Following Alibaba’s announcement of spending RMB 200 billion on cloud computing and data centres last month, Tencent claimed on Tuesday that it will invest RMB 500 billion in the same sector. The ambitious move by both tech titans is said to answer the calls from Beijing pushing for a technology-driven structural upgrade of its economy with new infrastructure investment projects, which covers various aspects including AI, cloud computing, blockchain, cybersecurity, among other things.
