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Benzinga
Benzinga
Business
Ananya Gairola

Alibaba's Cloud Was Born Out Of 'Necessity,' Says Chairman Joe Tsai — Dependence On US Vendors Threatened 'All Of Our Profits'

The Alibaba Trade

Speaking at the HKU Business School Edward K Y Chen Distinguished Lecture, Alibaba Group Holdings (NYSE:BABA) chairman Joe Tsai said the company built its cloud business out of urgent need—not strategy—as rising reliance on U.S. technology vendors put its future profitability at risk.

Alibaba Turned To Cloud To Avoid Costly Dependence

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