Overview
- CEO Eddie Wu said Alibaba will boost AI and cloud investment beyond the prior three-year RMB380 billion plan announced earlier this year.
- Management outlined a roadmap featuring international data-center expansion, deployment of Qwen large language models, and integration of Nvidia’s AI stack into Alibaba Cloud.
- BofA’s Joyce Ju raised the stock’s price target to $195 with a Buy rating following the Apsara Conference.
- Citi’s Alicia Yap lifted her price target to $217 with a Buy rating, citing stronger cloud revenue potential and higher capex assumptions.
- Alibaba’s U.S.-listed shares have more than doubled in 2025 and climbed further after the new spending pledge, with investor interest extending to Alibaba-heavy ETFs such as KWEB, PGJ, MCHI, and CQQQ, even as U.S. chip controls and domestic regulation remain key risks.