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Alibaba plans to invest $53 billion (380 billion yuan) in the next three years for AI and cloud computing. It is a part of the company’s suite of strategic investments to strengthen its infrastructure and make itself the AI growth leader. Alibaba was rehabilitated back in the China tech hierarchy, just shortly after its co-founder Jack Ma met President Xi Jinping.
A commitment to AI and cloud computing aims at backing long-term innovation aims and leveraging Alibaba to be a key player in this dynamic AI field. Alibaba is trying to exceed its total AI and cloud investment over the last decade with this new initiative. While no specific projects are publicized, it is expected that the investment will encompass AI models and data centers, vital to the training and deployment of AI technologies.
Alibaba revealed the good news amidst strong Q4 financial performance 8% revenue and a bump in valuation in Hong Kong stocks. Alibaba moving to AI said to be a move in response to the recovery from China tech sector dip after government crackdown that started in 2020. Both Microsoft and Meta as big global tech companies are also investing in massive AI infrastructure and Alibaba has been migrating its focus toward AI as well.
Alibaba’s growing consensus on AI matched the broader trends in the industry, as tech companies raced to take up leadership roles in AI development. Recent AI projects, like the Qwen model, showcase the growing competence of the company in that field.
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