重投AI，阿里起飞

Core Viewpoint - Alibaba has significantly increased its investment in AI, with over 100 billion yuan spent in the past four quarters, demonstrating its commitment to the AI sector and dispelling market concerns about reduced investment [2][3]. Group 1: Financial Performance - In Q1 of FY2026, Alibaba's AI and cloud capital expenditure reached 38.6 billion yuan, a year-on-year increase of 220%, marking a new quarterly high [2]. - Alibaba Cloud's revenue growth accelerated to 26%, the highest in three years, driven by AI-related products, which have seen triple-digit year-on-year growth for eight consecutive quarters [2][3]. - AI revenue now accounts for over 20% of external commercialization revenue [2]. Group 2: AI Strategy - Alibaba's AI strategy focuses on a full-stack approach, integrating capabilities across various layers, including computing power, cloud, models, and applications, similar to Google's strategy [5][6]. - The company plans to invest 380 billion yuan in cloud and AI hardware infrastructure over the next three years, surpassing the total investment of the past decade [6]. Group 3: Global Infrastructure and Model Development - Alibaba Cloud has launched eight new AI and cloud data centers in various regions, with plans to expand to 30 regions and 95 availability zones by the end of the year [7]. - The company has developed a series of advanced AI models, achieving multiple global open-source championships and significant downloads, with over 300 models released and more than 400 million downloads [10]. Group 4: AI Applications - Alibaba is integrating AI across its various business units, with initiatives like DingTalk's new AI-driven office system and the launch of Gaode Map 2025, which features an AI assistant for personalized travel planning [14][16]. - The introduction of the RecGPT model on Taobao aims to enhance user experience and efficiency, resulting in over 5% increases in user engagement metrics [19]. Group 5: Long-term Vision - Alibaba's long-term commitment to AI is characterized by substantial investments in model development and open-source initiatives, positioning the company as a leader in the AI ecosystem [21][22].