Key Takeaways Alibaba's AI shift includes a major HONOR partnership and broad adoption of its Qwen3 language model. BABA is investing RMB 380B in AI infrastructure and sees rising cloud revenues from surging AI demand. JD faces falling margins from food delivery and capital strain from logistics bets in Abu Dhabi and the UK.China's e-commerce titans Alibaba (BABA) and JD.com (JD) represent two distinct approaches to capturing the world's largest digital commerce market. Both companies have evolved beyond ...