Alibaba reveals huge cloud investment push
Chinese ecommerce giant will invest over $28bn in cloud over next three years
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Alibaba has announced that it will invest $28.26bn in itscloud computingdivision over the next three years as demand for video conferencing and other cloud services has soared during the global pandemic.
According to the Chinese ecommerce giant, the funds will be used to invest in infrastructure and technologies related tooperating systems, servers, chip and networks.
Although Alibaba is the largest cloud computing provider in its home country of China, it still falls behindAmazonandMicrosoftin the US market despite its recentinternational push. However, the company has continued to invest heavily in cloud computing as its executives believe it will become a critical area in the future.
Global cloud market
In a statement, Jeff Zhang, president of Alibaba Cloud Intelligence and CTO of the Alibaba Group, explained how the investment will allow it to help businesses speed up their recovery process, saying:
“By increasing our investment on cloud infrastructure and fundamental technologies, we hope to continue providing world-class, trusted computing resources to help businesses speed up the recovery process, and offer cloud-based intelligent solutions to support their digital transformation in the post-pandemic world.”
By investing $28.26bn in its cloud computing division, Alibaba has a chance to further expand into international markets while also building up its product and customer base.
ViaCNBC
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After working with the TechRadar Pro team for the last several years, Anthony is now the security and networking editor at Tom’s Guide where he covers everything from data breaches and ransomware gangs to the best way to cover your whole home or business with Wi-Fi. When not writing, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.
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