The Chinese technology giant first mentioned the plan last week when it reported results but didn’t provide a specific figure.

Alibaba said the total investment amount exceeds the company's spending in AI and cloud computing over the past decade.

In a landmark move following Jack Ma's meeting with President Xi Jinping, Chinese tech giant Alibaba announces its largest-ever technology investment of R921 billion, focusing on artificial intelligence and cloud computing infrastructure.

Alibaba Group has highlighted that it has been focusing more on these two sectors lately, with plans to integrate artificial intelligence across several of its divisions such as e-commerce and consumer applications.

Alibaba Group Holding Ltd. pledged to invest more than 380 billion yuan ($53 billion) on AI infrastructure such as data centers over the next three years, a major commitment that underscores the e-commerce pioneer’s ambitions of becoming a leader in artificial intelligence.

Chinese tech giant Alibaba announced on Monday that it will invest $50 billion into artificial intelligence and cloud technology over the next three years.

Chinese tech company Alibaba (NYSE:BABA) on Monday unveiled plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years.