Alibaba’s home province launches $ 138 billion AI Push to double the industrial output of China by 2027 – Alibaba GR HLDGS (NYSE: Baba)

Alibaba Group Holding Baba And Deepseeks Home Provincie Zhejiang introduced an extensive policy package to accelerate research, industrial growth and talent acquisition.

Large companies in the AI ​​-Supply Chain, including those responsible for large language models, cloud computing and semiconductors, may generate combined operational income from more than 1 trillion Yuan ($ 138.6 billion) by 2027, almost double the current production value of the AI ​​industry of China. reported Official data referred on Wednesday.

The strategy resonated with Beijing’s call for technological self -reliance.

Financial support includes attracting more than 10 billion yuan in risk capital to invest in AI, in particular subsidizing startups.

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The policy will take effect on 31 May and remains valid until 2027.

The Government of Guangdong announced subsidies for the AI ​​and Robotics sectors in April. The city of Shenzhen of the Guangdong is the home of technology companies, including Tencent Holdings Tcehy And Huawei Technologies.

Alibaba is considered the technical barometer of China. The share increased by more than 46% years to date.

Alibaba reported its tax revenue growth of the fourth quarter of 7% from 7% to $ 32.58 billion, which missed the estimate of the analysts of $ 33.08 billion. It clocked a modified income per $ 1.73 advertisements, which defeated the estimate of the analyst consensus of $ 1.48. The turnover of the cloud intelligence group grew by 18% to $ 4.15 billion.

Benchmark Analyst Fawne Jiang continues to regard Alibaba as a leading beneficiary of accelerated AI acceptance in China and a top structural player in the sector.

Price promotion: Baba shares traded lower by 0.75% to $ 124.22 at the last check on Wednesday.

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