Alibaba to Invest $28 Billion Over Three Years in Cloud [Yahoo! Finance News]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance News
) -- Alibaba 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.Cloud computing has been one of the fastest-growing initiatives for Alibaba as it expands beyond its traditional e-commerce focus. The sector’s revenue rose 62% to 10.7 billion yuan in the December quarter, driven by contribu
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