China is taking more steps to combat video game addiction, blocking new games from being licensed in the country.
Tencent and NetEase Stocks Take a Hit After China’s Gaming Ban
Tencent and NetEase have both taken a hit to their stock price following China’s decision to limit how much time minors can spend gaming.
TSMC Is Now Asia’s Most Valuable Company, Leapfrogging Tencent
TSMC has passed Tencent to become Asia’s most valuable company, a testament to TSMC’s ascendance and Tencent’s troubles at home.
Cloud Infrastructure Spending Hit $42 Billion in Q2
The cloud infrastructure market continued its impressive gains, with spending hitting $42 billion in Q2, according to Synergy Research Group.
Prosus Buying Stack Overflow for $1.8 Billion
Prosus has announced it is buying Stack Overflow for $1.8 billion, as it increases its focus on the online learning market.
Huawei Shifting Focus to the Cloud
As US-led sanctions take a toll, Huawei is increasingly shifting its focus to the cloud to help secure its future.
New Funding Round Values Reddit at an Astounding $3 Billion
Reddit announced a new $300 funding round valuing the company at an astounding $3 billion. The valuation is amazing considering that Reddit has been around for quite a while and is presumably past its high growth phase.
China Just Lifted New Video Game Ban
China just lifted its year-old ban on new video games but interestingly in the first batch approved none were from Tencent. Steinberg also noted that China “has gone very hyper” with the control they have put on games.
Chinese Telco Invests in Epic Games
Tencent Holdings Limited, a Chinese internet, mobile, and telecommunications provider, announced today that it has acquired a minority stake in Epic Games, Inc. Epic is the development studio behind the Unreal Engine and video game titles such as the Gears…