Citigroup: Alibaba listed as the top choice stock for AI investment in China, with a target price of HKD 204 for Hong Kong stocks According to a report by Golden Finance on May 12th, Citigroup released a research report stating that Alibaba Cloud, a subsidiary of Alibaba, has the ability to vertically integrate artificial intelligence full stack capabilities from chip branch Pingtou Ge, Infrastructure as a Service (IaaS), Platform as a Service (PaaS) to Model as a Service (MaaS). In addition, its General Language Model (LLM) and Model Scope platform continue to improve, and the company is expected to occupy a favorable position in the rapidly growing token economy, making it the preferred stock for artificial intelligence investment in China. Citigroup reiterates its "buy" rating on Alibaba, with a target price of HKD 204 for the Hong Kong stock and USD 205 for the ADR. It believes that the company's continuously improving AI full stack capabilities can bring cost synergies and profit expansion space. The bank expects that Alibaba Cloud's artificial intelligence related revenue will achieve a compound annual growth rate of 90% from fiscal year 2026 to 2031, and will account for 70% of the total cloud business revenue by fiscal year 2031.