06:26 AM EST, 02/24/2025 (MT Newswires) -- Alibaba Group ( BABA ) said Monday it intends to allocate at least 380 billion Chinese renminbi ($52.40 billion) in the next three years to improve its cloud computing and artificial intelligence capabilities.

The company said the planned investment surpasses its total AI and cloud spending over the last 10 years.

Alibaba's ( BABA ) US-listed shares were down 3.1% in recent Monday premarket activity.