Chinese company Alibaba will invest 380 billion yuan (nearly 52 billion USD) over 3 years to create cloud platforms and infrastructure for artificial intelligence (AI).
“The explosive development of artificial intelligence has greatly exceeded everyone's expectations, China's technology industry is on the rise and has huge potential“, said Alibaba CEO Eddie Yongming Wu.
“Alibaba will make every effort to accelerate the construction of hardware base infrastructure for cloud services and artificial intelligence.“ The scale of investment planned for 3 years will exceed that of the past 10 years.
According to Eddie Yongming Wu, in the future, Alibaba will continue to focus on e-commerce at home and abroad, AI and cloud computing technologies, as well as its Internet platform products.
At the end of January, Alibaba Cloud (a subsidiary of Alibaba) introduced a new AI model, Qwen2.5-Max. It is said to be superior to the DeepSeek system.
The Chinese company DeepSeek on January 20 released a new version of a chatbot, which it claims is superior to the advanced version of ChatGPT from the American company OpenAI. At the same time, experts point out that the developers of the Chinese chatbot spent much less money than OpenAI.
On February 17, a symposium was held in Beijing, at which Chinese President Xi Jinping met with representatives of the country's business community. The Chinese leader noted that the difficulties of private business in China, which arose in the process of optimizing the structure of the national economy, are short-term and solvable. He emphasized the need, despite the difficulties and challenges, to see prospects and firmly follow the planned course of development.