Alibaba Cloud, the data intelligence backbone of Chinese e-commerce giant Alibaba Group, will invest an additional 200 billion yuan (US$28.2 billion) in the next three years on its cloud infrastructure, Aliyun, a subsidiary of Alibaba, said in a statement on Monday, Report informs.
"We are sure about the future of the digital economy. Smart cloud services are one of the main strategies of Alibaba. We have been investing in this field for 11 years and will not reduce the investments due to the pandemic. On the contrary, we have to increase the investments. Aliyun will invest an additional 200 billion yuan in the new technologies in the next three years," Zhang Jianfeng, president of Alibaba Cloud Intelligence said.
The investment will focus on technologies, including operating systems, servers, chips, and networks in more than 20 countries.