Alibaba’s Joe Tsai: Xi Jinping’s entrepreneur meeting fuels business confidence in China
Beijing’s positive signal has solidified the tech giant’s commitment to investing in AI, Alibaba chairman Joe Tsai says
“I wouldn’t underestimate the importance of that event,” Tsai said on Wednesday at a gathering hosted by US broadcaster CNBC. “The message is very, very clear that the government is looking to private enterprises to come back and boost the economy.”
The planned outlay also exceeds Alibaba’s total spending on AI infrastructure over the past decade and is equivalent to half of the initial US$100 billion investment in the Stargate AI initiative promoted by the US.
Alibaba owns the South China Morning Post.
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