PYMNTS.com February 24, 2025
Last week, Chinese tech conglomerate Alibaba announced a major uptick in AI spending.
Now, the company has put a price tag on the effort, according to a Monday (Feb. 24) report by Reuters: at least 380 billion yuan, or $52.44 billion, over a three-year period.
During an earnings call last week, the company said it would spend more on artificial intelligence (AI) in the next three years than it has in the last 10, without providing an exact figure. The goal, management said, is to help Alibaba pursue artificial general intelligence (AGI), or a version of AI that can think and reason at or above the level of humans.
“We aim to continue to develop models that extend the boundaries...
Today's Sponsors
Today's Sponsor