Tencent Holdings has said that it will invest more than US$1.5 billion over the next five years in its cloud-computing business. This will include construction and operation of data centres in China, Hong Kong and North America, and also to recruit new talent and promote cloud services through marketing campaigns.

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.

Tencent’s chief internet rival, Alibaba Group Holding, is also pumping in money into its cloud computing capabilities, even though the bulk of its business comes from e-commerce. In March, it opened its first US data center in Silicon Valley, in addition to its existing data centers in China and Hong Kong.

Source: Channel News Asia