国泰海通证券研究·2026-02-11 14:02Core Insights - Alibaba's top-level strategy is shifting from "model competition" to "system integration," focusing on creating a closed-loop experience that integrates AI with high-frequency scenarios in its digital economy ecosystem [1] - The core of Alibaba's AI strategy post-2025 will not be about the scale of individual models but rather about integrating "Tongyi Qianwen" with various services like e-commerce, local life, payment, travel, and office solutions [1] Group 1 - The "Tongyun Ge" concept emphasizes the integration of Tongyi Lab, Alibaba Cloud, and Pingtouge into a unified "golden triangle," highlighting the collaboration of computing power, model capabilities, and system engineering [1] - The AI2C initiative focuses on user scale and super applications, while AI2B targets enterprise commercialization [2] - The "Qianwen App" will undergo a significant upgrade in January 2026, fully integrating with Alibaba's ecosystem services such as Taobao, Alipay, and Fliggy, marking a transition from conceptualization to practical implementation in the C-end "entry battle" [2] Group 2 - DingTalk is positioned as an "enterprise-level AI intelligent platform," embedding model capabilities into business workflows and systems [2] - The business model is evolving from selling functional subscriptions to selling outcomes and results, indicating a shift in focus towards effectiveness [2] - Significant capital investments will be directed towards cloud and AI infrastructure, including data center expansions, server clusters, and high-performance GPU procurement to support model and platform expansion [2]