Tencent: R&D expenses in the second quarter were 17.3 billion yuan, with R&D investment exceeding 300 billion yuan over the past six years

Tencent released its Q2 2024 financial report, with a total revenue of 161.1 billion RMB for the quarter, an 8% year-on-year increase. Among them, the revenue from enterprise services achieved a double-digit growth rate, benefiting from the growth in cloud service revenue and the increase in technical service fees for video merchant accounts. The financial report shows that Tencent's R&D expenses in Q2 reached 17.277 billion RMB, with a total R&D investment exceeding 302.609 billion RMB over the past six years since 2018, continuously strengthening core technology research and development to enhance product competitiveness. Based on the top-notch domestic basic model "Tencent HyunYuan," Tencent has launched the AI assistant Tencent YuanBao, which has a competitive advantage in precise image understanding, advanced natural language processing, and AI search enhanced by Tencent's unique content ecosystem. In the quarter, Tencent Cloud also released three major AI engine tools such as the large-scale model knowledge engine, as well as high-performance computing services like the proprietary cloud intelligent computing suite, aiming to reduce the threshold for large-scale model industrial applications and shorten the distance from model to application