--- 格式版本: 2 标题: "AliViews: Eddie Wu on Alibaba's Q1 Earnings" 原文链接: "https://www.alibabacloud.com/blog/aliviews-eddie-wu-on-alibabas-q1-earnings_603490" 发布日期: "2026-08-21" 发布时间校准状态: "found" 发布时间需复核: "否" 发布时间来源: "rule:configured_publication_date_rule" 发布时间证据: "alibaba-cloud-news-publication-date html:original: Alibaba Cloud Community August 21, 2026" 发布时间校准原因: "信源发布日期识别规则直接确认发布时间" 发布时间校准置信度: "high" 发布时间候选数量: 2 发布时间严格候选数量: 2 发布时间原页读取状态: "source template page reused from URL open" 发布时间未找到原因: "" 发布时间校准时间: "2026-08-22T13:10:31+08:00" 发布时间仲裁状态: "skipped" 发布时间仲裁尝试次数: 0 发布时间仲裁耗时毫秒: 0 发现时间: "2026-08-22T13:07:09+08:00" 入库时间: "2026-08-22T05:10:31.101Z" 来源平台: "固定入口" 搜索渠道: "fixed_url" 搜索词: "https://www.alibabacloud.com/blog" 匹配关键词: - "supernode" - "GPU" - "delivery" - "AI" 相关厂家: - "阿里" 相关专家: [] 内容类型: "网页" 抓取工具: "Free Fetch + Defuddle" 清洗工具: "Defuddle Markdown + Defuddle/Readability 正文提取" 原始附件: [] AI优质: "是" AI打分: 90 AI分档: "高置信优质" AI质检状态: "通过" AI打分理由: "阿里云官方发布，Eddie Wu（吴泳铭）亲自解读Q1财报，涵盖玄铁M890芯片商业化进展、AI基础设施投资方向、云业务增长动能等核心信息。来源权威，商业部署信号强，信息密度高，具备行业参考价值。" AI质检模型: "ali-deepseek-v4-flash" AI质检时间: "2026-08-24T10:40:44+08:00" AI主题相关性: 20 AI来源权威性: 15 AI新颖性: 15 AI技术细节: 15 AI商业部署信号: 15 AI完整性: 10 AI摘要: "阿里巴巴CEO吴泳铭在2026年6月当季财报电话会上表示，集团总收入同比增长9%，阿里云外部收入增长45%、调整后EBITA利润率11.6%；AI相关产品年化收入超495亿元人民币，连续12个季度三位数增长，并占阿里云外部收入35%。" AI摘要模型: "ali-deepseek-v4-flash" AI摘要时间: "2026-09-07T02:11:40.174Z" 采集批次: "2026年8月22日13点00分20秒" 采集批次ID: "20260822-130020-912" 去重键: "https://www.alibabacloud.com/blog/aliviews-eddie-wu-on-alibabas-q1-earnings_603490" --- *Alibaba Group on Thursday reported [earnings for the quarter ending June 30 2026](https://www.alizila.com/alibabas-full-stack-ai-accelerates-monetization-with-22-quarter-high-cloud-growth/). Shortly afterward, Alibaba Group's CEO Eddie Wu addressed investors and analysts on an earnings call.* Over the past quarter, Alibaba's strategic AI investments translated into robust results, with total Group revenue growing 9% year-over-year. AI commercialization also accelerated across the board: Alibaba Cloud's external revenue grew 45%, and EBITA increased 133% year-over-year, continuing to deliver on our commitment to accelerate growth. **Revenue from AI-related products has maintained triple-digit growth for the twelfth consecutive quarter, with annual revenue run rate surpassing RMB 49.5 billion (US$7.3 billion), the core engine of Alibaba Cloud’s growth acceleration.** > "AI-related products has maintained triple-digit growth for the twelfth consecutive quarter, with annualized revenue surpassing RMB 49.5 billion, the core engine of Alibaba Cloud's growth acceleration." > – Eddie Wu CEO of Alibaba Group I will now walk you through four key areas: AI and Cloud commercialization, full-stack AI capabilities, AI application ecosystem, and consumption business. **First,** AI and Cloud commercialization accelerated across the board and is expected to sustain high growth going forward. This quarter, Alibaba Cloud's external revenue growth accelerated to 45%, a 22-quarter high, while adjusted EBITA margin reached 11.6%. Notably, this 45% growth was broad-based, driven by compute, storage, model-as-a-service (MaaS), and AI applications. We proactively scaled back low-margin business, continuing to improve the quality of our growth. This quarter, annual revenue run rate from AI-related products exceeded RMB 49.5 billion, and its share of Alibaba Cloud's external revenue rose to 35%. AI-related products generate significantly higher gross margins than the average cloud portfolio. Our recurring AI-related product revenue spans multiple layers: AI compute, MaaS, and AI applications. **This multi-layered mix of AI revenue sources and monetization model means growing customer demand at any layer converts directly into commercial opportunity for us. This structural advantage will underpin sustained, rapid growth in recurring AI-related product revenue going forward.** > "This structural advantage will underpin sustained, rapid growth in recurring AI-related product revenue going forward." > – Eddie Wu CEO of Alibaba Group The surge in AI agents directly drives demand for tokens and GPU compute while also significantly boosting demand for our traditional cloud products across CPU compute, storage, databases, and networking. **Alibaba Cloud is undergoing a comprehensive upgrade to an Agentic Cloud. Based on the latest data, the ARR of our model and application services, including MaaS, has surpassed RMB16 billion.