Alibaba says to invest $28 billion in cloud computing services

FAN Editor 4 years ago
FILE PHOTO: A logo of Alibaba Group is seen at the World Internet Conference (WIC) in Wuzhen
FILE PHOTO: A logo of Alibaba Group is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song/File Photo

April 20, 2020

SHANGHAI (Reuters) – China’s Alibaba Group Holding Ltd will invest 200 billion yuan ($28.27 billion) in cloud infrastructure over a three year period, the e-commerce company said on Monday.

The plan comes as the coronavirus pandemic has increased demand for cloud services and data centres.

(Reporting by Josh Horwitz; Editing by Christian Schmollinger)

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