Alibaba’s Big Investment in Cloud Business
In 2009, Alibaba Cloud was founded as a set of cloud services for customers worldwide. Now, it includes features such as elastic computing, databases, storage, network virtualization services, among others. Over time, it has functioned as the backbone of the Alibaba Group, which has grown to be compared to Amazon as a large e-commerce empire.
During the Alibaba Cloud 2022 Summit, the group unveiled new products to support technology innovation among enterprises with?a $1 billion investment for a global partner ecosystem upgrade. As a result, Wall Street analysts are bullish on BABA stock.