Tech Desk 
Feb 24, 2025
Given the constant flair in the ever-intensifying race of artificial intelligence (AI) among tech giants, Alibaba, a newcomer in this realm and formidable e-commerce juggernaut is planning to step up its game soon.
The retailing giant on Monday disclosed its plans to inject at least 380 billion yuan ($52.44 billion) investment into its cloud computing and AI infrastructure over the next three years.
On the sidelines of revealing hefty spending on AI initiatives, the company earlier claimed to announce its earnings on Friday last week, however, it did not disclose an exact figure at the time, Reuters reported.
Alibaba reported revenue of 280.15 billion yuan for the three months ended December 31, 2024, slightly less than analysts' estimates. The retail tycoon's total investments over the past decade were more than its spending in AI and cloud computing.
Starting 2025 on a positive note by striking strategic business deals with prominent investors, Alibaba has emerged as a formidable contender in China's competitive AI landscape with a strong presence in the world's AI stock market.
Shortly following the announcement of investments in AI projects, the company's stocks registered a sudden surge, rising over 68% since the outset of this year.
