Alibaba Group released financial results for the first quarter of the 2027 fiscal year. At the analysts' conference call, Group CEO Wu Yongming said that the outbreak of AI agents directly drove demand for token and GPU computing power, while also greatly boosting demand for traditional cloud products such as CPU computing power, storage, databases, and networks. Alibaba Cloud is fully upgrading to Agentic Cloud. According to the latest data for August, ARR revenue from model and application services, including MaaS, has surpassed 16 billion yuan. Based on current market feedback and contract orders, demand for computing power will continue to exceed supply. As our supply capacity continues to improve, AI+ Cloud's revenue growth will continue to accelerate over the next few quarters, and profitability will continue to increase.

Alibaba Group released financial results for the first quarter of the 2027 fiscal year. At the analysts' conference call, Group CEO Wu Yongming said that the outbreak of AI agents directly drove demand for token and GPU computing power, while also greatly boosting demand for traditional cloud products such as CPU computing power, storage, databases, and networks. Alibaba Cloud is fully upgrading to Agentic Cloud. According to the latest data for August, ARR revenue from model and application services, including MaaS, has exceeded 16 billion yuan. Based on current market feedback and contract orders, demand for computing power will continue to exceed supply. As our supply capacity continues to improve, AI+ Cloud's revenue growth will continue to accelerate over the next few quarters, and profitability will continue to increase.