Chang Jiang Shang Bao·2025-09-24 19:15Core Viewpoint - Alibaba's stock price surged by 9.16% on September 24, reaching a four-year high of 174 HKD per share, driven by the announcements made at the 2025 Cloud Summit, including a partnership with NVIDIA and the launch of seven large model products [1][7]. Group 1: Stock Performance - Alibaba's stock has doubled since the beginning of the year, reflecting strong market interest and investor confidence [1][7]. - The company's market capitalization increased by 283.8 billion HKD on the same day [8]. Group 2: AI Investments and Developments - Alibaba announced a significant investment of 380 billion CNY (approximately 380 billion HKD) in AI infrastructure, with plans for further investments [1][6]. - The company launched seven large model products, including Qwen3-Max and Qwen3-Coder, and reported over 300 open-source models available for download [6][7]. Group 3: Future AI Vision - CEO Wu Yongming emphasized that achieving Artificial General Intelligence (AGI) is just the beginning, with a vision for Super Artificial Intelligence (ASI) as the next milestone [2][3]. - Wu outlined a three-stage path to ASI: emergence of intelligence, autonomous action, and self-iteration, positioning large models as the next generation of operating systems [3][4]. Group 4: Strategic Partnerships - Alibaba's collaboration with NVIDIA focuses on various aspects of Physical AI, including data synthesis, model training, and environment simulation [6][7].