Alibaba to invest $28b in cloud services as coronavirus boosts demand

REUTERS/Aly Song

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.

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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