Alibaba said on Monday it plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years. The Chinese e-commerce giant had said it had plans to invest in the sector while announcing its results on Friday,

The Chinese technology giant first mentioned the plan last week when it reported results but didn’t provide a specific figure.

Alibaba Group Holding Ltd. pledged to invest more than 380 billion yuan ($53 billion) on AI infrastructure such as data centers over the next three years, a major commitment that underscores the e-commerce pioneer’s ambitions of becoming a leader in artificial intelligence.

Anthropic launched an advanced AI model on Monday that can produce faster responses or display its step-by-step reasoning process, as it looks to gain a competitive edge in the generative artificial intelligence industry.

The OpenAI rival wants to simplify the user experience and rethink when people actually need AI systems to mimic human reasoning.

OpenAI rival Anthropic on Monday released what it said is its smartest artificial intelligence model to date, particularly when it comes to computer coding.