Core Insights - Alibaba Cloud has entered into a multi-year partnership with NBA China, becoming the official cloud computing and AI partner for NBA China [1] - The collaboration aims to develop innovative applications to enhance live event viewing and fan interaction experiences [1] - These innovative applications will focus on key NBA events such as the All-Star Game, NBA Playoffs, and the Finals [1]

阿里云与NBA中国官宣达成多年合作，阿里云将成为NBA中国官方云计算与AI合作伙伴，该合作将基 于通义千问为NBA中国开发专属AI模型，并将在NBA中国赛上首次推出"360度实时回放技术"，通过AI 算法提供沉浸式观赛视角。NBA中国还将采用阿里云的基础设施，以承载其包括NBA App、NBA中国 官网和NBA中国小程序在内的数字平台。 将在NBA中国赛上首次推出"360度实时回放技术"。 ...

Core Insights - Alibaba Group has announced a multi-year partnership with the National Basketball Association (NBA) to provide artificial intelligence and cloud computing services [1] Company Summary - The partnership aims to leverage Alibaba's technological capabilities in AI and cloud computing to enhance the NBA's operations and fan engagement [1] Industry Summary - This collaboration highlights the growing trend of sports organizations partnering with technology companies to improve their digital infrastructure and services [1]

October 8, 2025 11:51 AM GMT Alibaba Group Holding | Asia Pacific CMR growth to remain robust at 10% YoY: According to NBS, online retail sales of goods rose 7.7% YoY in July-August (vs. 6.3% in 2Q25). While the benefit from software service fees introduced last September is fading, we expect continued improvement in take-rate, supported by rising adoption of Quanzhantui and incremental CMR contribution from quick commerce (QC) initiatives. These investments have driven a 25% increase in Taobao's MAU. Conso ...

30 Sep 2025 03:55:19 ET │ 14 pages Global Artificial Intelligence Raising AI Infrastructure Forecasts CITI'S TAKE We noted in AI: The Information Era's Apex Technology that we're entering a period of accelerating growth in both investment and implementation of AI driven by improvements in technology, enterprise adoption, and infrastructure expansion. We did not expect the expression of that acceleration to be compressed into a two-week period involving the flurry of announced investments, partnerships, and ...

6 October 2025 | 12:07AM EDT Equity Research AMERICAS TECHNOLOGY: INTERNET Framing the AI Narrative – Five Key Debates About Industry Trends and Market Environment On the back of our Goldman Sachs Communacopia + Technology Conference in September and a series of company/industry announcements for long-term AI capacity, a rising chorus of investor debates have begun to focus on whether we have entered an AI bubble. Identifying and calling out a bubble has been a historically difficult dynamic for public mark ...

国内篇：国产 AI 云 VS 国产算力 20251008 摘要 OpenAI 通过与三星、海力士合作抢占上游存储资源，并与 AMD 合作获 取算力，加速变相融资，锁定上游算力资源，增强其竞争优势。 Sora 2 的推出有望引爆国内 C 端需求，推动 AI 视频在短视频平台发展， 带动 AI 视频商业需求增长，利好腾讯视频号、抖音、快手、哔哩哔哩等 平台。 国内 AI 产业在用户规模和数据积累方面具有优势，尤其是在视频平台和 庞大的小程序生态系统方面，为 AI 模型训练和应用提供了丰富资源。 国内大模型与云平台深度绑定，如阿里的通义千问与阿里云，使得国内 AI 云平台在产业链中拥有主导地位，可决定算力使用和供应链联动。 国内 GPU 行业快速发展，多家公司积极融资研发下一代产品，可能导致 头部公司胜出，云厂商将提升定价能力并扶持大模型公司。 晶圆厂在全球及国内市场中均处于稀缺性地位，受益于国产 GPU 公司崛 起带来的流片需求增加，其重要性将愈发凸显。 国内云厂商和大模型厂商应借鉴 OpenAI 策略，通过锁定上游算力资源 来增强竞争力，即使产品性能稍弱，也能在竞争中占据优势。 Q&A OpenAI 最近在多模 ...

Core Insights - The article discusses the intertwined ecosystem of key players in the AI infrastructure space, including NVIDIA, OpenAI, AMD, and Oracle, highlighting their roles and relationships in the current AI revolution [1][2]. Group 1: Company Roles - OpenAI serves as the AI model developer and central "demand anchor," requiring substantial compute power, data centers, and scale [3]. - NVIDIA provides GPUs and accelerators to OpenAI, invests in OpenAI-linked infrastructure, and benefits from guaranteed demand [3][4]. - AMD also supplies GPUs with large-scale deployment commitments, similar to NVIDIA [7]. - Oracle builds data center infrastructure and cloud hosting for OpenAI, including "Stargate" facilities and power contracts [7]. Group 2: Economic Implications - OpenAI's AI models drive significant demand for high-performance GPUs, creating a symbiotic relationship with NVIDIA and AMD [7]. - NVIDIA's potential $100 billion investment in OpenAI highlights a strategic focus on long-term demand rather than immediate revenue [7]. - Oracle's $300 billion commitment to data center construction and AI hosting indicates a comprehensive infrastructure approach beyond just GPU supply [7]. Group 3: Market Dynamics - The current AI landscape shows speculative traits, with NVIDIA's forward P/E ratio exceeding 40x, suggesting high investor expectations [9]. - The concentration of capital among a few firms creates a feedback loop that reinforces investment and valuation [9]. - Unlike the dot-com era, the AI buildout involves tangible infrastructure, such as chips and data centers, which retain value even during downturns [10]. Group 4: Risks and Signals - Potential risks include order cancellations, delayed deployments, and regulatory scrutiny, which could impact market confidence and valuations [6][13]. - A 50% order cancellation from OpenAI could lead to a 4-5% short-term earnings hit for NVIDIA and 2-3% for AMD, indicating market sensitivity to earnings misses [13]. - The narrative momentum surrounding AI could drive market performance, but a weakening narrative may lead to valuation corrections [10]. Group 5: Cooling Solutions in AI Infrastructure - Companies specializing in advanced cooling technologies for data centers are positioned to benefit from the expanding AI infrastructure [11]. - Vertiv Holdings Co provides thermal management solutions and has recently acquired Great Lakes Data Racks & Cabinets for $200 million to enhance its capabilities [12][14]. - Schneider Electric has bolstered its data center cooling portfolio by acquiring a 75% stake in Motivair Corp for $850 million [17].

Artificial intelligence holds the promise of revolutionizing industry, curing diseases, and solving humanity's biggest problems. It remains to be seen how it might do that with today's large language models or AI-generated video, but in anticipation of the big boom, tech companies are spending billions to scale up their data centers and position for the coming revolution. We're not talking about a few billion, either. In recent weeks, eye-popping deals between AI giants have sent the markets to all-time ...

Core Insights - CoreWeave CEO Michael Intrator dismissed concerns regarding circular investments among AI giants, asserting that major tech companies are purchasing infrastructure due to high demand [1][3] - CoreWeave went public in March, raising $1.5 billion, marking the largest U.S. tech IPO since 2021, with its stock price increasing over 200% since its debut [1][2] - The company has secured significant contracts, including a $6.5 billion expansion with OpenAI, totaling $22.4 billion, a $14.2 billion deal with Meta, and a $6.3 billion order with Nvidia [2] Industry Dynamics - Concerns on Wall Street about circular investments are countered by Intrator, who emphasizes that these deals signify a substantial infrastructure buildout [3][4] - Intrator noted that partnerships are common during major infrastructure developments, reflecting a broader market trend [3]