Alibaba shares jump 19% on cloud unit acceleration, report of new AI chip
Signage at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, on Thursday, Feb. 6, 2025. Qilai Shen | Bloomberg | Getty ImagesAlibaba's Hong Kong listed shares surged more than 19% on Monday as the Chinese tech giant's cloud computing unit drove strong quarterly results, while details emerged over its new AI chip development.It's the highest level for the stock since March. Investors have backed the company's improving performance in its key cloud unit and are content with the the t...
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