capital · May 18, 2026
Alibaba Discloses AI Revenue Annualized Run Rate of RMB 35.8 Billion Representing 30% of Cloud External Revenue
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JB Global Capital published analysis on May 15 of Alibaba's March quarter 2026 results showing first-time disclosure of AI-related product revenue at an annualized run rate of RMB 35.8 billion or $5.3 billion. This figure equals 30% of Cloud Intelligence Group's external revenue with near-term targets of $1.38 billion annualized by June 2026 scaling to $4.14 billion by fiscal year end. CEO Eddie Wu stated no GPUs sit idle on servers and customers wait on a backlog. Free cash flow turned negative $6.76 billion due to aggressive AI infrastructure investments.
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