Zheng Quan Shi Bao·2025-09-01 03:16Core Viewpoint - Alibaba Cloud has denied rumors regarding a large-scale GPU purchase from Cambricon, clarifying that while it supports domestic supply chains, the claim of acquiring 150,000 GPUs is false [2] Group 1: Financial Performance - Alibaba's Q1 FY2026 financial report shows a 10% year-on-year revenue growth, with net profit increasing by 76% [3] - Cloud computing revenue reached 33.4 billion RMB, marking a 26% year-on-year growth, significantly up from the previous quarter's 18% growth [3] - AI-related product revenue has seen triple-digit year-on-year growth for eight consecutive quarters [3] Group 2: Strategic Investments - Alibaba plans to invest 380 billion RMB over the next three years in AI and cloud infrastructure, averaging over 120 billion RMB annually, positioning itself among the top global tech companies in terms of investment [3] - The company is developing a new AI chip aimed at filling the gap left by NVIDIA in the Chinese market, currently in the testing phase and compatible with NVIDIA's architecture [3] Group 3: Market Reactions - Following the strong financial performance and AI chip news, Alibaba's stock surged nearly 13% in the US market on August 29, with Hong Kong shares rising over 18% in early trading [3] - Cambricon's stock experienced significant volatility, with a notable drop of over 8% after a previous surge that made it the highest-priced stock in A-shares [2][3] Group 4: Industry Insights - Citic Securities reports indicate that Alibaba's latest financial results reflect high growth in capital expenditure and cloud business, with a strong focus on AI infrastructure amidst geopolitical challenges [4] - The report suggests that domestic cloud providers are likely to see a resurgence in capital expenditure driven by AI demand, benefiting companies involved in AI computing, servers, and networking equipment [4]