Picks and Shovels in China's AI Gold Rush Alibaba plans to expand its global data center capacity to over 20 gigawatts by 2032. Management has pointed to a $

Picks and Shovels in China's AI Gold Rush Alibaba plans to expand its global data center capacity to over 20 gigawatts by 2032. Management has pointed to a $100 billion AI and cloud revenue target over five years , signaling that chips are a means to an end: locking customers into Alibaba's cloud…