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CEO North America > News > Alibaba stock leaps more than 19%

Alibaba stock leaps more than 19%

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Alibaba CEO set to resign to focus on cloud business
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Alibaba Group Holding Ltd. stock surged over 19% after reporting a boost in revenue from AI. The revenue increase highlights the steady progress the company is making against competitors in a post-DeepSeek Chinese development boom.

China’s e-commerce leader posted a triple-digit percentage gain in AI-related product revenue as well as a better-than-anticipated 26% jump in sales from the cloud division — the business most closely tied to the artificial intelligence boom.

The company’s latest revenue was RMB247,652 million (US$34,571 million), reflecting a 2% increase year-over-year. Without including revenue from the disposed Sun Art and Intime businesses, like-for-like revenue would have increased by 10% year-over-year.

Eddie Wu, CEO of Alibaba Group told investors, “This quarter, our strategic focus on consumption and AI + Cloud delivered strong growth. Our decisive investment in the quick commerce business achieved key milestones as we won consumer mindshare. We generated substantial synergies from combining resources of our consumer platforms which resulted in new highs in monthly active consumers and daily order volume. Driven by robust AI demand, Cloud Intelligence Group experienced accelerated revenue growth, and AI-related product revenue is now a significant portion of revenue from external customers.”

Toby Xu, CFO of Alibaba Group, stated, “Our core businesses delivered strong revenue growth. Customer management revenue grew 10% and revenue from Cloud Intelligence Group grew 26%, with AI-related product revenue achieving triple-digit growth for the eighth consecutive quarter. The strength of our core businesses gives us confidence and resources to make significant investments in quick commerce and AI initiatives. We also executed well against our commitment to improve operating efficiency, as AIDC significantly narrowed its loss to approach breakeven this quarter.”

Wu concluded, “Looking ahead, we remain committed to investing in our two strategic pillars of consumption and AI + Cloud to capture historic opportunities and drive long-term growth.”

By CEO NA Editorial Staff

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