According to Xinhua News Agency, Alibaba Group CEO Eddie Wu announced on Feb. 24 that the company will invest over RMB 380 billion in cloud and AI hardware infrastructure over the next three years, surpassing the total investment made in the past decade. This investment sets a record for the largest scale of investment by a private enterprise in China in the cloud and AI hardware infrastructure field.
Wu stated that the explosion of AI has exceeded expectations, and the domestic tech industry is flourishing with immense potential. Alibaba will spare no effort to accelerate the construction of cloud and AI hardware infrastructure, driving the development of the entire industry ecosystem.
Alibaba Cloud is a leading cloud computing company in Asia, and Alibaba's Tongyi Qianwen large model has become a globally recognized open-source model. Wu emphasized that this substantial investment will greatly boost confidence in related industries and reaffirm Alibaba's unwavering belief in and commitment to investing in the future.
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