Chinese e-commerce giant Alibaba Group Holding saw revenue rise 8 per cent in the December quarter to beat analysts’ estimates, as the company’s cloud computing services unit posted strong growth. The Hangzhou-based tech conglomerate on Thursday reported total revenue of 280.

Alibaba Cloud, the cloud computing arm of Alibaba Group, has inaugurated its second data center in Thailand, expanding its infrastructure to meet the rising demand for cloud services and generative artificial intelligence (AI).

The spending over the next three years is more than half the US$100 billion the US plans for its Stargate project.

Improvements in E-Commerce Business Although China’s retail market has been mixed in recent quarters due to uncertain consumer sentiment and decelerating economic

Alibaba to invest over $52 billion in AI, cloud infrastructure over next three years. Prosus to acquire Just Eat Takeaway for €4.1B in all-cash deal. Shein's 2024 profit dropped nearly 40%.

U.S.-listed shares of Alibaba Group Holding (BABA) rose more than 8% on Thursday and were climbing in after-hours trading after the Chinese e-commerce giant posted quarterly results, with retail sentiment staying bullish.