Alibaba to invest more than $52 billion in AI and cloud technology over the next 3 years
Chinese company Alibaba announced on February 24 that it plans to invest at least 380 billion yuan ($52.44 billion) in the development of cloud computing and artificial intelligence over the next three years. About this informs Reuters.
In the three months, the company had revenue of 280.15 billion yuan, which slightly exceeded analysts’ forecasts. Alibaba said the planned investment exceeds the company’s total spending on artificial intelligence and cloud technology over the past decade.
Alibaba started 2025 as the leader of China’s artificial intelligence race, attracting investors with strategic deals. As of the last closing of shares, their value has increased by more than 68% since the beginning of the year. Joe Tsai, the co-founder of Alibaba, said that their AI technology will be integrated into the iPhone for the Chinese market, which will help strengthen the company’s image.
Other large Chinese companies are also actively investing in this direction. Notably, ByteDance, the owner of TikTok, has earmarked more than 150 billion yuan for capital spending in 2024, much of which will be focused on artificial intelligence.
