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Companies

Alibaba to invest $28bn in cloud services as COVID-19 boosts demand

The company will spend the funds on semiconductor and operating system development

China's dominant cloud player saw usage surge for its software.    © Reuters

SHANGHAI (Reuters) -- Alibaba Group Holding Ltd said it will invest 200 billion yuan ($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.

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