The Chinese technology giant first mentioned the plan last week when it reported results but didn’t provide a specific figure.

Alibaba Group Holding Ltd has announced a massive investment of $53 billion in artificial intelligence (AI) infrastructure, including data centers, in the next three years. The move highlights the e-commerce giant's ambition to become a global leader in AI technology.

Chinese tech company Alibaba (NYSE:BABA) on Monday unveiled plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years.

Alibaba said on Monday it plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years. The Chinese e-commerce giant had said it had plans to invest in the sector while announcing its results on Friday,

Chinese tech giant Alibaba said Monday it will spend more than $50 billion on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma