Fintech Giant Ant Group Spends Record $2.9 Billion on Research
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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.