Alibaba to Invest $28 Billion Over Three Years in Cloud Services
Bloomberg
Published Apr 19, 2020 11:00PM ET
Updated Apr 19, 2020 11:45PM ET
Alibaba to Invest $28 Billion Over Three Years in Cloud Services
(Bloomberg) -- Alibaba (NYSE:BABA) Group Holding Ltd. will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years, a major effort to extend one of its fastest-growing business segments to more countries.
The Chinese e-commerce giant plans to build more datacenters to complement an existing network covering 21 regions around the world, the company said in a statement. It will continue to develop its own technologies in areas such as AI-inference chips to support that expansion in cloud services, it added.
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