China’s Alibaba to invest US$1bil in cloud computing

In the clouds: The Aliyun unit will set up cloud computing centres in Singapore, Japan, the Middle East and Europe, Alibaba said in a statement. Photo: AFP

SHANGHAI: Chinese e-commerce giant Alibaba will invest US$1bil (RM3.81bil) in its cloud computing arm to expand its international presence, the company said, as it looks outside its core business and beyond traditional markets. 

The Aliyun unit will use the funds in part to set up cloud computing centres in Singapore and Japan, as well as in the Middle East and Europe, Alibaba said in a statement.