Understanding the Market | Alibaba-W rises over 4% as CEO Eddie Wu states they are actively promoting the construction of a 380 billion AI infrastructure
Alibaba-W rose over 4%, reaching a high of HKD 166, once again setting a new high in nearly four years, with the stock price having increased by more than 40% this month. As of the time of publication, it was up 4.04%, priced at HKD 166, with a transaction volume of HKD 10.794 billion. In terms of news, on September 24, Eddie Wu, the director and CEO of Alibaba Group, and the chairman and CEO of Alibaba Cloud Intelligence Group, stated at the 2025 Yunqi Conference that achieving AGI is a certainty, but this is just the starting point, with the ultimate goal being to develop a super artificial intelligence (ASI) that can self-iterate and fully surpass humans. Eddie Wu mentioned that Alibaba is currently actively promoting the construction of AI infrastructure worth HKD 380 billion and plans to make even larger investments. To prepare for the arrival of the ASI era, compared to 2022, the year of GenAI, by 2032, the energy consumption scale of Alibaba Cloud's global data centers will increase tenfold. This means that Alibaba Cloud's computing power investment will increase exponentially
According to Zhitong Finance APP, Alibaba-W (09988) surged over 4%, reaching a high of HKD 166, once again setting a new high in nearly four years, with the stock price having increased by more than 40% this month. As of the time of publication, it rose by 4.04%, priced at HKD 166, with a trading volume of HKD 10.794 billion.
In terms of news, on September 24, Eddie Wu, the director and CEO of Alibaba Group, and the chairman and CEO of Alibaba Cloud Intelligence Group, stated at the 2025 Yunqi Conference that achieving AGI is a certainty, but this is just the starting point, with the ultimate goal being the development of super artificial intelligence (ASI) that can self-iterate and fully surpass humans. Eddie Wu mentioned that Alibaba is currently actively promoting the construction of AI infrastructure worth HKD 380 billion and plans to make even larger investments. To prepare for the arrival of the ASI era, compared to 2022, the year of GenAI, by 2032, the energy consumption scale of Alibaba Cloud's global data centers will increase tenfold. This means that Alibaba Cloud's computing power investment will increase exponentially
