Jack Ma, co-founder of Chinese e-commerce giant Alibaba, speaks in Paris in 2019.
Through Philip Lopez/AFP Getty Image)
Chinese e-commerce giant Alibaba highlighted his AI ambitions as it gave strong results for its third quarter. The fuel is expected to become a leader in AI, and the dual-list company shares were up 12.7% till 11:30 am in Hong Kong, while growing 8.1% in New York overnight.
On Thursday, the company announced that in the last three months of 2024, net income jumped from 333% to 49 billion yuan and thanks to the change in the price of income and its equity investment from operation. From a year ago, 8% to 280 billion yuan ($ 38.4 billion) than 8% than revenue.
Cofounder Jack Ma, who stepped as the chairman of Alibaba in 2019, but still partially receives his money from a stake in the company, adding about 1 billion dollars to its net worth, so that the world on Thursday According to the forbes’ list of real -time billionaires, according to the five largest wealth of the beneficiaries.
With yesterday rally in New York, Alibaba’s stocks have increased by more than 60% so far this year, adding $ 120 billion to its market capitalization in the US, although the company of $ 323 billion still achieved in 2020 More than 50% from the peak, call analysts with Thursday gave a lot of reasons to investors for hope.
On call, CEO Eddie Wu designed a future outline, including Alibaba Cloud, which provides the computing power required for AI, will benefit from the spread of related applications, especially a highly affordable model to China’s Deepsack in January After being released in. Wu, one of the most trusted lieutenants of MA, who with Tsai, who said that the company’s primary objective is chasing the Artificial General Intelligence (AGI), which refers to AI that corresponds to human intelligence or Crossing
Wu said, “We continue to develop models that expand the boundaries of intelligence.” He said that he predicts a future in which AI will handle more human jobs.
Alibaba’s investment in AI and the related infrastructure in the next three years will be more than what has spent in the last decade, according to Wu, which did not specify the zodiac signs. Wang Shiaon, a Shanghai-based analyst of research firm 86 research, says “Sankalp” investment will maintain a lead on Alibaba rivals and assure investors in development over the next five to ten years.
Alibaba will soon release another AI model, after launching its Cwwen 2.5-Max model in late January, which the company says that Dipsek and some other OpenEE models perform better.
Investment in AI is required for long -term development, written to Thomas Chong, an analyst of Investment Bank Jefferies in a Thursday’s research note. Alibaba is now an “AI investment”, analysts of Hong Kong -based research firm Blue Lotus Capital Advisors wrote in a Friday research note.
Blue Lotus analysts believe that Alibaba Cloud, which has 30 to 40% of China’s public cloud market, will host more AI applications below the road, according to the research note.
Western companies seeking to introduce AI products in China are likely to work with Alibaba, especially since Apple used the company’s model for AI services for iPhone users in the country, Chelsea Tam, in Morningstar A Hong Kong -based senior equity analyst, Chelsea Tam, is written in a Friday research note.
“We believe that investors are expecting a strong growth from their cloud unit,” TAM wrote.
For Alibaba, this may be a return after years of intensive government pressure, which began after MA criticized China’s financial regulatory system in 2020. He was among the private sector entrepreneurs from Chinese President Xi Jinping on Monday. It was widely considered as a sign of support and government incentive to private enterprises amidst rapid growth between economic problems at home and increasing stress with the US.
