{"id":88972,"date":"2026-08-28T10:26:35","date_gmt":"2026-08-28T08:26:35","guid":{"rendered":"https:\/\/trader-magazine.com\/?p=88972"},"modified":"2026-09-08T10:28:32","modified_gmt":"2026-09-08T08:28:32","slug":"alibaba-se-plne-vrha-na-umelou-inteligenci-ziskava-102-miliardy-usd-prostrednictvim-novych-akcii-po-75-propadu-zisku","status":"publish","type":"post","link":"https:\/\/trader-magazine.com\/cs\/novinky\/alibaba-se-plne-vrha-na-umelou-inteligenci-ziskava-102-miliardy-usd-prostrednictvim-novych-akcii-po-75-propadu-zisku\/","title":{"rendered":"Alibaba se pln\u011b vrh\u00e1 na um\u011blou inteligenci: z\u00edsk\u00e1v\u00e1 10,2 miliardy USD prost\u0159ednictv\u00edm nov\u00fdch akci\u00ed po 75 % propadu zisku"},"content":{"rendered":"\n

Alibaba se dostala do bodu, kter\u00fd m\u016f\u017ee v\u00fdrazn\u011b ovlivnit jej\u00ed dal\u0161\u00ed sm\u011b\u0159ov\u00e1n\u00ed. \u010c\u00ednsk\u00e1 technologick\u00e1 skupina stoj\u00ed p\u0159ed rozhodnut\u00edm, kter\u00e9 se t\u00fdk\u00e1 jej\u00ed finan\u010dn\u00ed stability, budouc\u00edho r\u016fstu i d\u016fv\u011bry akcion\u00e1\u0159\u016f. Trh na to reagoval okam\u017eit\u011b, ale skute\u010dn\u00fd v\u00fdznam tohoto kroku se uk\u00e1\u017ee a\u017e tehdy, a\u017e bude jasn\u00e9, \u010deho chce Alibaba dos\u00e1hnout a jakou cenu za to budou muset investo\u0159i zaplatit.<\/strong><\/p>\n\n\n\n

Alibaba z\u00edsk\u00e1v\u00e1 10,2 miliardy USD v\u00fdhradn\u011b na AI<\/h2>\n\n\n\n

Alibaba stanovila cenu nov\u00fdch akci\u00ed na 112,70 HKD za kus a investor\u016fm nab\u00eddla celkem 710 milion\u016f nov\u00fdch akci\u00ed. Hrub\u00fd v\u00fdnos by m\u011bl dos\u00e1hnout 80 miliard HKD a po zapo\u010d\u00edt\u00e1n\u00ed transak\u010dn\u00edch n\u00e1klad\u016f p\u0159ibli\u017en\u011b 79,7 miliardy HKD. Nov\u00e9 akcie budou po dokon\u010den\u00ed emise p\u0159edstavovat p\u0159ibli\u017en\u011b 3,57 % roz\u0161\u00ed\u0159en\u00e9ho po\u010dtu akci\u00ed spole\u010dnosti, tak\u017ee st\u00e1vaj\u00edc\u00ed investo\u0159i budou m\u00edt po transakci o n\u011bco men\u0161\u00ed pod\u00edl na cel\u00e9 spole\u010dnosti. Cena emise byla p\u0159ibli\u017en\u011b o 3,6 % ni\u017e\u0161\u00ed ne\u017e referen\u010dn\u00ed cena akci\u00ed a p\u0159ibli\u017en\u011b o 9 % ni\u017e\u0161\u00ed ne\u017e pr\u016fm\u011brn\u00e1 cena odvozen\u00e1 z obchodov\u00e1n\u00ed s americk\u00fdmi depozitn\u00edmi akciemi b\u011bhem p\u0159edchoz\u00edch p\u011bti obchodn\u00edch dn\u016f. Z\u00e1sadn\u00ed je zejm\u00e9na vyu\u017eit\u00ed z\u00edskan\u00fdch prost\u0159edk\u016f. Spole\u010dnost Alibaba uvedla, \u017ee 100 % \u010dist\u00e9ho v\u00fdnosu investuje do sv\u00fdch full-stack AI kapacit a do roz\u0161i\u0159ov\u00e1n\u00ed AI infrastruktury. Jedn\u00e1 se tedy o financov\u00e1n\u00ed, kter\u00e9 nen\u00ed ur\u010deno na obecn\u00e9 firemn\u00ed pot\u0159eby nebo akvizice, ale p\u0159\u00edmo na technologickou transformaci spole\u010dnosti. Jde o nejv\u011bt\u0161\u00ed prim\u00e1rn\u00ed n\u00e1slednou emisi akci\u00ed spole\u010dnosti obchodovan\u00e9 v Hongkongu a jednu z nejv\u011bt\u0161\u00edch podobn\u00fdch transakc\u00ed na sv\u011bt\u011b v roce 2026. <\/p>\n\n\n\n

