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Alibaba Cloud CEO Zhang Yong: The Demand for AI Cloud Services is Very Strong, Incremental Opportunities are Just Beginning to be Released
Published in Latest AI News
Time :Aug 11, 2023
Read :1minute
Alibaba Group released its first quarter financial report for the fiscal year 2024, showing a 14% increase in total revenue to 234.16 billion yuan. The revenue of Taobao and Tmall, two major retail platforms under Alibaba, also grew by 12% year-on-year. Alibaba Cloud's revenue for this quarter reached 25.123 billion yuan, a 4% increase. Zhang Yong, CEO of Alibaba Cloud, stated that the demand for AI cloud services is very strong, but due to a short-term shortage of GPU supplies, the potential for growth opportunities has just begun to be realized.