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Express News | Tencent HK shares open lower at 7% after the U.S. adds Tencent and others to the list of Chinese firms allegedly aiding Beijing's Military. Its ADR dropped significantly in U.S. market trading.
U.S. stock market closing: the three major Indexes had mixed results, with the Technology conference CES boosting chip stocks higher.
① Nasdaq China Golden Dragon Index closed down 1.16%, most China Concept Stocks fell, Tencent ADR dropped nearly 8%; ② MicroStrategy has purchased Bitcoin for nine consecutive weeks; ③ Trump denies plans to reduce the applicability of tariffs; ④ Qualcomm announces the launch of the new AI chip Snapdragon X.
Express News | Shares of Tencent Set to Open Down 7.03% After U.S. Adds Tencent and Others to List of Chinese Firms Allegedly Aiding Beijing's Military
Apple Poised to Become First $4 Trillion Company Amid Investor Optimism on Product Surge
Research and development investments are close to the combined sum of BAT! Does ByteDance want to become China's OpenAI?
Zheshang stated that ByteDance has made huge investments in AI, with capital expenditures reaching 80 billion yuan in 2024, approaching the total of Baidu, Alibaba, and Tencent (about 100 billion yuan). Research and development investments significantly lead their peers; analogously, just as Microsoft is strongly investing in OpenAI, ByteDance in China may be comparable to OpenAI in the USA.
Even the richest private Banks are having a hard time.
First revenue decline.