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Alibaba to Invest $28 Billion Over Three Years in Cloud Services

Published 04/19/2020, 11:00 PM
Updated 04/19/2020, 11:45 PM
© Bloomberg. The Alibaba Group Holdings Ltd. logo is displayed outside the company's offices in Beijing, China, on Wednesday, Jan. 30, 2019. Alibaba, China's dominant e-commerce company, will offer clues to the health of the nation's middle-class, and how it's navigating the slowdown, when it unveils earnings Jan. 30. Photographer: Gilles Sabrie/Bloomberg

(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.

©2020 Bloomberg L.P.

Latest comments

2nd phase of China's hostile takeover of the west, and the whole world! This is all just a nightmare, right?
Dangerous times ahead.
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