Alibaba Group CEO Eddie Wu announced the company aims to generate more than $100B in annual cloud computing and AI revenue within five years, up from roughly $14.5B in the 11 months through February. The target comes as Alibaba’s core e-commerce business stagnates, with customer management revenue growing just 1% in the quarter through December, while cloud revenue grew 35% driven by rapid AI adoption. Earlier this week, Alibaba reorganized its major AI businesses under a newly created division managed directly by Wu, who said the move is part of the company’s effort to adapt to an era increasingly driven by AI agents.
