According to Morgan Stanley's report, it is projected that by 2032, Alibaba's electricity consumption in global data centers will surge to ten times the level seen in 2022. This growth trajectory may prompt Alibaba to ramp up its investments in artificial intelligence. In the meantime, Alibaba has unveiled its latest flagship model, Qwen3-Max, along with an upgraded iteration of the Bailian AI Agent platform. Morgan Stanley continues to hold a positive outlook on Alibaba's status as a leading AI facilitator in China. Consequently, the firm has reiterated its target price for Alibaba at $200 and assigned an "Overweight" rating. Please note that this article is not intended as investment advice. Verification is recommended prior to making any investment decisions.