Alibaba Group Holding Ltd.’s U.S.-listed stock fell nearly 7% on Monday after the online retailer said it plans to spend about $53 billion over the next three years on its cloud computing and Artificial Intelligence infrastructure. The spending plan amounts to nearly eight times its most recent quarterly profit of $6.7 billion.

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.

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