Alibaba to exceed $55.96-billion AI investment amid early returns

Alibaba said it will exceed its 380 billion yuan ($55.96 billion) AI investment plan over the next three years, driven by rising demand for AI services. The company said early returns from its AI push are encouraging it to expand cloud-computing capacity further. Revenue from Alibaba's Cloud Intelligence Group rose 38% YoY to 41.63 billion yuan ($6.13 billion).