Alibaba pledges $1 billion to cloud computing customers to reignite growth

Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Alibaba said it will invest $1 billion over the next three fiscal years to support its cloud computing customers as the Chinese e-commerce giant looks to reignite growth after a historical slowdown. The investment consists of “financial and non-financial incentives, such as funding, rebates and go-to-market initiatives,” Alibaba said in a press release on Thursday. The company said it is also setting up a…