Alibaba Group's Wu Yongming announced today that over the next three years, Alibaba will invest more than one billion yuan in building cloud and hardware infrastructure, exceeding the total investment of the past decade. This also sets the record for the largest investment ever made by a Chinese private enterprise in the field of cloud and hardware infrastructure construction.

Wu Yongming stated, "The surge has far exceeded expectations, and the domestic technology industry is burgeoning with immense potential. Alibaba will spare no effort to accelerate the construction of cloud and hardware infrastructure, driving the development of the entire industry ecosystem."

Currently, Alibaba Cloud is a leading cloud computing company in Asia, and Alibaba's Tongyi Qianwen model has become a globally renowned open-source model. Wu Yongming stated that the continued investment of hundreds of millions of yuan can greatly boost confidence in related industries, while also demonstrating that Alibaba, as always, believes in and invests in the future.