Alibaba plans to pump in US$29 billion to boost its cloud infrastructure over the next three years. This comes on the back of increasing demand for cloud and data centre services as a result of the COVID-19 pandemic.
According to an Alibaba statement, the money will be used on infrastructure and technologies related to operating systems, servers, chips, and networks.
“The COVID-19 pandemic has posed additional stress on the overall economy across sectors, but it also steers us to put more focus on the digital economy,” said Jeff Zhang, President of Alibaba Cloud Intelligence.
“By increasing our investment on cloud infrastructure and fundamental technologies, we hope to continue providing world-class, trusted computing resources to help businesses speed up the recovery process, and offer cloud-based intelligent solutions to support their digital transformation in the post-pandemic world,” he added.