Alibaba pledges to invest 1.025 million dollars in cloud technology

September 27, 2022 by
Frank Calviño

Alibaba Cloud, the technology and digital intelligence backbone of the Alibaba Group has announced its latest international strategic roadmap with a clear objective: to double its cloud business outside China.

To this end, the e-commerce giant will invest $1 billion (€1.025 million dollars) to "support its partners' technology innovation and market expansion with its cloud over the next three fiscal years."

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Alibaba increases its customer service capacity 

In addition, Alibaba has also announced the opening of three customer service centers in Kuala Lumpur (Malaysia), Porto (Portugal), and Mexico City (Mexico) to help its customers on their journey to the cloud, and three other centers to improve its technical support, one in the aforementioned city in Malaysia, another in Dubai (United Arab Emirates) and Hong Kong.

The company announced last August that its cloud computing business grew by 10% in its first fiscal quarter, when it turned over 205.555 billion yuan (almost 30 billion euros) between all its businesses, practically the same figure as in the same period of the previous year.

Alibaba, which posted a net profit of 22.739 billion yuan (about 3.306 billion euros) in that quarter, 50% less than in the same period last year, blamed this drop on the outbreaks of coronavirus in China.

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