Alibaba Cloud, a Chinese cloud computing company and a subsidiary of Alibaba Group, has revealed plans to invest $28 billion into its technology over the next three years.
The capital will be used to fund the research and development of technologies such as its cloud operating system, servers, chips and networks, according to The Star.
“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,” said Jeff Zhang, president of Alibaba Cloud Intelligence and chief technology officer of Alibaba Group, in a statement.
The company has more than 100 cloud data centers in 21 regions around the world.
