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 said on Monday it plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure 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.

Alibaba plans to "invest at least 380 billion yuan ($53 billion) over the next three years to advance its cloud computing and AI infrastructure", a company statement said. Investo