Alibaba Cloud announced in a press release today that it will invest $28.2 billion into its cloud infrastructure over the next three years to ensure the successful functioning of its services. <\/p>\n\n\n\n

The investment has been prompted due to increased demand for services like video conferencing and live-streaming as businesses adapt to the COVID-19 pandemic.<\/p>\n\n\n\n

Jeff Zhang, president, Alibaba Cloud Intelligence said in the statement: \u201cThe 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,\u201d <\/p>\n\n\n\n

Alibaba Cloud is currently the biggest cloud computing provider by market share in China and is the top cloud provider in the Asia Pacific market, according to Gartner<\/a>. <\/p>\n\n\n\n

Their cloud offering for the rest of the world, and particularly in the western world, still trails U.S. giants Amazon and Microsoft despite their international push, according to Synergy Research<\/a>. <\/p>\n\n\n\n

Zhang continued to say: \u201cBy 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,\u201d.<\/p>\n\n\n\n

Alibaba is not the only business increasing its attention and resources towards cloud technology with Insight Partners acquiring cloud backup and data management firm, Veeam, for $5 billion<\/a> back in the ideal time of early January 2020.<\/p>\n\n\n\n

Although their cloud service only makes up 7% of its total business revenue, executives are putting a lot of focus and resources to increase their market share. <\/p>\n\n\n\n

\u201cI think cloud will be … the main business of Alibaba in the future,\u201d Daniel Zhang, CEO and chairman, Alibaba said in a 2018 CNBC interview<\/a>. <\/p>\n\n\n\n

Alibaba is clearly seeing results in their cloud service offering as in their last quarterly earnings report, issued in February, Alibaba reported <\/a>cloud revenue grew 62% to $1.5 billion. Although it’s only 7% of their total business revenue, it’s their fastest growing service initiative. <\/p>\n","protected":false},"excerpt":{"rendered":"

Alibaba Cloud announced in a press release today that it will invest $28.2 billion into its cloud infrastructure over the next three years to ensure the successful functioning of its services. …<\/p>\n","protected":false},"author":2,"featured_media":1117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"categories":[42],"tags":[191,85,90],"class_list":["post-1116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cloud","tag-alibaba","tag-cloud","tag-infrastructure"],"_links":{"self":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts\/1116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/comments?post=1116"}],"version-history":[{"count":2,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts\/1116\/revisions"}],"predecessor-version":[{"id":1119,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts\/1116\/revisions\/1119"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/media\/1117"}],"wp:attachment":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/media?parent=1116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/categories?post=1116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/tags?post=1116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}