Alibaba Group Holding Ltd.’s U.S.-listed stock fell nearly 7% on Monday after the online retailer said it plans to spend about $53 billion over the next three years on its cloud computing and Artificial Intelligence infrastructure.

Alibaba Cloud, the cloud computing arm of Alibaba Group, has inaugurated its second data center in Thailand, expanding its infrastructure to meet the rising demand for cloud services and generative artificial intelligence (AI).

Chinese e-commerce firm Alibaba Group Holding posted its fastest revenue growth in over a year, beating analyst expectations as it capitalizes on the artificial intelligence boom in China

Alibaba Group has announced a massive investment of 380 billion yuan ($52.44 billion) into generative AI and cloud computing infrastructure over the next three years. This sum surpasses Alibaba’s entire cloud and AI budget from the last decade.

Alibaba Cloud invests $53 billion in artificial intelligence to drive AI infrastructure, cloud computing and LLMs as Alibaba Group ADR stock increases.

Alibaba Group Holding Ltd. (NYSE: BABA) has announced an investment of 380 billion yuan ($53 billion) for its cloud computing and AI infrastructure, making it the largest private computing project to date.

Chinese e-commerce firm Alibaba Group Holding posted its fastest revenue growth in over a year, beating analyst expectations as it capitalizes on the artificial intelligence boom in China.

Billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly $1 billion in recent months, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

KEY TAKEAWAYS Shares of Alibaba Group listed in the U.S. are jumping in premarket trading Thursday after the Chinese tech and e-commerce giant reported quarterly results that beat estimates.The company said revenue in its December quarter rose 7.

High interest rates and persistent inflation have hampered U.S. consumer spending for two years, leading to sluggish demand for non-essential items such as collectibles and luxury accessories. The e-commerce company has been pressurized by decreasing advertising revenue and faces intense competition from Amazon and China's Alibaba Group,

KEY TAKEAWAYS U.S.-listed shares of Alibaba Group are falling 3% in premarket trading Monday after the Chinese tech giant announced plans to invest more than $52 billion in artificial intelligence and cloud infrastructure over the next three years.

Alibaba Group posted an 8% year-on-year increase in revenue for the December quarter of 2024 on Thursday, with its total revenue during the period