China's Alibaba to invest $50 bn in AI, cloud computing

Group 1 - Alibaba plans to invest over $50 billion (approximately 380 billion yuan) in artificial intelligence and cloud computing over the next three years, marking a significant commitment to technological innovation and AI-driven growth [3][4] - The investment will exceed Alibaba's total spending on AI and cloud computing over the past decade, indicating a strong focus on enhancing its infrastructure in these areas [4] - Alibaba reported an 8% increase in revenue for the three months ending in December, reaching 280 billion yuan, which exceeded estimates and led to a 14% surge in its Hong Kong shares [4] Group 2 - The Chinese technology sector, including Alibaba, has seen a resurgence in investor confidence following a prolonged regulatory crackdown that began in 2020 [5][6] - Recent positive developments in the industry, such as the launch of a new AI chatbot by a Chinese startup, have contributed to this revival [5] - The Chinese economy is facing challenges such as sluggish consumption and issues in the property sector, but government support for the private sector has been indicated by President Xi Jinping [7][8]