Alibaba announced plans to invest billions in AI infrastructure. Founder Jack Ma recently met with Chinese President Xi Jinping. Since the meeting, Alibaba's stock has

Alibaba has branched out from its original B2B e-commerce roots, developing thriving logistics arms and financial spin-offs such as Ant Group. Its cloud division, Alibaba Cloud, already hosts significant R&D operations worldwide and recently launched its own AI offering, QWen, available to iPhone users in China via a dedicated app.

According to Chinese economic media sources like Chailianshe on the 24th, Daniel Zhang, chief executive officer (CEO) of Alibaba Group, revealed this plan. This not only exceeds the total amount Alibaba has invested in the sector over the past decade but also marks the largest AI investment among private corporations in China.