Core Insights - Alibaba is investing over 380 billion yuan in cloud and AI hardware infrastructure over the next three years, with a record capital expenditure of 38.7 billion yuan in the latest quarter [1][2] - Alibaba Cloud's revenue grew by 26% year-on-year to 33.398 billion yuan, marking the highest growth rate in three years [1] - The company has invested over 100 billion yuan in AI infrastructure and product development over the past four quarters [2] Industry Impact - The significant investment by Alibaba is expected to benefit various segments of the supply chain, particularly in the chip sector [2] - Domestic computing chips are categorized into GPGPU and DSA, with key players including Wallen Technology, Moore Threads, and Huawei Ascend [3] Collaboration and Development - Alibaba has confirmed collaborations with semiconductor companies, although specific details remain undisclosed [4] - The company is actively developing its own AI chips, with the first server-grade CPU, C930, set for delivery [5] - Alibaba is a strong supporter of the RISC-V architecture, participating in over 30 technical standards and leading 12 key technology groups [5][6] RISC-V Architecture - RISC-V is seen as a modular and open architecture that can be adapted for various applications, including AI and vector computing [7][8] - The ecosystem for RISC-V is still developing, which poses challenges for its widespread adoption as a computing architecture [8]

正如英伟达依赖AI（人工智能）巨头的资本支出（又称成本支出），国内AI巨头的成本支出也对算力 产业链影响巨大。 今年2月，阿里巴巴（09988.HK，股价137.10港元，市值2.62万亿港元）宣布未来三年将投入超过3800 亿元用于建设云和AI硬件基础设施。近日，阿里巴巴披露的最新季度（4—6月）财报显示，公司单季 度资本开支高达387亿元，创下历史纪录。 阿里巴巴的底气，是其云业务收入持续增长。4月—6月，阿里云实现超预期增长，季度收入同比涨26% 至333.98亿元，增速创3年新高。 阿里巴巴的巨额投入，会让哪些产业链细分巨头受益呢？ 芯片是自研还是外购？ 在8月29日举行的阿里巴巴2026财年（2025年4月—2026年3月）第一季度财报电话会上，阿里巴巴CEO （首席执行官）吴泳铭表示，过去四个季度，公司在AI基础设施和AI产品研发方面累计投入超过1000 亿元。 AI基础设施和AI产品的研发绕不开算力芯片。那么，公司算力芯片是自研还是外购呢？ 每经记者｜朱成祥 每经编辑｜文多 阿里巴巴是RISC-V的坚定支持者。 据报道，在RISC-V国际基金会中，阿里巴巴达摩院旗下"平头哥"公司参与了30余个技 ...