Tencent's Hy3 model tops OpenRouter as Q1 revenue hits $28.9B
AI pivot accelerates with new model and WorkBuddy agent; domestic gaming surges 19%.
Deep Dive
Tencent reported Q1 2026 revenue of 196.5B yuan ($28.9B), up 9% YoY. Domestic game revenue surged 19% QoQ to 45.4B yuan. The company launched its Hy3 preview model, which leads token consumption on OpenRouter. Chairman Pony Ma acknowledged the AI push needs to move faster, while President Martin Lau urged balancing high-value applications with computing costs.
Key Points
- Tencent Q1 revenue 196.5B yuan ($28.9B), up 9% YoY; domestic game revenue surged 19% QoQ to 45.4B yuan.
- Launched Hy3 preview model, now leading token consumption on OpenRouter; also introduced WorkBuddy AI agent.
- Chairman Pony Ma admitted AI push needs faster execution; new game Roco Kingdom: World performing strongly.
Why It Matters
Tencent's accelerated AI investment and robust gaming growth signal its intent to dominate both markets competitively.