
Alibaba is aggressively pivoting from mature e-commerce to a full-stack AI and cloud strategy, backed by significant insider buying. AI Cloud and Compute Services revenue surged 45% YoY, with adjusted EBITA up 133% to $830 million, highlighting strong early returns from AI investments. Heavy AI capex—up 75% YoY—will likely keep near-term cash flow negative, but management targets breakeven in three years and RMB 100 billion external cloud revenue by 2030.










