


Alibaba stated that changes in the company’s leadership personnel will not have an impact on Alibaba Cloud’s spin-off and listing plan
On Wednesday (September 13), a number of companies and institutions, including OPPO, Taobao, DingTalk and Zhejiang University, reached an agreement to use Alibaba’s (BABA) “Tongyi Qianwen” artificial intelligence model for training Own large language model or develop applications. In addition, Alibaba also stated that it will make its large-scale language model public in the "near future" for free commercial use by "the whole society."
Alibaba joins the ranks of companies such as U.S. tech giant Meta Platforms (META) that have made their artificial intelligence models available to the public, and has entered one of the most talked about areas in the technology industry right now - artificial intelligence. The move was also welcomed by Chinese regulators
Alibaba’s development in the field of artificial intelligence will help enhance the strength of China’s technology industry. If used properly, “Tongyi Qianwen” is expected to drive wider innovation.
The Chinese government’s approval of the release of “Tongyi Qianwen” not only marks the end of the period of the strongest regulatory headwinds faced by Alibaba and other technology companies, but also demonstrates the government’s support for the company’s artificial intelligence business. While Alibaba's core business is e-commerce, its cloud business (which oversees artificial intelligence development) has been a key source of growth in recent years.
Earlier this year, Alibaba announced an important business spin-off plan. Direct investment in the company's cloud computing and artificial intelligence business is very attractive to investors. If it is spun off and listed, Alibaba Cloud A higher valuation may be achieved.
Alibaba announced a plan in May to spin off its cloud business by distributing dividends to shareholders, hoping to turn Alibaba Cloud into an independently listed group. However, there was very little news about Alibaba Cloud's listing subsequently. At the same time, China's sluggish economic growth has stoked market concerns, putting Alibaba's stock price under pressure in recent weeks
Some analysts believe that Alibaba Cloud's spin-off plan may have lost momentum. China's economic slowdown and capital market pressure indicate that now is not a good time for high-growth technology companies to go public.
In addition, the recent news that Zhang Yong announced his resignation as chairman and CEO of Alibaba Cloud has also added some uncertainty to the spin-off plan
Citi analyst Alicia Yap pointed out in a research report on Monday that this unexpected personnel change will put pressure on Alibaba’s stock price in the short term. "Investors may be worried that the timing and process of the spin-off and listing of the cloud business will be affected," Ye said. Ye maintained a "buy" rating on Alibaba stock with a target price of $151.
Goldman Sachs analyst Ronald Keung said in a research report: "The change in cloud business leadership may surprise the market, but we are confident that Alibaba leadership will focus on the business. With a positive view on consistency, investors will pay attention to further clarifications and clarifications from the new management team." Jiang rates Alibaba's stock a "buy"
Alibaba stated that the leadership changes will not affect the plan to spin off Alibaba Cloud and artificial intelligence business, nor will it change the group's emphasis on artificial intelligence business
Although Alibaba’s statements so far do not provide the clearer information that investors hope to obtain, such a statement may be clear enough for Alibaba, which rarely issues forward-looking statements.
At the same time, investors will continue to wait for Alibaba Cloud to go public.
Rewritten content as: "Barron's"
The content that needs to be rewritten is: Editor | Guo Liqun
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