Netease technology news on May 22, Alibaba group released its financial performance in 2020. According to the financial report, during the financial year 2020 (April 2019 to the end of March 2020), Alibaba cloud's revenue was 40.016 billion yuan, a 62% jump over the previous year's revenue of 24.7 billion yuan, and Alibaba cloud's valuation rose to 77 billion US dollars.

In the fourth quarter of fiscal year 2020, Alibaba cloud's revenue reached 12.2 billion yuan, a year-on-year increase of 58%; in the second consecutive quarter, Alibaba cloud's revenue exceeded the 10 billion mark.

According to the financial report, investment in technology and new infrastructure is Alibaba cloud's strategic focus. Through core infrastructure and cloud infrastructure investment, Alibaba cloud will continue to expand its market leading advantages. Not long ago, Alibaba cloud announced that it would invest another 200 billion yuan in three years to increase the R & D of key core technologies and the construction of data centers for the future, so as to sprint to the world's largest cloud infrastructure. (Peng Lihui)

Source: Netease Technology Report