Alibaba has announced an investment plan in cloud and infrastructure for AI with a minimum budget of 3.8 trillion yuan (1.75 trillion USD or 53 billion dollars) over the next 3 years to promote long-term technological innovation.
The investment amount surpasses what Alibaba has invested in cloud and AI over the past decade, reflecting the company’s seriousness and dedication to becoming a leading global cloud service provider.
Eddie Wu, CEO of Alibaba Group, stated in the recent quarterly earnings call that AI presents a unique opportunity in this era as it can replace human work, transform industries, and have multi-dimensional impacts on the economy.
Alibaba emphasizes that their future plans focus on user-centric AI that drives various aspects behind the scenes.
Source: Alibaba
TLDR: Alibaba announces a massive investment plan in cloud and AI infrastructure to drive technological innovation, emphasizing the transformative power of AI and its impact across different sectors of the economy.
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