Alibaba has announced plans to invest 380 billion yuan (US$52.44 billion) in cloud computing and AI infrastructure over the next three years.

This announcement, made on Feb.24, indicates a significant commitment by the Chinese ecommerce giant in these sectors.

The company said that this investment surpasses its total spending in AI and cloud computing over the past decade.

Alibaba had previously suggested plans for investment in these areas but had not specified an amount until now.

Recent Alibaba developments