Alibaba is doubling down on cloud computing with a Rmb200bn ($28bn) three-year investment plan as the coronavirus pandemic fuels demand for internet infrastructure and technologies that enable computing from anywhere.
The Chinese ecommerce group, one of the world’s top cloud providers, said it would spend the money to build next-generation data centres and develop related technologies including semiconductors and servers.
The outlay would work out to roughly Rmb67bn a year — a significant increase on Alibaba’s total capital expenditure of Rmb35.5bn during its latest financial year.
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