Alibaba stock surged 19% after reports of strong momentum in its cloud computing division and the development of a new artificial intelligence chip.
Investors welcomed signs that the Chinese tech giant is regaining competitiveness in the cloud market, where it faces pressure from rivals such as Tencent and Huawei. The reported AI chip project also boosted confidence in Alibaba’s ability to secure a foothold in the rapidly growing global AI industry, where demand for advanced semiconductors is soaring.
Analysts noted that the sharp share price rally reflects optimism about Alibaba’s strategy to integrate AI capabilities into its cloud offerings, potentially unlocking new revenue streams. The company’s performance comes amid a broader recovery in Chinese tech stocks, with markets closely watching how Beijing’s regulatory environment evolves for the sector.
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