Nigeria, Feb. 21 -- This report is from today's TNC's Daily Open, our international markets update. TNC Daily Open keeps investors informed on everything they need to know, no matter where they are.

In the last quarter of 2024, Chinese digital giant Alibaba reported a staggering 239% increase in net profit year over year. Though rising retail sales also contributed, CEO Eddie Wu credited the company's cloud business growth and its triple-digit artificial intelligence expansion over the previous six quarters for the impressive outcome.

Like Alibaba, Amazon serves as both a cloud provider and a merchant. Although the company's retail division generates most of its income, its cloud computing services also contribute significantly. As a si...