Alibaba forecasts 30 billion yuan AI revenue by 2026

Alibaba, the prominent Chinese firm in e-commerce and cloud computing, anticipates generating 30 billion yuan in AI revenue by 2026, with AI agents expected to account for over half of its cloud sales. In a shareholder letter released on Wednesday, chairman Joe Tsai and CEO Eddie Wu Yongming emphasized that the market for firms offering comprehensive AI solutions is set to expand significantly. They noted that Alibaba is at a pivotal moment in the evolution of artificial general intelligence. During the cloud summit held in Hangzhou on Wednesday, senior vice-president Liu Weiguang referred to the company as the architect of China's AI factory. Alibaba also owns the South China Morning Post.