Business· TMT

Alibaba Cloud upgrades to Alibaba Cloud Intelligent Group with new president

minutes 2018/11/26 08:34:39
China's News, China's Financial News, Alibaba Cloud

Nov 26, 2018 (China Knowledge) - Alibaba Group CEO, Zhang Yong, has announced, today, that Alibaba Cloud Group has been upgraded to Alibaba Cloud Intelligence Group. Zhang Jianfeng, Group Chief Technology Officer (CTO), will, concurrently, serve as the President of Alibaba Cloud Intelligence Group.

The financial report shows that the revenue of Alibaba Cloud in the second quarter hit RMB 5.667 billion, an increase of 90% compared to RMB 2.975 billion last year. The group said that the rapid growth was mainly due to the improved revenue of high value-added services and the increasing number of paying customer.

By comparison, the net sales of Amazon Web Services (AWS) as the Cloud services pioneer, remained USD 6.679 billion, an increase of 46% over the same time.

The group said that the gap between us and AWS regarding operating income is 37 times, and now it is only 7-8 times. There is still a particular technological gap between the two, and Alibaba Cloud plans to reduce the technology gap with AWS in about three years.

After upgrading the Alibaba Cloud business group to the Alibaba Cloud Intelligence Group, the Alibaba Cloud's intellectual capabilities and Alibaba Cloud will be fully integrated to build an intelligent technology infrastructure based on cloud computing in the digital economy era, which will be made available to the public.

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