Alibaba to invest $28bn in cloud technology to support digital business

Alibaba Group’s data intelligence platform Alibaba Cloud will invest RMB200bn ($28bn) in its cloud infrastructure over the next three years, focusing on technologies including operating systems, servers, chips and network.

The company says the move aims to support businesses across different industries to speed up their digital transformation post-pandemic.

Alibaba Cloud Intelligence president Jeff Zhang said: “The Covid-19 pandemic has posed additional stress on the overall economy across sectors, but it also steers us to put more focus on the digital economy.”

Alibaba Cloud says it ranks as the number one public cloud service provider in APAC and number three globally.