Chinese tech giant Tencent is set to invest ¥500 billion ($70 billion) into various technology infrastructures over the next five years.
As reported by Reuters, the areas that will receive investment include cloud computing, cybersecurity and artificial intelligence. Other sectors to get a cash inflow are blockchain, 5G networks, big data and supercomputer centres, and servers.
"Expediting the 'new infrastructure' strategy will help further cement virus containment success," said Tencent senior executive vice president Dowson Tong.
After having revealed its intentions, the price share in the company saw a rise of 2.5 per cent.
Earlier this month, the tech giant revealed it had seen a 26 per cent revenue increase year-on-year in Q1 2020. Of which mobile generated ¥34.8 billion ($4.9 billion).