China's billionaire population is predicted to increase by 5% by year-end, with cloud infrastructure spending reaching $9.2bn in Q1 2024.
China's billionaire population increases as the economy recovers, predicted to expand by 5% by the end of the year. The government plans to boost computing power to 300 exaflops by 2025 and invest in AI. Cloud infrastructure spending reached $9.2bn in Q1 2024, with Alibaba, Huawei, and Tencent comprising 72% of the market. Richest person in China, Zhong Shanshan, leads China's top 30 wealthiest individuals.
June 30, 2024
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