Alibaba Invests in Yuanxin Satellite; Qianfan Constellation Valued at ~$7B

Alibaba's entry into the low-Earth orbit satellite sector marks a strategic bet by internet giants on aerospace information infrastructure. As the Qianfan constellation approaches a critical commercialization phase, substantial funding and endorsement from industry leaders will accelerate its transition from technical validation to global service provision. This move not only strengthens the capital depth of China's satellite internet sector but also signals that the construction of integrated space-ground networks is entering deep waters driven by diverse market entities rather than solely state-led initiatives.