Like its U.S. counterparts, Alibaba is going all-in on generative AI. Its cloud computing business saw an 11 percent year-over-year increase in revenue in December 2024. AI-related product sales have experienced triple-digit growth for the sixth consecutive quarter, signaling strong enterprise demand for AI-powered solutions.

Chinese tech giant Alibaba said Monday it will spend more than $50 billion on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma was seen meeting President Xi Jinping.

Chinese tech giant unveils massive three-year investment in a move to capitalise on the AI opportunity and position its cloud infrastructure as the backbone for future growth