Alibaba will invest $53 billion in artificial intelligence and cloud technologies

The Chinese technology giant Alibaba Group has announced that it will invest $53 billion in the development of artificial intelligence and cloud technologies. This funding will be allocated over the next three years, which is more than the company's total investment over the past decade.

Alibaba CEO Eddie Wu described artificial intelligence as "an opportunity given once in a generation," and the company's future strategy is focused on creating AGI (general artificial intelligence).

Cloud technologies remain a key source of revenue for Alibaba's AI division. Demand for cloud services is growing rapidly, resulting in an 11% increase in revenue for the Cloud Intelligence Group compared to last year, while artificial intelligence products are showing triple-digit growth for the sixth consecutive quarter.

Alibaba plans to integrate AI into its entire ecosystem, aiming to expand its use in e-commerce, corporate services, and consumer applications. The company announced a shift to an "AI-driven user" model to enhance user experience and optimize business processes.

Recently, Alibaba presented a new version of the Qwen 2.5 language model, which, according to the South China Morning Post, is leading in China and ranks third globally after OpenAI and Anthropic.