From Financial Modeling Prep: 2025-02-24 04:50:59

Alibaba Group (NYSE:BABA) plans to invest 380 billion yuan ($52.4 billion) in cloud computing and AI infrastructure over three years, its largest tech investment. Stock rose 0.7% to HK$139.40. Revenue hit 280.15 billion yuan, up 7.6% YoY. Alibaba Cloud grew 11%, AI products tripled in growth. CEO Eddie Wu sees AI as a major opportunity, focusing on AGI.

CEO Eddie Wu highlights cloud services as Alibaba’s main AI revenue source due to increased demand for AI hosting solutions.

For Alibaba’s latest financial data, visit Balance Sheet API to analyze its financial position.



Read more at Financial Modeling Prep:: Alibaba Invests $52.4 Billion to Expand AI and Clo…