BABA(US:BABA) 3 6 Ke·2025-09-26 00:55Core Insights - Ark Invest has initiated a position in Alibaba for the first time in four years, signaling a strategic shift towards the company [1][4] - On the day of the purchase, Alibaba's stock reached its highest point since 2021, with a year-to-date increase of nearly 100% [2] - The investment amount was $16.3 million [3] Group 1: AI Strategy and Investment Logic - Cathie Wood emphasizes that the investment is not a technical rebound but a clear strategic pivot towards Alibaba's AI initiatives [4][6] - Alibaba is accelerating its AI strategy, with plans to invest over 380 billion yuan and launch the Qwen3-Max model in collaboration with Nvidia [5][10] - Wood believes that the current moment represents an "AI inflection point," aligning with Alibaba's shift towards becoming a comprehensive AI service provider [10][12] Group 2: Focus on Innovation and Long-term Growth - Wood's investment philosophy prioritizes companies that leverage technology to transform industries, even if they are not currently profitable [9][26] - She is particularly interested in the rapid advancements in Chinese AI models, which are improving through open-source development [17][22] - The emphasis is on proprietary data as a key competitive advantage in AI, rather than just model size [18][19] Group 3: Comparison of AI Development Paths - Wood contrasts the AI development paths of China and the U.S., noting that China is rapidly applying AI in various sectors while the U.S. is still focused on capital investment without guaranteed results [22][24] - She highlights that Alibaba's recent developments are not just conceptual but demonstrate tangible results in AI applications [22][28] Group 4: Investment Discipline and Future Outlook - Wood maintains a strict investment discipline, requiring a projected annual return of 15% over five years before considering an investment [26][28] - The current investment in Alibaba is based on its potential to transform AI into a practical tool for businesses, supported by significant infrastructure investments [29][34] - The focus is on the ability of technology to deliver real-world applications and results, moving beyond mere concepts [34][35]