Alibaba pledges $1 billion to cloud computing customers to reignite growth [CNBC]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: CNBC
The investment consists of “financial and non-financial incentives, such as funding, rebates and go-to-market initiatives,” Alibaba said. While cloud is a small part of Alibaba's overall business currently, the company's management sees it as a critical component to future growth and profitability. In this article Alibaba said it will invest $1 billion over the next three fiscal years to support its cloud computing customers as the Chinese e-commerce giant looks to reignite growth after a historical slowdown. The investment consists of “financial and non-financial incentives, such as funding, rebates and go-to-market initiatives,” Alibaba said in a press release on Thursday. The company said it is also setting up a program to help its customers localize their cloud computing business needs depending on the market. Alibaba is the world's third-largest cloud computing player behind Microsoft and Amazon , according to Gartner. While cloud computing is a small part of Alibaba
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