0229 GMT - Tencent's latest large language model launch is "an important milestone" given its immediate integration into broad-based Tencent products, Citi analyst Alicia Yap says in a research note. Tencent on Thursday released the new AI model, Hy3 preview, which claims a 40% improvement in inference efficiency with competitive pricing. Yap thinks the Hy3 preview takes a "pragmatic" approach, focusing on real-world applications over lab scores. "We believe further capability improvements are likely with the official Hy3.0 release or subsequent iterations like 3.1/3.2," she adds. Citi maintains its buy rating on Tencent and keeps its target price at HK$783.00. Shares are last 1.3% lower at HK$488.60.(sherry.qin@wsj.com)
(END) Dow Jones Newswires
April 23, 2026 22:29 ET (02:29 GMT)
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