Investor concerns about heavy AI spending are weighing on Tencent, dragging down Naspers and Prosus shares. Despite solid fundamentals, valuations have fallen amid uncertainty over AI returns. Mergence CIO Peter Takaendesa notes profit-taking due to this uncertainty, but argues Tencent remains well placed, saying it is very well positioned to leverage its 1.4 billion users to scale AI products and improve efficiency over time.

NVIDIA shares swing as investors digest record-breaking results
NVIDIA shares swung after the chipmaker posted record first-quarter revenue of $81.6 billion, fuelled by booming AI demand. The stock