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Chinese tech stocks hit a four-year high on AI progress and chip advances, led by Baidu and Alibaba.
Chinese tech stocks surged to a four-year high, led by Baidu and Alibaba, as investor optimism grew over AI advancements and semiconductor independence.
Baidu's shares rose up to 17% after deploying its self-developed Kunlun P800 chip for AI model training and securing a major AI partnership with China Merchants Group.
The Hang Seng Tech Index hit its highest level since 2021, fueled by strong AI investments, easing U.S.-China tensions, and domestic chip development.
Companies like Alibaba, JD.com, and Meituan also saw gains, with Alibaba benefiting from AI-driven cloud growth and speculation about founder Jack Ma’s return.
China’s tech firms are expected to spend $32 billion on AI in 2025, more than double 2023 levels, as they aim to reduce reliance on U.S. technology.
Las acciones tecnológicas chinas alcanzaron un máximo de cuatro años en el progreso de la IA y los avances en chips, liderados por Baidu y Alibaba.