AT&T makes $1B cloud bet

AT&T plans to invest $1 billion in cloud computing and mobile offerings, following other traditional telephone companies who want to break into the cloud market, according to a CRN report.

The company will be spending money on deploying next-generation services such as mobile applications, cloud-based solutions and network sourcing, Andrew R. Hickey wrote.

“We continue to invest significantly in cloud-based, mobility and network sourcing solutions because customers are increasingly recognizing that transformative services like these increase productivity, improve operational effectiveness and lower costs,” said John Stankey, president and CEO of AT&T Business Solutions.