Alibaba CEO Wu Yongming announced that over 380 billion yuan will be invested in the next three years to build cloud and AI hardware infrastructure

According to ChainCatcher news and Global Times, Alibaba CEO Wu Yongming recently stated that Alibaba will invest over 380 billion yuan in the next three years to build cloud and AI hardware infrastructure, which exceeds the total amount of the past 10 years (approximately 300 billion yuan). "Overall, the next three years will be the largest and most concentrated cloud construction period in Alibaba Group's history. Therefore, the capital expenditure during this concentrated construction period will have a certain impact on hardware amortization and other aspects. However, given the current strong user demand and the forecast for the industry's future, the group believes that the infrastructure investments will soon be absorbed by the demands of both internal and external customers."