“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.”
Read the full article @ Reuters:
Alibaba to invest $28 billion in cloud services after coronavirus boosted demand
Alibaba Group Holding Ltd 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.