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Tencent Announces Strategic Pivot, Focusing On Cloud and AI

Alistair Taylor
Chinese tech major Tencent announced its first restructuring in six years and third in its 20 year history, including creating a new division to focus on business services such as cloud computing. This pivot comes off the back of the Chinese regulators freezing approvals for games licenses, a key contributor to Tencent’s revenue and an overall tightening in government regulations, which has seen a severe reduction in gaming approvals since March .
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