Tencent trims stake in China’s Kuaishou, shares slide By Investing.com

Playtika is reportedly in talks to sell its SuperPlay unit to Tencent for a valuation of $1.0 billion to $1.5 billion, according to Calcalist. Playtika bought SuperPlay in 2024 for $700 million in cash plus performance-based payments up to $1.25 billion. If completed, the deal could be a sizable return for Playtika.

Reuters reports Chinese AI startup DeepSeek plans a new fundraising round at about 500 billion yuan ($74 billion) ahead of a potential mainland IPO on Shanghai’s STAR Market. Sources say it raised about $7.4 billion in June at a 450 billion yuan post-money valuation, and may seek up to 50 billion yuan more. DeepSeek is also considering IPO filing this year.

Financial Times reported that OpenAI and Google supplied AI services to Singapore affiliates of Alibaba, Baidu, and Tencent, whose parent firms are on a Pentagon blacklist. OpenAI said it suspended API access for Alibaba-affiliated users over potential distillation and reported it to the U.S. government. The article cites ongoing debate in Washington over tighter AI export controls.

Kuaishou Technology shares fell 10.7% to HK$41.06 on Tuesday after Tencent sold 273M Kuaishou Class B shares at HK$43.25, about 6% below Monday’s close, raising about $1.5B. The block sale cut Tencent’s stake from ~15.68% to ~9.37%, creating a supply overhang; Hang Seng was down 1%.

Tencent shares rose 3.8% to HK$447.4 on Monday, after JP Morgan took a positive view of Tencent’s AI offerings and said the stock could rebound if AI agents are integrated into WeChat. Tencent began beta testing a WeChat AI agent in June and is expanding AI investments, including support for Kuaishou Kling’s ~$2.8B funding and plans to offer DeepSeek-V4 on Tencent Cloud in mid-July.

Baidu’s AI chip unit Kunlunxin plans a Hong Kong IPO targeting a $50 billion valuation, The Information reported, citing two sources. The report said investors were asked to buy shares worth 3–7 times the subscription value. Reuters could not verify; Baidu did not comment. Kunlunxin supplies Baidu and has expanded external sales; Tencent is a customer, and ByteDance was considering its chips, Reuters reported.