木头姐为何时隔四年买回阿里？

Core Viewpoint - Alibaba's stock has recently surged, reaching a nearly four-year high, prompting significant investment interest, including a notable re-entry by Cathie Wood's ARK fund, indicating a potential market sentiment shift and a strategic transformation within Alibaba [1] Group 1: AI Strategy - Alibaba is deepening its collaboration with NVIDIA in the field of Physical AI, which allows AI to operate in the real world, enhancing its cloud services [2][5] - This partnership enables businesses to utilize NVIDIA's AI tools directly on Alibaba Cloud, transforming its offerings from basic infrastructure to comprehensive "AI + Cloud" solutions, which have higher profit margins and growth potential [3] - Alibaba's self-developed Tongyi Qianwen model is becoming the foundational technology across its business ecosystem, revitalizing its commercial model and positioning AI as the next-generation operating system [3] Group 2: Instant Retail - Alibaba is investing 50 billion yuan to subsidize its food delivery business, reflecting a commitment to regain market share and prioritize user experience in the competitive instant retail sector [4][7] - The company is leveraging its high user base of 800 million monthly active users on its mapping service, Gaode, to expand its monetization strategies beyond traditional services [4][7] Group 3: Self-Developed Chips - Alibaba's semiconductor division, Tsinghua Unigroup, is crucial for its AI strategy, focusing on developing cloud computing and AIoT chips to provide stable and efficient computing power for its AI models [8][9] - This "soft and hard integration" approach strengthens Alibaba's position in the AI era, ensuring both software and hardware capabilities are aligned for future growth [9] Group 4: Market Sentiment and Valuation - Citigroup has raised Alibaba's stock price target from $187 to $217, citing accelerated growth in its AI and cloud businesses, with a projected compound annual growth rate of 29% for cloud revenue [11] - Cathie Wood's significant investment in Alibaba signals a strong market belief in the company's potential for exponential growth in the AI sector, marking a strategic transformation from an e-commerce giant to an AI-driven technology company [11]