Chinese tech giant Alibaba has announced a massive $50 billion investment in artificial intelligence (AI) and cloud computing over the next three years, signaling its most significant push into cutting-edge technology to date.
The company confirmed on Monday that it plans to allocate at least 380 billion yuan ($53 billion) to advance its cloud computing and AI infrastructure, marking a record-breaking investment in the sector.
The announcement comes just a week after Alibaba’s co-founder Jack Ma was seen meeting with President Xi Jinping, his most high-profile appearance in years. The company emphasised that the investment underscores its commitment to long-term technological innovation and AI-driven growth.
The statement did not specify how the funds would be distributed or which projects would be prioritised, but it did highlight that the new investment would exceed Alibaba’s total AI and cloud spending over the past decade.
Alibaba’s stock has surged to three-year highs, driven by a tech stock rally in China and strong earnings growth reported last week. Investors have shown renewed confidence in the Hangzhou-based company, particularly following Ma’s re-emergence on the political and business scene.
The firm operates some of China’s largest e-commerce platforms and has been expanding aggressively in cloud computing, a sector that has become highly competitive amid a global push for AI development.
The investment reflects a broader trend in China, where AI and cloud computing are seen as key drivers of future economic and technological leadership. Chinese tech giants, including Alibaba, Tencent, and Baidu, have been ramping up AI research and cloud services to compete with US firms like Google, Microsoft, and Amazon.
With Beijing prioritising AI as a national strategic priority, Alibaba’s ambitious spending plan is expected to play a crucial role in shaping China’s next-generation digital economy.
