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China's Alibaba to invest US$50 billion in AI, cloud computing

Alibaba plans to invest at least 380 billion yuan over the next three years to advance its cloud computing and AI infrastructure, according to a company statement.
Alibaba reported an 8 percent increase in revenue for the three months through December, beating estimates and reaching 280 billion yuan, leading to a 14 percent surge in its Hong Kong shares.
Investors have shown strong interest in Chinese technology stocks, with Alibaba's shares reaching three-year highs due to robust sales growth and positive market sentiment.
CEO Eddie Wu stated that the quarterly results demonstrated substantial progress in Alibaba's 'user-first, AI-driven' strategies and the re-acceleration of core business growth.

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South China Morning Post

Alibaba’s US$52 billion capex seen as catalyst for China’s Big Tech in AI race

Global tech giants are eyeing the first-mover advantages in the initial stage of artificial intelligence development, Everbright Securities says.

3 days ago·Hong Kong

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Japan Today

China's Alibaba to invest $50 bil in AI, cloud computing

Chinese tech giant Alibaba said Monday it will spend more than $50 billion on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma was seen meeting President Xi Jinping. Investors have piled into Chinese technology stocks since the start of the year, with…

4 days ago·Sakado, Japan

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Inquirer

China's Alibaba to invest $50 billion in AI, cloud computing

Beijing, China — Chinese tech giant Alibaba said Monday it will spend more than $50 billion on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma was seen meeting President Xi Jinping. Investors have piled into Chinese technology stocks since the start of the year, with Alibaba —

4 days ago·Manila, Philippines

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EURACTIV

Chinese Alibaba to invest €50 billion in cloud and AI

Alibaba CEO Eddie Wu said the company would "aggressively invest" in AI infrastructure, but did not disclose numbers.

4 days ago·Brussels, Belgium

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The Standard

Alibaba to invest 380b yuan in Cloud, AI

Agencies and staff reporter Alibaba (9988) said yesterday it plans to invest at least 380 billion yuan (HK$407.13 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...

4 days ago

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Startups News | Tech News

Alibaba to invest $52 billion in AI after Qwen 2.5 model’s breakthrough success - Tech Startups

Alibaba is making a massive bet on artificial intelligence. The Chinese tech giant announced on Monday that it plans to invest over $52 billion in AI and cloud computing over the next three years. The move follows the success of […] The post Alibaba to invest $52 billion in AI after Qwen 2.5 model’s breakthrough success first appeared on Tech Startups.

5 days ago

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