Alibaba’s Massive $52B+ Bet on AI and Cloud Infrastructure
Like its U.S. counterparts, Alibaba is going all-in on generative AI. Its cloud computing business saw an 11 percent year-over-year increase in revenue in December 2024. AI-related product sales have experienced triple-digit growth for the sixth consecutive quarter, signaling strong enterprise demand for AI-powered solutions.
The spending over the next three years is more than half the US$100 billion the US plans for its Stargate project.
As per Chinese state media, Chinese tech giant Alibaba revealed on Monday its intention to devote more than USD52.4 billion ...
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