Apple’s senior vice president for software engineering, Craig Federighi, took a pointed jab at leading AI developers during the conference’s opening keynote. “Some appear to be racing forward, seemingly pursuing AI for the sake of AI, without clear regard for the people, all of us, that it’s ultimately meant to serve,” Federighi said, according to a report in The Wall Street Journal. The comments come amid fierce debate over AI development, with President Trump signing an executive order to boost government oversight and Anthropic calling for a global pause in AI development last week.
Apple said it will use its new AI models, developed in collaboration with Google, to revamp several core apps. Beyond a widely-expected overhaul of Siri—now called Siri AI—the company said it will use “Apple Intelligence” to group tabs and build custom extensions on Safari, manage user passwords, search through photos and messages, and create calendar entries. Apple also said it has integrated AI into its Shortcuts app and photo-editing software.
The company stressed that its AI features use on-device processing and private cloud computing, adding that users’ AI data is not stored or accessible to either Apple or third parties. “Today, many AI providers talk about privacy, but by default, most of them retain your personal interactions, leaving the onus on you to defend your privacy,” Federighi said. With Apple, he added, “your data is only used to execute your request, and outside experts can continue to verify this promise at any time.”
The broader tech rally pushed the Nasdaq Composite to 25,929.66 on Tuesday, according to FRED data, reflecting continued investor enthusiasm for AI-related technology stocks.
In China, Tencent’s Weixin platform is taking a different path. The company signed agent-to-agent deals last week with five smartphone makers to enable their respective AI assistants to integrate with Weixin, Bernstein analysts said in a research note. The Chinese everything app also invited developers to integrate mini programs into the app’s AI ecosystem. Bernstein described Tencent as “the benevolent gatekeeper” to its future AI agent ecosystem centered on Weixin and expects the cohort of past and present Tencent investee companies to be among the first to integrate their services into the Weixin AI ecosystem. Tencent shares rose 3.5% to HK$462.00.
Citi analysts said Weixin AI agent development appeared to be progressing well. The initial testing phase includes key partners such as Meituan, Tongcheng, and Trip.com, which will enable users to access local services such as food delivery directly through the AI agent embedded in the app, the analysts noted. “We believe this testing, combined with ongoing feedback from the Hy3 model, will provide valuable data for Tencent’s next model iteration,” they said.
South Korea’s Naver is pursuing AI infrastructure at scale through a partnership with Nvidia. Kyobo Securities analyst Kim Dong-woo said Naver’s enterprise value could triple to 6.9 trillion won ($5.3 billion) from 2.3 trillion won currently, driven in part by AI-factory revenue projected to reach 475 billion won in 2027 and 2.5 trillion won in 2028. Kim is positive on Naver’s plan to expand its AI data-center capacity to 55 megawatts by the first half of 2027, 100 MW by end-2027, and 200 MW in 2028 as part of the Nvidia-led gigawatt-scale initiative.
Chinese technology companies are showing clearer AI monetization based on first-quarter results, according to Daiwa analysts John Choi and Lily Liu. The analysts noted tangible AI revenue conversion across cloud, advertising, and AI-native applications. Both Baidu and Alibaba delivered faster AI cloud growth, while Tencent’s AI continued to improve its advertising business performance, they said in a research note. “Token consumption, advertising conversion and enterprise workflow execution are likely to become more important indicators of AI commercialization than headline model launches,” the analysts said. Tencent, NetEase, Baidu, Bilibili, and Alibaba are Daiwa’s top sector picks.
Deutsche Bank analyst Leo Chiang said Chinese technology companies are likely to benefit from model monetization. Beyond continuous model updates and agentic tool evolution, model developers are increasingly focusing on commercialization, he said. Coding and video generation are currently identified as top token consumption scenarios. “We believe continuous advancement in monetization strategies will foster healthier long-term industry development,” Chiang said.
In Singapore, the telecommunications sector could still see consolidation despite the failed merger between Simba Telecom and M1, RHB Research analysts said. There might be renewed discussions between Keppel and StarHub, with the latter widely viewed as the other main contender for M1. “Both Keppel and StarHub view consolidation as a healthy market response,” the analysts said. StarHub’s management has repeatedly said it is receptive to mergers and acquisitions, supported by its strong coffers, they noted. RHB remains neutral on Singapore’s telecom sector, pegging Singtel as its top pick.
Separately, Bilibili’s key stock overhang has likely been reduced as shareholder Tencent now seems less likely to monetize its stake in the Chinese video-sharing platform, said The Zephirin Group in a research note. Tencent is reportedly planning to issue bonds, which should lower the risk of it selling its shares in Bilibili, said analyst Longdley Zephirin. Tencent holds around a 12% interest in Bilibili, according to LSEG data. The Zephirin Group upgraded its trading call on Bilibili’s Hong Kong-listed shares to hold medium risk from strong sell medium risk, raising its price objective to HK$161.00 from HK$134.00.