When AI assistants are no longer just for chatting, but can actually order bubble tea, book flights, and buy clothes, the commercialization tipping point of artificial intelligence has already arrived. Recently, the Tongyi Qianwen App under Alibaba has made a significant leap: it has fully integrated with Taobao, Alipay, and Taobao Flash Sales, launching the world's first AI assistant capable of performing real shopping tasks. Users only need to naturally say "buy me a spring coat" or "book two tickets for a weekend trip to Chengdu," and the system will automatically complete product selection, price comparison, ordering, and payment, without needing to switch apps. This marks the official upgrade of AI from an "information provider" to a "task executor," and also means that Alibaba's years of accumulated e-commerce, payment, and local life service capabilities are being seamlessly integrated through AI.

At the same time, global capital's view on AI is undergoing drastic changes. Owl Capital suddenly canceled its planned $1 billion investment in Oracle, citing the reason as its AI business being "over-leveraged." As of the latest financial report, Oracle's net debt reached $105 billion, raising doubts about whether it can continue to invest in the cloud and AI competition. This move sends a strong signal: investors are no longer blindly chasing "AI concepts," but focusing on real cash flow, technical implementation efficiency, and financial health.

In China, capital is accelerating towards AI companies with solid technology and clear scenarios. The embodied intelligence company Ziliang Robot recently completed a 1 billion yuan Series A++ round of financing, led by ByteDance, Sequoia China, and Shenzhen Investment & Development Corporation. Particularly rare is that the company has become the only one currently receiving strategic investments from three major internet giants - Alibaba, Meituan, and ByteDance - in the field of embodied intelligence, highlighting its collaborative potential in scenarios such as logistics, delivery, and service robots. Embodied intelligence - AI systems with physical bodies that can interact with the environment - is moving from laboratories to factories, warehouses, and streets.

The transformation in the industrial sector is equally profound. Fast fashion giant SHEIN has digitized traditional clothing factories, pushing its flexible supply chain capabilities to the extreme: daily output per factory has significantly increased, and the sampling cycle has been shortened by 70%, driving the entire Pearl River Delta clothing industry cluster to upgrade to a "small orders, fast response" model. AI and IoT technologies play a key role in this process, achieving full-chain intelligence from demand forecasting to production scheduling.

In the capital market, MiniMax's Hong Kong stock listing surged 109% on the first day, with a market value exceeding 100 billion Hong Kong dollars, which seems prosperous, but hides underlying concerns. Although its B-end large model services have achieved high gross profit margins through high customization, the paid conversion rate of its C-end products for consumers continues to be low, exposing the common dilemma of general AI applications: "well-received but not widely adopted." The market is voting with its feet: AI that makes money is worth more than AI that just talks.

From the shopping loop of the Qianwen App to the physical implementation of Ziliang Robots; from SHEIN's factory revolution to MiniMax's commercial challenges - in 2026, the Chinese AI industry has moved away from pure technological fantasy and entered the "practical verification period." Only those who can create value, control costs, and win the support of users' real money in real scenarios can survive in this elimination race.