Daiwa Securities analyst John Choi said Alibaba could benefit from its AI cloud
business and that losses at its AI lab and apps, and losses across other
segments, may peak this quarter. Daiwa expects QoQ narrowing of AI lab/app
losses as model training and inference efficiency improve and marketing
intensity is reduced. Daiwa maintains a buy rating and raises Alibaba ADR PT to
$185 from $180.