
Chinese fintech giant Ant Group disclosed on Monday that it invested a record 23.45 billion yuan ($3.26 billion) in research and development during 2024, marking the fourth consecutive year of increased R&D spending since 2021.
What Happened: The Alibaba Group Holding Ltd. (NYSE:BABA) affiliate revealed the figures in its 2024 sustainability report, according to Reuters, highlighting its commitment to technology advancement amid China’s artificial intelligence boom.