[Alibaba Group CEO Wu Yongming: AI Infrastructure Investment Reaches 190 Billion, CapEx Expected to Break Even Within Three Years] According to a report by Jinse Finance, as cited by the 'Sci-Tech Innovation Board Daily' on the 20th, during an analyst conference call discussing future capital expenditure plans, Alibaba Group CEO Wu Yongming stated that the company announced a three-year investment plan of 380 billion yuan in February last year. By the end of the June quarter, a total of 190 billion yuan had already been invested, progressing as expected. Due to the cyclical nature of hardware deliveries, investments are not evenly distributed across quarters, with fluctuations primarily driven by equipment delivery schedules and rising chip component prices. From the data, based on the current average gross margin levels of AI products, capital expenditures (CapEx) are expected to break even within three years. If the gross margin levels of AI products continue to improve, this payback period could be further shortened in the future.