- Published on October 16, 2017
- In IT Services
What Does Alibaba’s Recent $15 billion Investment in Cloud Computing Mean?
- By Priya Singh
Chinese e-commerce giant Alibaba has unveiled plans to invest $15 billion in R&D projects. The money was announced at the company’s annual cloud computing conference in Hangzhou. The initiative is part of Alibaba’s so-called DAMO Academy (or “Discovery, Adventure, Momentum, and Outlook”) and will include the opening of seven new labs: two in China, with others in Singapore, Moscow, near Seattle, and in Silicon Valley.
With plans to begin recruiting talent from across the globe from various sectors, Alibaba is set to carry out research related to big data and AI with its vast access to data and computing power.
Alibaba’s increased focus on AI and quantum computing is a significant one, with both expected to dramatically change the industry. The company already has a “smar
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Priya Singh
Priya Singh leads the editorial team at AIM and comes with over six years of working experience as a journalist across broadcast and digital platforms. She loves technology and an avid follower of business and startup news. She is also a self-proclaimed baker and a crazy animal lover.
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