Tencent Announces Strategic Pivot, Focusing On Cloud and AI
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 .
min read