Tencent Holdings Ltd.'s spending plans will draw investor scrutiny as investors cool on lavish outlays on artificial intelligence. Last month, the Magnificent Seven lost $797 billion in a day after Google parent Alphabet Inc. raised capital expenditure plans while its cash flow turned negative for the first time since going public. That's raising pressure for Tencent, weeks after the WeChat owner raised $4.7 billion from the sale of long-dated dollar and yuan bonds in its largest bond offering since 2020 to finance the development of its AI products and services. Consensus earnings estimates in China's tech sector will remain under sustained pressure in the second half, weighed down by price wars and oversupply including in AI, even as the AI performance gap with the US is narrowing, said Bloomberg Intelligence. Meanwhile, prints from Hon Hai Precision Industry Co. and Lenovo Group Ltd. will show tailwinds on the hardware side of the tech industry. Highlights include Monday's Ayala Land earnings, set to shrink for a second straight quarter as a double rate hike from the Philippine central bank in response to fallout from the Iran war pressured residential demand. Tuesday's Foxconn Industrial Internet guidance should hint at growth in the second half, supported by Nvidia's next-generation Vera Rubin platform, with first-half profit likely rising between 93% to 101%. Wednesday's Tencent earnings growth likely fell to its lowest since 2023, slowed by rising AI investment costs, while no significant external sales from AI