# Chinese internet and gaming giant Tencent announced that profits in the fourth quarter of 2024 surged 90-percent as the firm accelerates a push into artificial intelligence. The publication of quarterly and annual results for Shenzhen-based Tencent comes after weeks of robust investor confidence in Chinese tech, and in AI in particular. Tencent’s stock price soared to its highest level in nearly four years as Chinese tech firms ride a wave of investor confidence. South African multinational Naspers has an investment in Tencent through its subsidiary, Prosus.
Tencent’s profits surged 90% in fourth quarter of 2024