China’s Tencent Invests $1.57 Billion In Cloud Computing

Chinese Internet company Tencent Holdings Ltd. said Tuesday it will invest 10 billion yuan ($1.57 billion) over the next five years in its cloud-computing business, including construction and operation of data centers in China, Hong Kong and North America.

Tencent operates data centres that house servers and other equipment, allowing various clients to take advantage of its computing resources. And now, it is boosting investments to beef up its cloud-computing capabilities domestically as well as overseas.

Cloud computing has become a buzz word in China; at the recent China-Arab States Expo in Zhongwei City in Ningxia, it was the main topic of discussion among leading entrepreneurs.

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