Alibaba plans to invest more than 380 billion yuan in building cloud and AI hardware infrastructure over the next three years

On February 24, Alibaba Group CEO Wu Yongming announced that in the next three years, Alibaba will invest more than 380 billion yuan in building cloud and AI hardware infrastructure, which is more than the total amount of the past decade. Wu Yongming said that the development speed of AI has exceeded everyone's expectations, and the domestic technology industry is in a stage of vigorous development with huge development potential. Alibaba will go all out to accelerate the construction of cloud and AI hardware infrastructure to promote the development of the entire industry ecosystem.