Alibaba Expands Global Cloud Footprint with New Data Centers

The tech giant aims to leverage AI and cloud services for growth, targeting key markets in Asia and North America.

Alibaba plans to open its first cloud region in Mexico and new data centers in South Korea, Malaysia, Thailand, and the Philippines.
The company views AI as a major growth driver, integrating it across business units to enhance user experiences and business models.
Alibaba's cloud division aims to achieve double-digit growth in the second half of the fiscal year.
The company is making significant price cuts on its AI services to compete with rivals like ByteDance and Baidu.
Alibaba is raising $4.5 billion through convertible bonds to finance share repurchases and support its expansion plans.