What happened in China Tencent closed 2025 as the world's most financially dominant gaming company, reporting total revenues of 751.8 billion yuan (≈$105.25 billion), up 14% from 2024. Within that, international games revenues reached RMB 77.4 billion (≈$10.84 billion), up 33% year-on-year — or 32% on a constant-currency basis. Q4 alone saw international games revenue grow 32% year-over-year, driven primarily by Supercell's titles and PUBG. The company also showcased its AI ambitions at GDC 2026, unveiling three core AI solutions — MagicDawn, VISVISE, and a third technology — and presenting Tencent Cloud's AI-powered gaming infrastructure to a global developer audience. This is not a company coasting on legacy IP. It is systematically building the technical stack that will define how games are made and distributed over the next decade. Meanwhile, the Trump administration was reported on March 4, 2026 to be actively reviewing whether Tencent can retain its stakes…