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Tencent President Liu Chiping Discusses Increased AI Capital Expenditure: Multiple Applications Performing Well with Clear Upside Potential

On August 12, during Tencent's Q2 2026 earnings conference call, President Liu Chiping addressed the issue of increased capital expenditure in the second quarter. He stated that Tencent is indeed making significant investments in computing power and has already seen a clear potential for returns. Several new applications are performing well. Additionally, the computing power used for cloud leasing services is expected to bring considerable revenue growth, enhancing the return on capital expenditure. Regarding some previously placed computing power orders, if sold, they could yield profits exceeding 30% compared to the purchase price from a few months ago.

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