Tencent is looking to expand in other areas of tech to reach the top spot, given that it stands as Asia’s second-biggest company by market value. In an attempt to bolster its initiative, the company will invest $70 billion over the next five years in technology infrastructure, including cloud computing, artificial intelligence, and 5G network.
The mega-corporation issued out a report last month on its performance as of the first quarter of this year, and things aren’t looking bad for the ever-growing Chinese conglomerate.
Aside from that, Tencent America is currently looking to fill 13 game-related positions in its California-based studio. Additionally, the company is looking for five people who boast experience working on triple-A games and having at least five to ten years of experience under their belt to help churn out a number of blockbuster games.
And while all of that is going on, the company has its eyes set on the following tech according to website reuters.com:
“Key sectors of the investment include blockchain, servers, big data centres, supercomputer centres, internet of things operating systems, 5G networks and quantum computing, Dowson Tong, senior executive vice president of Tencent, told state media in an interview.”
According to the website, Tencent made the above announcement after Beijing made the call last month for a “tech-driven structural upgrade” to the mega-corporation through investment in “new infrastructure.”
Furthermore, the “new infrastructure” that Tencent is undergoing is also influenced by the “boom in demand for business software and cloud services.” Although Tencent’s Cloud service had 18% of China’s cloud market in the fourth quarter, it trailed behind Alibaba — which commanded 46.4% of China’s cloud market. With that said, Tencent’s new initiative aims to fix coming in second place through investing in the above tech in the coming years.
Lastly, expect to hear more from Tencent over the next five years, given that the mega-corporation wants to be Asia’s biggest company by market value while influencing the West after the “year of the dragon” — which takes place in the next four years.
