Alibaba to invest more than $52 billion in AI over next 3 years

Alibaba said on Monday it plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years.

The Chinese ecommerce giant had said it had plans to invest in the sector while announcing its results on Friday, but did not provide an exact figure at the time.

The company had reported revenue of 280.15 billion yuan for the three months ended December 31, marginally ahead of analysts’ estimates.

Alibaba said the total investment amount exceeds the company’s spending in AI…