Tencent’s Valorant league is betting on China's esports comeback
For those that haven't heard of it, esports is a form of professional gaming where players compete in massive tournaments, and fans tune in for live streams.
Tencent
Tencent denies rumors of impending regulatory crackdown
The backstory:
* Beijing started cracking down on private enterprises and billionaires, with the most notable tech giant and billionaire on the receiving end of this being Alibaba Group Holding Limited’s Jack Ma when Ant Group’s IPO was halted back in late 2020.
* Since then, China has been on
Tencent’s Pony Ma loses US$14 billion in crackdown. What’s going on?
Turns out that Tencent has actually lost more money in the past nine months with their market cap cut nearly in half, falling from an all-time high of over US$916 billion to US$550 billion.
How have Tencent and Alibaba been affected by the Chinese government crackdowns?
* These past
Tencent to invest US$70 billion to advance tech infrastructure in China
Chinese tech giant Tencent plans to invest 500 billion yuan (US$70 billion) over the next five years towards making advances in cloud computing and artificial intelligence (AI).
The company will focus other investments towards digital infrastructure such as blockchain technology, Internet of Things, quantum computing, 5G mobile networks and