Alibaba has announced a significant investment in artificial intelligence (AI) development, with a price tag of at least 380 billion yuan ($52.44 billion) over a three-year period. The company aims to pursue artificial general intelligence (AGI), or AI that can think and reason at or above the level of humans.
Alibaba’s CEO Eddie Wu stated that the primary aim is to extend the boundaries of intelligence, creating more opportunities for growth. This goal is shared by other tech giants like OpenAI, Google, and Meta, who are also working towards developing AGI.
The investment will help Alibaba develop AI models that can analyze market trends, redesign supply chains, handle customer service, and make strategic decisions. The company believes this technology will have significant implications for businesses, enabling them to make data-driven decisions across multiple industries and domains.
Alibaba has already begun 2025 as a leader in China’s AI race, attracting investors with its business deals and seeing its stock climb over 68% this year. The company has also signed a deal with Apple to help develop an AI-powered iPhone for sale in China.
Meanwhile, PayPal has announced a strategic partnership with Verifone to improve the checkout experience. The partnership aims to create an omnichannel platform designed for large retailers and merchants, reducing operational costs and improving authorization rates. PayPal plans to launch this platform today, dubbed “PayPal Open,” which will provide enterprise merchants with access to value-added services like fraud detection and chargebacks.
The company believes its dual approach of working with existing wallets and preparing for future technologies like biometrics will help it achieve its goal of “winning checkout.” Keller stated that the card isn’t disappearing, but they can layer value through financing offers and cross-channel loyalty.
Source: https://www.pymnts.com/artificial-intelligence-2/2025/alibaba-places-52-billion-price-tag-on-ai-plans