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China’s AI crossroads: 3 divergent paths in the race for dominance
TechnologySCMP2mo ago

China’s AI crossroads: 3 divergent paths in the race for dominance

On a crisp January afternoon, the Shenzhen Bay Sports Centre, just a stone’s throw from Tencent Holdings’ headquarters, was packed with employees gathering for a party featuring celebrity cameos and prizes. But before the fun started, they witnessed a round of sober self-reflection from their low-profile leader. The New Year address by co-founder, chairman and CEO Pony Ma Huateng is an annual tradition for the social media and video gaming giant, offering its 115,000 employees rare insight in...

Why is the Hang Seng Tech Index in the doldrums while AI shares are soaring?
BusinessSCMP2mo ago

Why is the Hang Seng Tech Index in the doldrums while AI shares are soaring?

Hong Kong’s tech equity benchmark is struggling to balance the artificial intelligence frenzy and picking the right industry leaders, leading to its underperformance this year, according to analysts. The Hang Seng Tech Index, which comprises 30 technology-related companies including Tencent Holdings, Alibaba Group Holding and Meituan, has fallen 5.5 per cent this year up to Friday, giving up some of last year’s 23.5 per cent gains. In contrast, the broad-based Hang Seng Index has risen 0.3 pe...