Alibaba's A big bet on artificial intelligence (AI) has reportedly been made possible to make it one of the world's largest companies.
That is according to a Report CNBC's chart of shifts for Chinese technology giants on Saturday (September 20) e-commerce To ai.
in Alibaba has it for the past three years Participation AI Model Startups In more than $3.3 billion in transactions, including investments in Moonshot and Minimax In Robotics Startup Limx Dynamics, Report I said, Quote Data from Pitchbook.
Meanwhile, the company is planning to spend $53.42 billion on AI. Cloud Infrastructure The next three years. Over the past year, over $14 billion has been invested in AI infrastructure and research. Way SunPrincipal Analyst Counterpoint ResearchI said CNBC.
“Alibaba has established itself as China's most offensive AI investor,” San said. “This level of spending is unprecedented among private Chinese companies, competing for the trajectory of US high-tech titan maintenance.”
Alibaba can join small groups of American companies Look at that Market capitalization arrival From the current level below $400 billion, $1 trillion, Matthew PetersonManaging Partner Peterson Capital Managementtold CNBC.
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The company announced last month that its AI products helped drive double-digit revenue growth, saying Alibaba is “embarking on a new chapter in entrepreneurship by investing in two strategic pillars: consumption and AI+cloud.”
Company's Cloud Division We saw revenue growth of 26% compared to the previous yearpartly due to increased adoption of AI-related products by customers.
“During the quarter, AI-related revenues accounted for more than 20% of revenue from external customers as demand for AI continued to grow rapidly,” Alibaba Group CEO Eddie Wu said on Friday during the company's quarterly revenue call. “AI applications are also driving the huge growth momentum of traditional products, such as computing and storage.”
Other AI news features Pymnts I wrote it last week About technology increase I'll use it in B2B Applicationonboarding, etc.
“What companies are starting to see is, hey Actual application Where AI can help Ryan FlareExecutive Vice President and General Manager B2B. flywiresaid in a recent interview with Pymnts.
Meanwhile, Pymnts Intelligence Report “Smart Expense: How AI is Transforming Financial Decision Making” Are 8 or more of the 10 CFOs of large companies already using AI? I'm thinking about adopting that.
