Alibaba is investing $1 billion to take on Amazon's cloud computing juggernaut
The funding will be used to expand Aliyun's international presence, extend its alliance-based ecosystem, and to build new products that it can offer at lower costs, the company announced in a press release.This is the second of recent signs that Alibaba's getting serious about its cloud business. Just last month, Aliyun signed a series of new partnerships with the likes of Intel and data center company Equinix to localize its cloud offerings without having to build its own new data centers.
Right now, Amazon leads cloud computing in the US, on track to book more than $7 billion this year from its Amazon Web Services infrastructure business - that's than its four closest competitors (Salesforce, Microsoft, IBM, and Google) combined.
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.
- Argentine Football legend Diego Maradona, 60, dead
- Bengal Minister Hakim likely to take part in Covaxin Phase-3 trial
- Headspace to offer unlimited access to students from IIT and IIM in India for six months
- Cyclone Nivar likely to cross coast tonight, TN CM declares one more day holiday
- Delhi's air quality deteriorates to 'severe' category due to slow winds