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8 R40 articles on Alibaba Group Holding Limited (BABA). Latest, Sep 22, 2026: Alibaba Wants 20 Gigawatts by 2032. Six Years of Capex Just Covers the Buildings.
R40 Coverage
Alibaba Wants 20 Gigawatts by 2032. Six Years of Capex Just Covers the Buildings.
Alibaba targets 20GW of capacity by 2032 with no money attached. Its capex run rate to 2032 is $12.5m a megawatt; shell and core alone costs $11.3m.
Alibaba's 1.6-Cent Cache Hit Is a Tenth of Input. So Are OpenAI's and Google's. Only Google Charges Rent.
Qwen3.8-Flash reads a cached token for $0.016, a tenth of input. OpenAI, Google and Anthropic all charge a tenth too. Only Google bills rent by the hour.
Alibaba Raised 1.4 Years of Its AI Revenue, Not Two. Neither Named Use of the Money Is the Model.
Alibaba's $10.2bn placement is 1.40x its AI product run rate, not the 1.93x a May figure gives, and both itemised uses of the proceeds are infrastructure.
Alibaba Called Its Placement a 3.6% Discount. Hong Kong Priced It at 8.37%.
Alibaba priced 710M new shares at HK$112.70 — 3.6% below an ADR reference but 8.37% below Friday's Hong Kong close — and the stock fell through the issue price.
Alibaba Is Selling 710 Million New Shares to Fund AI. Is Baidu Next?
Alibaba's 710M-share Hong Kong placement raises about $10.2B for AI — enough for 102% of one quarter's capex. Baidu runs the same race at a sixth of the scale.
Alibaba Cloud Grew 45% as Free Cash Flow Fell to −$6.6B and Revenue Missed Our Range.
Alibaba Cloud grew 45%, but capex rose 75% to 2.5x adjusted EBITA and free cash flow hit −$6.58B. The new AI segment lost RMB 13.9B on RMB 3.3B of revenue.
Alibaba Burned $6.6B on AI and Retail. This Quarter Can Show Whether Either Is Paying.
Alibaba burned $6.6B funding AI datacentres and instant-commerce subsidies at once. The June quarter is graded on four numbers management put on record in May.
Alibaba Joins Coverage With a Rule of 40 of About One
Alibaba joins coverage with $145.4B of trailing revenue growing 5% and free cash flow of negative $6.6B — a $16.8B swing, three days before the June print.