Alibaba's cloud division eyes state firms to raise up to $3b

Alibaba's cloud division eyes state firms to raise up to $3b

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File photo

Alibaba Group Holding Ltd’s cloud division is weighing raising funds via a private round from Chinese state-owned enterprises ahead of the business’ market debut in Hong Kong, Bloomberg News reported on Monday.