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

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.

Alibaba Group Holding Ltd has announced a massive investment of $53 billion in artificial intelligence (AI) infrastructure, including data centers, in the next three years. The move highlights the e-commerce giant's ambition to become a global leader in AI technology.

Alibaba, co-founded by Jack Ma plans to spend more on its AI and cloud computing network than it has over the past decade.

Alibaba (NYSE: BABA) has announced a massive investment of at least 380 billion yuan ($52.44 billion) over the next three years to strengthen its cloud computing and artificial intelligence (AI) infrastructure.