Alibaba's high-stakes gamble: from selling goods to selling tokens, from burning cash on food delivery wars to making more money, the AI segment is starting to look more like ByteDance's strategic planning. Let's look at the numbers. FY2026 Q3, the group's total revenue was 284.8 billion yuan, up 2% year-on-year. Operating profit plummeted 74% year-on-year, leaving only 10.6 billion. Where did the profit go? Two pits: food delivery and AI, with food delivery being the biggest pit. Now the business is undergoing a full restructuring, shifting focus to stop the bleeding and monetize, betting on Alibaba Cloud for monetization.