Alibaba Cloud Goes Aggressive On Overseas Collaboration - Alibaba Gr Holding (NYSE:BABA)

Alibaba Group Holding Limited BABA Alibaba Cloud shared plans to double down on its overseas presence, including a $1 billion investment in a "global partner ecosystem upgrade."
Alibaba Cloud is now the third-largest public cloud provider.
It enjoyed a 9.5% market share in 2021, trailing Microsoft Corp MSFT (21%) and Amazon.com Inc AMZN (39%), according to Gartner.
The $1 billion initiative will likely support partners' technology innovation and market expansion with Alibaba Cloud in the coming three fiscal years.
The money will come in financial and non-financial incentives, including funding, rebates, and go-to-market initiatives.
Cloud infrastructure services spending in mainland China grew 11% in Q2 2022, reaching $7.3 billion and accounting for 12% of global cloud spending.
Alibaba Cloud remains the market leader in China's cloud services market. It grew 10% to account for 34% in Q2.
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.
Alibaba Cloud became the go-to cloud solution for many Chinese businesses expanding overseas.
However, growing national security tensions between China and the West drove some customers away from its cloud platform, TechCrunch reports.
ByteDance Ltd's TikTok reportedly migrated from Alibaba Cloud to Oracle Corp ORCL servers to win over U.S. regulators affecting Alibaba's growth trajectory.
Price Action: BABA shares traded higher by 1.30% at $82.65 in the premarket on the last check Thursday.
Photo by Fooksou Lamimo via Wikimedia Commons

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