Bengaluru/Beijing, February 24, 2025 – Chinese e-commerce giant Alibaba (9988.HK) announced on Monday plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence (AI) infrastructure over the next three years.
This bold move exceeds the company’s total spending in AI and cloud computing over the past decade and underscores its ambition to lead China’s fast-evolving technology landscape.
During its latest quarterly earnings announcement, Alibaba reported revenue of 280.15 billion yuan for the three months ended December 31—slightly ahead of analysts' estimates. The massive investment is part of Alibaba’s broader strategy to capitalize on growing opportunities in AI and cloud services, as it seeks to maintain a competitive edge amid increasing market pressures.
Investors have responded positively to the news, with Alibaba’s stock rising more than 68% this year as the company positions itself as a frontrunner in China’s AI race. Strategic business deals and technological advancements are expected to further bolster the company’s market leadership.
Alibaba’s investment comes at a time when other Chinese tech giants are also ramping up their spending on AI. For instance, ByteDance—the parent company of TikTok—has earmarked over 150 billion yuan in capital expenditure for this year, much of which will be directed towards AI innovation.
As Alibaba prepares to deploy its substantial new funding, industry watchers will be keen to see how this infusion of capital transforms its cloud computing capabilities and drives further breakthroughs in AI technology.
The model aims to enhance Alibaba’s presence in the generative AI sector and is available as open-source.
OpenAI on Tuesday introduced a suite of new developer tools designed to streamline the creation of advanced AI agents, signaling a strategic move amid intensifying competition from Chinese AI startups.
Alibaba Group’s shares climbed by more than 8% on Thursday following the release of its latest artificial intelligence reasoning model, QwQ-32B.
Alibaba is now offering free, open-source access to its latest generative AI models capable of producing highly realistic videos and images from text and image inputs. The move, which sees the company releasing four variants of its Wan 2.1 series, is expected to boost innovation among researchers, a
Alibaba announced on Tuesday that it will release an open-source version of its video and image-generating AI model, Wan 2.1, as part of its ongoing efforts to foster innovation and collaboration within the AI community.
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U.S. Vice President JD Vance criticized Denmark’s handling of Greenland’s security during a visit to the U.S. base at Pituffik.
U.S. Vice President JD Vance visited Greenland’s Pituffik military base amid renewed calls from President Trump for U.S. control of the island. The trip sparked protests, with Greenland’s leader calling it a "lack of respect." Trump insists Greenland is vital for U.S. security and global stability.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
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The Trump administration is importing eggs from Türkiye and South Korea to address shortages and record-high prices caused by a severe bird flu outbreak.
The model aims to enhance Alibaba’s presence in the generative AI sector and is available as open-source.
OpenAI has asked the US government to permit AI companies to use copyrighted material for training to maintain America's leadership in AI development, as part of a proposal aligned with President Trump's upcoming "AI Action Plan."
Kim Jong Un watched tests of new AI drones and wants to increase the production
South Korean chipmaker SK Hynix said Thursday that some customers have accelerated orders in anticipation of potential U.S. tariffs on semiconductors, contributing to improved market conditions. However, the company cautioned that it remains unclear whether this trend will persist.
Despite its dominance in industrial robotics, China faces challenges in the race for humanoid robots due to its reliance on foreign technology and U.S. trade restrictions.
Protesters and police clashed in Nepal leaving two dead and 17 injured as demonstrators rallied to demand the return of the constitutional monarchy.
U.S. Vice President JD Vance criticized Denmark’s handling of Greenland’s security during a visit to the U.S. base at Pituffik.
U.S. Vice President JD Vance visited Greenland’s Pituffik military base amid renewed calls from President Trump for U.S. control of the island. The trip sparked protests, with Greenland’s leader calling it a "lack of respect." Trump insists Greenland is vital for U.S. security and global stability.
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