Recently, Tencent released its financial report for the third quarter of 2023. Although overall revenue and profit saw a significant increase, it also revealed that capital expenditures were lower than market expectations, sparking external attention on its AI projects. Liu Zhi Ping, President of Tencent, provided a detailed explanation during a conference call following the release of the financial report.

Liu Zhi Ping pointed out that although capital expenditures were less than expected, Tencent's reserves of GPU (Graphics Processing Units) are not an issue. He emphasized that the company currently has sufficient GPUs to meet internal needs, especially for the development of the "Yuanbao" project. Regarding the cloud business, Liu Zhi Ping mentioned that current external revenue is still subject to some limitations, but this will not affect Tencent's continued investment and development in the AI field.

When talking about the future of the "Yuanbao" project, Liu Zhi Ping said that Tencent has made many improvements in team building and infrastructure. The increase in personnel and resources will lay a solid foundation for future development. He looks forward to new models bringing "meaningful improvements" and believes that the pace of Tencent's enhancement in the Yuanbao capabilities will further accelerate.