Alibaba plans 49 billion euros for AI and Cloud - share price fluctuates

Alibaba plans 49 billion euros for AI and Cloud - share price fluctuates

The Chinese technology giant Alibaba announced that they want to make massive investments of at least 380 billion yuan (around 49.8 billion euros) in artificial intelligence (AI) and cloud computing in the coming years. This initiative is to be implemented over a period of three years in order to drastically improve your own infrastructure in these future -oriented areas. Details on the exact distribution of the means or specific projects have not yet been communicated, as krone.at reported.

This large investment project takes place in the context of a recently reported sales and profit rise of the company, which among other things operates China's largest online trade platform Taobao. The increase in the Alibaba share price, which has climbed to a three-year high since the beginning of the year, is also remarkable. Nevertheless, the share in Hong Kong temporarily fell by 2.24 percent to $ 135.40, which raises questions about market development, such as Finanzen.ch note.

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