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.

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.

The Alibaba Group is going all in on AI as it announces plans to invest at least $53 billion over the next three years.

CEO Eddie Wu said Alibaba will ‘aggressively invest’ in AI infrastructure and bolster research and development on advanced new AI models.

Alibaba has branched out from its original B2B e-commerce roots, developing thriving logistics arms and financial spin-offs such as Ant Group. Its cloud division, Alibaba Cloud, already hosts significant R&D operations worldwide and recently launched its own AI offering, QWen, available to iPhone users in China via a dedicated app.

The latest earnings report from Alibaba Group highlights resilience in key segments, led by cloud and international commerce growth.

Alibaba Group Holding's cloud computing arm has introduced its updated artificial intelligence (AI) model, Animate Anyone 2, which the company touts as simplifying the animation of lifelike characters with just a static image and one video cue.

We recently published a list of 7 Cheap Global Stocks to Buy Right Now. In this article, we are going to take a look at where Alibaba Group Holding Limited (NYSE:BABA) stands against other cheap global stocks to buy right now.