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Tencent Holdings Ltd (HK:0700) surged 6.6% to HK$512.0, marking a near four-year high, after announcing that its Weixin messaging app is testing DeepSeek AI for internet searches. This move highlights Tencent’s commitment to AI innovation and underscores the increasing competition among Chinese tech giants in the AI space.
DeepSeek AI, which gained global attention in January, rivals OpenAI's ChatGPT while operating on older hardware and a fraction of the cost. Its rapid rise to become the most downloaded free app on Apple’s App Store fueled optimism in China’s AI sector, driving a 20% surge in the Hang Seng index since mid-January.
Baidu Inc (HK:9888) also announced DeepSeek integration alongside its Ernie AI model. However, Baidu’s Hong Kong shares fell over 6% as investors locked in profits ahead of its earnings release. The growing adoption of DeepSeek among Chinese tech majors like Tencent, Baidu, and Alibaba (HK:9988) reflects the country’s accelerated push into AI development.
DeepSeek’s launch not only bolstered Chinese tech stocks but also impacted global markets. Chipmakers like TSMC (NYSE:TSM) and Nvidia (NASDAQ:NVDA) saw sharp losses as investors questioned the need for expensive AI infrastructure when cost-efficient models like DeepSeek are available.
As Tencent integrates DeepSeek into Weixin, it positions itself at the forefront of China’s AI race, signaling potential growth in AI-driven services and innovation within the Chinese tech landscape. This development intensifies competition and highlights China’s growing influence in the global AI market.
