Alibaba announced plans to invest over $53 billion in artificial intelligence in the next three years. The e-commerce giant revealed its intention to spend more than 380 billion yuan (equivalent to $53 billion) on AI in the upcoming three-year period. Reports indicate that the company plans to allocate more funding than it has in the last decade towards AI and cloud computing infrastructure. In a statement from Alibaba’s official blog, they stated their ambition to become a significant partner for companies developing and implementing AI technology. By 2024, the company had already raised its spending from 24 billion yuan to 72.5 billion yuan (approximately $10 billion). This increase was notably attributed to investments in AI language model training, processors, and infrastructure. Despite being a significant move for China, Alibaba’s initiative still lags behind its American competitors, with Microsoft targeting an $80 billion investiture and Meta aiming for $65 billion in AI investments.