Obchod s um\u011blou inteligenc\u00ed roste o 45 %, zisk spole\u010dnosti v\u0161ak klesl o t\u0159i \u010dtvrtiny<\/h2>\n\n\n\n

D\u016fvod, pro\u010d je Alibaba ochotna investovat dal\u0161\u00edch v\u00edce ne\u017e 10 miliard USD, je patrn\u00fd z jej\u00edch nejnov\u011bj\u0161\u00edch v\u00fdsledk\u016f. Tr\u017eby skupiny za \u010dtvrtlet\u00ed kon\u010d\u00edc\u00ed 30. \u010dervna vzrostly meziro\u010dn\u011b o 9 % na 268,95 miliardy RMB, co\u017e p\u0159edstavovalo p\u0159ibli\u017en\u011b 39,6 miliardy USD. \u010cist\u00fd zisk v\u0161ak klesl o 75 % na 10,44 miliardy RMB a provozn\u00ed zisk se sn\u00ed\u017eil o 57 % na 15,16 miliardy RMB. V\u00fdznamn\u00fdm d\u016fvodem byly rostouc\u00ed investice do technologi\u00ed. Kapit\u00e1lov\u00e9 v\u00fddaje dos\u00e1hly 67,68 miliardy RMB, p\u0159ibli\u017en\u011b 10 miliard USD, a meziro\u010dn\u011b vzrostly o 75 %. Zcela opa\u010dn\u00fd v\u00fdvoj p\u0159itom zaznamenala divize AI Cloud and Compute Services. Tr\u017eby tohoto segmentu vzrostly o 45 % na 48,44 miliardy RMB a jeho upraven\u00fd EBITA se v\u00edce ne\u017e zdvojn\u00e1sobil na 5,63 miliardy RMB. Samotn\u00e9 tr\u017eby z produkt\u016f souvisej\u00edc\u00edch s AI dos\u00e1hly 12,38 miliardy RMB a spole\u010dnost Alibaba zaznamenala ji\u017e dvan\u00e1ct\u00e9 \u010dtvrtlet\u00ed v \u0159ad\u011b s trojcifern\u00fdm meziro\u010dn\u00edm r\u016fstem v t\u00e9to kategorii. Spole\u010dnost m\u00e1 z\u00e1rove\u0148 za sebou ji\u017e p\u0159ibli\u017en\u011b polovinu sv\u00e9ho rozs\u00e1hl\u00e9ho investi\u010dn\u00edho programu v hodnot\u011b 380 miliard RMB, kter\u00fd je zam\u011b\u0159en na um\u011blou inteligenci a cloudovou infrastrukturu do roku 2029. Alibaba tak v sou\u010dasn\u00e9 dob\u011b ob\u011btuje \u010d\u00e1st sv\u00e9 sou\u010dasn\u00e9 ziskovosti ve prosp\u011bch oblasti, kter\u00e1 roste podstatn\u011b rychleji ne\u017e jej\u00ed tradi\u010dn\u00ed internetov\u00fd obchod. <\/p>\n\n\n\n

Investo\u0159i \u0159e\u0161\u00ed jak z\u0159ed\u011bn\u00ed akci\u00ed, tak n\u00e1vratnost miliardov\u00fdch investic<\/h2>\n\n\n\n

