BABA(US:BABA) Di Yi Cai Jing·2025-09-17 03:32Core Viewpoint - Alibaba is emphasizing a "re-entrepreneurship" approach following the return of founder Jack Ma, which has positively impacted its stock performance and market valuation [1][4]. Stock Performance - As of September 17, Alibaba's Hong Kong stock opened with a 3.84% increase, bringing its market capitalization back above 3 trillion CNY [1]. - Over the past 250 days, Alibaba's stock has risen by 98.99%, reaching a three-year high [1]. Strategic Developments - The return of Jack Ma has coincided with significant restructuring within Alibaba, including the integration of various business units such as Ele.me and Fliggy into the Alibaba e-commerce group [4]. - Alibaba has committed to investing 380 billion CNY over three years in AI and cloud infrastructure, which exceeds the total investment of the past decade [4]. Business Focus - Jack Ma has shown increased interest in specific business areas, including AI, during his recent public appearances, indicating a shift towards innovation and strategic direction [3][4]. - Alibaba is focusing on its AI strategy and has launched the next-generation open-source Qwen3-Next model, which emphasizes high training and inference cost-effectiveness [4]. Market Sentiment - The market is optimistic about Alibaba's "second growth curve," driven by advancements in AI, chips, and other high-tech areas [4]. - There are rumors about Alibaba developing an AI chip, which would be produced by a domestic company rather than TSMC, although the company has not confirmed this [4].