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Alibaba Expects Profit From Cloud Computing Unit

By
Juro Osawa
· · Source: The Information

Alibaba Group’s chief financial officer said that the Chinese e-commerce giant expects its cloud computing business unit to become profitable in the current fiscal year. Speaking at Alibaba’s annual investor event on Wednesday, CFO Maggie Wu also said Alibaba Cloud now has more than 3 million paying enterprise customers. Alibaba Cloud, a fast-growing business that now accounts for 8% of...

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