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Alibaba's stock is rising after the company announced it will increase its AI infrastructure spending beyond the planned $53 billion, prompting analyst upgrades.
Alibaba's annual Apsara Conference showcased a strategic shift toward practical AI applications, with new spending commitments boosting market confidence.
Chinese tech company Alibaba has announced a $53 billion, three-year plan to build a global network of AI data centers, but faces challenges from US chip restrictions.
Chinese tech stocks are surging, outperforming U.S. benchmarks, as investor confidence grows in the nation's artificial intelligence capabilities and lower valuations.
Nvidia and Alibaba have formed a strategic partnership to integrate Nvidia's AI development tools into Alibaba's cloud platform for robotics and autonomous systems.
U.S. stock futures rose Wednesday morning ahead of new home sales data, with Alibaba surging on AI spending plans and Micron falling despite strong earnings.
Alibaba has released Wan2.2-animate, a new open-source AI model designed for character animation and video replacement, marking its second such release in a month.
Hong Kong's Hang Seng Tech index has surged 41% this year, more than doubling the Nasdaq's gains, fueled by breakthroughs in AI and chip self-sufficiency.
Alibaba's T-Head unit revealed a new AI chip in a state TV broadcast, claiming its performance is comparable to Nvidia's H20 GPU for the Chinese market.
