Alibaba Announces an Investment of Over 380 Billion Yuan in Building Cloud and AI Hardware Infrastructure

　　Xinhua News Agency, Hangzhou, February 24 -- The reporter learned from Alibaba Group on the 24th that in the next three years, Alibaba will invest more than 380 billion yuan in building cloud and AI hardware infrastructure, with the total amount exceeding the sum of the past decade. This will set one of the largest investment records in the history of China's private enterprises in the field of cloud and AI hardware infrastructure construction.

　　Wu Yongming, CEO of Alibaba Group, said, "The explosion of AI has far exceeded expectations. The domestic technology industry is in the ascendant and has huge potential. Alibaba will accelerate the construction of cloud and AI hardware infrastructure to boost the development of the entire industry ecosystem."

　　Alibaba Cloud is a cloud computing company under Alibaba Group, and Tongyi Qianwen is an open-source model released by Alibaba Cloud. Since August 2023, Alibaba Cloud's Tongyi Qianwen has successively open-sourced four generations of models, namely Qwen, Qwen1.5, Qwen2, and Qwen2.5, with more than 90,000 derivative models. Alibaba stated that the substantial investment of 380 billion yuan can greatly boost the confidence of related industries. At the same time, it also shows that Alibaba, as always, believes in the future and invests in the future.

　　According to the financial results for the third quarter of the fiscal year 2025 released by Alibaba on February 20, Alibaba Cloud achieved revenue of 31.742 billion yuan in this quarter, a year-on-year increase of 13%. The commercial revenue of Alibaba Cloud has returned to double-digit growth, and the revenue of AI-related products has maintained triple-digit growth for six consecutive quarters.