Alibaba cloud unit sets sights on Amazon in $1 billion global push

Jul 29 2015 5:39AM EST | Source: REUTERS Technology

BEIJING (Reuters) - China's Alibaba Group Holding Ltd said on Wednesday it would invest $1 billion into its Aliyun cloud computing arm to challenge Amazon.com Inc's lucrative Web Services division, opening a global front in the battle between the two e-commerce giants.