Group 1 - Core viewpoint: CITIC Securities has given Alibaba Group (09988) a "Buy" rating, forecasting revenue growth rates of 3.30% and 11.11% for FY2026 and FY2027 respectively, with Non-GAAP net profits of 121.73 billion yuan and 162.61 billion yuan, reflecting year-on-year changes of -23.02% and 33.58% [1] - Valuation method: The company employs a segmented valuation approach, estimating the value per ADS for the China e-commerce group and the Cloud Intelligence group at $145.67 and $71.04 respectively, leading to a target price of $216.72 per ADS, equivalent to HKD 210.76 per share [1] Group 2 - FY2Q2026 outlook for China e-commerce group: Revenue growth is expected to be around 11.55%, with CMR growth at approximately 10.04%, driven by cross-selling from flash sales and improved advertising efficiency due to AI [2] - Profit expectations: Adjusted EBITA is projected to decline by 72.58% to 12.21 billion yuan, primarily due to investments in flash sales, which are expected to incur losses of about 35 billion yuan; however, excluding flash sales, the e-commerce business's EBITA is expected to show positive year-on-year growth [2] - Cloud Intelligence group outlook: Revenue growth is anticipated to be around 30%, with an adjusted EBITA margin of approximately 9%, remaining stable year-on-year; capital expenditures are expected to remain high as Alibaba actively advances its 380 billion yuan AI infrastructure development [2] - Future capacity growth: By 2032, the energy consumption of Alibaba Cloud's global data centers is projected to increase tenfold compared to 2022, indicating an exponential rise in computing power investments [2]

每经AI快讯，9月24日，阿里巴巴集团CEO、阿里云智能集团董事长兼CEO吴泳铭在云栖大会上表示， 为了迎接ASI时代的到来，对比2022年这个GenAI的元年，到2032年阿里云全球数据中心的能耗规模将 提升10倍。这意味着阿里云算力投入将指数级提升。 ...

(责任编辑：宋政 HN002) 格隆汇9月24日｜阿里巴巴集团CEO、阿里云智能集团董事长兼CEO吴泳铭在云栖大会上表示，为了迎 接ASI时代的到来，对比2022年这个GenAI的元年，到2032年阿里云全球数据中心的能耗规模将提升10 倍。这意味着阿里云算力投入将指数级提升。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

责任编辑：江钰涵 新浪科技讯 9月24日上午消息，阿里巴巴集团CEO、阿里云智能集团董事长兼CEO吴泳铭在云栖大会上 表示，为了迎接ASI时代的到来，对比2022年这个GenAI的元年，到2032年阿里云全球数据中心的能耗 规模将提升10倍。这意味着阿里云算力投入将指数级提升。 ...