Tencent to Spend USD70 Billion on Tech Infrastructure

TANG SHIHUA

(Yicai Global) May 26 — Chinese internet giant Tencent Holdings plans to spend CNY500 billion (USD70 billion) to upgrade its technology infrastructure over the next five years.

The Shenzhen-based firm plans to add several large-scale data centers throughout China, invest in a cloud computing based production center and industrial park, and work with the country’s top universities to support new research projects, Dowson Tong, president of Tencent’s Cloud & Smart Industries Group, said today.

The company is also considering spending money on artificial intelligence, blockchain, operating systems for the Internet of Things, fifth-generation networks, quantum computing and internet security, he added.

Editor: James Boynton