Citibank: Maintaining Alibaba-W (09988) “Buy” Rating, H Shares Target Price HK$189

The Zhitong Finance App learned that Citi released a research report saying that maintaining the Alibaba-W (09988) “buy” rating, the target price for BABA.US (BABA.US) US stocks is 190 US dollars, and the target price for H shares is HK$189. The second day of the Yunqi Conference further strengthened the company's unique ability to monetize multiple layers of native IaaS, MaaS and AI applications. Continuing the announcement on the first day, the second day showcased its end-to-end product execution details for the entire AI technology stack.

The bank pointed out that in addition to the existing 31 regions and 107 availability zones, Alibaba Cloud plans to open new computing regions in Turkey, Finland and the Netherlands in the next 12 months, and expand data centers in Malaysia, Germany, the United Arab Emirates, France and Hong Kong, China; the density of high-density AI data centers is 5 to 10 times higher than traditional facilities, and can be deployed within 100 days.

On the side of Pingtou, Ling Jun's intelligent computing service expanded the M890 Hypernode, with 9TB of memory and 51.2Tb/s bandwidth, supporting MoE models with up to 10 trillion parameters and up to 130,000 card clusters. It has served more than 100 enterprise customers. The new service is scheduled to be launched in Ningxia in the fourth quarter of 2026.

According to the report, the Tongyi Qianwen AI platform was upgraded to a low-latency enterprise-grade proxy infrastructure, which reduced the reminder cache cost by more than 95%, reduced the average time per output token to 5 ms, and provided 99.9% SLA and cryptographic inference; Ali also launched AI native tools such as Meoo 1.0, VoicePica 2.0, Wan Xiaozhi 3.0, and WonderClip International Edition, as well as the Happy Oyster world model, Qwen- Product updates such as Audio-3.1, Whale Edge AI, and Qwen Book.