Strong Revenue Growth
Alibaba reported a 10% year-over-year growth in total revenue on a like-for-like basis, excluding revenue from Sun Art and Intime. Additionally, the China E-commerce Group saw a 10% increase in customer management revenue.
Cloud Intelligence Group Acceleration
Cloud Intelligence Group revenue grew by 26% year-over-year, driven by AI-related product revenue maintaining triple-digit growth for the eighth consecutive quarter.
AI and Cloud Strategic Partnerships
Alibaba formed a strategic partnership with SAP, focusing on cloud and AI, highlighting Alibaba Cloud's capabilities in supporting SAP's global cloud computing needs.
Quick Commerce Milestones
Alibaba's quick commerce business achieved significant milestones, reaching nearly 300 million monthly active consumers in August, contributing to a 25% increase in monthly active consumers on the Taobao app.
AI Investments
Alibaba committed RMB 380 billion over the next three years to build its cloud and AI infrastructure, with a current quarter CapEx investment of RMB 38.6 billion in AI and cloud infrastructure.