Alibaba Group Holding’s heavy investments in artificial intelligence have moved beyond the “initial” phase and entered “full-scale commercialisation”, the Chinese e-commerce and cloud computing giant says in a shareholder letter as it doubles down on AI as its next major growth engine.“We expect the addressable market for companies like Alibaba that provide full-stack AI capabilities is poised to grow exponentially,” chairman Joe Tsai and CEO Eddie Wu Yongming said in a joint shareholder letter issued on Wednesday.“Today, we stand at a critical inflection point in the development of artificial general intelligence.”The letter underscored Alibaba’s efforts to position itself as China’s leading full-stack AI provider. Its ecosystem spans the entire AI life cycle, from its proprietary T-Head chips and cloud infrastructure to model-as-a-service platforms and Qwen foundation models. Consumer-facing products include the Qwen app and the Wukong enterprise agentic AI platform.Alibaba owns the South China Morning Post.“What we’re building is China’s AI factory,” said Liu Weiguang, senior vice-president of the cloud computing unit, at Alibaba’s cloud summit in Hangzhou on Wednesday.