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~¥380B (~$53B) AI/compute buildout commitment + the Zhenwu M890 in-house chip program; FY2026 actual capex ¥126,063M is right on the 3-yr buildout's implied ¥126.7B/yr pace

med confidence · as of 2026-07-28 · about Alibaba

Sourced figures 3

The Register via kestrel china-stack thread ~¥380B (~$53B) AI/compute buildout + Zhenwu M890
2026-05 med
Google News RSS aggregation (Network World / Express Tribune / Futu headlines) ¥380B/$52-53B AI+cloud infra investment explicitly confirmed as a THREE-YEAR plan (FY2026-FY2028, announced Feb 2025)
2026-07 med
stockanalysis.com — BABA cash flow statement FY2026 (ended Mar 2026) capex ¥126,063M; D&A ¥47,118M
2026-03 high

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