<\/p>\n
Tencent Holdings sold $1.5 billion of stock in Chinese TikTok rival Kuaishou Technology, paring mature internet bets during a pivot to artificial intelligence.<\/p>\n
China\u2019s most valuable company sold about 273 million Kuaishou shares at HK$43.25 apiece in the biggest such block trade in Hong Kong this year, according to terms of the deal seen by Bloomberg News. That was toward the lower end of a marketed range and a 6% discount to Kuaishou\u2019s HK$46 Monday close. The short-video company\u2019s shares slid as much as 9.3% Tuesday, the most on an intraday basis since March.<\/p>\n
The WeChat operator has, over the years, unwound investments in mobile internet platforms, including Meituan and online retailer JD.com, as well as holdings in smaller game studios. The Kuaishou selldown accelerates that trend as Tencent redirects capital into generative AI, backing high-profile startups from DeepSeek to Moonshot AI. The company also participated in a $2.8 billion financing round for Kuaishou\u2019s Kling AI, investing directly in the creator of one of China\u2019s most popular generative video services.<\/p>\n
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The Tencent transaction surpassed an earlier $1.5 billion sell-down in printed circuit board supplier Kingboard Laminates Holdings, data compiled by Bloomberg show. Hong Kong share sales have powered to a five-year high on investor enthusiasm around artificial intelligence, though the city\u2019s stock market has been a laggard.<\/p>\n
Tencent\u2019s stake will drop to 9.37% after the sell-down. Kuaishou\u2019s shares were propelled last year by the rapid rise of Kling, though that market fervour has since cooled. The operator of China\u2019s second-largest short-video platform is counting on AI video as a second leg of growth. Kling AI is expected to get spun off and floated on public markets eventually.<\/p>\n
Tencent will face a 90-day lockup on its remaining stake after the block trade. Goldman Sachs Group and Morgan Stanley arranged the deal.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n<\/p><\/div>\n
#Tencent #sells #1.5bn #Kuaishou #stake #pivot #quickens<\/p>\n","protected":false},"excerpt":{"rendered":"
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