India, Feb. 24 -- Alibaba Group Holding Ltd., co-founded by Chinese entrepreneur Jack Ma, on Monday pledged to invest US$52.4 billion in its cloud computing and artificial intelligence (AI) infrastructure over the next three years.

This will be China's largest-ever computing project financed by a single private business, a move that will further deepen Beijing's AI race against the USA.

Also Read:Meta expands in Bengaluru, hiring AI engineers for new office

In a conference call with analysts last week, CEO Eddie Wu Yongming said the company plans to "aggressively invest" in AI and cloud computing infrastructure over the next three years, reported South China Morning Post.

China's AI market witnessed a major boost this year with the la...