Why BofA Turned More Bullish on Alibaba (BABA) After AI Push

Core Viewpoint - Alibaba Group is recognized as a leading player in the artificial intelligence sector, with significant investments planned in AI and cloud computing to adapt to the emerging era of Artificial Superintelligence (ASI) [2][3]. Investment Insights - BofA Securities analyst Joyce Ju has raised Alibaba's price target to $195.00 from $168.00 while maintaining a Buy rating, indicating confidence in the company's growth potential [1]. - The company plans to increase its investment in AI and cloud computing beyond the initial budget of RMB380 billion over the next three years [3]. Strategic Positioning - Alibaba aims to establish itself as the world's leading full-stack AI services provider, focusing on delivering high-quality large models and a global AI cloud network [2][3]. - Management believes that the future will see only 5-6 super cloud computing platforms globally, positioning Alibaba to capitalize on this trend [3].