Alibaba Group Holding Ltd has announced plans to invest over 380 billion yuan (approximately $52.4 billion) in artificial intelligence (AI) and cloud computing infrastructure over the next three years. This investment surpasses the company’s total spending on AI and cloud computing over the past decade, underscoring its commitment to advancing technological innovation.
www.multilinks.biz
CEO Eddie Wu Yongming emphasized that AI represents a “once-in-a-generation” opportunity, with the potential to become the world’s largest industry if Artificial General Intelligence (AGI) is achieved.
thetechportal.com This strategic move positions Alibaba at the forefront of China’s AI race, aligning with efforts by other tech giants like ByteDance, which plans to invest over 150 billion yuan in AI-focused capital expenditures.
www.multilinks.biz
The announcement follows Alibaba’s recent financial report, which revealed an 8% increase in revenue to $38.6 billion for the quarter ending December 31, surpassing expectations.
businessinsider.com This significant investment in AI and cloud computing is expected to further enhance Alibaba’s technological capabilities and competitive edge in the global market.
Alibaba commits $52 billion to AI and cloud computing.
www.multilink.biz
By
