Tencent buys back $1.1B in June amid investor AI doubts
Tencent has been buying back its own shares almost every trading day since mid-May, dropping a massive $1.1 billion in June alone, after losing $309 billion in market value since early October.
Even with all this effort, Tencent's stock is still down over 33% from its peak, mostly because investors are not convinced about the company's AI plans and are looking elsewhere for dedicated AI opportunities.
Tencent to double AI investment >$5.3B
Tencent announced it will at least double its investment in AI to over $5.3 billion in 2026 and just started testing an AI assistant on WeChat (which has more than one billion users).
But despite these big moves, the company's stock valuation has hit a record low, and shares are headed for their fifth straight month of decline, the longest losing streak since 2018.
Even almost daily buybacks have not stopped investors from selling off.