Alibaba invests $1 billion in cloud services

Chinese technology giant Alibaba has invested $1 billion in cloud services. The company said it will invest in technology innovation and market expansion of its partners on the Alibaba Cloud side over the next three fiscal years. Alibaba Cloud is currently the world's third-largest public cloud provider and has approximately 11,000 partners worldwide, including Salesforce, VMware, Fortinet, IBM and Neo4j.