Capital spending on cloud computing infrastructure by Apple (AAPL) and U.S. Internet companies has slowed as Chinese companies, led by Alibaba (BABA), come on stronger, says RBC Capital in a research report. Apple’s September-quarter cloud spending slipped 5% to $3.6 billion, while Alibaba’s jumped 64%, albeit from a lower base, to $197 million, says RBC Capital. Apple has expanded its data center capacity to deliver more Web services to
Two Alibaba (BABA)-backed Internet startups valued above $1 billion, Amazon (AMZN) rival Jet.com and chat app Tango, both had notable developments Tuesday. But as one gives thanks, the other has had its wings clipped. Jet Gets $350 Million In Funding Jet.com announced a $350 million funding infusion, led by Fidelity Investments. That values the e-commerce startup at $1 billion. The company expects another $150 million soon. Jet didn’t name other
China e-commerce giant Alibaba Group (BABA) is looking to sell its 7% stake in Chinese online discounts site Meituan-Dianping for about $1 billion, according to a report Monday in the Wall Street Journal. Alibaba-backed Meituan.com and Tencent Holdings (TCEHY)-backed Dianping Holdings merged last month to create China’s leading online booking and discounts platform, similar to Groupon (GRPN). Alibaba could instead become a major shareholder in