3 6 Ke·2025-09-02 05:30Core Insights - The AI business has become a new growth engine for major companies like Tencent and Alibaba, significantly contributing to their revenue growth [1][2][5]. Tencent's Performance - Tencent reported a revenue of 364.53 billion RMB for the six months ending June 30, 2025, representing a 14% year-on-year increase, with a gross profit of 205.51 billion RMB and a net profit of 105.77 billion RMB [2]. - In Q2, Tencent's total revenue was 184.5 billion RMB, up 15% year-on-year, with a gross profit of 105 billion RMB, reflecting a 22% increase and a gross margin of 57% [2]. - The term "AI" appeared 18 times in Tencent's latest financial report, indicating a significant focus on AI investments [2]. - Tencent's R&D expenditure reached 20.25 billion RMB in Q2, a 17% increase, primarily directed towards AI strategy [2]. - Marketing services revenue grew by 20% to 35.76 billion RMB, attributed to AI-driven improvements in advertising platforms [3]. Alibaba's Performance - Alibaba's capital expenditure for the quarter from April to June reached 38.7 billion RMB, marking a historical high, with over 100 billion RMB invested in AI infrastructure and product development over the past four quarters [5]. - The cloud intelligence group of Alibaba achieved a revenue of 33.4 billion RMB in the quarter ending June 30, 2025, a 26% year-on-year increase, driven by growth in public cloud services and AI product adoption [6]. - AI-related product revenue has seen triple-digit growth for eight consecutive quarters, indicating strong demand for AI applications [7]. Strategic Approaches - Tencent focuses on integrating AI into its social and content ecosystems, leveraging its vast user base and gaming products to enhance user engagement and revenue [8]. - Alibaba adopts a full-stack AI strategy, emphasizing the development of AI hardware, infrastructure, and applications, including the launch of self-developed AI glasses and chips [9][10]. - Both companies are transitioning from technology exploration to business-driven value realization in the AI sector, highlighting the competitive landscape in China's internet industry [10].