Alibaba CEO signals capex boost as China tech giant forges full-stack AI path

Alibaba Group Holding expects its annualised recurring revenue from AI models and applications to hit 30 billion yuan (US$4.42 billion) by the year’s end, as the company ramps up its AI commitment. AI products are projected to generate more than 50 per cent of Alibaba’s cloud-computing revenue within the next year, as the tech giant looks to step up its AI monetisation efforts. Alibaba CEO Eddie Wu Yongming said the company was likely to “overshoot” the original capital-expenditure target of 380...