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China’s Alibaba Takes On Amazon in European Cloud

December 04, 2018 / Daphne Zhang

Alibaba Group Holding Ltd. and Amazon.com Inc. AMZN -5.87% are squaring off in Europe—and not just in e-commerce but also in the quickly growing cloud-computing market.The Chinese company’s competition with Amazon, the world’s biggest cloud-computing player, reflects how Europe is turning into a battleground between China’s tech giants and Silicon Valley.“Europe is very strategic for us because a lot of European countries are quite advanced markets,” said Yeming Wang, who runs Alibaba’s European cloud business. Cloud computing is an important growth engine for Alibaba and Amazon. Amazon Web Services is one of the U.S. company’s biggest profit drivers, while revenue at the Chinese company’s cloud business more than doubled to about $2.1 billion during fiscal 2018.