Alibaba's AI Prowess Drives First Quarter Revenue Growth
(MENAFN) Chinese technology conglomerate Alibaba announced a 7% increase in year-over-year revenue for the first quarter of 2025, with its artificial intelligence sector playing a significant role in this growth.
According to the company's financial report released on Thursday, Alibaba's total revenue reached 236.5 billion yuan ($32.6 billion) during the period.
Fueled by escalating interest in its artificial intelligence offerings, Alibaba's Cloud Intelligence division witnessed notable expansion, with revenues jumping 18% to 30.1 billion yuan ($4.18 billion), the company reported.
Furthermore, Alibaba's net income saw a significant jump, reaching 12.4 billion yuan ($1.7 billion) in the first quarter, marking a 279% increase compared to the same period last year.
"We are confident in our business outlook and will continue to invest in our core businesses to strengthen our competitive advantages. We remain committed to enhancing shareholder returns," stated Alibaba's CFO Toby Xu, reflecting optimism about the company's future.
Recent strategic partnerships highlight Alibaba's growing influence in the AI landscape. In February, American tech giant Apple revealed a collaboration with Alibaba to integrate AI services into iPhones sold within China. Additionally, German automotive manufacturer BMW announced in March its partnership with Alibaba to incorporate AI systems into vehicles sold in China and to develop an engine utilizing Alibaba’s large language model (LLM), Qwen.
In April, Alibaba advanced its artificial intelligence offerings by introducing the newest version of its AI model, "Qwen3." The tech firm stated that in performance evaluations, Qwen3 showed results on par with or better than those of the o1 model from the American AI research lab OpenAI and the R1 model from the Chinese AI enterprise DeepSeek.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
