(Reuters)-Alibaba announced on Monday it plans to invest at least 380 billion yuns ($ 52.44 billion) in cloud computing infrastructure and artificial intelligence over the next three years.
Chinese e-commerce giant had said she had plans to invest in the sector by announcing her results on Friday, but did not provide exact value at the time, when she released revenue of 280.15 billion yuns for the three months closed in 31 December, slightly above analysts estimates.
Alibaba said the total amount of investment exceeds the company’s disbursements in AI and cloud computing in the last decade.
The company started 2025 as a winner in the AI race in China, attracting investors with strategic business agreements. Alibaba shares rose more than 68% this year.
