- Alibaba Group Holding Limited BABA cloud computing unit opened a new campus covering an area of 198,200 square meters (2.1 million sq ft) in its home city of Hangzhou.
- Alibaba Cloud's new 10-building campus has a total floor area of 450,000 square meters, SCMP reports.
- It is roughly the size of the campus for Alphabet Inc GOOG GOOGL Google's Silicon Valley headquarters, which covers about 2 million sq ft in Mountain View, California.
- Alibaba Cloud highlighted eco-friendly designs across the campus, including a photovoltaic power generation system, flowerpots made from recycled plastic, and high-efficiency, low-energy devices in the on-site coffee shop.
- Alibaba Cloud had the fastest growth among all of Alibaba's business segments in the second quarter, making up 9% of total revenue.
- Still, growth fell from 20% in the fourth quarter to 12% in the first.
- In September, Alibaba Cloud shared plans to double down on its overseas presence, including a $1 billion investment in a "global partner ecosystem upgrade."
- It enjoyed a 9.5% market share in 2021, trailing Microsoft Corp MSFT (21%) and Amazon.com Inc AMZN (39%).
- Alibaba Cloud remains the market leader in China's cloud services market.
- Alibaba Cloud continued to do well with its overseas expansion plans this quarter, launching four data centers in three countries, namely Germany, Thailand, and Saudi Arabia.
- Price Action: BABA shares traded lower by 2.07% at $77.60 in the premarket on the last check Tuesday.
- Photo by Fooksou Lamimo via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