** > "Alibaba Cloud is undergoing a comprehensive upgrade to an Agentic Cloud. Based on the latest data, the ARR of our model and application services, including MaaS, has surpassed RMB16 billion." > – Eddie Wu CEO of Alibaba Group **Based on current market feedback and our contract pipelines, compute demand will continue to outstrip supply. As we continue to ramp up our supply, our AI and Cloud revenue growth will accelerate further in the coming quarters, alongside continued improvement in profitability.** > "Based on current market feedback and our contract pipelines, compute demand will continue to outstrip supply. As we continue to ramp up our supply, our AI and Cloud revenue growth will accelerate further in the coming quarters, alongside continued improvement in profitability." > – Eddie Wu CEO of Alibaba Group **Second,** our full-stack AI capabilities continue to strengthen, marked by the scaled commercialization of proprietary chips, faster model iteration, and a thriving open-source ecosystem. This quarter, deepening synergy between proprietary T-Head chips and proprietary foundation models further improved our AI commercialization efficiency. T-Head has established a full-stack proprietary silicon portfolio, spanning GPU, CPU, and networking chips. As of early August, Zhenwu chips have served more than 650 customers on Alibaba Cloud. The Supernode instance, powered by T-Head’s next-generation Zhenwu M890 AI processor, recently launched on Alibaba Cloud at commercial scale, and **we expect supply to continue ramping up in the second half of the year to meet strong customer demand.**Alibaba Cloud’s Zhenwu M890 Supernode can efficiently run inference workload for foundation models with more than 2 trillion parameters; both Kimi K3 and Qwen3.8-Max are already using it to provide MaaS services to external customers. > "We expect supply to continue ramping up in the second half of the year to meet strong customer demand." > – Eddie Wu Alibaba Group At the data center layer, Alibaba Cloud has cut the delivery time for hyperscale AI data centers (AIDCs) to 100 days, a world leading pace that will significantly speed up our global compute infrastructure buildout. At the model layer, our model release cadence intensified over the past month, with major iterations across our large language, image, audio, video, and music models, all ranking among the world’s top tier. Last week, we opened the model weights of Qwen3.8-Max with 2.4-trillion-parameters, and the Qwen3.8-27B model series. To date, the Qwen model series has been downloaded more than 3 billion times globally, with more than 300,000 derivative models built on it. **We believe a thriving open-source model ecosystem drives greater demand for our cloud computing services, creating a virtuous cycle.** > "We believe a thriving open-source model ecosystem drives greater demand for our cloud computing services, creating a virtuous cycle." > – Eddie Wu CEO of Alibaba Group **Third,** our AI-native applications span both enterprise and consumer use cases, driving rapid growth in token consumption. On the enterprise side, we launched “QwenWork”, a new AI productivity product built for enterprise workforce scenarios, delivering agentic capabilities at scale. We expect productivity agents to become another engine of ARR growth. On the consumer side, Qwen App continued to steadily grow its user base and is expanding the range of its value-added offerings. Through close coordination between Alibaba Token Hub (ATH) and Alibaba Cloud, we are running a highly efficient commercial flywheel across compute, models, tokens, applications, and monetization. **Fourth,** our e-commerce businesses remained solid this quarter. In quick commerce, we continued to narrow losses substantially while growing business scale by 45%, with unit economics improving quarter-over-quarter. Having crossed the AI commercialization inflection point last quarter, we are now seeing growth accelerate and margins expand this quarter. **Our AI business’s own capacity to self-fund and sustain itself is strengthening, giving us greater confidence to keep investing. Looking ahead, AI has become Alibaba’s most certain growth engine. We will stay strategically disciplined and drive long-term growth through our full-stack AI capabilities.** > "Looking ahead, AI has become Alibaba’s most certain growth engine. We will stay strategically disciplined and drive long-term growth through our full-stack AI capabilities." > – Eddie Wu CEO of Alibaba Group --- *This article was originally published on [Alizila](https://www.alizila.com/aliviews-eddie-wu-on-alibabas-q1-earnings/) written by Alizila Staff.*