Alibaba CEO: Over 380 billion yuan will be invested in the next three years to build cloud and AI hardware infrastructure

Foresight News reported that 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, exceeding the total amount of the past 10 years (approximately 300 billion yuan). Overall, the next three years will be the largest and most concentrated period of cloud construction in the history of Alibaba Group. Therefore, the capital expenditures during this concentrated construction period will have a certain impact on hardware amortization and other aspects. However, given the strong user demand and predictions for the future of the industry, the group believes that the infrastructure invested in will soon be absorbed by the needs of internal and external customers