---
title: "Tencent's Liu Chiping: AI chip supply shortages limit cloud business growth, expects slower growth in international gaming business this season"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265830713.md"
description: "Tencent's non-IFRS net profit in the third quarter rose by 18%, exceeding market expectations. The shortage of AI chip supply limits the growth of cloud business, and Tencent prioritizes internal AI model training and advertising use. It is expected that the growth rate of international gaming business will slow down in the fourth quarter. Tencent's stock price opened down 1.68% today"
datetime: "2025-11-14T01:59:40.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265830713.md)
  - [en](https://longbridge.com/en/news/265830713.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265830713.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/265830713.md) | [English](https://longbridge.com/en/news/265830713.md)


# Tencent's Liu Chiping: AI chip supply shortages limit cloud business growth, expects slower growth in international gaming business this season

Tencent (00700.HK) reported a non-IFRS net profit increase of 18% to RMB 70.551 billion in the third quarter, exceeding market expectations. President Liu Chiping stated in an analyst conference call that the supply of AI chips is one of the factors limiting the growth of the cloud business. Due to supply shortages, Tencent will prioritize internal AI model training and advertising, believing that without the supply constraints of AI chips, the group's cloud revenue should have grown faster.

He also mentioned that there is currently no dominant AI large model in the Chinese market. With the continuous improvement of mixed capabilities, user engagement in AI-native applications is achieving good growth. Although upgrading the mixed large model will increase R&D expenses, the benefits will be reflected in revenue and gross profit growth.

Currently, Tencent is developing AI intelligent capabilities within WeChat. Liu Chiping also provided an ideal blueprint for WeChat's AI intelligence, believing that WeChat has a complete ecosystem and possesses very strong communication and social user data, allowing the intelligent agents to understand users' needs, intentions, and interests, making it an ideal platform for AI intelligent agents to execute tasks. However, he stated that the vision for WeChat's intelligent agents is still in a very early stage, and WeChat is advancing in parallel by introducing native capabilities, enhancing AI search, and developing intelligent agents in vertical fields.

Last quarter, Tencent's international gaming revenue exceeded RMB 20 billion for the first time, with growth significantly higher than the previous two quarters. However, Liu Chiping expects the growth rate of international gaming business to slow down in the fourth quarter.

Tencent's stock price opened down 1.68% today (14th), hitting a low of RMB 641. It is currently reported at RMB 647, down 1.37%, with a trading volume of 5.4957 million shares, involving RMB 3.546 billion

### 相關股票

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