Tracy Qu of The Wall Street Journal reports that Alibaba Group plans to invest over $52 billion in AI and cloud infrastructure over the next three years, exceeding its past decade’s spending. Qu writes:
Alibaba Group plans to invest more than $52 billion on AI and cloud infrastructure over the next three years, in a bid to seize more opportunities in the artificial-intelligence era.
The spending of at least 380 billion yuan, equivalent to $52.41 billion, will surpass the company’s AI and cloud computing investment over the past decade, Alibaba said in a post Monday on its news site.
Alibaba first mentioned the plan last week when the company reported its results but didn’t provide a specific figure. […]
Alibaba’s pledged AI and cloud investment exceeded the forecast of Citi analysts, who projected spending of 350 billion yuan from the current quarter through the end of fiscal 2028.“We believe Alibaba is well-positioned to capture the influx demand of cloud computing services in the coming years,” they said in a commentary.
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