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.
Jordan is to host a meeting with U.S. and Syrian officials on Tuesday to discuss supporting the rebuilding of Syria after more than a decade of confli...
...
Three people were killed in Ukrainian drone attacks overnight in Russia’s Tula and Nizhny Novgorod regions, with several others injured, as Moscow's...
South Korea and Vietnam are set to deepen their economic and strategic partnership as their leaders meet to strengthen ties during growing global trad...
New Zealand is weighing the formal recognition of a Palestinian state, Foreign Minister Winston Peters said on Monday, confirming that Prime Minister ...
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
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
Scientists have discovered previously unknown communities of deep-sea creatures that survive by converting chemicals into energy, rather than feeding on organic matter, during dives into two of the Pacific Ocean’s deepest trenches.
The acting chief of the U.S. space agency NASA is expected to unveil a directive this week to build a nuclear reactor on the moon by 2030, according to U.S. media reports, as the United States seeks to strengthen its space presence amid growing competition from China and Russia.
Scientists in Norway have uncovered remains of more than 40 species from around 75,000 years ago, shedding new light on Ice Age life in Scandinavia.
Türkiye’s first domestically produced electric SUV, the Togg T10X, is expected to hit the German market by the end of 2025, German daily Bild reported.
A SpaceX Falcon 9 rocket successfully launched from NASA’s Kennedy Space Center in Florida on Friday, sending an international crew of four astronauts to the International Space Station (ISS) aboard the Dragon spacecraft as part of NASA’s Crew-11 mission.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment