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.
Hundreds of people gathered for a second consecutive week at Tel Aviv’s Hostages Square, on Friday (12 December), to support the family of Master Sg...
Britain’s King Charles III said on Friday, 12 December, that his cancer treatment is expected to be reduced in the coming year, using a televised ad...
Talks aimed at ending the war between Ukraine and Russia are set to continue in Berlin this weekend, with U.S. envoy Steve Witkoff due to meet Ukraini...
Türkiye’s Trade Minister Omer Bolat said Friday that discussions in Washington with U.S. officials have strengthened efforts to expand bilateral tr...
Lebanon is prepared to demarcate its border with Syria, President Joseph Aoun said on Friday, while noting that the dispute over the Shebaa Farms coul...
Alibaba (9988.HK) announced on Wednesday a wide-ranging push into artificial intelligence (AI), unveiling a partnership with Nvidia, a global data centre expansion plan, and new AI products, as it seeks to make artificial intelligence a core business priority alongside its e-commerce operations.
The weirdest and ugliest products sold online in China can now be seen in a new exhibition in Hangzhou.
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.
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
The resignation of Bulgaria's government on Thursday (11 December) puts an end to an increasingly unpopular coalition but is likely to usher in a period of prolonged political instability on the eve of the Black Sea nation's entry into the euro zone.
An extratropical cyclone has caused widespread disruption across Brazil’s São Paulo state, with powerful winds toppling trees and power lines, blocking streets and leaving large parts of the region without electricity.
Time Magazine has chosen the creators behind artificial intelligence as its 2025 Person of the Year, highlighting the technology’s sweeping impact on global business, politics and daily life.
Children are forming new patterns of trust and attachment with artificial intelligence (AI) companions, entering a world where digital partners shape their play, their confidence and the conversations they no longer share with adults.
The International Robot Exhibition (IREX) opened in Tokyo on 3 December, bringing together visitors to explore robotics applications for industry, healthcare, logistics, and everyday life.
A bipartisan group of U.S. senators, including prominent Republican China hawk Tom Cotton, introduced the SAFE CHIPS Act on Thursday, aiming to prevent the Trump administration from easing restrictions on China’s access to advanced artificial intelligence (AI) chips for a period of 2.5 years.
A former Apple engineer has unveiled a new Chinese chip designed to compete directly with Apple’s Vision Pro headset.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment