Tencent to Boost Mideast Cloud Investments Amid Regional AI Push.

MIDDLE East; HONG Kong (China)

Tencent Holdings Ltd. plans to expand its cloud business in Saudi Arabia and the United Arab Emirates, recognizing the need for increased data storage investments in the Middle East as the region focuses on developing industries such as artificial intelligence. Tencent's Senior Executive Vice President, Dowson Tong, stated that the company sees a lot of potential in this market and will be increasing its investment. The company will initially focus on offering cloud storage to entertainment and gaming companies, as well as providing computing power for artificial intelligence applications. Tencent is one of many Chinese firms increasing their presence in Saudi Arabia. [Extracted from the article]

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