Reakce trhu uk\u00e1zala, \u017ee samotn\u00fd r\u016fst AI byznysu investor\u016fm nesta\u010d\u00ed. Hongkongsk\u00e9 akcie Alibaby po ozn\u00e1men\u00ed emise 24. srpna klesly o 8,3 % na 112,80 HKD a obchodovaly se prakticky na \u00farovni ceny nov\u00fdch akci\u00ed.* Investo\u0159i se soust\u0159edili zejm\u00e9na na \u0159ed\u011bn\u00ed pod\u00edl\u016f a na ot\u00e1zku, pro\u010d spole\u010dnost s p\u0159ibli\u017en\u011b 69,9 miliardami USD v hotovosti a dal\u0161\u00edch likvidn\u00edch investic\u00edch pot\u0159ebuje k financov\u00e1n\u00ed AI vyd\u00e1vat dal\u0161\u00ed akcie. Nov\u00e1 emise zv\u00fd\u0161\u00ed po\u010det vydan\u00fdch akci\u00ed p\u0159ibli\u017en\u011b o 3,6 %, co\u017e znamen\u00e1, \u017ee ka\u017ed\u00fd st\u00e1vaj\u00edc\u00ed akcion\u00e1\u0159 bude po jej\u00edm dokon\u010den\u00ed vlastnit men\u0161\u00ed pod\u00edl ve spole\u010dnosti, pokud sv\u016fj pod\u00edl nezv\u00fd\u0161\u00ed. Na druhou stranu byl z\u00e1jem o emisi velmi siln\u00fd. Nab\u00eddka byla v\u00fdrazn\u011b Nab\u00eddka byla v\u00fdrazn\u011b p\u0159edobjedn\u00e1v\u00e1na a mezi z\u00e1jemci se objevili i velc\u00ed dlouhodob\u00ed investo\u0159i a st\u00e1tn\u00ed investi\u010dn\u00ed fondy. Alibaba tak sice dok\u00e1zala z\u00edskat velk\u00fd objem kapit\u00e1lu, ale z\u00e1rove\u0148 si vytvo\u0159ila jasn\u00fd z\u00e1vazek v\u016f\u010di trhu. Investo\u0159i budou od veden\u00ed o\u010dek\u00e1vat, \u017ee miliardy investovan\u00e9 do v\u00fdpo\u010detn\u00ed kapacity, vlastn\u00edch \u010dip\u016f a model\u016f Qwen p\u0159inesou dostate\u010dn\u00fd r\u016fst tr\u017eeb a ziskovosti, aby kompenzovaly dne\u0161n\u00ed z\u0159ed\u011bn\u00ed akci\u00ed a prudk\u00fd n\u00e1r\u016fst kapit\u00e1lov\u00fdch v\u00fddaj\u016f. [1]<\/p>\n\n\n\n

\"Price<\/figure>\n\n\n\n

<\/em>V\u00fdkonnost akci\u00ed spole\u010dnosti Alibaba za posledn\u00edch p\u011bt let* Zdroj: TradingView<\/em><\/p>\n\n\n\n

Veden\u00ed nakupuje akcie a d\u00e1v\u00e1 najevo d\u016fv\u011bru ve vlastn\u00ed strategii<\/h2>\n\n\n\n

D\u016fle\u017eit\u00fd sign\u00e1l p\u0159i\u0161el kr\u00e1tce po prudk\u00e9 reakci trhu p\u0159\u00edmo od veden\u00ed spole\u010dnosti Alibaba. P\u0159edseda p\u0159edstavenstva Joe Tsai koupil 25. srpna dal\u0161\u00edch 720 tis\u00edc hongkongsk\u00fdch akci\u00ed spole\u010dnosti za p\u0159ibli\u017en\u011b 82 milion\u016f HKD, p\u0159i\u010dem\u017e pr\u016fm\u011brn\u00e1 n\u00e1kupn\u00ed cena dos\u00e1hla 113,47 HKD za akcii. Spolu s n\u00e1kupy gener\u00e1ln\u00edho \u0159editele Eddieho Wu investovali tito dva nejvy\u0161\u0161\u00ed p\u0159edstavitel\u00e9 spole\u010dnosti b\u011bhem dvou dn\u016f do akci\u00ed Alibaby v\u00edce ne\u017e 200 milion\u016f HKD. K n\u00e1kup\u016fm do\u0161lo bezprost\u0159edn\u011b po ozn\u00e1men\u00ed emise v hodnot\u011b 80 miliard HKD a po poklesu ceny akci\u00ed, co\u017e zvy\u0161uje jejich v\u00fdznam pro investory sleduj\u00edc\u00ed d\u016fv\u011bru veden\u00ed ve vlastn\u00ed strategii. Alibaba z\u00e1rove\u0148 pokra\u010duje ve v\u00fdvoji vlastn\u00edch \u010dip\u016f T-Head, roz\u0161i\u0159uje kapacitu cloudu a vyv\u00edj\u00ed modely \u0159ady Qwen, p\u0159i\u010dem\u017e jej\u00ed nejnov\u011bj\u0161\u00ed procesor Zhenwu M890 ji\u017e podle spole\u010dnosti vyu\u017e\u00edv\u00e1 v\u00edce ne\u017e 650 extern\u00edch z\u00e1kazn\u00edk\u016f ve v\u00edce ne\u017e 20 odv\u011btv\u00edch. V\u00fdsledek t\u00e9to strategie bude rozhoduj\u00edc\u00ed pro dal\u0161\u00ed sm\u011b\u0159ov\u00e1n\u00ed spole\u010dnosti. Alibaba ji\u017e nen\u00ed pouze dominantn\u00edm \u010d\u00ednsk\u00fdm hr\u00e1\u010dem v oblasti e-commerce, proto\u017ee st\u00e1le v\u011bt\u0161\u00ed \u010d\u00e1st kapit\u00e1lu, r\u016fstu a pozornosti veden\u00ed p\u0159esouv\u00e1 sm\u011brem k infrastruktu\u0159e um\u011bl\u00e9 inteligence a cloudov\u00fdm slu\u017eb\u00e1m. Pokud se j\u00ed poda\u0159\u00ed siln\u00fd r\u016fst t\u011bchto segment\u016f prom\u011bnit ve v\u00fdrazn\u011bj\u0161\u00ed zisky, m\u016f\u017ee dne\u0161n\u00ed emise podpo\u0159it dal\u0161\u00ed f\u00e1zi r\u016fstu firmy. Pokud v\u0161ak n\u00e1vratnost investic z\u016fstane slab\u00e1, tlak na zisky a \u0159ed\u011bn\u00ed pod\u00edlu akcion\u00e1\u0159\u016f se mohou st\u00e1t hlavn\u00edm probl\u00e9mem cel\u00e9 strategie. [2]<\/p>\n\n\n\n

