(Bloomberg) Tencent Holdings has unveiled its first chips that will be used in cloud servers, video transcoding, and artificial intelligence.
The Conglomerate’s Senior Vice President Dowson Tong promised that the company would invest $3 billion to support cloud business partners in three years.
Tencent unveiled its chip segment in 2020 and has invested in other local chip companies to grow the unit.
Tencent suffered a blow after Beijing began a major crackdown on internet companies, affecting its online business. The company is betting on the new move to mitigate the impact.
The internet giant also seems to be positioning itself to benefit from government support for tech companies in the wake of U.S. sanctions on China’s semiconductor business.
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