Alibaba kicks off spending spree with US$1bil for cloud

The US$1bil (RM4.1bil) will be the initial funding for Project AsiaForward, which aims to nurture 100, 000 developers and tech startups over the next three years, Alibaba said in a statement yesterday.

HONG KONG: Alibaba Group Holding Ltd’s cloud division has pledged US$1bil (RM4.1bil) to support startups in Asia, marking one of its largest outlays since the tech giant pledged to boost spending and move past a bruising antitrust investigation at home.

The US$1bil (RM4.1bil) will be the initial funding for Project AsiaForward, which aims to nurture 100, 000 developers and tech startups over the next three years, Alibaba said in a statement yesterday.