The lure of cloud computing and the latest technology buzzword, Artificial Intelligence has beckoned Alibaba Group Holding Ltd (NYSE:BABA). The Chinese conglomerate has announced its foray into deep realms of cloud computing.
Called AliCloud, the project will see the e-retailing giant work closely with NVIDIA Corporation (NASDAQ:NVDA). Together they will develop a frontier platform for cloud computing and artificial intelligence based on Big data. The project will see nearly 1,000 developers working to achieve these internet-driven goals over the next three years.
Dreams Big with AliCloud
Alibaba Group Holding Ltd (NYSE:BABA) expects to optimize its online selling domination by building big data solutions and machine learning. To achieve this comprehensive domain entrepreneurship it is making massive investments- to the tune of $1 billion.
Jack Ma, the founder of BABA group of companies envisions that the large number of big-budget government projects will use its cloud solutions. He hopes that they will seek big data processing and storage solutions that will rely on NVidia-backed cloud solutions.
A large number of cloud service providers have already entrenched themselves in cloud storage solutions, as in Amazon.com, Inc (NASDAQ:AMZN). Hence, it becomes critical for BABA to have a technology leading-edge over such big time players.
e-retailing market growth
Alibaba Group Holding Ltd (NYSE:BABA) is also targeting the growth of the e-retailing market in China. Research data points out that this industry will grow to $1.5 billion in the next four years. Much of the e-commerce storage is done on massive data centers, and this has prompted Alibaba Group to commence its second such data storage space in the US and Europe as well. The group will collaborate with NVIDIA Corporation (NASDAQ:NVDA) for its ‘deep-learning’ as well as high-performance computing. By 2018, the company hopes to earn $1 billion revenue from public cloud business, with hopes of $120 billion in global markets.
