Citibank lists Alibaba as China's top AI investment stock; H-share target price: 204 HKD

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Golden Finance reports that on May 12, Citibank released a research report stating that Alibaba Cloud, a subsidiary of Alibaba, has vertically integrated full-stack artificial intelligence capabilities spanning the Pingtouge chip division, Infrastructure as a Service (IaaS), Platform as a Service (PaaS), to Model as a Service (MaaS). Together with the ongoing progress of its Tongyi Qianwen large language model (LLM) and the Model-Scope platform, the bank is optimistic about the company’s advantageous position in the rapidly growing token economy, and has listed it as a top stock for AI investments in China. Citibank reiterated its “Buy” rating on Alibaba, with a target price of HKD 204 for Hong Kong-listed shares and a target price of USD 205 for ADRs, believing that the company’s continuously improving full-stack AI capabilities can drive cost-synergy effects and create room for profit expansion. The bank expects that Alibaba Cloud’s AI-related revenue will achieve a compound annual growth rate of 90% in fiscal years 2026 to 2031, and that by fiscal year 2031 it will account for 70% of total revenue from cloud business.

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