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Alibaba jumped up its investment to $28 billion towards cloud services

Recently, due to an increasing demand for cloud services Alibaba Group Holding Ltd. said that it will be investing around 200 Billion Yuan roughly $28 billion in cloud services over a 3-year plan.

Most of this investment will be towards the development of semiconductors and operating systems. The company will also look towards developing its Data Centre Infrastructure.

While most of the people are doing work from home because of which there was a surge in usage of DingTalk software that is widely used in china by both businesses and schools.

COVID-19 pandemic “has posed additional stress on the overall economy across sectors” and the company hoped the investment would help businesses “speed up the recovery process” – Jeff Zhang president Alibaba Cloud Intelligence

According to research firm Canalys market share of Alibaba Cloud increased to 44.6 followed by Tencent cloud to 18% and Baidu Cloud 8%.

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