Tencent, one of the leading tech giants of China, is going to invest 69.9 billion dollars or five hundred billion yuan in the upcoming 5 years in those regions where technology has acquired significant place from artificial intelligence to cloud computing. Although, the action was supported and boosted by Beijing to push modern digital setup.
On Monday, the statement arrives when the firm, well popular because of its famous messaging app known as WeChat, described that it is on the way to approve around twenty billion dollars of new links to professional investors to ramp up capital. Moreover, around twelve billion dollars of bonds already undergoing this package are remarkable.
Tencent’s investment plans will boost competition
The company’s investment packages would boost competition with other popular and leading tech giants in China, including Baidu and Alibaba, in such regions where technology is emerging abruptly.
Furthermore, the firm would also be backing China’s thrust for so-called modern and ‘new infrastructure’, which is a term specifically used by Beijing to surround regions that are technologically very developed like upcoming-generation mobile networking such as 5G, artificial intelligence, and infrastructure used for transportation including electric cars.
Li Keqiang, a Chines Premier, declared plans on Friday to approve maximum debt to support modern infrastructure developments.
Besides this, the tech giant Tencent even said that it is going to put its maximum focus on developing giant data centers that would probably hold more than one million servers each. Moving forward, Tencent added that it will design innovation centers and modern industrial parks.
The firm continued by saying that it will operate with laboratories and scientific research specialists and will significantly invest in primary technological research.
New infrastructure development by tech giants
While concluding, we can say that this year, leading tech giants of China have been putting their heads together on the main point that is ‘new infrastructure’ to compete with other international tech giants.
JD.com is one of the primary E-commerce tech giants that has developed the Artificial Intelligence unit and modern Cloud in this year to concentrate on 2 central regions of technology.
At the same time, another dominant tech giant Alibaba announced, in April, that it is on the way to invest around two-hundred-billion-yuan, particularly in its cloud computing category. Alibaba doesn’t hold chair only in e-commerce; meanwhile, it’s a dominant cloud player all around the world.