Alibaba’s Bold Moves in AI and Smart Payments

Alibaba ( (BABA) ) has been popular among investors this week. Here is a recap of the key news on this stock.

Alibaba is making significant strides in the tech world with its subsidiary, Ant Group, pioneering mobile payments using smart glasses. This innovative approach was recently demonstrated in Hong Kong through a transaction made with Meizu’s StarV smart glasses, powered by Ant’s AI technologies. The company aims to expand this technology globally, leveraging its Alipay+ network, which connects over 1.7 billion user accounts across 70 markets. The smart glasses market is expected to grow substantially, from $1.93 billion in 2024 to $8.26 billion by 2030, presenting a lucrative opportunity for Alibaba.

Additionally, Alibaba is investing heavily in AI and cloud infrastructure, with a $53 billion plan over the next three years. This investment is already yielding results, as seen in the company’s recent 18% year-over-year cloud revenue growth. Despite potential challenges from U.S.-China trade tensions and regulatory pressures, Alibaba remains an attractive investment. Analysts have given Alibaba a ‘Strong Buy’ rating, with a consensus price target suggesting a 46.73% upside, making it a compelling option for investors looking for growth in the tech sector.