(Reuters) - Amazon.com Inc's shares surged more than 20 percent in early trading on Friday, adding more than $46 billion to the company's market value, after strong growth in the e-commerce giant's cloud business drove a surprise quarterly profit.
The company's market capitalization soared to more than $270 billion, overtaking that of Wal-Mart Stores, the world's biggest retailer.
SHANGHAI/BEIJING (Reuters) - E-commerce giant Alibaba Group Holding Ltd is an underdog in the global cloud computing industry, but it has one thing going for it: it's Chinese.
Alibaba this week scored a minor deal with China's northeastern port city of Dalian to build a cloud computing center and provide online government services such as bill payment.
The pact is a small part of a growing portfolio of similar cloud services tie-ups between Alibaba and government bodies around China and comes against a backdrop of Beijing's deepening paranoia about foreign technology.
Cloud computing is computing in which large groups of remote servers are networked in such a way to provide some centralized service (i.e., data storage or online access to computer services or resources). Cloud computing ("the cloud") focuses on maximizing the effectiveness of shared resources. Cloud computing is the convergence of multiple concepts which includes virtualization, distributed applications, grid, maturity of enterprise software applications and enterprise IT management.
FRANKFURT (Reuters) - Britain's Interoute, a high-capacity data network and corporate cloud services provider, is taking on new private equity investors to fund acquisitions across Europe and the United States, the company said on Monday.
Aleph Capital Partners, a UK investment firm headed by former Goldman Sachs European private equity investment chief Hugues Lepic, and Crestview Partners, a U.S. private equity firm founded by ex-Goldman colleagues, have agreed to buy a 30 percent stake in London-based Interoute.
HANGZHOU, China (Reuters) - Alibaba Group Holding Ltd is launching a cloud computing hub in Silicon Valley on Wednesday, the e-commerce giant's first outside of China, underscoring its global ambitions in the face of stiff and entrenched competition.
The new California data center marks the Chinese company's latest measured expansion onto American soil, and into a hotly contested U.S. market now dominated by Amazon.com Inc , Microsoft Corp and Google Inc.
BARCELONA (Reuters) - Telecom equipment maker Ericsson and chipmaker Intel have agreed a partnership deal to help network operator customers build datacenters, putting them on a more competitive footing against big, cloud-based Internet firms such as Google, Facebook and Amazon.
"We will build datacenter equipment which will actually have the same performance as many of the big cloud providers are doing for themselves," Ericsson's chief executive, Hans Vestberg, told a news conference at the Mobile World Congress telecoms trade show in Barcelona on Monday.
(Reuters) - International Business Machines Corp, which ruled computing in the age of the mainframe, is targeting $40 billion in annual revenue from the cloud, big data, security and other growth areas by 2018.
The aggressive target, set by IBM executives at the company's annual investor meeting in New York on Thursday, is the latest step for the technology giant towards emerging, high-margin businesses, and away from its previous strongholds in hardware and servers.
LONDON (Reuters) - British data center provider Telecity Group Plc has agreed a non-binding $2.2 billion all-share deal to buy New York-listed Interxion Holding NV, looking to tap growing demand for "cloud" technology.
Shares in Telecity, which like its new partner operates some of the huge computer centers which process traffic on the Internet, rose more than 16 percent to their highest in some 19 months.
LONDON (Reuters) - IBM is enjoying a wave of major technology outsourcing deals from European customers in the fourth quarter and the new contract signings are not over yet, an executive for the computer services giant said in an interview.
Late on Tuesday, IBM announced the third in a string of billion dollar plus contracts, saying it had won a seven-year, $1.25 billion deal with WPP, the world's top advertising firm, to run WPP operations in the cloud.