High Ambitions for Alibaba’s App
CNBC news reports that Alibaba is planning on investing $380 billion yuan ($52.5 billion) in cloud computing and its AI infrastructure over the next three years.
Its launches have been arriving rapidly and the company is keen to emphasize that its products are as good – if not better – than rivals. It says in the blog post: “As of now, the number of derivative models of Qwen in domestic and overseas AI open source communities has exceeded 100,000, surpassing the American Llama series of models to become the world’s largest open source model group.”
Its AI ambitions are having a huge impact on the company’s bottom line. In February, CNBC reported on Alibaba’s quarterly results. The company’s Cloud Intelligence Group had seen year-on-year sales growth of 13% to 31.742 billion yuan (over $4 billion). “The AI era presents a clear and massive demand for infrastructure. We will aggressively invest in AI infrastructure,” said Alibaba CEO, Eddie Wu.
