Jing Ji Guan Cha Wang·2026-02-11 17:59Core Insights - Alibaba's AI strategy has shifted from a single model competition to a systematic capability of "model + ecosystem + AI infrastructure" [1] - The integration of Tongyi Qianwen with high-frequency scenarios like e-commerce and local services aims to create a closed-loop experience, with increased capital expenditure on cloud and AI infrastructure to secure next-generation platform dominance [1] - Market forecasts predict Alibaba's cloud revenue will grow over 33% year-on-year in the 2026 calendar year, with AI cloud contributing significantly to this growth [1] Recent Developments - Alibaba has launched the next-generation image generation model Qwen-Image-2.0, which performs well in text-to-image evaluations and supports the generation of professional PPTs and infographics [2] - A partnership between Tongyi Qianwen and Fliggy has resulted in the introduction of AI ticketing services with over 40 travel brands, providing users with exclusive subsidies and intelligent experiences [2] - Monthly active users of Tongyi Qianwen have surpassed 100 million, with plans for a significant product iteration soon [2] Stock Performance - Alibaba's stock has shown significant volatility, with a 2.27% fluctuation over the past week and a range of 7.26% [3] - On February 11, the stock price dropped by 2.26%, closing at $162.75 with a trading volume of approximately $648 million [3] - Despite the fluctuations, net buying from southbound funds over five consecutive days totaled HKD 45.91 billion, indicating positive capital signals [3] - Year-to-date, the stock has increased by 11.03%, influenced by AI-related positive news and market sentiment [3]