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April 21, 2020 01:30 am

Alibaba To Invest $28 Billion In Cloud Services After Coronavirus Boosted Demand

Chinese e-commerce giant Alibaba said it will invest $28 billion in its cloud infrastructure over three years -- "a plan that follows a boom in demand for business software as the coronavirus outbreak peaked in China," reports Reuters. From the report: The company said in a statement it will spend the funds on semiconductor and operating system development as well as building out its data centre infrastructure. While most of China's white collar employees were working from home throughout February, the country's dominant cloud player saw usage surge for its software, most notably DingTalk, a workplace chat app used by both businesses and schools. At one point, users complained of lags on the app due to the high volume of activity. The company acknowledged the issues on Weibo, the Chinese social networking site. Alibaba Cloud Intelligence president Jeff Zhang said in the statement that the 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."

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