Tencent unveils AI image model to narrow gap with ByteDance, Alibaba; shares rise

[Tencent Qianhai Towers] Planck Quantum * Tencent (TCEHY [https://seekingalpha.com/symbol/TCEHY]) unveiled its newest and most advanced image-generation model on the same day that rival Alibaba Group (BABA [https://seekingalpha.com/symbol/BABA]) opened its AI conference, underscoring Tencent’s efforts to close the gap with industry leaders such as ByteDance (BDNCE [https://seekingalpha.com/symbol/BDNCE]). Tencent's shares gained more than 7% in Hong Kong. * The Hy Image 3.5 Preview model offers a performance boost over its predecessor and is being integrated across Tencent products, including the Yuanbao chatbot and film-editing and design tools, the company said Tuesday, according to a _Bloomberg News_ report.