Alibaba token demand reportedly up ~500%, but revenue math is far messier
menhguin · x · 2026-09-20
Caveats on the reported 500% surge in Alibaba Cloud token demand: Vercel Gateway records by model family not provider (so growth is dampened by second-party APIs); token demand is only 35% of cloud revenue, cloud is 18% of Alibaba's overall revenue, and Alibaba isn't the sole cloud provider. So it's not a 500% earnings increase — but as revenue composition inflects, it could still drive multiple expansion.
More from Venture
- Dev tests showing paywall twice: statistical significance within days, final data in a week — jdluk87 · 2026-09-20
- Banks Reportedly Halting All Compute Lending as AI Credit Crunch Begins — AccBalanced · 2026-09-20
- Founder Documents 0 to 250K SaaS Users Without Ads in New Growth Ebook — _jaydeepkarale · 2026-09-20
- Gary Marcus mocks Anthropic: how does a 10% extinction chance factor into its valuation? — GaryMarcus · 2026-09-20
- Rhodium: OpenAI+Anthropic hit ~$105B combined ARR vs ~$10.7B for all of China's AI labs — r0ck3t23 · 2026-09-20
- Anthropic's share of enterprise AI spend drops from 75% to 42% — burny_tech · 2026-09-20