Alibaba to invest at least $52B in AI over next 3 years - Breaking The News

Alibaba to invest at least $52B in AI over next 3 years

24 February

1 min read

EPA-EFE/WU HONG

Alibaba Group Holding Ltd. announced on Monday that it would invest at least 380 billion yuan (around $52.5 billion) in artificial intelligence (AI) and cloud infrastructure over the next three years, "reinforcing its commitment to long-term technological innovation."

The Chinese tech giant said this investment exceeds its total AI and cloud spending over the past decade and "underscores the company's focus on AI-driven growth and its role as a leading global cloud provider." During Alibaba's latest earnings call, CEO Eddie Wu said AI is a "once-in-a-generation" opportunity.

"With this investment, Alibaba is scaling up its AI capabilities and cloud infrastructure to support the next wave of technological advancements, ensuring businesses and developers have the tools to innovate and grow," the company added.

cloud investment alibaba ai

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