent Holdings, HK, Shenzhen Yayue Technology, Oc, China Internet Investment Fund, Alibaba, Reuters, Financial Times, Beijing ByteDance Technology, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, HONG KONG, Shenzhen Yayue, TikTok, Beijing

☆ China watchdog fines Tencent over illegal content on its messaging platform
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: 1 min

A man rides an electric bike past the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. REUTERS/David Kirton Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - China's cyberspace regulator has imposed a fine of 1 million yuan ($137,390.95) on Tencent Holdings (0700.HK) due to what it said was illegal and pornographic information on its messaging platform Tencent QQ, the regulator said on Wednesday. Tencent QQ's security center said it accepted the fine and would take actions to improve the platform. ($1 = 7.2785 Chinese yuan renminbi)Reporting by Beijing newsroom. Editing by Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

Persons: David Kirton, Tencent, Jane Merriman Organizations: REUTERS, Rights, Tencent Holdings, HK, Beijing, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, Rights BEIJING

☆ China's Tencent says large language AI model 'Hunyuan' available for enterprise use
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: 1 min

A man rides an electric bike past the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. REUTERS/David Kirton/File Photo Acquire Licensing RightsBEIJING, Sept 7 (Reuters) - China's Tencent Holdings (0700.HK) said its large language artificial intelligence (AI) model "Hunyuan" will be available for enterprise use from Thursday. The AI model has more than 100 billion parameters, the technology major said. Reporting by Beijing Newsroom; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: David Kirton, Christopher Cushing Organizations: REUTERS, Rights, Tencent Holdings, HK, Beijing, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, Rights BEIJING

☆ China's Tencent debuts large language AI model, says open for enterprise use
▼ + stars: | 2023-09-07 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

REUTERS/David Kirton/File Photo Acquire Licensing RightsBEIJING, Sept 7 (Reuters) - Tencent Holdings (0700.HK) said on Thursday companies could now use its large language artificial intelligence (AI) model "Hunyuan" as it premiered the much-awaited product amid a race by tech firms race to become China's AI champion. Hunyuan's debut comes after several Chinese tech firms including Baidu Inc (9888.HK) and SenseTime Group (0200.HK) recently unveiled their own AI models. Tencent, China's most valuable internet company, said Hunyuan had more than 100 billion parameters and was trained with more than 2 trillion tokens, two metrics often used to measure AI models' power. OpenAI's GPT-3 AI model contained 175 billion parameters in 2020 and Meta Platform Inc (META.O)'s Llama 2 model had 70 billion parameters in 2023. AI experts often describe moments where AI models generate incorrect information but present it as if it was a fact as "hallucination".

Persons: David Kirton, Hunyuan, Jiang Jie, OpenAI's, Tencent, ChatGPT, Josh Ye, Christopher Cushing, Miral Organizations: REUTERS, Rights, Tencent Holdings, HK, Baidu Inc, SenseTime, Meta, Beijing, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, Rights BEIJING, Hong Kong

☆ China's Tencent to unveil AI chatbot after Beijing clears hurdles
▼ + stars: | 2023-09-06 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

A man walks outside the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. REUTERS/David Kirton/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - China's internet giant Tencent Holdings (0700.HK) said that it will unveil an artificial intelligence (AI) chatbot on Thursday, according to a social media post it published on Wednesday. The post featured a demo conversation a user had with the AI chatbot, which helped the user write promotional materials. Tencent has been developing its own AI model named "Hunyuan" for months and the company said last month that it was expanding the test of the model internally. Reuters reported in February that the company formed a team to develop a ChatGPT-like chatbot named "HunyuanAide" at the time.

Persons: David Kirton, chatbot, Tencent, Josh Ye, Jacqueline Wong Organizations: REUTERS, Tencent Holdings, HK, Baidu Inc, SenseTime, Reuters, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, HONG KONG

☆ China's Tencent posts smaller than expected revenue growth; gaming falls short
▼ + stars: | 2023-08-16 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The world's largest video game company and operator of the WeChat messaging platform said revenue reached 149.20 billion yuan ($20.45 billion) for the three months ended June 30. That compared with the 151.73 billion yuan average of 21 analyst estimates compiled by Refinitiv. Domestic gaming revenue stayed mostly flat at 31.8 billion yuan, while international gaming revenue rose 12% to 12.7 billion yuan, excluding the impact of currency movements. It grew 34% to 25 billion yuan as its TikTok-like short video service Video Accounts experienced increased demand. Revenue from fintech and business services grew 15% to 48.6 billion yuan which the company said reflected expansion in both offline and online payment activities.

Persons: David Kirton, HONG KONG, Tencent, Shawn Yang, Josh Ye, Himani Sarkar, Raju Gopalakrishnan Organizations: REUTERS, Tencent Holdings, HK, Refinitiv, Blue Lotus Capital Advisors, Inc, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, HONG, fintech

☆ Tencent cuts cloud service prices up to 40% to fend off rivals
▼ + stars: | 2023-05-17 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

Alibaba Group Holding Ltd (9988.HK) said last month it would slash prices for some cloud products by up to 50%. Wei Yunfeng, a researcher at data firm IDC, said the price cuts were triggered in part by high sales targets despite slowing growth for the market. Alibaba's cloud revenue accounts for about 9% of its total revenue. James Mitchell, Tencent's chief strategy officer, told analysts on a call: "The impact of price cuts on Tencent as a whole is not notable." Moreover, price cuts only apply to its infrastructure-as-a-service business, which represent only a portion of Tencent's cloud services.

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