Alibaba has announced that it will aggressively invest in artificial intelligence over the next three years. Following the announcement, the company’s shares surged by 14.6%. The Chinese e-commerce giant, Alibaba, has shifted gears for artificial intelligence. Eddie Wu, the company’s Executive Chairman, revealed that the technology group will invest more in cloud and artificial intelligence infrastructure over the next three years than in the past decade. Wu did not provide detailed financial information about the investment. The company’s expenditure in 2024 had risen from 24 billion yuan to 72.5 billion yuan (approximately $10 billion). This increase was largely attributed to investments in artificial intelligence language model training, processors, and infrastructure. Following the news, Alibaba’s shares saw a 14.6% increase. The company’s share increase has reached 70% since the beginning of the year. JACK MA BACK ON THE SCENE! Additionally, Alibaba has strengthened with the return of its co-founder, Jack Ma. Ma participated in a meeting earlier this week with Chinese leader Xi Jinping. In 2020, Jack Ma had become a prominent figure amidst government pressure on the technology sector. Criticizing banks and regulators, Ma had been absent from the public eye for a long time. During this period, Chinese regulators canceled Ant Group’s $37 billion IPO and imposed a record fine on Alibaba.