Alibaba Group released its fiscal year 2024 annual report on May 23rd, according to Jin10 Data. In the first joint letter to shareholders, Joe Tsai and Daniel Zhang expressed that Alibaba will continue to invest in two major areas: accelerating the growth of core businesses and maintaining leadership in foundational technologies, including AI. The letter stated that as a technology pioneer, Alibaba hopes to explore the broad prospects of Artificial General Intelligence (AGI) and will continue to invest in pushing the limits of machine intelligence. As a cloud computing provider, Alibaba aims to meet the demand for computing power brought by the explosion of large models, bringing direct positive growth to cloud computing. As Alibaba has rich application scenarios, the company hopes to achieve transformation and innovation through AI, and is excited about the infinite possibilities of the 'customer-first' strategy driven by AI.