Tencent to invest US$70 billion in new digital infrastructure, backing Beijing’s economic stimulus efforts

  • The five-year plan will have Tencent focus on fields that include cloud computing, artificial intelligence, blockchain technology and the Internet of Things
  • Other investments will go to infrastructure such as advanced servers, supercomputers, data centres and 5G mobile networks

Tencent Holdings’ new digital infrastructure investment programme represents a strong commitment from the nation’s hi-tech sector to support economic recovery. Photo: Imaginechina
Chinese internet giant Tencent Holdings plans to invest 500 billion yuan (US$70 billion) over the next five years in new digital infrastructure, a major hi-tech initiative that would bolster Beijing’s efforts to drive economic recovery in the post-coronavirus era.
That massive investment will focus on fields that include cloud computing, artificial intelligence (AI), blockchain technology and Internet of Things, as well as the infrastructure to support them like advanced servers, supercomputers, data centres and 5G mobile networks, according to an announcement on Tencent’s official WeChat account on Tuesday.
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