Alibaba CEO Announces Five-Year Target: Cloud and AI External Revenue to Exceed $100 Billion, Current Quarter Earnings Miss Expectations as Stock Price Drops 7% Intraday

GateNews

2026-03-20 06:01:53

Gate News: On March 20, Alibaba CEO Daniel Zhang announced that the company plans to achieve a combined external revenue of over $100 billion from cloud computing and AI within the next five years. Meanwhile, Alibaba’s quarterly financial report fell short of market expectations, with December quarter revenue below expectations and profits dropping 66% year-over-year. Following the announcement, its New York-listed stock price temporarily plunged by 7% during trading.

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