While the Chinese internet giant Tencent is best known for its super app WeChat, it’s also a major investor in U.S. tech companies and startups. Some of

But several US-based videogame companies, including Microsoft, would be considered US military companies if the same metric was applied to them.

The U.S. Defense Department has added major Chinese technology companies including gaming and technology company Tencent, artificial intelligence firm SenseTime and the world’s biggest battery maker CATL to its list of companies it says have ties to China’s military.

China’s largest public company by market capitalization spent the equivalent of about $193.3 million to buy back 4.05 million shares on Wednesday.

Tencent Holdings and Contemporary Amperex Technology Co. Ltd. (CATL) have faced significant stock declines following their recent designation as “Chinese military companies” by the U.S. Department of Defense (DoD).

The Pentagon recently added Tesla’s battery suppliers, Contemporary Amperex Technology, and Tencent to its list of companies with ties to the Chinese military. While the designation has minimal direct business impact,