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Alibaba is expanding in Asia

Alibaba is expanding in Asia

With this move, Alibaba wants to expand its business to an international level, and in this way will compete with Amazon and Microsoft. Other traces of the company are heading to other areas of Asia, including Singapore, the Philippines and Indonesia.

Chinese giant Alibaba has also introduced a new server chip called the Yitian 710. The goal is to power artificial intelligence applications in the Alibaba cloud. It is mainly about strengthening its own computing capabilities by adapting and designing its own server chips.

Alibaba shares rose up to 9% after reports that founder Jack Ma traveled to Europe after the release of the new chip. The cloud business is seen as a key part of the future growth of the large Alibaba company. It represents up to 8% of the company's total sales. Alibaba Cloud has also developed technologies, products and solutions to increase the availability of public cloud services for businesses and developers to complement infrastructure investments.

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Performance of Alibaba over 5 years (Source: Investing.com)