Alibaba Shares as Apsara Conference Kicks Off

The Apsara Conference 2025 of Alibaba Cloud will be held in Hangzhou, China from September 24 to 26, 2025.

Alibaba shares jumped about 4% in Hong Kong and U.S. overnight trading.

On September 24, at the 2025 Apsara Conference, Wu Yongming, chairman and CEO of Alibaba Group, said that AGI is an intelligent system with human-like public cognitive ability, and it has become a real world in the industry's view. But Wu pointed out that AGI is not the end point of development, but a new starting point. AI will not stop at AGI, and it will move towards the super artificial intelligence industry that surpasses human intelligence and can self-iterate and evolve, which is called ASI super artificial intelligence.

Wu said that we know that the goal of AGI is to free humans from 80% of daily work, allowing us to focus on innovation and exploration. And ASI will be a system that comprehensively surpasses human intelligence, and is likely to create a group of super scientists and potential senior engineers. ASI will solve the scientific and engineering problems that are not solved now in ideas that we can't imagine, such as overcoming medical problems, inventing new materials, solving sustainable energy and climate problems, and even responding to future risks.

Alibaba's Eddie Wu said capital expenditure will see additional investments on top of The 380 billion yuan base.

Alibaba is actively promoting the construction of 380 billion AI infrastructure and plans to invest more. In order to welcome the arrival of the ASI era, compared with 2022, the first year of GenAI, the energy consumption scale of Alibaba Cloud's global data centers in 2032 will increase by 10 times. This means that the investment in Alibaba Cloud's computing power will increase exponentially.