Tencent to Invest $70 Billion in ‘New Infrastructure’ Supporting AI and Cloud Computing – Caixin Global
Chinese tech giant Tencent plans to invest 500 billion yuan ($70 billion) in digital infrastructure over the next five years in response to a government call to energize the world’s second-largest economy with investment in “new infrastructure”.
“New infrastructure” is broadly defined as infrastructure that supports technology and science based projects.
The massive investment by Tencent will focus on areas ranging from cloud computing, artificial intelligence (AI), blockchain and Internet of Things (IoT) to 5G networks, quantum computing and supercomputer centers, according to a company statement published Tuesday.