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Alibaba's revenue increased by 8% year-over-year to $38.4 billion, surpassing expectations by $130 million, marking its fastest growth since 2023. The company's cloud revenue growth picked up pace, rising 13% year-over-year (compared to 7% in the previous quarter), driven by six consecutive quarters of strong AI growth. Alibaba is heavily investing in AI, with CEO Eddie Wu stating that Artificial General Intelligence (AGI) is the company's "primary objective."

E-commerce also saw a recovery, with Taobao and Tmall revenue growing by 5%, including a 9% increase in customer management revenue, indicating stronger monetization. International commerce experienced a 32% jump, led by AliExpress and Trendyol.

Alibaba’s renewed focus on AI and infrastructure, along with a partnership with Apple to integrate its AI into iPhones in China, has contributed to a $100 billion rise in market capitalization in 2025. Despite intense competition from PDD and ByteDance, Alibaba’s strategy is proving successful.