Alibaba Cloud, part of the Chinese technology company Alibaba Group, plans to rapidly establish a global cloud computing network, according to a China Daily report.

The Alibaba global cloud computing network would cover regions such as Asia (including China, Japan, and South Korea), Southeast Asia, the Middle East, Europe, and the Americas to help Chinese businesses grow internationally.

The organisation plans to accelerate its global expansion in large language models and invest more in building overseas consulting, technology, and service teams, according to Wu Yongming, CEO of Alibaba Group and chairman and CEO of Alibaba Cloud Intelligence Group.

Alibaba Cloud operates 87 availability zones in 29 regions worldwide under its global infrastructure at the moment. It provides 394 cloud and AI products along with 59 technical services, purportedly making it the leading cloud service provider in the Asia-Pacific region.

Alibaba Group has announced plans to invest over 380 billion yuan (US$52.9 billion) in cloud and AI hardware infrastructure over the next three years.

Wu stated that going global is a natural step for Chinese companies. He noted that China is already leading in areas like 5G, artificial intelligence, and smart vehicles.

As Chinese businesses continue to grow, they are expected to have a greater impact on the global market through advancements in technology, supply chains, services, and brands.

Alibaba Cloud was notably also one of four technology partners involved in the HKMA Gen AI sandbox, a program which aims to explore the potential generative AI has in the banking sector via innovative use cases.

Featured image: Edited by Fintech News Hong Kong, based on image by Alibaba Group Media Library