BABA(US:BABA) 创业家·2025-09-25 10:11Core Viewpoint - Jack Ma's return to Alibaba is seen as a pivotal moment for the company, signaling a potential turnaround in its fortunes and a renewed focus on innovation, particularly in AI technology [5][12]. Group 1: Jack Ma's Return - Jack Ma was spotted at Alibaba's digital ecosystem innovation park, indicating his increased involvement in the company after a long absence [6]. - Following Ma's return, Alibaba's stock price surged by 5.28% on September 17, reaching a market capitalization of 3.02 trillion HKD, marking a significant recovery [8]. - Reports suggest that Ma's engagement with Alibaba's management has reached its highest level in five years, with a particular focus on AI initiatives [10]. Group 2: Strategic Shifts and Investments - Alibaba has made substantial investments in AI, including a 500 billion RMB push into local life services and a commitment to spend 380 billion RMB on AI and cloud infrastructure over the next three years [11][22]. - The company has restructured its business into four main segments, emphasizing e-commerce, cloud + AI, international digital commerce, and various ecosystem businesses [18]. - Alibaba's cloud revenue grew by 26% in the second quarter, reflecting the success of its AI and cloud strategy [22]. Group 3: Market Performance and Competitive Position - Alibaba's stock has nearly doubled in value since the beginning of 2025, driven by positive market sentiment and strategic initiatives [21]. - The company has launched a 500 billion RMB subsidy plan for local delivery services, significantly increasing order volumes on its platforms [21]. - Alibaba's market share in the domestic food delivery sector has reached 43%, narrowing the gap with Meituan, which holds 47% [21]. Group 4: Founder’s Influence and Management Style - The "founder model" is highlighted as crucial in navigating technological changes, with Jack Ma's active involvement expected to accelerate decision-making and strategic execution [25][26]. - Ma's return is anticipated to rejuvenate Alibaba's corporate culture and restore employee confidence, as he embodies the company's entrepreneurial spirit [26]. - The article draws parallels between Ma's management style and that of other successful founders, emphasizing the importance of direct involvement in operational details [25].