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Citi released a research report, expressing optimism about Alibaba's investment potential in China's artificial intelligence sector and listing it as its top pick for AI investments in China. The report noted that Alibaba Cloud possesses vertically integrated full-stack AI capabilities, and the continuous progress of its Tongyi Qianwen large language model and Model-Scope platform positions it favorably in the token economy. Citi reiterated its 'buy' rating for Alibaba, with a target price of HK$204 for its Hong Kong-listed shares and US$205 for its ADRs, believing that its full-stack AI capabilities can bring cost synergies and profit expansion. It is expected that Alibaba Cloud's AI-related revenue will achieve a compound annual growth rate of 90% from fiscal year 2026 to 2031, accounting for 70% of its total cloud business revenue in fiscal year 2031.
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