10 Best Cloud Stocks To Buy According to Hedge Funds

5. Alibaba Group (NYSE:BABA)

Number of Hedge Fund Investors: 115

Alibaba Group (NYSE:BABA) has forayed into the cloud computing space through Alibaba Cloud, a platform that offers services that include databases, networking and analytics to businesses, developers and government. It offers an open ecosystem that is constantly upgraded to offer an enhanced experience to its stakeholders.

BABA offers free training and co-marketing opportunities, making it a widely accepted cloud platform. The platform has found diverse applications that include supporting TNG eWallet in Malaysia, ZA digital bank in Hong Kong and the MiniMax AI platform in China. This cloud business has around 12,000 partners with a revenue of $4.1 billion in the quarter ending September, growing 7% y-o-y. The business supports more than 12,000 partners and is looking to make inroads in the South Eastern market with collaborations in the pipeline that include Telkom from Indonesia and Yell Group from Thailand. In a bid to incentivize the adoption of cloud products, BABA had earlier reduced the price of its Large Language Models by 85%.