News Snapshot:
Daniel Zhang (Alibaba) Credit: Alibaba Alibaba Group’s cloud computing revenue grew by 50 per cent year-on-year in the company’s fiscal year ending 31 March 2021, despite losing a major customer in the March quarter, with the business unit pulling in over RMB60.1 billion (close to US$9.2 billion) in the 12-month period. For context, Alibaba Group as a whole claimed revenue of RMB187.4 billion (US$28.6 billion), an increase of 64 per cent year-over-year, during the year. The results come after the Chinese company's cloud business was ranked by analyst firm Gartner in its April 2021 report as the largest infrastructure-as-a-service (IaaS)...
