Alibaba has increased the figure for what it plans to spend AI in the next three years, despite reporting an operating loss – with execs promising investments are “beginning to pay off”.
The Chinese tech giant said it will likely “overshoot” its February 2025 commitment to spend CN¥380 billion ($53 billion at the time) in AI and cloud infrastructure over three years.
"We need 10x the amount of data center infrastructure compared to what we had in 2022," Wu told investors discussing the increase in spending in a Q4 earnings call Wednesday.
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