Within three years
Alibaba plans to invest 50 billion euros in AI
The Chinese technology group Alibaba plans to invest at least 380 billion yuan (around 49.8 billion euros) in artificial intelligence and cloud computing in the coming years. The company did not initially disclose details on the distribution of funds or specific projects.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen As Alibaba announced on Monday, the group intends to invest the money over a period of three years to "advance its cloud computing and AI infrastructure".
The Hangzhou-based company in eastern China, which operates China's largest online trading platform Taobao among other things, reported a sharp rise in sales and profits last week. Alibaba's share price has risen to a three-year high since the beginning of the year.
A meeting between President Xi Jinping and several heads of large Chinese private companies last Monday, including Alibaba founder Jack Ma, who fell out of favor years ago, also caused a stir.
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