Alibaba’s story is changing.
— KraneShares (@KraneShares) January 21, 2026
Cloud revenue grew 26% YoY, far faster than its core commerce business, signaling a shift from consumer platforms to AI-driven digital infrastructure.
That transition could matter more for valuation than many realize. pic.twitter.com/o13iZDnjCB
Enterprise AI workloads are stickier, higher value, and more recurring than traditional hosting.
— KraneShares (@KraneShares) January 20, 2026
As Alibaba Cloud scales, margins are beginning to improve, suggesting the business may be moving from heavy investment toward monetization. pic.twitter.com/htuCDik31w
China Last Night powered by KraneShares is a daily note produced by KraneShares research team led by Chief Investment Officer Brendan Ahern. This daily recap provides insight on what drove China’s equity, fixed income, and currency markets performance last night. Analysis includes local broker insights, policy, trade, public company announcements, and sector performance.
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