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Tencent Opens Office in Silicon Valley, First in U.S.

Chinese technology company Tencent Holdings  (TCEHY) opened a data center in Silicon Valley, its first location in the United States, as the company makes good on its plans to increase its cloud computing capabilities. 

Tencent joins Alibaba  (BABA) as the only two Chinese companies with a presence in the technology hub of Silicon Valley.

The Chinese market for cloud infrastructure as a service rose 68% to $1.47 billion in 2016. Alibaba controls 40% of that market with Microsoft  (MSFT) being the top foreign competitor with 5% of the market, according to the Wall Street Journal


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