AlibabaHong Kong’s listed stocks surged on Wednesday, reaching its highest point since 2021 after the company said it would invest more in artificial intelligence and roll out new AI products and updates.
The company’s shares exceeded 6%, but the annual total profit exceeded 107%.
The tech giant plans to increase spending on AI models and infrastructure development. This was announced in February, in addition to 380 billion yuan ($53 billion) over the three-year period, announced in February, as well as Alibaba Cloud’s annual flagship technology conference.
“We are thrilling our three-year, 38 billion (Yuan) AI infrastructure initiative, which has posted plans to maintain and increase investments according to our strategic vision, in anticipation of (artificially close) times,” Wu said.
Alibaba shares Surge after CEO announces plans to promote AI spending
The so-called “artificial tension” refers to AI that hypothetically surpasses the power and intelligence of the human brain, and hypothetical benchmarks will expand the focus of major AI companies.
Alibaba also officially announced the latest version of QWEN3-MAX, the leading QWEN language model, on Wednesday.
Wu emphasized that Alibaba Cloud is strategically positioned as a “full stack AI service provider,” providing the computing power needed to train and deploy large-scale AI models on the cloud via its own data center.
“The cumulative investment in global AI over the next five years is over $4 trillion, which is the biggest investment in computing power and research and development in history,” he added.
