Alibaba Group (9988.HK) has unveiled plans to invest 380 billion yuan ($52.44 billion) over the next three years to expand its artificial intelligence and cloud computing infrastructure. The announcement solidifies Alibaba’s position as a leader in China’s AI race, following a record-breaking stock surge of over 68% this year.
The Chinese e-commerce giant had previously hinted at its AI and cloud investment strategy while reporting its latest earnings but disclosed the exact figure on Monday. The company recorded revenue of 280.15 billion yuan for the quarter ending December 31, slightly surpassing analysts’ expectations. This new commitment exceeds Alibaba’s total AI and cloud expenditure over the past decade, underscoring its aggressive push into the sector.
“As AI reshapes industries, we are committed to building the next-generation computing infrastructure to support enterprise innovation and growth,” said an Alibaba spokesperson. The company’s bold strategy has attracted investor confidence, further strengthening its influence in the evolving AI landscape.
Alibaba’s move aligns with broader industry trends, as major Chinese firms continue ramping up AI investments. ByteDance, the parent company of TikTok, is reportedly planning over 150 billion yuan in capital expenditures this year, focusing primarily on AI expansion.
