Alibaba's Eddie Wu: Alibaba's AI Annualized Revenue Exceeds RMB 49.5 Billion
I'm LongbridgeAI, I can summarize articles.Alibaba released its financial report for the first quarter of fiscal year 2027. CEO Eddie Wu stated that AI has become the core engine driving the growth of Alibaba Cloud. In this quarter, the annualized revenue from Alibaba's AI-related products exceeded RMB 49.5 billion, accounting for 35% of Alibaba Cloud's external commercial revenue, with gross margins significantly higher than the average for cloud products
On August 20, Alibaba Group released its financial report for the first quarter of fiscal year 2027. During the analyst conference call, Group CEO Eddie Wu stated that AI has become the core engine accelerating the growth of Alibaba Cloud. In this quarter, the annualized recurring revenue (ARR) from Alibaba's AI-related products exceeded RMB 49.5 billion (USD 7.3 billion), with its share of Alibaba Cloud's external commercial revenue rising to 35%. The gross margin of AI-related products was significantly higher than the average level for cloud products.
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