[Alibaba Wu Yongming: Alibaba AI Annualized Revenue Surpasses 49.5 Billion RMB] Golden Finance reported that on August 20, Alibaba Group (09988.HK) released its financial report for the first quarter of fiscal year 2027. During the analyst conference call, Group CEO Wu Yongming stated that AI has become the core engine driving the accelerated growth of Alibaba Cloud. This quarter, the annualized revenue (ARR) of Alibaba's AI-related products exceeded 49.5 billion RMB ($7.3 billion), accounting for 35% of Alibaba Cloud's external commercialization revenue. The gross profit margin of AI-related products is significantly higher than the average level of cloud products.