Zhong Guo Ji Jin Bao·2025-11-13 16:18Core Insights - Alibaba has secretly launched the "Qianwen" project, aiming to develop a personal AI assistant app to compete directly with ChatGPT [1][3] - The initiative is seen as a crucial step for Alibaba to monetize its vast consumer services and expand its user base [3][5] Group 1: Project Overview - The "Qianwen" app will gradually incorporate Agentic-AI features to enhance shopping functionalities on platforms like Taobao [3] - Alibaba plans to expand the app globally through an overseas version, reflecting its ambition to compete with industry leaders like OpenAI and DeepSeek [3][4] Group 2: Financial Performance - In Q1 of FY2026, Alibaba's capital expenditure on "AI + Cloud" reached 38.6 billion yuan, a 220% year-on-year increase [5] - AI-related products have driven Alibaba Cloud's revenue growth, which increased by 26% year-on-year, marking the highest growth rate in three years [5] - AI application revenues have achieved triple-digit growth for eight consecutive quarters, indicating strong demand across various industries [5] Group 3: Competitive Landscape - Alibaba joins other major Chinese tech companies in investing heavily in AI, aiming to establish and promote transformative technologies [4] - The company is focused on both developing AI services and the underlying infrastructure, such as chips, to support its technological ambitions [4]