马云被曝回归，阿里加码布局两大主线

Core Viewpoint - Jack Ma's increased involvement in Alibaba's operations, particularly in AI and the competitive landscape of instant retail, signals a strategic shift for the company as it focuses on major growth areas like AI and consumer services [3][5]. Group 1: Jack Ma's Return and Strategic Focus - Jack Ma has been more actively involved in Alibaba's business this year compared to the past five years, particularly in AI and the instant retail sector, with a notable investment of 50 billion yuan in the food delivery competition [3]. - Alibaba's CEO, Wu Yongming, emphasized that AI and cloud technology, along with a consumer services platform, represent two historic strategic opportunities for the company [3]. Group 2: Consumer Services and Market Performance - Alibaba's significant investment in consumer services has yielded positive results, with Taobao's flash sales achieving an average of 80 million daily orders and a peak of 120 million, reflecting a 200% increase in monthly active buyers since April [3]. - Goldman Sachs predicts that Taobao's flash sales could capture 45% of the market share in the food delivery sector due to the changing competitive landscape [3]. Group 3: AI Development and Strategic Partnerships - Alibaba is developing a new AI chip to fill the gap left by Nvidia in the Chinese market, which is currently in the testing phase and aims to support a broader range of AI inference tasks [5]. - The strategic investment in Hello's Robotaxi business marks a deepening collaboration between Alibaba and Hello in areas such as autonomous driving technology and AI model development [6][7]. Group 4: Stock Performance and Market Outlook - Alibaba's stock has risen nearly 20% since September, with its market capitalization returning to 3 trillion HKD, nearly doubling since the beginning of the year [5][7]. - Despite the positive outlook, there are concerns about short-term profitability due to increased investments, leading to a 13% downward adjustment in earnings forecasts for the fiscal year 2026 [8].