BABA(HK:09988) 财联社·2025-09-24 09:20Core Viewpoint - Alibaba's stock surged over 9% today, increasing its market capitalization to approximately HKD 3.32 trillion, with a one-day increase of nearly HKD 300 billion [3]. Group 1: AI Infrastructure and Collaborations - Alibaba announced a three-year plan to invest HKD 380 billion in AI infrastructure, with a commitment to further increase investments to prepare for the arrival of the ASI (Artificial Super Intelligence) era [4][11]. - The company revealed a partnership with NVIDIA to develop Physical AI, covering aspects such as data synthesis, model training, environmental simulation reinforcement learning, and model validation testing [5][7]. Group 2: Global Expansion and Cloud Strategy - Alibaba Cloud introduced Qwen3-Max, described as the largest and most capable model to date, and announced plans for global infrastructure expansion, including new cloud computing nodes in Brazil, France, and the Netherlands, as well as expansions in Mexico, Japan, South Korea, Malaysia, and Dubai [12]. - The cloud industry is witnessing a "cloud going abroad" trend, with major Chinese internet companies like Tencent and Baidu also issuing bonds for data center construction, indicating a significant shift towards international markets [12][13]. Group 3: Market Sentiment and Investment Trends - There is a growing interest from foreign investors in Alibaba, with notable purchases from Cathie Wood's Ark Invest, marking the first time since 2021 that the firm has re-entered Alibaba's stock [11]. - The current market sentiment towards AI-related investments in China is optimistic, with expectations of valuation recovery for Chinese internet companies as AI technologies advance [13].