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Alibaba's stock jumps 18% as strong cloud computing growth and new AI chip boost investor confidence.
Alibaba's stock surged over 18% in Hong Kong due to strong performance in its cloud computing unit and the announcement of a new AI chip.
The company's cloud revenue grew 26% to 33.4 billion yuan, driven by AI-related products, which saw a triple-digit increase in revenue.
Despite overall revenue falling short of expectations, the stock rise reflects investor confidence in Alibaba's AI and cloud strategies.
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Las acciones de Alibaba saltan un 18% debido al fuerte crecimiento de la computación en la nube y el nuevo chip de IA que aumenta la confianza de los inversores.