Alibaba AI revenue multiples increase, approaching payback period

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May 14, 2026

Alibaba AI revenue multiples increase, finally reaching the payback period

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Driven by AI, Alibaba (09988)’s cloud division continues to show strong growth. According to the fiscal year’s fourth quarter performance (as of end of March), Alibaba Cloud Intelligence Group’s revenue accelerated as expected by 38% to 41.6 billion yuan (RMB; same applies below). The growth rate of external commercialized revenue was 40%. Revenue from AI-related products has recorded triple-digit (on a multiples basis) year-over-year increases for 11 consecutive quarters. In the previous quarter, annualized revenue from Alibaba Cloud’s AI business surpassed 35.8 billion yuan. Net profit last quarter …

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