Alibaba says to invest US$28 billion in cloud computing services

Alibaba says to invest US$28 billion in cloud computing services

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

A logo of Alibaba Group is seen at the company's headquarters in Hangzhou
A logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. REUTERS/Aly Song/Files

SHANGHAI: China's Alibaba Group Holding Ltd will invest 200 billion yuan (US$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)

Source: Reuters

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