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<Research>Citi Envisions Alibaba (BABA.US) Can Fully Capitalize on Spike in Demand for Cloud Computing Services in Coming Yrs
Recommend 37 Positive 63 Negative 21 |
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BABA-W (09988.HK) announced a plan to splash at least RMB380 billion (USD53 billion) over the next three years in cloud computing and AI infrastructure, furthering its commitment to long-term technology innovation, underscoring the company's focus on AI-driven growth and its positioning as the world's leading cloud computing provider. Citi said in a research note that it believed Alibaba will be able to capitalize on the spike in demand for cloud computing services in the next few years, and that the RMB380 billion in expenditure was higher than its original forecast, which was for a total of about RMB350 billion from 4QFY25 to FY2028. The broker set a USD170 target price on Alibaba's U.S. shares and gave it a Buy rating. AAStocks Financial News |
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