people · May 17, 2026
Alibaba CEO Signals Capex Boost for Full-Stack AI Path After Earnings
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Alibaba CEO Eddie Wu signaled plans to exceed the original CNY380 billion AI capex target during the March quarter earnings. Quarterly revenue rose 3% in line with estimates while AI-related product revenue reached 8.97 billion yuan with triple-digit growth for the eleventh straight quarter. US-listed shares jumped as much as 6% after the company disclosed first AI sales data. AI model and application services annualized recurring revenue is expected to reach 30 billion yuan by year-end.
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