Alibaba Cloud, the cloud computing arm of Alibaba Group, has inaugurated its second data center in Thailand, expanding its infrastructure to meet the rising demand for cloud services and generative artificial intelligence (AI).

Chinese e-commerce giant Alibaba Group Holding saw revenue rise 8 per cent in the December quarter to beat analysts’ estimates, as the company’s cloud computing services unit posted strong growth. The Hangzhou-based tech conglomerate on Thursday reported total revenue of 280.

Alibaba Group Holding Ltd. (NYSE: BABA) has announced an investment of 380 billion yuan ($53 billion) for its cloud computing and AI infrastructure, making it the largest private computing project to date.

The spending over the next three years is more than half the US$100 billion the US plans for its Stargate project.

U.S.-listed shares of Alibaba Group Holding (BABA) rose more than 8% on Thursday and were climbing in after-hours trading after the Chinese e-commerce giant posted quarterly results, with retail sentiment staying bullish.

Chinese e-commerce giant Alibaba Group Holding saw profit surge 239 per cent cent in the December quarter to beat analysts' estimates, as the company's cloud computing services unit posted strong growth.

Alibaba to invest over $52 billion in AI, cloud infrastructure over next three years. Prosus to acquire Just Eat Takeaway for €4.1B in all-cash deal. Shein's 2024 profit dropped nearly 40%.