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XPeng Slumps as Q2 Miss Dims Robotics Bets Worth $6.3B
business4 days ago

XPeng Slumps as Q2 Miss Dims Robotics Bets Worth $6.3B

XPeng shares fell about 7% after a Q2 revenue miss and softer Q3 guidance, overshadowing a $6.3B valuation for its IRON humanoid robotics unit backed by Alibaba and Tencent. NIO slipped ~4% in sympathy, while Tesla declined modestly. XPeng reported Q2 revenue of RMB19.74B (+8% YoY, +51.5% QoQ) with gross margin at 20.7% and vehicle margin at 12.1%; Q3 revenue guidance of RMB21.7–23.4B missed consensus around RMB25.9B; non-GAAP loss per ADR was RMB1.29. The robotics round highlights optionality beyond EVs, but investors should watch the upcoming conference call for delivery momentum and any overseas ramp updates.

via 24/7 Wall St.|
#alibaba#business#nio
Lightspeed LA lays off 80 as Last Sentinel pivots development direction
business24 days ago

Lightspeed LA lays off 80 as Last Sentinel pivots development direction

Tencent-owned Lightspeed LA laid off about 80 staff to shift the creative and development direction of its debut title, Last Sentinel. The studio says it remains open to internal transfers and will continue to invest in North American talent, while providing updates on development and noting that no release date has been set. Last Sentinel has been in development for several years with a reported budget in the hundreds of millions, and Bloomberg reported the layoffs followed a decision not to move forward with the project.

via GamesIndustry.biz|
#business#game-development#last-sentinel
Ambitious Last Sentinel Likely Canceled After Mass Layoffs and Heavy Spending
gaming27 days ago

Ambitious Last Sentinel Likely Canceled After Mass Layoffs and Heavy Spending

Bloomberg reporter Jason Schreier reports that Last Sentinel, Lightspeed LA and Tencent’s ambitious open‑world action title, is most likely canceled after a wave of layoffs (about 80 at Lightspeed LA) and hundreds of millions spent without meeting Tencent’s quality expectations; a veteran designer was brought in to salvage the project, but sources say Tencent ultimately halted development around July 28, leaving the studio with a sunk cost and no public release in sight.

via Insider Gaming|
#bloomberg-schreier#gaming#last-sentinel
Tencent-backed GTA rival Last Sentinel sinks after six-year dev saga
business28 days ago

Tencent-backed GTA rival Last Sentinel sinks after six-year dev saga

Tencent-backed Lightspeed LA’s ambitious GTA-style open-world game Last Sentinel appears to have collapsed after six years, with about 80 layoffs. Reports cite missed deadlines, budget overruns, and negative playtests, prompting Tencent to not move forward, though the company says it will shift direction and Lightspeed LA remains open for future projects.

via Wccftech|
#business#game-development#last-sentinel
Lenovo's Legion C700: a 556-gram, ultra-thin cloud gaming handheld teaser
technology1 month ago

Lenovo's Legion C700: a 556-gram, ultra-thin cloud gaming handheld teaser

Lenovo has teased more details about the Legion C700 gaming handheld, highlighting a slim 14.9mm chassis and a light 556-gram body, a 7.82-inch 120Hz display, and TMR thumbsticks to prevent drift. The device is marketed as a cloud handheld, with a Tencent partnership and a China launch planned for August 2026; a wider global rollout and other specs remain under wraps.

via Notebookcheck|
#cloud-handheld#gaming-handheld#legion-c700
Markets in mixed mood as Tencent trims Kuaishou stake and oil climbs
business1 month ago

Markets in mixed mood as Tencent trims Kuaishou stake and oil climbs

Global markets were mixed: Tencent sold about $1.5B of Kuaishou shares, sending the stock down roughly 9.6%; Sapporo and Carlsberg agreed to expand in Southeast Asia and Hong Kong with a $643M 25% stake; oil rose on renewed tensions in the Strait of Hormuz; Hanwha Ocean plunged after losing Canada’s submarine bid; Samsung slipped despite a forecast for record Q2 profit; Asia markets opened mixed with Korea down and Japan set to rise; SpaceX is set to join the Nasdaq-100; Vertex will acquire Crinetics for $10B; stock futures were little changed after hours.

