Alibaba Earnings Call: AI-Related Products ARR Surpasses 49.5B, Pingtouge Chips to Ramp Up in H2, Capex Expected to Pay Back Within Three Years

Alibaba's AI commercialization is accelerating across the board: cloud business revenue grew 45% year-over-year, with AI-related products' annualized revenue reaching 49.5 billion yuan, accounting for 35% of total, marking 12 consecutive quarters of triple-digit growth. Pingtouge's self-developed chips have entered large-scale commercial use, with over 650 customers. Management clarified that the payback period for AI computing power investments is approximately 2.5-3 years, and the deployment of self-developed chips will further improve gross margins.