Alibaba Group Holding (NYSE:BABA) announced plans on Thursday to generate $100 billion in annual external revenue from its combined cloud and AI businesses over the next five years. The Chinese cloud giant also disclosed the production progress of its T-Head chip unit for the first time.
CEO Eddie Wu Yongming said token consumption on the Model Studio platform has increased sixfold over the past three months. He also predicted that model-as-a-service offerings will become the largest growth driver for the cloud division.
Alibaba has begun large-scale production of its in-house GPUs, with its T-Head division shipping over 470,000 AI chips and approaching 10 billion yuan ($1.45 billion) in annual revenue over the past two years.
Jiang Fan, head of Alibaba’s e-commerce business, said Alibaba aims to surpass 1 trillion yuan ($144.92 billion) in quick-commerce GMV by FY2028 and achieve profitability by …