Alibaba to Invest $28 Billion Over Three Years in Cloud [Yahoo! Finance News]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: Yahoo! Finance News
) -- Alibaba Group Holding Ltd. will invest 200 billion yuan $28 billion) on cloud infrastructure such as datacenters over the next three years, a major effort to extend one of its fastest-growing business segments to more countries.The Chinese e-commerce giant plans to build more datacenters to complement an existing network covering 21 regions around the world, the company said in a statement. It will continue to develop its own technologies in areas such as AI-inference chips to support that expansion in cloud services, it added.Cloud computing has been one of the fastest-growing initiatives for Alibaba as it expands beyond its traditional e-commerce focus. The sector’s revenue rose 62% to 10.7 billion yuan in the December quarter, driven by contributions from the company’s public cloud and hybrid cloud operations.Alibaba warned in February that the coronavirus outbreak would have a broad impact on the Chinese economy and its business. While certain operations like grocery delivery
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- 2/7/24 - Beat
BABA
Sec Filings
- 4/2/24 - Form 6-K
- 3/26/24 - Form 6-K
- 2/23/24 - Form 20-F/A
- BABA's page on the SEC website