saw this on reddit and thought it was interesting.
Covid lockdowns in China’s biggest cities have sparked a hike in business for Alibaba and Baidu, thanks to surging demand for their cloud services as millions of citizens work from home, and in Alibaba’s case, shop for goods online.
Alibaba’s revenue beat market expectations for the fourth quarter, and its strong results come at a time when Beijing has vowed to boost support for tech companies, after a regulatory crackdown that has lasted about 18 months.
https://www.asiafinancial.com/alibaba-earnings-up-on-high-online-demand-amid-lockdowns
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