Tencent Holdings is quietly reallocating its venture capital bets away from legacy internet assets to double down on China’s highest-profile artificial intelligence champions. While the tech giant’s sprawling portfolio spans mobile gaming, e-commerce and consumer goods globally, its AI strategy has rapidly accelerated. Earlier this month, Tencent trimmed its long-held stake in Kuaishou Technology days after backing a US$3 billion round for Kuaishou’s AI video unit, Kling AI.
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