This transaction underscores our confidence in our business outlook," Xu said. Revenue from the cloud computing division, a growth engine for the company, increased 6 percent to 26.5 billion renminbi, or $3.63 billion. "The cloud business achieved positive revenue growth momentum, driven by public cloud and AI-related product adoption, as we continue to invest to maintain our market leadership," said Eddie Wu, Alibaba's chief executive officer. During the Paris Olympics, Alibaba became an official broadcasting partner and released an AI-powered cloud service to enhance viewer experience. Alibaba also showcased "the future of shopping" with virtual try-ons, avatars and an IRL runway in a four-room pavilion on the Avenue des Champs-Élysées. The sleek, open-air pavilion showcased how the technology can be used in the beauty and fashion categories, all powered by Alibaba's proprietary Qwen LLM.