Chindata Group, Tencent Partner For Cleaner Cloud Computing Infrastructure

Datacenter solution provider Chindata Group Holdings CD collaborated with Tencent Holdings Ltd TCEHY to expand the cloud computing infrastructure industry to accomplish China's carbon-neutral target.
They will develop Datong Smart City, Datong Industrial Internet, Smart Cultural Tourism, Smart Medical, and other projects in the first phase.
They will jointly pool resources to discuss the viability of site selection in China, expand the infrastructure cooperation on data centers, network, information technology, and work on the development plan and the local government.
Meanwhile, they will build a national joint laboratory of cloud computing infrastructure. They will also explore partnership opportunities for data center equipment manufacturing.
Chindata Group and Tencent also plan to fortify research cooperation in integrating power supply, power grid, power load, and power storage.
Chindata Group and Tencent will leverage their cloud computing infrastructure abilities and work on joint cloud computing programs covering industries like government affairs, industry, cultural tourism, and education, further accelerating China's digital infrastructure development.
Price action: CD shares are up 6.85% at $15.6 in the premarket session Wednesday, while TCEHY shares closed lower by 2.41% at $74.16 on Tuesday.