Alibaba’s CEO Eddie Wu dismisses AI bubble fears, planning aggressive investment despite Google’s Sundar Pichai warning of “irrationality” and potential dotcom-like crash. Wu cites surging customer demand for AI resources, predicting shortages for three years, with Alibaba’s Qwen app already exceeding 10 million downloads. While Alibaba’s profits dipped due to AI spending, its cloud division saw significant growth, prompting Wu to suggest their AI investment might be underestimated, contrasting with some internal skepticism.
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