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Alibaba expands cloud business abroad

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Chinese e-commerce giant Alibaba is planning to further expand its cloud business abroad.

The company announced it would open its first data centers in South Korea and Thailand in 2022.

Alibaba also launched a new chip called Yitian 710 that will go into servers called Panjiu. The goal is to power artificial intelligence applications on Alibaba's cloud.

Read more from CNBC.

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