Alibaba’s Joe Tsai: Xi Jinping’s entrepreneur meeting fuels business confidence in China
President Xi Jinping's recent meeting with technology leaders has significantly boosted the confidence of Chinese companies, leading Alibaba to make substantial investments in AI. Alibaba chairman Joe Tsai emphasized the importance of the meeting, stating it sent a clear message that the government wants private enterprises to help stimulate the economy.
The symposium in February, attended by Alibaba founder Jack Ma and other tech executives, reinforced Alibaba's commitment to AI. The company plans to invest at least 380 billion yuan (US$52 billion) in cloud computing and AI infrastructure over the next three years, marking China’s largest-ever computing project financed by a single private business and exceeding their total AI infrastructure spending of the past decade.
via SCMP Full Text Feed
President Xi Jinping's recent meeting with technology leaders has significantly boosted the confidence of Chinese companies, leading Alibaba to make substantial investments in AI. Alibaba chairman Joe Tsai emphasized the importance of the meeting, stating it sent a clear message that the government wants private enterprises to help stimulate the economy.
The symposium in February, attended by Alibaba founder Jack Ma and other tech executives, reinforced Alibaba's commitment to AI. The company plans to invest at least 380 billion yuan (US$52 billion) in cloud computing and AI infrastructure over the next three years, marking China’s largest-ever computing project financed by a single private business and exceeding their total AI infrastructure spending of the past decade.
via SCMP Full Text Feed
