The era of Alibaba renting out computing power has arrived; 20,000 GPUs become money-printing machines

Bloomberg reported that Moonshot AI has reached a computing power agreement with Alibaba. Alibaba is renting out 20,000 NVIDIA GPUs to Kimi's parent company, generating hundreds of millions in recurring revenue. Qwen 3.8-Max launched simultaneously with 2.4 trillion parameters. The API costs 1 yuan per million tokens for input and 3 yuan per million tokens for output, which is only 40% of the international price for Opus 5. Alibaba has transformed from burning cash on AI development into a computing power landlord. This business model transformation is the real reason why funds are willing to aggressively buy in.