Cohen’s sizable stake in Alibaba is a bullish bet on China’s economic growth in the long run, The Wall Street Journal said.

Chinese e-commerce giant Alibaba Group will focus on expanding data centres and computing capabilities to support the next generation of AI applications

On Feb 20, Alibaba reported a faster-than-projected 8 per cent rise in sales to 280.2 billion yuan (S$51.6 billion) in the December quarter, after cloud services revenue expanded its most on a quarterly basis in about two years.

Wall Street became more upbeat on Alibaba Group after the Chinese tech giant posted stellar revenue growth driven by artificial intelligence (AI) boom. Credit：Alibaba Cloud Ryan Cohen, the GameStop CEO and billionaire investor,

Alibaba Group Holding Ltd. has announced an ambitious plan to invest over 380 billion yuan ($53 billion) in AI infrastructure over the next three years. Alibaba joins global AI race by investing $53 billion in AI infrastructure to expand its data centers and computing capabilities.