According to CoinMeta, Alibaba released its latest financial report, showing that its annual revenue has approached 50 billion RMB, and it is stated that the investment in computing power is expected to pay off within 3 years. In the financial report, Alibaba Cloud and Pingtou Ge are categorized under "Cloud and Computing Power," while Model Lab, Qianwen Consumer Business, and Qwenwork are classified under "Laboratories and Applications." Among them, the revenue from "Cloud and Computing Power" this quarter was 48.437 billion RMB, a year-on-year increase of 45%. The revenue from related products was 12.376 billion RMB, achieving a year-on-year increase in three digits for the 12th consecutive quarter. Alibaba also announced plans to issue 80 billion Hong Kong dollars in new shares, with 100% of the proceeds to be invested in a full-stack AI, covering chips, AI infrastructure, as well as model development and deployment. If this issuance is completed, it will become the largest initial public offering (IPO) in the history of Hong Kong-listed companies.