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Alibaba Invests $50 Billion in AI, Shares Plunge 9%

3/23/2025

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Summary

Story summary

Alibaba is set to pour more than $50 billion into artificial intelligence and cloud computing over the next three years, igniting worries about its profitability. Despite a recent uptick in revenue, shares plummeted by over nine percent after the announcement, as the company seeks to bolster its tech infrastructure in a recovering Chinese economy with backing from President Xi Jinping.

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Story summary

Alibaba is set to pour more than $50 billion into artificial intelligence and cloud computing over the next three years, igniting worries about its profitability. Despite a recent uptick in revenue, shares plummeted by over nine percent after the announcement, as the company seeks to bolster its tech infrastructure in a recovering Chinese economy with backing from President Xi Jinping.