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

U.S.-listed shares of Alibaba Group are falling 3% in premarket trading Monday after the Chinese tech giant announced plans to invest more than $52 billion in artificial intelligence and cloud infrastructure over the next three years.

Alibaba Group has highlighted that it has been focusing more on these two sectors lately, with plans to integrate artificial intelligence across several of its divisions such as e-commerce and consumer applications.

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,

Shares have soared this year, but the online retailer's plans for an AI spending spree haven’t gone down so well.

The investment signals Alibaba’s ambition to compete with AWS, Microsoft Azure, and Google Cloud as it expands beyond its core e-commerce business.