According to PANews, Alibaba Chairman Joe Tsai expressed concerns about a potential investment bubble in AI data centers during the HSBC Global Investment Summit in Hong Kong. Tsai highlighted that the current pace of investment is outstripping the actual growth in AI demand. He noted that many projects are being financed and constructed without confirmed clients, particularly in the United States, where tech giants plan to invest hundreds of billions of dollars. Tsai stated, "I start to worry when people build data centers without clear usage agreements."