In Q3'26, Alibaba's operating expenses reached a total of 95.77B USD, with SG&A Expenses dominating at 80.29B USD, reflecting a significant 10.3% increase from the prior quarter's 86.8B USD total. R&D Expenses contributed 15.48B USD, up modestly by 9.4% quarter-over-quarter, underscoring ongoing investments in innovation amid rising administrative costs. Over the period from Q4'23 to Q3'26, total operating expenses exhibited strong upward volatility, surging from 51.64B USD to 95.77B USD, driven primarily by a dramatic escalation in SG&A Expenses from 37.76B USD to 80.29B USD, which more than doubled and showed acceleration in the latter half (e.g., a 73.7% jump in Q2'26 alone). R&D Expenses remained relatively stable, fluctuating between 10.47B USD and 17.10B USD with an overall 11.5% growth, highlighting SG&A as the key driver of expense expansion while R&D maintained steady support for core operations.