# “We expect the addressable market for companies like Alibaba that provide full-stack AI capabilities is poised to grow exponentially,” chairman Joe Tsai and CEO Eddie Wu Yongming said in a joint shareholder letter.

*genai · news · 2026-05-21 · South China Morning Post*

## Key points

- Alibaba executives announced the company's transition to becoming 'China’s AI factory' at their Hangzhou summit.
- Alibaba leadership forecasts exponential growth in the full-stack AI addressable market.
- Alibaba’s shareholder letter frames the current moment as a critical inflection point for AGI development.
- Alibaba owns the South China Morning Post, revealing deeper integration between media and tech operations.

**Companies:** Alibaba
**Countries:** China

[Read the full story on South China Morning Post](https://www.scmp.com/tech/big-tech/article/3354324/alibaba-signals-next-phase-ai-growth-investment-commercialisation)

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