Alibaba

Alibaba Boosts Cloud Services, Investing $28 Billion More

Earlier today, tech giant Alibaba announced that it is investing $28 billion in its cloud computing unit due to demand surge. The company highlighted that it’s a crucial division that will help its future growth outlook.

The company said that the money will be allocated to infrastructures and developing technology that is related to its operations. The e-commerce giant confirmed that most of the funds will focus on its operating systems, networks, servers, and even chips.

In a statement, Jeff Zhang, head of Alibaba Cloud Intelligence, discussed the impact of the pandemic on the digital landscape. Zhang said that it has stressed the overall economy but also shifted the focus to the digital economy.

The technology company is the largest cloud computing provider in mainland China. However, the company still trails behind the likes of Amazon and Microsoft in the global market shares.

The firm now pushes to extend its

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