[Tencent's Current Undervaluation Likely Temporary] According to a report by Golden Finance, Bernstein analysts stated that Tencent's current undervaluation should be temporary. They noted that the company's sluggish stock valuation reflects a series of concerns, including the lack of new blockbuster games and higher costs associated with AI investments. The market is worried that the rollout of AI could mean the company might need to bear significant computing costs, while monetization of consumer AI remains minimal. However, they emphasized that despite the time lag, monetization growth will eventually follow. As for its gaming business, Bernstein still expects Tencent's performance to outperform its peers. (Jin10)