Alibaba's CEO announces an investment of over 380 billion yuan for the construction of cloud and AI hardware infrastructure

According to media reports, Alibaba's CEO Wu Yongming recently stated that Alibaba will invest more than 380 billion yuan in the next three years for the construction of cloud and AI hardware infrastructure, an amount exceeding the total sum of the past 10 years (about 300 billion yuan).

"Overall, the next three years will be the largest and most concentrated phase of cloud construction in Alibaba Group's history. Therefore, this concentrated construction period's capital expenditure will have some impact on aspects such as hardware amortization. However, given current strong user demand and predictions for future industry trends, we believe these investments in infrastructure will quickly be absorbed by both internal and external customer needs."