Alibaba Reports 36% Cloud Revenue Growth and Strong AI Momentum
Alibaba Group announced robust financial results for the December quarter, highlighting significant expansion in its cloud computing and artificial intelligence sectors. The company's Cloud Intelligence Group reported a 36% year-over-year revenue increase, reaching RMB 43.28 billion ($6.19 billion). Notably, AI-related product revenue achieved triple-digit growth for the tenth consecutive quarter, underscoring sustained demand for advanced technological solutions. On a like-for-like basis, excluding disposed businesses, the group’s total revenue grew by 9% to RMB 284.84 billion ($40.73 billion). Beyond infrastructure, Alibaba emphasized growing consumer adoption of its AI technologies, revealing that its Qwen App surpassed 300 million monthly active users across all platforms by February. The company also integrated Taobao Instant Commerce into the Qwen App to facilitate delivery orders via conversational AI, while its quick commerce business expanded by 56%. Strategically, Alibaba is continuing to scale investments in AI and cloud infrastructure, driving organizational changes aligned with its full-stack AI strategy that encompasses models, chips, cloud services, and applications. This performance reflects Alibaba's successful pivot towards AI-driven growth amidst a competitive tech landscape.
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Alibaba Reports 36% Cloud Revenue Growth and Strong AI Momentum
Alibaba Group announced robust financial results for the December quarter, highlighting significant expansion in its cloud computing and artificial intelligence sectors. The company's Cloud Intelligence Group reported a 36% year-over-year revenue increase, reaching RMB 43.28 billion ($6.19 billion). Notably, AI-related product revenue achieved triple-digit growth for the tenth consecutive quarter, underscoring sustained demand for advanced technological solutions. On a like-for-like basis, excluding disposed businesses, the group’s total revenue grew by 9% to RMB 284.84 billion ($40.73 billion). Beyond infrastructure, Alibaba emphasized growing consumer adoption of its AI technologies, revealing that its Qwen App surpassed 300 million monthly active users across all platforms by February. The company also integrated Taobao Instant Commerce into the Qwen App to facilitate delivery orders via conversational AI, while its quick commerce business expanded by 56%. Strategically, Alibaba is continuing to scale investments in AI and cloud infrastructure, driving organizational changes aligned with its full-stack AI strategy that encompasses models, chips, cloud services, and applications. This performance reflects Alibaba's successful pivot towards AI-driven growth amidst a competitive tech landscape.
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