Despite Slower Growth, Alibaba's Cloud Unit Poised to Become China's Largest Provider

Benzinga
Benzinga
  • 8 months ago
Alibaba's new CEO, Eddie Wu, has outlined the company's strategic focuses on prioritizing users and utilizing AI. The company is also promoting young employees to maintain a startup mindset. Alibaba's founder, Daniel Zhang, has unexpectedly returned as CEO of the cloud division, emphasizing the importance of AI in driving change. Alibaba's recovery from regulatory challenges has been complicated by competition and a slowing Chinese economy. The cloud unit, despite the smallest revenue growth, is estimated to be China's largest cloud provider.

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