March 19, 2026 12:18 AM GMT Tencent Holdings Ltd. | Asia Pacific Correction: Stepping Up AI Investments | What's Changed | | | | --- | --- | --- | | Tencent Holdings Ltd. (0700.HK) | From | To | | Price Target | HK$735.00 | HK$650.00 | Tencent is stepping up AI investments in foundation model (HY3.0), new AI products (Yuanbao, WeChat, WorkBuddy/ Qclaw), and GPU. These front-loaded investments will weigh on margins in the near term but should unlock new opportunities in the long term. Reiterate OW, lower pri ...