capital · May 16, 2026
Alibaba CEO Eddie Wu Signals AI Spending Will Exceed RMB 380 Billion Target Over Three Years
Share the canonical public link.
Alibaba reported March quarter revenue of RMB 243.38 billion on May 13, missing estimates, while Cloud Intelligence Group revenue grew 38% to RMB 41.63 billion. CEO Eddie Wu said on the earnings call that the company will exceed its planned RMB 380 billion AI investment over three years due to early signs of returns. Adjusted EBITA fell 84% year-over-year to RMB 5.1 billion amid heavy AI and quick commerce spending. U.S.-listed shares jumped 7% after the call as executives highlighted clear ROI on AI plus Cloud investments over the next three to five years.
Spend governor blocked model creation: provider_circuit_open (lane=dev, provider=together)