Overview
- CEO Eddie Wu said Alibaba will lift AI and cloud spending beyond the prior RMB380 billion (about $53 billion) three‑year plan announced earlier this year.
- The company unveiled its latest large language model, Qwen3‑Max, with more than 1 trillion parameters, and outlined broader deployment of Qwen across its cloud services.
- Alibaba announced a partnership with Nvidia in physical AI covering areas such as robotics and self‑driving, alongside continued integration of Nvidia’s AI tools for cloud customers.
- Management detailed plans to expand global data centers and build a developer‑friendly, full‑stack ecosystem that it believes will be one of only a few global super‑clouds.
- U.S.-listed shares have more than doubled in 2025, reaching their highest since October 2021, and BofA lifted its price target to $195 with a Buy rating as investors weigh ongoing export and regulatory risks.