Citibank: Tencent Holdings (00700)'s new AI browser is easy to promote and maintain a target price of HK$695 for Tencent's “buy” rating

The Zhitong Finance App learned that Citibank released a research report saying that Tencent Holdings (00700) launched a next-generation artificial intelligence browser QBot on the QQ browser to integrate the “mixed+DeepSeek” dual model capabilities. The artificial intelligence browser further integrates reliable data sources from official accounts and other PGC platforms, integrates internal and external capabilities, and satisfies various usage scenarios through artificial intelligence search/browsing/writing/learning and artificial intelligence office functions. The bank maintains Tencent's “buy” rating, with a target price of HK$695.

According to the bank, as of last month, the QQ browser had 433 million monthly active users and 97 million daily active users. It may be easier to promote or transfer users' browsing/search behavior to familiarize them with artificial intelligence responses and use. The bank believes that with its large and stable user base and social mapping ecosystem, Tencent will become a strong participant in artificial intelligence applications and further promote its artificial intelligence functions and products.