Competition is heating up in the field of artificial intelligence (AI) video-generation technology in China, after internet giant Tencent Holdings launched its new open-source HunyuanVideo-I2V model to developers.

Chinese tech megacaps are leaving their once-unbeatable US peers in the dust as DeepSeek spurs demand for the Asian nation’s stocks, an outperformance that many investors say has room to extend.

The launch of DeepSeek’s open-source AI model R1 triggered a $3T market cap loss to $15T for the “Magnificent Seven” stocks, said Michael Hartnett, chief investment strategist at BofA, in a note. Most of these “Lagnificent Seven” stocks,

A $439 billion rally in Chinese tech megacaps this year has left their once-unbeatable US peers in the dust, an outperformance that many investors say has room to extend.

China's top technology firms, including Alibaba and Tencent, are outperforming their US counterparts, driven by DeepSeek's impact and strong governmen

Chinese tech giant Tencent on Thursday released a new AI model that it says can answer queries faster than global hit DeepSeek's R1, in the latest sign the startup's domestic and overseas success is putting pressure on its larger competitors in China.

An artificial intelligence (AI) chatbot developed by Chinese tech giant Tencent Holdings has displaced DeepSeek as the most downloaded free app in China's iOS App Store. Tencent's Yuanbao took the No 1 spot in the free app list on Monday,

Tencent Holdings Limited’s Yuanbao AI chatbot passed DeelSeek as the most downloaded app on AppStore in China. Yuanbao integrates Hunyuan artificial intelligence technology alongside DeepSeek’s R1 reasoning model.

The Hangzhou-based firms have upended China’s tech scene — and sent governments across China scrambling for their own champions.

Tencents AI assistant, Yuanbao, became the most downloaded free app on Chinas Apple App Store, surpassing DeepSeek in downloads on Tuesday. Last week, it also overtook ByteDances Doubao AI, fueled by Tencents