Alibaba Group, the parent company of AliExpress, has announced plans to ramp up investments in artificial intelligence (AI) and cloud computing following a significant financial upturn. The Chinese e-commerce giant reported a **333% surge in net income** to **$6.36 billion** for the quarter ending December 31, 2024.
The company’s total revenue rose **8%** to **$38.4 billion**, driven by steady e-commerce growth and improved operational efficiencies. Operating income also climbed **83%** to **$5.65 billion**, bolstered by lower impairment charges on intangible assets and higher profitability.
**Strategic Focus on AI and Cloud Growth**
Alibaba Group’s CEO, **Eddie Wu**, highlighted the company’s continued focus on AI-driven strategies and enhancing user experience.
“Our cloud revenue growth reignited to double digits at **13%**, with AI-related product revenue achieving **triple-digit growth** for the sixth consecutive quarter. Looking ahead, revenue growth at Cloud Intelligence Group will continue to accelerate,” Wu stated.
He also noted that **Taobao and Tmall Group’s** customer management revenue grew **9%**, reflecting improved monetization strategies.
**Financial Discipline and Strategic Investments**
Alibaba’s **Chief Financial Officer, Toby Xu**, emphasized that despite substantial investments to accelerate core business growth, the company maintained financial discipline.
“During the quarter, we continued to actively manage our balance sheet with significant **non-core asset sales, share buybacks, and extending our debt maturities at attractive rates**,” Xu said.
The company’s renewed focus on **AI, cloud computing, and e-commerce expansion** underscores its commitment to long-term growth in an increasingly digital marketplace.