Peter Svore\u0148, CEO\u00a0<\/strong>ApmeFX Trading Europe Ltd.<\/strong><\/a><\/p>\n\n\n\n

[1,2] V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed vych\u00e1zej\u00ed z p\u0159edpoklad\u016f a sou\u010dasn\u00fdch o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 mohou b\u00fdt nep\u0159esn\u00e1, nebo ze sou\u010dasn\u00e9ho ekonomick\u00e9ho prost\u0159ed\u00ed, kter\u00e9 se m\u016f\u017ee zm\u011bnit. Takov\u00e1 prohl\u00e1\u0161en\u00ed nezaru\u010duj\u00ed budouc\u00ed v\u00fdsledky. Jsou spojena s riziky a dal\u0161\u00edmi nejistotami, kter\u00e9 je obt\u00ed\u017en\u00e9 p\u0159edv\u00eddat. V\u00fdsledky se mohou podstatn\u011b li\u0161it od t\u011bch, kter\u00e9 jsou vyj\u00e1d\u0159eny nebo implikov\u00e1ny v jak\u00fdchkoli v\u00fdhledov\u00fdch prohl\u00e1\u0161en\u00edch.<\/p>\n\n\n\n

* Minul\u00e1 v\u00fdkonnost nen\u00ed z\u00e1rukou budouc\u00edch v\u00fdsledk\u016f.<\/p>\n\n\n\n

Zdroje:<\/p>\n\n\n\n

https:\/\/www.reuters.com\/business\/retail-consumer\/alibaba-set-open-down-8-hong-kong-after-102-billion-share-placement-plan-2026-08-24<\/a><\/p>\n\n\n\n

https:\/\/data.alibabagroup.com\/ir_filings\/HKEX\/09988\/en\/202608242026082400003\/2026082400003.pdf<\/a><\/p>\n\n\n\n

https:\/\/www.reuters.com\/business\/retail-consumer\/alibaba-chair-buys-another-720000-company-hk-shares-2026-08-25<\/a><\/p>\n\n\n\n

https:\/\/www.alibabagroup.com\/zh-HK\/document-2028384807859257344<\/a><\/p>\n\n\n\n

https:\/\/www.reuters.com\/business\/retail-consumer\/alibaba-beats-quarterly-revenue-estimates-2026-08-20<\/a><\/p>\n\n\n\n

https:\/\/www.alibabagroup.com\/en-US\/document-2027233133950140416<\/a><\/p>\n\n\n\n

https:\/\/data.alibabagroup.com\/ecms-files\/1532295521\/fa5d65fc-9b3e-4e82-a8fc-4ce1c3e2c407\/Alibaba%20Group%20Announces%20June%20Quarter%202026%20Results.pdf<\/a><\/p>\n\n\n\n

* Jedn\u00e1 se placenou spolupr\u00e1ci<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Alibaba se dostala do bodu, kter\u00fd m\u016f\u017ee v\u00fdrazn\u011b ovlivnit jej\u00ed dal\u0161\u00ed sm\u011b\u0159ov\u00e1n\u00ed. \u010c\u00ednsk\u00e1 technologick\u00e1 skupina stoj\u00ed p\u0159ed rozhodnut\u00edm, kter\u00e9 se t\u00fdk\u00e1 jej\u00ed finan\u010dn\u00ed stability, budouc\u00edho r\u016fstu i d\u016fv\u011bry akcion\u00e1\u0159\u016f. Trh na to reagoval okam\u017eit\u011b, ale skute\u010dn\u00fd v\u00fdznam tohoto kroku se uk\u00e1\u017ee a\u017e tehdy, a\u017e bude jasn\u00e9, \u010deho chce Alibaba dos\u00e1hnout a jakou cenu za to […]<\/p>\n","protected":false},"author":44,"featured_media":88981,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[248],"tags":[5529,385,4940],"class_list":["post-88972","post","type-post","status-publish","format-standard","has-post-thumbnail","category-novinky","tag-alibaba","tag-cina","tag-ekonomika"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t