腾讯Q1资本开支275亿元同比增长91%，马化腾：AI投入将产生长期可观的增量回报

Group 1 - The core viewpoint of the articles highlights Tencent's strong financial performance in Q1 2025, with a non-IFRS operating profit of 69.3 billion yuan, representing an 18% year-on-year growth, driven by high-quality growth in core businesses and increased investment in AI [1][2] - Tencent's R&D expenditure reached 18.91 billion yuan, up 21% year-on-year, while capital expenditure surged to 27.48 billion yuan, reflecting a significant increase of 91% [1] - The integration of AI into Tencent's consumer-facing products has led to substantial user growth, with core products like WeChat, QQ, and Tencent Docs enhancing their intelligent experiences through deep AI capabilities [1] Group 2 - The company is focusing on technological breakthroughs, with advancements in its Mix Yuan model, including the release of the Deep Thinking model T1 and the Fast Thinking base model Turbo S, which have achieved excellent results in international benchmark tests [1] - Tencent's generative AI innovations have seen significant upgrades in image, video, and 3D generation models, with the latest 3D model achieving over a tenfold improvement in geometric performance and modeling precision [1] - CEO Ma Huateng emphasized that the high-quality revenue growth is expected to help absorb the additional costs associated with AI investments, which are anticipated to create long-term value for users and society [2]