Alibaba has said it will “aggressively” invest in artificial intelligence over the next three years as the Chinese ecommerce giant moves quickly to capitalise on the fast-developing technology.
Chief executive Eddie Wu said on Thursday in a call with analysts that the tech group would spend more on cloud and AI infrastructure in the next three years than it had spent over the past decade. He declined to provide details on how much it plans to invest.
Alibaba ploughed Rmb72.5bn ($10bn) in overall capital expenditure in 2024 alone, up from Rmb24bn ($3.3bn) the previous year, as it significantly increased spending on buying processors and infrastructure related to powering the training of large language models.
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