Nov 3 (Reuters) – China has increased subsidies that cut energy bills by up to half for some of the country’s largest data centres, the Financial Times reported on Monday, citing people familiar with the matter.
Local governments have beefed up incentives to help Chinese tech giants such as ByteDance, Alibaba (9988.HK), opens new tab and Tencent (0700.HK), opens new tab, which have been hit with higher electricity costs following Beijing’s ban on purchasing Nvidia’s (NVDA.O), opens new tab artificial intelligence chips, the newspaper reported.
Sign up here.
Reuters could not immediately confirm the report.
Reporting by Nilutpal Timsina in Bengaluru; Editing by Subhranshu Sahu
Our Standards: The Thomson Reuters Trust Principles., opens new tab