China's Alibaba Group Holdings has revealed that 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.
Alibaba Group, the Chinese e-commerce giant, managed to achieve its fastest quarterly growth rate in its revenue in more than a year, supported by a growing cloud computing business and artificial intelligence investments.
Alibaba's revenue for the quarter ended Dec. 31, 2024 grew 8 percent to 2,028.15 billion yuan ($39 billion) from the same period in 2023, beating market expectations.
Source (Al-Arabiya.net, Edited)