via CNBC|
#business#kuaishou#markets
Dont Nod could face a cash crunch by November without new financing
business2 months ago

Dont Nod could face a cash crunch by November without new financing

Dont Nod warns it could run out of cash by November unless it secures new financing; as of April 13, 2026 it had about €8.8 million in cash and has asked Tencent for a short-term capital increase, but Tencent—the largest shareholder—appears not to be interested, while talks with other major players have not yielded a deal. The company restructured around RPG, narrative/adventure and action/adventure and cut staff in 2025, highlighting broader Chinese disinvestment from external studios.

via GamesIndustry.biz|
#business#cash-flow#dontnod-entertainment
Dont Nod in funding squeeze as Aphelion project risks shrinkage
business2 months ago

Dont Nod in funding squeeze as Aphelion project risks shrinkage

Dont Nod, the French studio behind Life is Strange, warns its cash reserves may be depleted by November as Tencent backs away from funding its next project. With about €8.8m in cash as of April, leadership is exploring other publishers, but no commitments have been made. The board will meet on June 17 to discuss options, and the company may cut or scale back Project P14, potentially triggering layoffs and a reduced scope while negotiations continue amid a broader industry funding pull from major publishers.

via Eurogamer|
#aphelion#business#dontnod
SpaceX IPO Redefines VC Payoffs, Dominating All-Time Top Checks
business2 months ago

SpaceX IPO Redefines VC Payoffs, Dominating All-Time Top Checks

SpaceX’s historic IPO has vaulted its backers into the top tier of inflation-adjusted venture-capital gains, with multiple funds (Valor Equity Partners, Founders Fund, DFJ Growth, Sequoia, 137 Ventures, and others) posting multibillion-dollar, inflation-adjusted returns. The piece shows SpaceX investors now dominate the 10 biggest VC checks of all time, eclipsing classic bets like eBay via Benchmark; many of these gains remain paper profits due to lock-ups, and Google-backed deals are noted as excluded from the top ten for methodological reasons.

via Forbes|
#business#ipo#softbank
Live-service bets fail fast: Highguard’s collapse exposes gaming’s rush for instant profits
business5 months ago

Live-service bets fail fast: Highguard’s collapse exposes gaming’s rush for instant profits

Industry analysis argues that live-service games are treated as instant-profit investments, with Highguard’s swift demise after a Tencent-backed launch despite 2 million players; Marathon offers promise but profitability remains uncertain, underscoring a broader pattern where investor pressure and the time-to-kill metric drive whether a game survives or fails.

via The Guardian|
#business#highguard#live-service-games
Wildlight Entertainment Nears Shutdown After Highguard Debacle
gaming5 months ago

Wildlight Entertainment Nears Shutdown After Highguard Debacle

Wildlight Entertainment, the studio behind the shooter Highguard, appears likely to close after a rocky launch that saw concurrent players crater and Tencent withdraw funding; the studio’s website and LinkedIn vanished, servers shut down on March 12, and co-founder Chad Grenier indicated there may be no future for Wildlight, suggesting the company is winding down after founding in 2021.

via MP1st|
#gaming#highguard#live-service-game
Paramount–Warner Buyout Faces Global Investment Headwinds
politics5 months ago

Paramount–Warner Buyout Faces Global Investment Headwinds

Paramount’s bid to buy Warner Bros. Discovery, backed by Gulf sovereign wealth funds and now supplemented by Tencent funding, faces mounting pressure as Iran’s conflict prompts Gulf countries to review investments; potential security reviews and shifting finance could derail the $111 billion deal and reflect broader strains on US media consolidation and international finance.

via Gizmodo|
#cfius-national-security#gulf-investment-funds#paramount