The analysis suggests that Amazon's AI advantage lies in its globally leading cloud infrastructure (AWS), aiming to empower the broader AI economy and monetize AI across multiple business lines such as advertising, logistics, and product recommendations, thus offering a relatively "safer" AI investment story. In contrast, Alibaba focuses on cloud services in the Chinese market (Alibaba Cloud) and AI tools for enterprises and merchants (such as the Tongyi Qianwen large model). Its valuation (1.9x P/S, lower than Amazon's 3.4x) reflects market doubts but also provides a "more asymmetric" investment opportunity. Both face challenges: Amazon needs to contend with capital expenditures and competition, while Alibaba is affected by China's economy, regulations, and geopolitical factors.