Alibaba has announced a ¥380 billion investment over the next three years to build cloud and AI hardware infrastructure, the largest-ever by a Chinese private company. CEO Daniel Wu emphasized AI’s rapid growth and Alibaba’s commitment to accelerating industry development. This investment strengthens Alibaba Cloud’s leadership in Asia and boosts confidence in the tech ecosystem.
BRICS bridge-On the 24th, Daniel Wu, CEO of Alibaba Group, announced that over the next three years, Alibaba will invest more than 380 billion yuan in building cloud and AI hardware infrastructure, a total exceeding the sum of the past decade. This also sets a record for the largest-ever investment by a Chinese private enterprise in the field of cloud and AI hardware infrastructure.
Daniel Wu said, “The explosion of AI has far exceeded expectations, and the domestic technology industry is booming with huge potential. Alibaba will spare no effort in accelerating the construction of cloud and AI hardware infrastructure to boost the development of the entire industry ecosystem.”
Currently, Alibaba Cloud is a leading cloud computing company in Asia, and Alibaba’s Tongyi Qianwen large model has become a globally renowned open-source model. Daniel Wu said that the continued investment of the 380 billion yuan will greatly boost the confidence of related industries and also shows that Alibaba remains as committed as ever to believing in and investing in the future.