Alibaba (HKG:9988) is ramping up its focus on artificial intelligence and cloud computing with a planned investment of 380 billion yuan over the next three years.
This marked the online marketplace platform's largest spending in AI and cloud spending in the past decade, according to a Monday news release.
Chief Executive Eddie Wu said cloud computing remains a key revenue driver, with Alibaba Cloud revenue seeing 11% year-over-year growth, while AI-related revenue surging in the triple digits for the sixth consecutive quarter.
Alibaba expects AI to play an increasingly integral role across e-commerce, enterprise services and consumer applications.
Alibaba shares were down 5% in recent trade in Hong Kong.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。