Alibaba to invest $52 billion in AI and cloud

Alibaba to invest $53 billion in AI and cloud infra
The group said its Alibaba Cloud unit has recorded triple-digit AI-related product revenue growth for six consecutive quarters.
Alibaba to invest $52 billion in AI and cloud over three years
The investment signals Alibaba’s ambition to compete with AWS, Microsoft Azure, and Google Cloud as it expands beyond its core e-commerce business.
Alibaba’s stock falls on expensive AI-investment pledge
Alibaba Group Holding Ltd.’s U.S.-listed stock fell more than 10% on Monday after the online retailer said it plans to spend about $53 billion over the next three years on its cloud computing and artificial-intelligence infrastructure.
Alibaba to invest more than $52 billion in AI over next 3 years
Alibaba said on Monday it plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years. The Chinese e-commerce giant had said it had plans to invest in the sector while announcing its results on Friday,
Jack Ma-owned Chinese Alibaba pledges to invest more than USD 52 billion in AI over next three years
Alibaba Group Holding Ltd., co-founded by Chinese entrepreneur Jack Ma, on Monday pledged to invest US$52.4 billion in its cloud computing and artificial intelligence (AI) infrastructure over the next three years.
Chinese tech giant Alibaba announces enormous investment in AI
Chinese tech giant Alibaba announced on Monday that it will invest $50 billion into artificial intelligence and cloud technology over the next three years.
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