Wallstreetcn.com reported that after the conclusion of Alibaba's Apsara Conference, Wall Street investment banks including Goldman Sachs, Citi, and UBS released research reports interpreting Alibaba's strategic layout.

The reports highlighted that Alibaba CEO Eddie Wu's goal of expanding total data center power consumption to 20GW by 2032 was considered the most value-additive information, directly triggering a recalculation of the long-term ceiling for cloud revenue. Citi estimates that the 20GW target could correspond to approximately $160 billion in external cloud revenue for fiscal year 2033, while UBS projects external cloud revenue of about $170 billion by 2032.

Investment banks also noted the cost advantages of Alibaba's self-developed chip "T-Head" and that the annualized recurring revenue (ARR) of the Tongyi Qianwen AI MaaS platform had reached RMB 20 billion by the end of August, with a target of RMB 30 billion by year-end. Goldman Sachs, Citi, and UBS all maintained a "Buy" rating on Alibaba, with target prices of $177, $190, and $206, respectively.