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Benzinga
Benzinga
Business
Kaustubh Bagalkote

China's Ant Group Boosts R&D Spending To Record $3.26 Billion In 2024 Amid AI Push

Ant Group

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.

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