Bloomberg: Tencent plans to launch open-source model Hy4 later in 2026

According to Bloomberg, Tencent plans to launch the open-source model Hy4 later in 2026. Additionally, sources familiar with the matter revealed that Tencent Holdings has launched a US dollar and offshore RMB bond issuance program, targeting approximately $5 billion in financing. Tencent plans to issue 10-year and 20-year USD bonds, with initial indicative spreads of approximately 115 and 140 basis points over comparable US Treasury yields, respectively.