$Alibaba(BABA)$ Under Citi's assumptions, external AI cloud revenue could hit $168 billion by fiscal 2033. That works out to roughly 40% compound annual growth from fiscal 2026, with Citi's sensitivity range running from $126 billion to $210 billion.
The tech push seems to be widening too. T-Head has unveiled its Zhenwu V900 accelerator and Lingjun Supernode infrastructure to power AliCloud's production-ready agentic cloud platform.
Alibaba is also expanding its Qwen model family, including the 2.4-trillion-parameter Qwen3.8-Max, while developing smaller models aimed at cheaper real-world deployment and branching into image, audio and world models.
Citi reiterated its Buy rating and $190 price target.
Strong Buy.
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