Jun 14, 2024 04:26 AM

FINANCE

Ant Group Splashes Out Record $2.9 Billion on Research for the AI Age

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Ant has been boosting its research and development investment over the past three years

Ant has been boosting its research and development investment over the past three years

(Bloomberg) — Ant Group Co. spent a record 21.2 billion yuan ($2.9 billion) on research last year as the fintech giant increased its investment in technology including artificial intelligence.

The affiliate of Alibaba Group Holding Ltd. has been boosting its research and development investment over the past three years, according to its 2023 sustainability report released Thursday.

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