On August 28, 2024, I saw the Alibaba office building in Nanjing, Jiangsu Province, China.
CFOTO | Future Publishing | Getty Images
Alibaba Soaring in Hong Kong on Friday Follow excellent quarterly resultsGrowth by the company’s cloud intelligence and e-commerce sectors.
The Chinese tech giant’s share price is as high as 11%, and the final trade is 9.18%.
“We expect the outlook for Baba’s e-commerce business to remain strong in 1HCY25F, driven by ongoing transaction subsidies,” Nomura said in a report on Friday.
exist Try to stimulate consumptionLast July, China revealed that it plans to allocate RMB 300 billion (US$41.5 billion) in extra-long special government bonds to enhance its current trading and equipment upgrade policies.
Vey Sern Ling, senior equity consultant at UBP, said in an email to CNBC that domestic e-commerce growth is heading towards sustainable growth and profit recovery, and overall sentiment is promoting a wider range of Chinese technology sectors.
Since AI startup DeepSeek stands out, Chinese tech stocks have been largely lost, challenging the U.S.-led AI ecosystem in propositions of higher performance and lower cost.
The next three years may be a single period when Alibaba’s most concentrated investment in AI and cloud infrastructure construction.
Alibaba founder Jack Ma Rare private meeting chaired by Chinese President Xi Jinping on Monday. During the meeting, Xi Jinping encouraged private enterprises to “express their abilities” and strengthened their confidence in operating a “new era”.
Alibaba has become the target of Beijing’s strong regulatory crackdown. Starting from 2020 Ant Group, a financial technology member of the company, was forced to cancel its IPO by regulators.
Alibaba’s Hong Kong listing year-on-year
Barclays wrote in a note that Alibaba has been making “significant steps” in promoting its AI cloud business after launching its QWEN 2.5-MAX flagship AI Foundation model, adding that the company’s inference about AI The demand has increased dramatically, which is caused by the demand for AI inference, which is caused. 70% of its new demand.
“But, huge opportunities often require a lot of investment,” Barclays said.
“The next three years may be a single period for Alibaba to establish the most concentrated investment in AI and Cloud Infrastructure,” Barclays analysts pointed out. The Giant has spent nearly 270 billion in the past decade.
The company reported net income on Thursday of 48.945 billion yuan ($6.72 billion) for the quarter ended December 31, surpassing LSEG’s estimate of more than 40.6 billion yuan, three times higher than 14.4 billion yuan in the same period last year above.
Alibaba’s revenue of RMB 280.15 billion is also higher than analysts’ expectations for RMB 27.34 billion.
Shares of companies listed in the U.S. on Thursday jumped more than 8% after the results were released.
– Ruxandra Iordache, Evelyn Cheng and Anniek Bao of CNBC contributed to this report.
