Alibaba to aggressively increase investment in AI

As advancements in AI technology drive profound industrial transformation, Chinese tech giant Alibaba Group Holding Ltd said it will scale up investments in artificial intelligence over the next three years, including infrastructure for AI and cloud computing, and AI foundation models and native applications, while also transforming its existing businesses with AI.

As there is clear and massive demand for infrastructure in this AI era, the company is going to aggressively invest in AI infrastructure, Wu Yongming, CEO of Alibaba Group, said in an earnings call with investors late on Thursday. "Our planned investment in cloud and AI infrastructure over the next three years is set to exceed what we have spent over the past decade."

Wu noted that the company will increase investment in the research and development of AI applications and computing power, and deeply integrate AI across its businesses to capture new growth opportunities in the AI era. "Looking ahead, we are confident in our focused strategy on e-commerce and AI plus cloud," he said.