Alibaba is plowing $15 billion into R&D with seven new research labs worldwide

China’s largest e-commerce company is spending big money to move past its image as a mere online marketplace.

Today at its annual cloud computing conference in Hangzhou, Alibaba CTO Jeff Zhang announced the company will launch Alibaba DAMO Academy, a global research program that will set up research and development labs worldwide. The effort highlights how Alibaba is working to expand beyond Chinese e-commerce, its bread-and-butter, and become a global tech giant capable of competing with...

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