Alibaba announced a major org restructure today. A new business group called "Alibaba Token Hub" (ATH) will be led directly by CEO Eddie Wu. It consolidates five units: Tongyi Lab (foundation models), MaaS (model-as-a-service platform), Qwen (consumer AI assistant), Wukong (a previously unknown B2B AI platform), and an AI innovation division. The internal memo frames AI agents as powered by tokens. So Alibaba is reorganizing itself around the token supply chain: create, deliver, apply. That is a strong signal about where the company sees its next growth engine.