Ali Wu Yongming: The price of the model is expected to rise in the future.

During the Q4 analyst conference call for the 2026 fiscal year, Alibaba CEO Wu Yong Ming mentioned that this quarter's free cash flow is negative, stemming from investments in AI over the past year. The company will continue to invest strongly in the next two years, as this is a critical window for Alibaba. The return on investment in AI is very certain, and currently, there is not a single empty server as customer demand cannot be fully met and there is a long queue. The prices of models are expected to rise in the future.