UPDATE: Alibaba to Invest Additional $1B in Cloud Computing Arm Aliyun

Alibaba Group

today announced that it will invest an additional US$1 billion to fuel further growth at Aliyun, its cloud computing arm, a testament to cloud computing as an important growth area for Alibaba. The additional funding will be used to expand Aliyun's international presence, extend and support an alliance-based global cloud computing ecosystem, and for the development of new cloud and big data solutions that enable customers to increase productivity, lower costs and scale quickly as their businesses grow. "Aliyun has become a world-class cloud computing service platform that is the market leader in China, bearing the fruits of our investment over the past six years. As the physical and digital are becoming