Alibaba shares rise over 6% after CEO unveils new AI products and spending plans
AlibabaIn the Hong Kong list, the company said that it will invest more in artificial intelligence and offer new AI products and updates, and rose on Wednesday to reach the highest point since 2021.
While the company’s shares increased more than 6%, their total gains have increased more than 107%to date.
The technology giant plans to increase AI models and infrastructure development expenditures over 380 billion Yuan ($ 53 billion) for three years. Announced in FebruaryEddie Wu, Chairman of the Executive Officer, said on Wednesday at Alibaba Cloud’s annual flagship technology conference.
“We are moving forward 380 billion for three years [yuan] AI infrastructure initiative with its plans to maintain and increase our investment according to our strategic vision. [artificial superintelligence] Era, Wu said.
Alibaba shares the fluctuation after explaining CEO’s plans to increase AI expenditures
The so -called ‘Artificial Superintelligigence’, AI is a growing focus of great AI companies that will overcome the power and intelligence of the human brain.
Alibaba also introduced a number of other updates of Qwen Big Language Models-Qwen3-Max on Wednesday and AI product offers package.
Wu stressed that Alibaba Cloud is strategically positioned as a “full heap AI Service Provider”, and through its own data centers, it offers the need for information processing power to train and distribute large AI models in the cloud.
“Cumulative investment in the Global AI in the next five years will exceed $ 4 trillion, and the biggest investment in the calculation of power and research and development on this date.”
