WSJ - US Business

Alibaba Sizes Up Facebook, Amazon With R&D Funding Splurge

HANGZHOU—Chinese e-commerce giant Alibaba Group Holding Ltd. says it will nearly triple spending on research and development, to more than $ 15 billion over the next three years, as it seeks to keep pace with Western rivals such as Alphabet Inc. and Inc.

Alibaba started as an online marketplace but has since moved into cloud computing and artificial-intelligence initiatives. In the previous three years, its spending on research and development was about $ 6 billion—a fraction of what major U.S. tech companies spend. US Business

Click to comment
Loading Facebook Comments ...

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top