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Alibaba will invest $28 billion to stay current and improve the cloud infrastructure

Alibaba will invest $28 billion to stay current and improve the cloud infrastructure

cloud infrastructure

Alibaba will invest $28 billion to stay current and improve the cloud infrastructure by 2023.

Alibaba announced that it will invest 200 billion yuan ($28 billion) in its infrastructure (“cloud”) over the next three years, as demand has soared with the use of telecommuting due to the Coronavirus epidemic.

In a press release, China’s online retail giant said it will use the funds to develop semiconductors and operating systems, while building a data center.

The cloud division is one of the most successful infrastructures of the Chinese group. The revenues it generated in the fourth quarter of 2019 exceeded the 10-billion-yuan mark for the first time.

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