Alibaba no longer promotes the split of Aliyun, and Ma Xiansheng's initial public offering plan has been suspended.

CTOnews.com November 16 news, Alibaba Group financial disclosure, in view of many uncertain factors, no longer promote the complete spin-off of Cloud Intelligence Group. At the same time, Alibaba will resolutely increase his continuous strategic investment in Aliyun to ensure that Aliyun focuses on the "AI + cloud computing" development strategy and build leading cloud computing services in the AI era.

CTOnews.com noted that Ali's financial report showed that "the recent expansion of US restrictions on the export of advanced computing chips has brought uncertainty to the future of Cloud Intelligence Group." We believe that the complete spin-off of the Cloud Intelligence Group may not increase shareholder value as originally envisaged, so we have decided not to promote the complete spin-off of the Cloud Intelligence Group, but will face an uncertain environment and focus on building a model for sustainable growth of the Cloud Intelligence Group. "

Ali said that in the face of the AI era, Ali Yun needs long-term strategic investment more than ever. Alibaba will resolutely increase the intensity of investment in Aliyun, let Ali Yun focus on the "AI + cloud computing" development strategy, and minimize the adverse impact of uncertainties on future development.

In addition, Alibaba also said that Hema Xiansheng's initial public offering plan has been suspended and is evaluating the market situation.

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Alibaba's revenue in the second quarter of fiscal 2024 was 224.79 billion yuan, compared with 207.18 billion yuan in the same period last year.