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在线翻译:
szdaily -> Business
Alibaba in $15b overseas R&D drive
    2017-October-12  08:53    Shenzhen Daily

CHINA’S top e-commerce firm, Alibaba Group Holding Ltd., is launching a US$15 billion drive to build overseas research hubs as the deep-pocketed firm looks to compete with global leaders in e-commerce, logistics and cloud technology.

The Alibaba Damo Academy would launch eight research bases in China, Israel, the United States, Russia and Singapore and was hiring 100 researchers to work on artificial intelligence (AI), quantum computing and fintech, the company said in a statement yesterday.

“The Alibaba DAMO Academy will be at the forefront of developing next-generation technology that will spur the growth of Alibaba and our partners,” chief technology officer Jeff Zhang said.

The Chinese giant and its affiliates have undergone a rapid expansion in the past year, bringing it into direct competition with U.S. e-retailer Amazon.com Inc., as well as global payments, cloud and logistics firms.

Alibaba surpassed Amazon as the world’s biggest e-commerce company Tuesday as the Hangzhou-based company reached the threshold of US$470 billion in market value.

Analysts said Alibaba regained its title as the world’s biggest e-commerce company after over two years thanks to its incredible performance this year.

Since last year, Alibaba has invested roughly US$2 billion to acquire a majority stake in Singapore-based retailer Lazada.com, creating a network of e-commerce hubs across Southeast Asia in partnership with payment affiliate Ant Financial.

It has also pursued a US$800 million bid for U.S. money transfer service MoneyGram in a pending deal that has come under U.S. scrutiny.

Along with an existing data science research lab in California, Alibaba has opened new data centers in Europe, the United States, the Middle East, Australia, Japan, India and Indonesia since 2016 in a bid to boost its cloud business.(SD-Agencies)

 

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