Alibaba Overhauls Cloud Unit Management Following IPO Cancellation

Alibaba is restructuring its cloud computing unit and appointing new leaders in an effort to revive the division after canceling its IPO. The company will focus on three business units within the cloud space - public cloud, hybrid cloud, and cloud infrastructure - with executives overseeing each division reporting to Alibaba's top leadership. The move reflects Alibaba's aim to tap into the growing demand for artificial intelligence that relies on cloud infrastructure. The company hopes to capitalize on the potential of AI applications by prioritizing public cloud and increasing investments in AI-related software and hardware.