Alibaba will invest 50 billion euros in artificial intelligence

The Chinese giant of online trade Alibaba announced today An investment of 380 billion yuan (50 billion euros) In artificial intelligence and cloud computing in the next three years. The news comes a week after the participant of the group co -founder, Jack but, in a rare meeting between the Chinese president Xi Jinping and several managers in the private sector.

The investment is intended for “Make the Cloud Computing and Artificial Intelligence infrastructure progress in Alibaba explained the company in a press release, without specifying how the funds between the two sectors will be divided.

The Hangzhou company (Eastern China) has some of the most used e-commerce platforms in the country (in particular Taobao). The Alibaba title has reached its highest level of the last three years and the trend has further strengthened last week, with the announcement of a strong growth in sales and the appearance of Jack but alongside Xi Jinping, after several years in which he had almost disappeared on the scene.