banner

Alibaba cloud unit sets sights on Amazon in $1 billion global push

Written by Reuters
The logo of Alibaba Group is seen inside the company's headquarters in Hangzhou
  • Reuters
  • 3 years ago

The logo of Alibaba Group is seen inside the company's headquarters in Hangzhou

China’s Alibaba Group Holding Ltd (BABA.N) said on Wednesday it would invest $1 billion into its Aliyun cloud computing arm to challenge Amazon.com Inc’s (AMZN.O) lucrative Web Services division, opening a global front in the battle between the two e-commerce giants.

With the global cloud computing market estimated by analysts to be worth about $20 billion, Alibaba said in a statement the investment would go toward setting up new Aliyun data centers in the Middle East, Singapore, Japan and Europe. The firm also plans to strike business partnerships with telecom and enterprise technology providers in those regions.

Read More

0 0
Article Tags:
· · · · ·
Article Categories:
Tech

Leave a Comment

Your email address will not be published. Required fields are marked *