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On the evening of August 15,AlibabaThe Group released its latest quarterly results.AIpromoteAlibaba CloudReturning to growth, quarterly revenue increased by 6% to 26.549 billion yuan, of which AI-related product revenue achieved triple-digit growth.Cloud BusinessAchieved double-digit growth. At the same time, Alibaba Cloud's profits soared, with adjusted EBITA profits increasing by 155% year-on-year, and EBITA profits in a single quarter reaching 2.337 billion yuan.

The financial report shows that in this quarter, Alibaba Cloud focused on the "AI-driven, public cloud first" strategy and continued to expand its technology and scale advantages. The financial report shows that Alibaba Cloud's external revenue (excluding Alibaba's affiliated companies' cloud revenue) also increased by 6% year-on-year, mainly due to AI-driven adoption of related products and double-digit growth in public cloud business. Among them, AI-related product revenue continued to maintain triple-digit growth in this quarter after achieving triple-digit growth in the previous quarter.

At the same time, Alibaba Cloud's profits soared. In the quarter, Alibaba Cloud's adjusted EBITA revenue increased by 155% year-on-year to RMB 2.337 billion, compared with RMB 916 million in the same period of 2023. The financial report stated that this growth was mainly due to its focus on publicCloud Strategy, and improved operating efficiencies, but profit growth was partially offset by continued investments in customers and technology.

The financial report emphasizes that Alibaba Cloud will continue to invest in customers and technologies, especially in building AI technologies and infrastructure to drive the adoption of cloud computing for AI applications and maintain Alibaba Cloud's market leadership.

In terms of technological progress, Alibaba Cloud released the open source model Qwen2-72B in this quarter, which has improved the capabilities of code, mathematics, reasoning, instruction following, and multi-language understanding. Currently, the number of downloads of Tongyi Qianwen open source models has exceeded 20 million. (Dingxi)

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