Tencent Cloud Shuns Price War in Intensifying AI Race
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IDC data shows Tencent Cloud held 11.7% of China’s public cloud PaaS market in the second half of 2024.
Tencent’s Cloud unit said Tuesday that it will not join a price war in China’s increasingly competitive artificial intelligence (AI) cloud market, betting instead on sustainable growth and global expansion.
Speaking at the Tencent Global Digital Ecosystem Summit, Li Qiang, Tencent Vice President and President of Enterprise Business, warned that price-driven competition has historically eroded profits across industries, from ride-hailing to smartphones to electric vehicles.
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