Alibaba said on Monday it plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years.

KEY TAKEAWAYS U.S.-listed shares of Alibaba Group are falling 3% in premarket trading Monday after the Chinese tech giant announced plans to invest more than $52 billion in artificial intelligence and cloud infrastructure over the next three years.

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

Alibaba Group Holding Ltd has announced a massive investment of $53 billion in artificial intelligence (AI) infrastructure, including data centers, in the next three years. The move highlights the e-commerce giant's ambition to become a global leader in AI technology.

Alibaba Group Holding Ltd. pledged to invest more than 380 billion yuan ($53 billion) on AI infrastructure such as data centers over the next three years, a major commitment that underscores the e-commerce pioneer’s ambitions of becoming a leader in artificial intelligence.

The Chinese technology giant first mentioned the plan last week when it reported results but didn’t provide a specific figure.

Chinese tech company Alibaba (NYSE:BABA) on Monday unveiled plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years.