00:00 Meanwhile, Alibaba Group CEO Daniel Zhang made a surprising announcement regarding his departure
00:06 from the company's cloud computing business. The news has resulted in a decline of over 4%
00:13 in the Hong Kong-listed shares of Alibaba. The company had previously announced that
00:18 Zhang planned to hand over the role of Group CEO to Eddie Wu, where he will also be taking charge
00:25 of the cloud business. China's largest cloud provider, the cloud unit, is expected to be
00:31 separated from Alibaba as a result of the company's restructuring efforts. Analysts have
00:38 estimated that the value of the cloud unit falls within the range of $41 billion to $60 billion.
00:44 dollars.
