Tencent’s 2026 Q2 results show new AI products — Hunyuan, Yuanbao, WorkBuddy,
CodeBuddy and XiaoWei — reduced non‑GAAP operating profit by CNY10.5bn, a marked
increase from Q1. President Liu Zhiping said investment allocations are highly
dynamic: Tencent will be cautious until it sees a clear breakout, then scale up
spending. He said WorkBuddy is currently prioritized due to explosive growth,
lowering priority for other AI projects. Liu added economic benefits should
emerge over time and the company could switch to a compute‑rental model — which
he said would be profitable — as a fallback, giving Tencent confidence.
