Huawei Aims To Spend $633M On Digital Energy HQ, R&D Center - Alphabet (NASDAQ:GOOG)

Huawei Technologies looks to spend CNY4 billion ($632.52 million) on building a new headquarters and R&D center for its digital power unit, Reuters reports.
Huawei Digital Power inked an agreement on February 17 with the local government of the southern metropolis of Shenzhen, where its parent is headquartered, for the project.
Huawei has been trying to diversify its portfolio beyond its core telecoms and smartphone businesses hit hard by U.S. export restrictions in recent years.
Huawei's U.S. suppliers included Microsoft Corp MSFT, Alphabet Inc's GOOG GOOGL Google, Intel Corp INTC, Qualcomm Inc QCOM, and Meta Platforms Inc FB before the U.S. banned it citing security threat.
In January, Huawei Digital Power and China Resources Power Holdings Co Ltd agreed to develop clean energy projects. China Resources Power operates coal-fired power plants across China.