Alibaba Group Holding (BABA) CEO Eddie Yongming Wu said Thursday in its Q4 earnings call that the company would invest "aggressively" in artificial intelligence.
Shares in the company were up 4.4% premarket from Thursday's closing price of $135.97.
The planned investments, which will include cloud and AI infrastructure, over the next three years would exceed those made over the last decade, according to Wu.
The company's current AI strategy focuses on artificial general intelligence, or a type of AI that aims to mimic human-level thinking, Wu said, but adding that the company plans to launch a deep reasoning model soon.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.