Core Viewpoint - The rapid construction of data centers globally exceeds the initial demand driven by AI, raising concerns about potential bubble risks in the industry [3]. Group 1: Industry Insights - Major tech companies and investment funds are hastily building server bases across Asia and the US without clear customer demand considerations [3]. - There are signs of a bubble as many enterprises and funds are raising billions to build data centers without securing usage agreements from potential users like Microsoft, Google, Amazon, or Alibaba [3]. - The spending by US companies on AI infrastructure is significant, with Amazon, Alphabet, and Meta planning to invest $100 billion, $75 billion, and $65 billion respectively this year [4]. Group 2: Company Developments - Alibaba plans to invest over 380 billion yuan in cloud and AI hardware infrastructure over the next three years, marking the largest investment in this sector by a private company in China [5]. - Alibaba's Q3 FY2025 revenue reached 280.15 billion yuan, with a net profit of 46.434 billion yuan, reflecting a 333% year-on-year increase [5]. - The company is actively recruiting for over 3,000 positions, with nearly 50% of these roles related to AI, indicating a strong focus on talent acquisition in this field [5].