Tencent’s Shares Dive After Agentic AI Vision Fails to Impress

Tencent Holdings Ltd.’s shares plunged after the company declared plans to curtail buybacks and failed to deliver a clearer vision of how it’ll profit off China’s newfound love affairwith agentic AI.

Investors also fretted about margins after China’s most valuable company said it plans to at least double investments in AI to more than 36 billion yuan ($5.2 billion) in 2026 — a big gambleon OpenClaw-style agents to try and catch up with Alibaba Group Holding Ltd. and ByteDance Ltd. in an increasingly combative arena.

Tencent plans to bankroll that outlay by curtailing the aggressive buybacks that’ve ...