en.Wedoany.com Reported - China's Alibaba Group held its FY2026 Q4 earnings analyst conference call on May 13, 2026. Group CEO Wu Yongming disclosed for the first time the annualized recurring revenue (ARR) data for AI model and application services, projecting that this ARR will exceed RMB 10 billion in the June quarter and surpass RMB 30 billion by year-end. Wu Yongming pointed out that this revenue stream, centered on the Bailian MaaS platform, is gradually demonstrating high-margin advantages and will become a healthy, high-quality growth pillar for Alibaba's future revenue.
Wu Yongming broke down the revenue structure during the call: the vast majority comes from API services on the Bailian MaaS platform, with the remainder being subscription revenue from AI-native software. As a Model-as-a-Service platform, Bailian's commercialization is accelerating rapidly, with its customer count growing 8 times year-on-year. The Tongyi Qianwen model series has already served over 1 million customers. Alibaba Cloud's AI-related product revenue has achieved triple-digit growth for 11 consecutive quarters, with AI-related product revenue accounting for 30% of Alibaba Cloud's external commercialization revenue this quarter. Wu Yongming also mentioned that API Token demand on the Bailian platform in May and June has grown more than tenfold compared to November and December last year. To address the surge in enterprise-level AI demand, Alibaba has specifically established the Alibaba Token Hub business group, elevating the strategic priority of MaaS. He stated bluntly that the gross margin of the MaaS business is higher than that of traditional SaaS and is currently in a state of demand exceeding supply.
Financial report data simultaneously showed that in Q1 2026, Alibaba Cloud's revenue grew 38% year-on-year to RMB 41.626 billion, with external commercialization revenue growing 40%. During the same period, AI-related product revenue reached RMB 8.971 billion. Wu Yongming expects that within the next year, the proportion of AI-related product revenue will exceed 50%, becoming the main engine for Alibaba Cloud's revenue growth. Regarding computing power reserves, he revealed that Alibaba's servers have "not a single idle card," and capital expenditure for this quarter will exceed RMB 380 billion.
Layout at the application layer is advancing simultaneously. On the B-end, products such as intelligent office suites and AI Coding have been launched. On the C-end, the Tongyi Qianwen App has integrated the e-commerce service capabilities of Taobao and Tmall, forming a full-stack closed loop from chips and models to cloud applications. Alibaba's self-developed chips have cumulatively delivered 470,000 units, providing an independently controllable computing power foundation for model training and inference.
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