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Alibaba Shares Rally on Bullish Cloud Computing Outlook and AI Demand
Alibaba Shares Rally on Bullish Cloud Computing Outlook and AI Demand
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BTCCSquare news:
Alibaba Group Holding Ltd. (BABA) shares surged as much as 5.5% following optimistic analyst upgrades tied to its cloud computing division. The rally comes after the company raised its three-year cloud spending forecast beyond $53 billion, signaling aggressive expansion in AI infrastructure.
Morgan Stanley lifted its price target to $200, projecting cloud revenue growth accelerating to 32% in fiscal 2026 and 40% in 2027. Jefferies was even more bullish, setting a $230 target citing "remarkable" progress in AI development, including its Qwen model series and software agents. Generative AI adoption is driving exponential demand, with AI token volume doubling every 2-3 months according to analysts.
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