Alibaba's Qwen Open Models Drive Cloud Growth, $56B AI Spend pays off
TiernanRayTech · x · 2026-08-21
Alibaba's AI strategy is showing results. Its cloud division is accelerating AI-related sales through the open-weight 'Qwen' model family, yielding surprising financial returns compared to the closed-source approaches of OpenAI and Anthropic. With a planned $56 billion (¥390 billion) spend over three years, Alibaba's investment looks efficient compared to US giants, bolstered by its in-house 'Zhenwu' chips.
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