(Hangzhou, 24th) China Securities Times According to the news announced today by Alibaba Group CEO Wu Yongming, Alibaba will invest more than 380 billion yuan (RM231.1 billion) in the construction of cloud and AI hardware infrastructure in the next three years, exceeding the total of the past decade.

This also set a record for the largest investment in cloud and AI hardware infrastructure construction by Chinese private enterprises.

Wu Yongming said that the outbreak of AI far exceeded expectations, and the domestic technology industry is in the ascendant with huge potential. Alibaba will spare no effort to accelerate the construction of cloud and AI hardware infrastructure to promote the development of the entire industry ecosystem.