Alibaba to invest $28 billion in cloud services after coronavirus boosted demand | Reuters

“Alibaba Group Holding Ltd (BABA.N) said it will invest 200 billion yuan ($28 billion) in its cloud infrastructure over three years – a plan that follows a boom in demand for business software as the coronavirus outbreak peaked in China.

The company said in a statement it will spend the funds on semiconductor and operating system development as well as building out its data centre infrastructure.”

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