Alibaba said the total investment amount exceeds the company's spending in AI and cloud computing over the past decade.

Alibaba Group has highlighted that it has been focusing more on these two sectors lately, with plans to integrate artificial intelligence across several of its divisions such as e-commerce and consumer applications.

Chinese tech giant Alibaba announced on Monday that it will invest $50 billion into artificial intelligence and cloud technology over the next three years.

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

Chinese tech giant Alibaba said Monday it would spend more than $50 billion on artificial intelligence and cloud computing over the next three years,

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.