<div id="readability-page-1"><div><div>Alibaba Group (NYSE: BABA) stock climbed to its highest level in nearly four years after the company announced it would increase artificial intelligence spending beyond its previously disclosed $50 billion-plus target. The stock is trading lower on Thursday, but it is still up 107% year-to-date, surpassing the NYSE Composite index (which includes Alibaba) by over 12% in returns.Incoming CEO Eddie Wu projected global AI investment could reach $4 trillion within five years and confirmed Alibaba will add to its February plan to spend 380 billion yuan ($53 billion) over three years on AI models and infrastructure, Bloomberg reported on Thursday.Also Read: Alibaba Faces Fresh Scrutiny As China Cracks Down On Online Content ViolationsWu said the company's cloud division, already spanning the U.S. to Australia, will expand with new data centers in Brazil, France and the Netherlands, while also rolling out its Qwen large language models and full-stack AI services.Wu added that AI development is advancing faster than expected, driving heavier demand for infrastructure.<div>Co-founder Jack Ma reasserted his role at Alibaba. After retreating during Beijing's tech crackdown, he is now steering strategy under the internal slogan &#34;Make Alibaba Great Again,&#34; directing senior leaders Eddie Wu, Joe Tsai, and Jiang Fan to focus on AI and cloud investments.The Chinese e-commerce juggernaut reported triple-digit growth in AI-related products and a 26% sales jump in its cloud business in its fiscal first quarter.</div>Ark Investment's Cathie Wood also disclosed fresh stakes in Alibaba after four years, citing Beijing's more supportive stance and Alibaba's global expansion.Alibaba rivals, Tencent (OTC: TCEHY), Baidu (NASDAQ: BIDU) and JD.com (NASDAQ: JD), are collectively projected to spend over $32 billion on AI infrastructure in 2025, up sharply from 2023.Facing U.S. chip export restrictions, Alibaba has also been developing its own semiconductors through its T-Head unit, recently securing China Unicom as a customer for its Pingtouge AI accelerators. At the same time, it is integrating Nvidia's (NASDAQ: NVDA) AI development tools into its cloud.Price Actions: BABA stock was trading lower by 1.12% to $174.53 at last check on Thursday.<ul> <li>Nvidia Commits $500 Million To UK Autonomous Driving Startup Wayve</li> </ul>Photo: Shutterstock</div></div></div>

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Alibaba Group's stock surged 107% year-to-date after announcing an increase in AI spending beyond $50 billion. Despite a slight decline on Thursday, the stock remains strong, outperforming the NYSE Composite index. Incoming CEO Eddie Wu highlighted plans for global AI investment and expansion of the cloud division with new data centers. The company reported significant growth in AI products and cloud sales. Co-founder Jack Ma is refocusing on AI and cloud strategies, while competitors are also ramping up AI infrastructure spending.

- Alibaba Group's stock reached its highest level in nearly four years following an announcement to increase AI spending beyond $50 billion.  
- Incoming CEO Eddie Wu projected global AI investment could hit $4 trillion in five years and confirmed plans to expand Alibaba's cloud division with new data centers.  
- The company reported significant growth in AI-related products and cloud sales, while also developing its own semiconductors amid U.S. chip export restrictions.

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Alibaba Surges 107% After Boosting AI Budget Beyond $50 Billion And Reporting Strong Cloud Growth