Alibaba projects $4.4B annualized AI revenue by year-end

CEO Eddie Wu said AI model and application services revenue will top 10B yuan ($1.47B) annualized this quarter and reach 30B yuan ($4.4B) by year-end — Alibaba's first concrete AI monetization disclosure. Separately, ex-Qwen lead Junyang Lin is raising at a $2B valuation for a new AI lab.